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Registered number: 11166489










GLENHAWK TECHNOLOGIES LTD









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
GLENHAWK TECHNOLOGIES LTD
REGISTERED NUMBER: 11166489

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

  

Creditors: amounts falling due within one year
 5 
-
(531,211)

Net current assets/(liabilities)
  
 
 
-
 
 
(531,211)

Total assets less current liabilities
  
-
(531,211)

  

Net assets/(liabilities)
  
-
(531,211)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1)
(531,212)

  
-
(531,211)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr G Harrington
Director

Date: 30 January 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
GLENHAWK TECHNOLOGIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Glenhawk Technologies Ltd is a private company, limited by shares, and incorporated in England and Wales. The company registration number is 11166489 and the registered office is 2nd Floor, Mutual House, 70 Conduit Street, London, W1S 2GF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date there are net current liabilities of £Nil (2023: £531,211) and total net liabilities of £Nil (2023: £531,211). 
On 28 February 2021 the company ceased to trade. During the year to 30 September 2024, the company did not trade other than for writing-in amounts owed to group undertakings. During this period of non-trading, the director is considering the future direction of the company. The financial statements have been prepared on a going concern basis. The parent company has indicated its willingness and ability to support the company for at least 12 months from the date of approval of the financial statements.

 
2.3

Intangible assets

The company adopts a policy of capitalising qualifying development expenditure in accordance with FRS102 s18.8H.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Computer software is amortised on a straight line basis over its estimated useful life, being the period over which the technology is expected to be utilised. Amortisation is only charged when such software is bought into use by the business.

Page 2

 
GLENHAWK TECHNOLOGIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
GLENHAWK TECHNOLOGIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Computer software

£





At 1 October 2023
555,472


Disposals
(555,472)



At 30 September 2024

-





At 1 October 2023
555,472


On disposals
(555,472)



At 30 September 2024

-



Net book value



At 30 September 2024
-



At 30 September 2023
-




5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
531,211


During the year, company wrote in amounts owed to group undertakings (2023: £Nil).

Page 4

 
GLENHAWK TECHNOLOGIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Related party transactions

Glenhawk Technologies Ltd is a subsidiary company and included in the group financial statements of Glenhawk Group Limited. Glenhawk Technologies Ltd has taken advantage of exemption contained in FRS 102 "paragraph 1AC.35" and has not therefore disclosed transactions and balances with fellow subsidiary companies.


7.


Parent entity and controlling party

The immediate parent is Glenhawk Group Limited, a company incorporated in England and Wales, with a registered office of 2nd Floor, Mutual House, 70 Conduit Street, London, W1S 2GF.
The ultimate parent company of Glenhawk Group Limited is GLEU GHK S.a.r.l, a company incorporated in Luxembourg.
 
The ultimate controlling party is Marc Lasry by virtue of their controlling interest in the ultimate parent company.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 31 January 2025 by Tasneem Bharmal FCCA (Senior statutory auditor) on behalf of MHA.

 
Page 5