Company registration number 03577559 (England and Wales)
GLENBRIDGE INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
GLENBRIDGE INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GLENBRIDGE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
1,210,000
1,738,051
Current assets
Debtors
4
4,049
7,786
Cash at bank and in hand
25,194
33,909
29,243
41,695
Creditors: amounts falling due within one year
5
(1,043,681)
(1,705,277)
Net current liabilities
(1,014,438)
(1,663,582)
Total assets less current liabilities
195,562
74,469
Creditors: amounts falling due after more than one year
6
-
0
(44,769)
Net assets
195,562
29,700
Capital and reserves
Called up share capital
7
2
2
Revaluation reserve
8
165,000
143,284
Profit and loss reserves
30,560
(113,586)
Total equity
195,562
29,700

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
M. Brugman
Director
Company registration number 03577559 (England and Wales)
GLENBRIDGE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The validity of this basis relies on the continuing support of its major creditors. In the opinion of the director, their support will continue for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business,The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
Over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

GLENBRIDGE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Company information

Glenbridge Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Capital House, 272 Manchester Road, Droylsden, Manchester, M43 6PW.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 July 2023
1,738,051
Disposals
(528,051)
At 30 June 2024
1,210,000

The investment properties are measured at fair value based on the opinion of the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

GLENBRIDGE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
3
Investment property
(Continued)
- 4 -

 

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,606
5,349
Prepayments and accrued income
2,443
2,437
4,049
7,786
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
44,520
Amounts owed to group undertakings
987,563
1,604,238
Other creditors
56,118
56,519
1,043,681
1,705,277

The bank loans are secured on the properties to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
44,769

The bank loans are secured on the properties to which they relate.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
GLENBRIDGE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Called up share capital
(Continued)
- 5 -

 

 

 

8
Revaluation reserve
2024
2023
£
£
At the beginning of the year
143,284
143,284
Other movements
21,716
-
At the end of the year
165,000
143,284
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

 

In forming our opinion, we have considered the adequacy of the disclosures made in the financial statements with regard to the solvency of the company. The financial statements have been prepared on a going concern basis which depends upon the continuing support of its major creditors, as described in note 1. Our opinion is not qualified in this regard.

Senior Statutory Auditor:
Michael Chadwick FCA, FCCA
Statutory Auditor:
Chadwick and Company (Manchester) Limited
Date of audit report:
21 March 2025
10
Financial commitments, guarantees and contingent liabilities
The director is not aware of any contingent liabilities.
11
Events after the reporting date

There have been no significant post balance sheet events.

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