Glenbrook Agri Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI057396

Glenbrook Agri Ltd

Filleted Unaudited Financial Statements

30 November 2024

Glenbrook Agri Ltd

Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Glenbrook Agri Ltd

Year ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glenbrook Agri Ltd for the year ended 30 November 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the director of Glenbrook Agri Ltd in accordance with the terms of our engagement letter dated 11 August 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Glenbrook Agri Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glenbrook Agri Ltd and its director for our work or for this report.

It is your duty to ensure that Glenbrook Agri Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glenbrook Agri Ltd. You consider that Glenbrook Agri Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Glenbrook Agri Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JOSEPH MURRAY LIMITED Chartered accountants

30b MARKET SQUARE DROMORE CO. DOWN BT25 1AW

20 June 2025

Glenbrook Agri Ltd

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		77,747	67,363

Current assets

Stocks		22,650	44,273
Debtors	6	240,441	229,219
Cash at bank and in hand		238,503	220,628
		---------	---------
		501,594	494,120

Creditors: amounts falling due within one year	7	118,521		150,741
		---------		---------
Net current assets			383,073	343,379
			---------	---------
Total assets less current liabilities			460,820	410,742
			---------	---------
Net assets			460,820	410,742
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	460,818	410,740
	---------	---------
Shareholder funds	460,820	410,742
	---------	---------

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 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Glenbrook Agri Ltd

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:

Mr E ROLESTON
Director

Company registration number: NI057396

Glenbrook Agri Ltd

Notes to the Financial Statements

Year ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 30 Finnis Road, Dromara, Dromore, Co. Down, BT25 2EJ.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 December 2023	133,485	3,439	136,924
Additions	49,393	–	49,393
Disposals	( 38,812)	–	( 38,812)
	---------	-------	---------
At 30 November 2024	144,066	3,439	147,505
	---------	-------	---------
Depreciation
At 1 December 2023	66,122	3,439	69,561
Charge for the year	25,916	–	25,916
Disposals	( 25,719)	–	( 25,719)
	---------	-------	---------
At 30 November 2024	66,319	3,439	69,758
	---------	-------	---------
Carrying amount
At 30 November 2024	77,747	–	77,747
	---------	-------	---------
At 30 November 2023	67,363	–	67,363
	---------	-------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	239,942	226,895
Other debtors	499	2,324
	---------	---------
	240,441	229,219
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	42,458	104,480
Corporation tax	9,570	9,264
Social security and other taxes	3,023	1,600
Other creditors	63,470	35,397
	---------	---------
	118,521	150,741
	---------	---------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr E ROLESTON	( 32,997)	( 33,249)	5,576	( 60,670)
	--------	--------	-------	--------

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr E ROLESTON	( 49,889)	( 3,100)	19,992	( 32,997)
	--------	-------	--------	--------

9. Related party transactions

The company was under the control of Mr E Roleston throughout the current and previous year as the sole director. The company is jointly owned by Mr E Roleston and his wife, Mrs Jemma Roleston FCA. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.