IRIS Accounts Production v24.3.0.553 01573761 Board of Directors Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary shares 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015737612023-05-31015737612024-05-31015737612023-06-012024-05-31015737612022-05-31015737612022-06-012023-05-31015737612023-05-3101573761ns15:EnglandWales2023-06-012024-05-3101573761ns14:PoundSterling2023-06-012024-05-3101573761ns10:Director12023-06-012024-05-3101573761ns10:Director22023-06-012024-05-3101573761ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3101573761ns10:SmallEntities2023-06-012024-05-3101573761ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3101573761ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3101573761ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3101573761ns10:FullAccounts2023-06-012024-05-3101573761ns10:OrdinaryShareClass12023-06-012024-05-3101573761ns10:CompanySecretary12023-06-012024-05-3101573761ns10:RegisteredOffice2023-06-012024-05-3101573761ns5:CurrentFinancialInstruments2024-05-3101573761ns5:CurrentFinancialInstruments2023-05-3101573761ns5:Non-currentFinancialInstruments2024-05-3101573761ns5:Non-currentFinancialInstruments2023-05-3101573761ns5:ShareCapital2024-05-3101573761ns5:ShareCapital2023-05-3101573761ns5:RevaluationReserve2024-05-3101573761ns5:RevaluationReserve2023-05-3101573761ns5:RetainedEarningsAccumulatedLosses2024-05-3101573761ns5:RetainedEarningsAccumulatedLosses2023-05-3101573761ns5:LandBuildings2023-06-012024-05-3101573761ns5:PlantMachinery2023-06-012024-05-3101573761ns5:LandBuildings2023-05-3101573761ns5:PlantMachinery2023-05-3101573761ns5:LandBuildings2024-05-3101573761ns5:PlantMachinery2024-05-3101573761ns5:LandBuildings2023-05-3101573761ns5:PlantMachinery2023-05-3101573761ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3101573761ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3101573761ns5:Secured2024-05-3101573761ns5:Secured2023-05-3101573761ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 01573761 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Glidetree Limited

Glidetree Limited (Registered number: 01573761)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glidetree Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M Jenkins
C Evans





SECRETARY: C Evans





REGISTERED OFFICE: Publicity Centre,
362 Cowbridge Road East
Cardiff
South Glamorgan
CF5 1HE





REGISTERED NUMBER: 01573761 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Glidetree Limited (Registered number: 01573761)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 26,890 32,308

CURRENT ASSETS
Stocks 6 153,600 132,150
Debtors 7 299,965 302,227
Cash at bank and in hand 55,484 58,756
509,049 493,133
CREDITORS
Amounts falling due within one year 8 405,472 345,037
NET CURRENT ASSETS 103,577 148,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,467

180,404

CREDITORS
Amounts falling due after more than one
year

9

14,908

36,970
NET ASSETS 115,559 143,434

CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Revaluation reserve 40,000 40,000
Retained earnings 65,559 93,434
SHAREHOLDERS' FUNDS 115,559 143,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Glidetree Limited (Registered number: 01573761)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:




M Jenkins - Director



C Evans - Director


Glidetree Limited (Registered number: 01573761)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Glidetree Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the presentation of these financial statements are set out
below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 15% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Glidetree Limited (Registered number: 01573761)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
The CJRS Grant (Coronavirus Job Retention Scheme Grant) is recognised in the profit and loss account on a systematic basis over the period in which the company recognises as expenses the related costs for which the grant is intended to compensate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

Glidetree Limited (Registered number: 01573761)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 40,000 318,733 358,733
DEPRECIATION
At 1 June 2023 23,000 303,425 326,425
Charge for year 1,600 3,818 5,418
At 31 May 2024 24,600 307,243 331,843
NET BOOK VALUE
At 31 May 2024 15,400 11,490 26,890
At 31 May 2023 17,000 15,308 32,308

Cost or valuation at 31 May 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2007 35,000 - 35,000
Valuation in 2021 5,000 - 5,000
Cost - 318,733 318,733
40,000 318,733 358,733

Leasehold buildings were valued on an open market basis on 18 March 2021 by Graham Griffiths & Co Chartered Surveyors .

6. STOCKS
31.5.24 31.5.23
£    £   
Stocks 153,600 132,150

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 277,866 311,608
Other debtors 22,099 (9,381 )
299,965 302,227

Glidetree Limited (Registered number: 01573761)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 23,558 23,558
Trade creditors 153,841 155,858
Taxation and social security 70,243 77,369
Other creditors 157,830 88,252
405,472 345,037

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 14,908 36,970

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 38,466 60,528

The bank loan and overdraft are secured by a debenture over the company's assets and by personal guarantees from the directors.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
10,000 Ordinary shares £1 10,000 10,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year advances and credits were made to the directors. At the year end £11,671 was owed to the company by the directors (2023 £4,746 was owed by the directors).