| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2025 |
| for |
| Glenwood Paint Supplies Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2025 |
| for |
| Glenwood Paint Supplies Limited |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Glenwood Paint Supplies Limited |
| Company Information |
| for the Year Ended 31 May 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 140 Coniscliffe Road |
| DARLINGTON |
| Co Durham |
| DL3 7RT |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Balance Sheet |
| 31 May 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Balance Sheet - continued |
| 31 May 2025 |
| The financial statements were approved by the director and authorised for issue on |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2025 |
| 1. | STATUTORY INFORMATION |
| Glenwood Paint Supplies Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| There were no material departures from this standard. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions which are concluded under normal market conditions. |
| Turnover |
| Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
| Income recognition |
| Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them, and when services have been provided. |
| Tangible fixed assets |
| Freehold property | - |
| Short leasehold | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Tangible fixed assets are measured at cost less accumulated depreciation and impairment. |
| Stocks |
| Stocks are valued at the lower of average cost and estimated selling price less costs to sell. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Short | and | Motor |
| property | leasehold | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 June 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Cost or valuation at 31 May 2025 is represented by: |
| Fixtures |
| Freehold | Short | and | Motor |
| property | leasehold | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2006 | 47,279 | - | - | - | 47,279 |
| Valuation in 2011 | (37,000 | ) | - | - | - | (37,000 | ) |
| Cost | 22,721 | 186,214 | 63,897 | 92,769 | 365,601 |
| 33,000 | 186,214 | 63,897 | 92,769 | 375,880 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 22,721 | 22,721 |
| Aggregate depreciation | 5,454 | 5,454 |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| The freehold property was revalued by the director during 2011. |
| This revaluation has been treated as deemed cost on transition to FRS102. |
| 5. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Director's loan account | 14,103 | 45,103 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 1,691 | 3,351 |
| Glenwood Paint Supplies Limited (Registered number: 01292559) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 June 2024 |
| Accelerated capital allowances | (1,660 | ) |
| Balance at 31 May 2025 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | RELATED PARTY DISCLOSURES |
| 2025 | 2024 |
| £ | £ |
| Amounts due to director | 14,103 | 45,103 |
| No interest has been charged. |