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REGISTERED NUMBER: 07537629 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Glendale Creative Limited

Glendale Creative Limited (Registered number: 07537629)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glendale Creative Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S M Toll
Mrs S Toll





REGISTERED OFFICE: The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT





REGISTERED NUMBER: 07537629 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

Glendale Creative Limited (Registered number: 07537629)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 332
Tangible assets 5 130,058 119,185
130,058 119,517

CURRENT ASSETS
Debtors 6 220,619 270,493
Cash at bank and in hand 1,125,352 1,134,410
1,345,971 1,404,903
CREDITORS
Amounts falling due within one year 7 256,021 307,276
NET CURRENT ASSETS 1,089,950 1,097,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,220,008

1,217,144

CREDITORS
Amounts falling due after more than one
year

8

(30,248

)

(21,856

)

PROVISIONS FOR LIABILITIES (33,000 ) (27,000 )
NET ASSETS 1,156,760 1,168,288

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,156,758 1,168,286
SHAREHOLDERS' FUNDS 1,156,760 1,168,288

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Glendale Creative Limited (Registered number: 07537629)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





S M Toll - Director


Glendale Creative Limited (Registered number: 07537629)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Glendale Creative 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 company is not part of a group.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

Plant and machinery etc - 25% straight line and 25% reducing balance

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, and loans from banks and related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Glendale Creative Limited (Registered number: 07537629)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. 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.

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
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 12,150
AMORTISATION
At 1 July 2023 11,818
Charge for year 332
At 30 June 2024 12,150
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 332

Glendale Creative Limited (Registered number: 07537629)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 207,208
Additions 60,625
Disposals (38,996 )
At 30 June 2024 228,837
DEPRECIATION
At 1 July 2023 88,023
Charge for year 44,041
Eliminated on disposal (33,285 )
At 30 June 2024 98,779
NET BOOK VALUE
At 30 June 2024 130,058
At 30 June 2023 119,185

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 198,363 251,493
Other debtors 22,256 19,000
220,619 270,493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,698 9,698
Hire purchase contracts 7,562 -
Trade creditors 73,205 41,986
Taxation and social security 140,105 247,321
Other creditors 25,451 8,271
256,021 307,276

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,882 21,856
Hire purchase contracts 18,366 -
30,248 21,856

Glendale Creative Limited (Registered number: 07537629)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company has financial commitments of £10,300 in relation to a lease agreement in respect of the company premises. The agreement has 5 months remaining until the break clause period.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date an amount of £9,093 (last year: £4,711) was owed to the company by one of the directors, Mr S Toll. This amount is included within other debtors. Interest has been charged on this balance at the official rate, set by HMRC.