| Registered number: 02870613 | ||||||||
| FOR THE YEAR ENDED 30 NOVEMBER 2024 | ||||||||
| Prepared By: | ||||||||
| Willow Accounting & Consultancy | ||||||||
| 47a Commercial Road | ||||||||
| Ashley Cross | ||||||||
| Poole | ||||||||
| Dorset | ||||||||
| BH14 0HU | ||||||||
| Glenavon Properties Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THE YEAR ENDED 30 NOVEMBER 2024 | ||||||||
| DIRECTORS | ||||||||
| REGISTERED OFFICE | ||||||||
| Dorset | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by shares registered in EW - England and Wales, registered number 02870613 | ||||||||
| ACCOUNTANTS | ||||||||
| Willow Accounting & Consultancy | ||||||||
| 47a Commercial Road | ||||||||
| Ashley Cross | ||||||||
| Poole | ||||||||
| Dorset | ||||||||
| BH14 0HU | ||||||||
| Glenavon Properties Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED30 NOVEMBER 2024 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 4 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| Glenavon Properties Limited | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 2 | |||||||||
| CURRENT ASSETS | ||||||||||
| Stock | ||||||||||
| Debtors | 5 | |||||||||
| Cash at bank and in hand | ||||||||||
| 81,584 | 76,035 | |||||||||
| CREDITORS: Amounts falling due within one year | 6 | |||||||||
| NET CURRENT LIABILITIES | ( | (351,092) | ||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
| NET LIABILITIES | ( | ( | ||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 9 | |||||||||
| Profit and loss account | (209,264) | (274,006) | ||||||||
| SHAREHOLDERS' FUNDS | ( | ( | ||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| Glenavon Properties Limited | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 30 NOVEMBER 2024 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. Basis Of Accounting | ||||||||
| The accounts have been prepared under the historical cost convention. | ||||||||
| The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . | ||||||||
| 1b. Going Concern | ||||||||
| These financial statements have been prepared on the going concern basis. Assurances have been received from the director/shareholders of their continued financial support. | ||||||||
| 1c. Depreciation | ||||||||
| Plant and Machinery | reducing balance 20% | |||||||
| Commercial Vehicles | reducing balance 25% | |||||||
| Equipment | reducing balance 40% | |||||||
| 1d. Investment Properties | ||||||||
| Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. | ||||||||
| 1e. Stocks | ||||||||
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
| When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. | ||||||||
| Glenavon Properties Limited | ||||||||
| 2. TANGIBLE FIXED ASSETS | ||||||||
| Plant and | Commercial | |||||||
| Machinery | Vehicles | Equipment | Total | |||||
| £ | £ | £ | £ | |||||
| Cost | ||||||||
| At 1 December 2023 | 2,457 | 11,350 | 5,023 | 18,830 | ||||
| At 30 November 2024 | 2,457 | 11,350 | 5,023 | 18,830 | ||||
| Depreciation | ||||||||
| At 1 December 2023 | 2,364 | 6,562 | 4,960 | 13,886 | ||||
| For the year | 19 | 1,197 | 25 | 1,241 | ||||
| At 30 November 2024 | 2,383 | 7,759 | 4,985 | 15,127 | ||||
| Net Book Amounts | ||||||||
| At 30 November 2024 | 3,703 | |||||||
| At 30 November 2023 | 4,944 | |||||||
| 3. INVESTMENT PROPERTIES | ||||||||
| Investment | ||||||||
| Properties | Total | |||||||
| £ | £ | |||||||
| Fair value | ||||||||
| At 1 December 2023 | 73,181 | 73,181 | ||||||
| At 30 November 2024 | 73,181 | 73,181 | ||||||
| The valuation palced on the property has been determined by the directors and equates to the open market value. | ||||||||
| 4. STOCK | 2024 | 2023 | ||||
| £ | £ | |||||
| Stock comprises: | ||||||
| Work in progress | ||||||
| 5. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| VAT | 298 | 274 | ||||||
| 298 | 274 | |||||||
| Glenavon Properties Limited | ||||||||
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| PAYE control | 500 | 154 | ||||||
| Directors current account | 360,714 | 421,268 | ||||||
| Other creditors | 4,385 | 4,385 | ||||||
| Accruals | 1,330 | 1,320 | ||||||
| 366,929 | 427,127 | |||||||
| 7. EMPLOYEES | ||||||
| 2024 | 2023 | |||||
| No. | No. | |||||
| Average number of employees | 2 | |||||
| 8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | 703 | 939 | ||||||
| 703 | 939 | |||||||
| 9. SHARE CAPITAL | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 100 | 100 | |||||||
| 100 | 100 | |||||||
| 10. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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