BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period The principal activity of company is the operation of a professional ice hockey sports team and venue. 9 July 2025 45 0 13925603 2024-06-30 13925603 2023-02-28 13925603 2022-02-28 13925603 2023-03-01 2024-06-30 13925603 2022-03-01 2023-02-28 13925603 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-06-30 13925603 uk-curr:PoundSterling 2023-03-01 2024-06-30 13925603 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-06-30 13925603 uk-bus:AbridgedAccounts 2023-03-01 2024-06-30 13925603 uk-bus:CompanySecretaryDirector1 2023-03-01 2024-06-30 13925603 uk-bus:Director2 2023-03-01 2024-06-30 13925603 uk-bus:Director3 2023-03-01 2024-06-30 13925603 uk-bus:Director4 2023-03-01 2024-06-30 13925603 uk-bus:Director5 2023-03-01 2024-06-30 13925603 uk-bus:CompanySecretary1 2023-03-01 2024-06-30 13925603 uk-bus:RegisteredOffice 2023-03-01 2024-06-30 13925603 uk-bus:Agent1 2023-03-01 2024-06-30 13925603 uk-core:ShareCapital 2024-06-30 13925603 uk-core:ShareCapital 2023-02-28 13925603 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 13925603 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 13925603 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 13925603 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 13925603 uk-core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-06-30 13925603 uk-bus:FRS102 2023-03-01 2024-06-30 13925603 uk-core:Buildings 2023-03-01 2024-06-30 13925603 uk-core:Land 2023-03-01 2024-06-30 13925603 uk-core:PlantMachinery 2023-03-01 2024-06-30 13925603 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-06-30 13925603 uk-core:MotorVehicles 2023-03-01 2024-06-30 13925603 uk-core:OtherPropertyPlantEquipment 2023-03-01 2024-06-30 13925603 uk-bus:Audited 2023-03-01 2024-06-30 13925603 uk-core:ParentEntities 2023-03-01 2024-06-30 13925603 2023-03-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Glasgow Native Ventures Limited
 
ABRIDGED FINANCIAL STATEMENTS
 
for the financial period ended 30 June 2024



GLASGOW NATIVE VENTURES LIMITED
DIRECTORS AND OTHER INFORMATION

 
Directors Michael O'Rourke
Patrick Hand
Russell Smith (Appointed 18 February 2025)
David Taylor (Appointed 10 October 2023, Resigned 26 February 2025)
Gareth Christopher Chalmers (Appointed 25 May 2023, Resigned 26 February 2025)
 
 
Company Secretary Michael O'Rourke
 
 
Company Registration Number 13925603
 
 
Registered Office Laurel House, 146 - 148 Garnet Road
Leeds, West Yorkshire, LS11 5HP
United Kingdom
 
 
Business Address Glasgow Clan
C/o Braehead Arena
Kings Inch Road
G51 4BN
United Kingdom
 
 
Independent Auditors Strata Audit
Statutory Audit Firm
3 Harmony Court
Harmony Row
Dublin 2
Ireland



GLASGOW NATIVE VENTURES LIMITED
Company Registration Number: 13925603
ABRIDGED BALANCE SHEET
as at 30 June 2024

Jun 24 Feb 23
Notes £ £
 
Fixed Assets
Intangible assets 7 750,000 -
Tangible assets 8 842,360 -
───────── ─────────
Fixed Assets 1,592,360 -
───────── ─────────
 
Current Assets
Stocks 47,261 -
Debtors 150,455 100
Cash and cash equivalents 181,582 -
───────── ─────────
379,298 100
───────── ─────────
Creditors: amounts falling due within one year (3,790,034) -
───────── ─────────
Net Current (Liabilities)/Assets (3,410,736) 100
───────── ─────────
Total Assets less Current Liabilities (1,818,376) 100
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings (1,818,476) -
───────── ─────────
Equity attributable to owners of the company (1,818,376) 100
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
           
Approved by the Board and authorised for issue on 9 July 2025 and signed on its behalf by
           
           
________________________________     ________________________________
Michael O'Rourke     Patrick Hand
Director     Director
           



GLASGOW NATIVE VENTURES LIMITED
STATEMENT OF CHANGES IN EQUITY
AS AT 30 JUNE 2024

Called up Retained Total
share earnings
capital
£ £ £
 
At 18 February 2022 - - -
───────── ───────── ─────────
Net proceeds of equity
ordinary share issue 100 - 100
  ───────── ───────── ─────────
At 28 February 2023 100 - 100
  ───────── ───────── ─────────
Loss for the financial period - (1,818,476) (1,818,476)
  ───────── ───────── ─────────
At 30 June 2024 100 (1,818,476) (1,818,376)
  ═════════ ═════════ ═════════



GLASGOW NATIVE VENTURES LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2024

   
1. GENERAL INFORMATION
 
Glasgow Native Ventures Limited  is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 13925603. The registered office of the company is Laurel House, 146 - 148 Garnet Road, Leeds, West Yorkshire, LS11 5HP, United Kingdom. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 30 June 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured.
 
