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GLENARDEN HOLDINGS LIMITED

Registered Number
NI005421
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

GLENARDEN HOLDINGS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

H M Allen

Company Secretary

H M Allen

Registered Address

Suite 2.06, Custom House Custom House Square
Belfast
BT1 3ET

Registered Number

NI005421 (Northern Ireland)
GLENARDEN HOLDINGS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments4219,003225,377
219,003225,377
Current assets
Debtors253,529246,282
Cash at bank and on hand3,0462,820
256,575249,102
Creditors amounts falling due within one year5(2,119)(2,019)
Net current assets (liabilities)254,456247,083
Total assets less current liabilities473,459472,460
Net assets473,459472,460
Capital and reserves
Called up share capital10,00010,000
Profit and loss account463,459462,460
Shareholders' funds473,459472,460
The financial statements were approved and authorised for issue by the Director on 28 March 2025, and are signed on its behalf by:
H M Allen
Director
Registered Company No. NI005421
GLENARDEN HOLDINGS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Interest income
Interest income is recognised using the effective interest rate method.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 April 23689689
At 31 March 24689689
Depreciation and impairment
At 01 April 23689689
At 31 March 24689689
Net book value
At 31 March 24--
At 31 March 23--
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 April 23225,377225,377
Revaluations(6,374)(6,374)
At 31 March 24219,003219,003
Net book value
At 31 March 24219,003219,003
At 31 March 23225,377225,377

Notes

1Other investments other than loans
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1919
Accrued liabilities and deferred income2,1002,000
Total2,1192,019
6.Related party transactions
Included in other debtors is an amount of £177,364 (2023: £178,069) owing to the company by key management personnel. Interest was charged to key management personnel at a rate of 2.25%.
7.Controlling party
The ultimate controlling parties are DL Kada and SR Grossman by virtue of their shareholdings in the company.