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REGISTERED NUMBER: 07570232 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED

GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED (REGISTERED NUMBER: 07570232)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: H D Facey
R A Davies
J E Martin
J D Sallows
C L Cliff
M Hodgson
D J Oxley
P C Hartland





SECRETARY: K B Cullen





REGISTERED OFFICE: The Old West Gun Works
201 Savile Street East
SHEFFIELD
S4 7UQ





REGISTERED NUMBER: 07570232 (England and Wales)





AUDITORS: Hollis and Co Limited
Chartered Accountants
Statutory Auditor
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED (REGISTERED NUMBER: 07570232)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 24,980,456 26,306,895

CURRENT ASSETS
Debtors 5 13,976 328,334
Investments 6 3,778,499 3,016,757
Cash at bank and in hand 4,207 21,293
3,796,682 3,366,384
CREDITORS
Amounts falling due within one year 7 1,058,814 508,483
NET CURRENT ASSETS 2,737,868 2,857,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,718,324

29,164,796

RESERVES
Revaluation reserve 8 12,759,432 14,105,384
Donation reserve 8 11,737,150 11,737,150
Retained earnings 8 3,221,742 3,322,262
27,718,324 29,164,796

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





M Hodgson - Director


GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED (REGISTERED NUMBER: 07570232)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Growth Led Innovation Driven Employee Company is a private company, limited by guarantee, 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. 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 as modified by the revaluation of certain assets.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Investments held as fixed assets and current assets are stated at fair value.

The gain or loss on revaluation of fixed asset investments have not been recorded in the Profit and Loss account as required by FRS102 Section A as a 'true and fair' override has been applied.

The investments are held for the long term benefit of the company and are not available for sale. Any revaluation of the investments is therefore purely notional and cannot be realised, and so it would be misleading to recognise any gain or loss on revaluation in the Profit and Loss account.

The gain or loss on revaluation of current asset investments has been recorded in the Profit and Loss account as required by FRS102 Section A.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
At 1 January 2024 26,306,895
Revaluations (1,326,439 )
At 31 December 2024 24,980,456
NET BOOK VALUE
At 31 December 2024 24,980,456
At 31 December 2023 26,306,895

GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED (REGISTERED NUMBER: 07570232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2024 is represented by:

Unlisted
investments
£   
Valuation in 2023 24,980,456

If the fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 11,737,151 11,737,151

Fixed asset investments were valued on a fair value basis on 31 December 2024 by the directors .

The fair value of the investment's is considered to be the Q4 share price. Although the shares are not tradeable (either by Articles or by intention), the shares maintain a right to future dividends, and the share price is determined by a formula which is based upon the past dividends.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,247 30,540
Other debtors 729 2,007
Intercompany loan account - 292,951
Prepayments - 2,836
13,976 328,334

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 3,778,499 3,016,757

Current asset investments were valued on a fair value basis on 31 December 2024 by the directors.

The fair value of the investment's is considered to be the Q4 share price.

If the current asset investments had not been revalued they would have been included at the following historical cost:
2024 2023
£ £
Cost 4,223,896 ,3,521,508


GROWTH LED INNOVATION DRIVEN
EMPLOYEE COMPANY LIMITED (REGISTERED NUMBER: 07570232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 502,360 428,569
Trade creditors 71,428 45,086
Other creditors 6,187 9,023
Intercompany loan 396,230 -
Accruals and deferred income 82,609 25,805
1,058,814 508,483

8. RESERVES
Retained Revaluation Donation
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2024 3,322,262 14,105,384 11,737,150 29,164,796
Deficit for the year (120,033 ) (120,033 )
Donated shares - (1,326,439 ) - (1,326,439 )
Revaluation transfer 19,513 (19,513 ) - -
At 31 December 2024 3,221,742 12,759,432 11,737,150 27,718,324

The Donations Reserve represents the cost price of shares donated to the company.

The Revaluation Reserve represents the revaluation of the fixed and current asset investments.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Hollis (Senior Statutory Auditor)
for and on behalf of Hollis and Co Limited

10. CONTINGENT LIABILITIES

GLIDE Limited is party to a cross guarantee with Gripple Limited and Loadhog Limited, whereby each has provided an unlimited guarantee to secure bank liabilities of each entity.

The directors are not aware of any circumstances which would necessitate an amount becoming payable under this guarantee.

11. ULTIMATE CONTROLLING PARTY

There is no controlling party.