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COMPANY REGISTRATION NUMBER: 03228651
Glenworth Associates Ltd
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Glenworth Associates Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
3,735
3,424
Current assets
Debtors
6
142,741
76,206
Cash at bank and in hand
297,981
225,331
---------
---------
440,722
301,537
Creditors: amounts falling due within one year
7
83,099
27,021
---------
---------
Net current assets
357,623
274,516
---------
---------
Total assets less current liabilities
361,358
277,940
Provisions
Taxation including deferred tax
934
856
---------
---------
Net assets
360,424
277,084
---------
---------
Capital and reserves
Called up share capital
3
3
Share premium account
21,999
21,999
Profit and loss account
338,422
255,082
---------
---------
Shareholders funds
360,424
277,084
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Glenworth Associates Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 8 February 2025 , and are signed on behalf of the board by:
Mr J P Pisani
Mr S R Gordon
Director
Director
Mr D L Easton
Director
Company registration number: 03228651
Glenworth Associates Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 43 High Street, Over, Cambridge, CB24 5NB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts due for work done during the year, exclusive of Value Added Tax.
Research and development
Research and development expenditure is written off in the period in which it is incurred.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% reducing balance
Office Equipment
-
25-33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures and fittings
Office Equipment
Total
£
£
£
Cost
At 1 May 2023
3,563
28,066
31,629
Additions
2,089
2,089
-------
--------
--------
At 30 April 2024
3,563
30,155
33,718
-------
--------
--------
Depreciation
At 1 May 2023
2,517
25,688
28,205
Charge for the year
209
1,569
1,778
-------
--------
--------
At 30 April 2024
2,726
27,257
29,983
-------
--------
--------
Carrying amount
At 30 April 2024
837
2,898
3,735
-------
--------
--------
At 30 April 2023
1,046
2,378
3,424
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
117,091
73,187
Other debtors
25,650
3,019
---------
--------
142,741
76,206
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
44
Social security and other taxes
53,537
20,138
Other creditors
29,518
6,883
--------
--------
83,099
27,021
--------
--------