Currency
The functional and presentation currency of this company is Great British Pound.
 
Intangible assets
 
Licence
Intangible Assets represent the value of the licence to participate in the Elite Ice Hockey League.
 
Tangible assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operation in the manner intended. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
 
  Computer Equipment - 10% Straight line
  Leasehold Improvements - 10% Straight line
  Screens Equipment - 20% Straight line
  Venue and Other Equipment - 20 - 33% Straight line
  Motor vehicles - 25% Straight line
  Ice Plant Equipment - 0% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. If the recoverable amount of the asset is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount.
 
The company's policy is to review the remaining useful economic lives and residual values of Tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect remaining estimated useful economic life and residual value.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at transaction price and thereafter stated at amortised cost using the effective interest rate method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset's carrying amounts and the present value of estimated future cash flows, discounted at the effective interest rate. All movements in the level of the provision required are recognised in the profit and loss account.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Related parties
The company discloses transactions with related parties which are not wholly owned within the group. It does not disclose transactions with members of the group which are wholly owned.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. PERIOD OF FINANCIAL STATEMENTS
 
The financial statements are for the 16 month period ended 30 June 2024.
The comparative figures relate to the 12 month period ended 28 February 2023.
   
4. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by Strata Audit.
The Auditor's Report was signed by Celine Donnelly (Senior Statutory Auditor) for and on behalf of Strata Audit on 9th July 2025.
 
   
5. PROVISIONS AVAILABLE FOR AUDITS OF SMALL ENTITIES
 
In common with many other businesses of our size and nature, we use our auditors to prepare and submit tax returns to His Majesty's Revenue and Customs and to assist with the preparation of the financial statements.
       
6. EMPLOYEES
 
The average monthly number of employees, including directors, during the financial period was 45, (Feb 23 - 0).
 
  Jun 24 Feb 23
  Number Number
 
Staff 45 -
  ═════════ ═════════
       
7. INTANGIBLE ASSETS
  Licence  
    Total
  £ £
Cost
At 1 March 2023 - -
Additions 750,000 750,000
  ───────── ─────────
At 30 June 2024 750,000 750,000
  ───────── ─────────
Net book value
At 30 June 2024 750,000 750,000
  ═════════ ═════════

                 
8. TANGIBLE ASSETS
  Computer Leasehold Screens Venue Motor Ice Plant Total
  Equipment Improvements Equipment and Other vehicles Equipment  
        Equipment      
  £ £ £ £ £ £ £
Cost
At 1 March 2023 - - - - - - -
Additions 3,491 186,636 143,624 14,230 143,096 396,935 888,012
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
At 30 June 2024 3,491 186,636 143,624 14,230 143,096 396,935 888,012
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2023 - - - - - - -
Charge for the financial period 1,119 11,717 3,966 624 28,226 - 45,652
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
At 30 June 2024 1,119 11,717 3,966 624 28,226 - 45,652
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 June 2024 2,372 174,919 139,658 13,606 114,870 396,935 842,360
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
 
Included within tangible fixed assets is Ice Plant Equipment with a value of £396,935. There is no depreciation charged on this asset as it has not yet been brought into use.  The Ice Plant Equipment will be depreciated at 10% per annum on straight line basis when it is brought into use.

       
9. CAPITAL COMMITMENTS
 
The company entered into an agreement to purchase ice equipment with a value of £992,338. £396,935 was paid relating to this equipment in the period. The balance of £595,403 is expected to be settled in the next 12 months.
   
10. PARENT COMPANY
 
The company’s ultimate parent undertaking is TDL Media Limited. TDL Media Limited is owned 100% by Michael O’Rourke.

The address of TDL Media Limited is Broadcasting House, 3A Princes Street South, Dublin 2, Ireland.

TDL Media Limited is registered in Ireland.
 
   
11. POST-BALANCE SHEET EVENTS
 
There have been no significant events affecting the company since the financial period-end.
       
12. GOING CONCERN
 
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the company has the on-going financial support of the ultimate parent company. On this basis the company continue to adopt the going concern basis in preparing the annual financial statements.