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Registered number: 10158430
Glenart Trading Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2025
March Mutual Ltd
F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of Glenart Trading Ltd For The Year Ended 30 April 2025
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Glenart Trading Ltd which comprise the Profit and Loss Account, the Balance Sheet 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Glenart Trading Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Glenart Trading Ltd and state those matters that we have agreed to state to the director of Glenart Trading Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glenart Trading Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Glenart Trading Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Glenart Trading Ltd . You consider that Glenart Trading 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 accounts of Glenart Trading 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 financial statements.
Signed
16 July 2025
March Mutual Ltd
F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Page 1
Page 2
Balance Sheet
Registered number: 10158430
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 2,834 1,330
2,834 1,330
CURRENT ASSETS
Stocks 4 1,808 1,441
Debtors 5 20,546 11,333
Cash at bank and in hand 131,580 188,773
153,934 201,547
Creditors: Amounts Falling Due Within One Year 6 (90,905 ) (128,949 )
NET CURRENT ASSETS (LIABILITIES) 63,029 72,598
TOTAL ASSETS LESS CURRENT LIABILITIES 65,863 73,928
NET ASSETS 65,863 73,928
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 65,862 73,927
SHAREHOLDERS' FUNDS 65,863 73,928
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For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Miles Rasmussen
Director
16 July 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% Straight line basis
Computer Equipment 33% Straight line basis
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
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3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2024 - 1,995 1,995
Additions 2,711 - 2,711
As at 30 April 2025 2,711 1,995 4,706
Depreciation
As at 1 May 2024 - 665 665
Provided during the period 542 665 1,207
As at 30 April 2025 542 1,330 1,872
Net Book Value
As at 30 April 2025 2,169 665 2,834
As at 1 May 2024 - 1,330 1,330
4. Stocks
2025 2024
£ £
Stock 1,808 1,441
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 10,791 5,160
Other debtors 9,199 6,055
Paid in advance 556 -
Other taxes and social security - 118
20,546 11,333
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,418 3,475
Bank loans and overdrafts 79 -
Corporation tax - 18,452
Other taxes and social security 777 -
VAT 293 715
Other creditors 47,720 87,787
Received in advance 37,085 16,812
Accruals and deferred income 900 900
Director's loan account 633 808
90,905 128,949
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
8. Other Creditors
Other creditors include £43,318.02 (2024 - £83,385) payable to Glenart Trading (Pty) Ltd (South Africa) and £4,224 (2023 - £4,224) to Marcorp Marketing Consultants (South Africa) both companies owned by the director Miles C Rasmussen.

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