Glenheath V2 Limited

(Registration number: 15526892)
Balance Sheet as at 28 February 2025

	Note	2025 £
Current assets
Debtors	5	153,540
Cash at bank and in hand		107
		153,647
Creditors: Amounts falling due within one year	6	(171,950)
Net liabilities		(18,303)
Capital and reserves
Called up share capital		100
Retained earnings		(18,403)
Shareholders' deficit		(18,303)

For the financial period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2025 and signed on its behalf by:
 

......................................... Mr D H Diracles Director

Glenheath V2 Limited

Notes to the Unaudited Financial Statements for the Period from 27 February 2024 to 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o RJS Solicitors
G4-G5 Bellringer Road
Trentham Business Quarter
Stoke On Trent
Staffordshire
ST4 8GB

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Glenheath V2 Limited

Notes to the Unaudited Financial Statements for the Period from 27 February 2024 to 28 February 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the 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 the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

Glenheath V2 Limited

Notes to the Unaudited Financial Statements for the Period from 27 February 2024 to 28 February 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	36,890	36,890
Disposals	(36,890)	(36,890)
At 28 February 2025	-	-
Depreciation
Carrying amount
At 28 February 2025	-	-

5

Debtors

Current	Note	2025 £
Trade debtors		109,273
Amounts owed by related parties		44,267
		153,540

6

Creditors

	Note	2025 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		170,950
Accruals and deferred income		1,000
		171,950

7	Parent and ultimate parent undertaking

The company's immediate parent is Glenheath Ventures Limited, incorporated in England and Wales .