REGISTERED NUMBER: 02081411 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Glidelaunch Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr M R Conrathe

Mrs J R Conrathe

Registered office:

Woodlands

Calthorpe Street

Ingham

Norwich

NR12 9TF

Registered number:

02081411 (England and Wales)

Accountants:

Hughes & Co.

The Stables

Broseley Hall

Church Street

Broseley

Shropshire

TF12 5DG

Fixed assets

Investments

4

1

1

Investment property

5

250,000

250,000

250,001

250,001

Current assets

Debtors

6

13,990

13,990

Cash at bank

13,931

9,725

27,921

23,715

Creditors

Amounts falling due within one year

7

4,030

3,350

Net current assets

23,891

20,365

Total assets less current liabilities

273,892

270,366

Provisions for liabilities

8

21,904

21,904

Net assets

251,988

248,462

Capital and reserves

Called up share capital

9

2

2

Capital reserve

9,213

9,213

Fair value reserve

91,099

91,099

Retained earnings

151,674

148,148

Shareholders' funds

251,988

248,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

Mr M R Conrathe - Director

1.	STATUTORY INFORMATION

Glidelaunch Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rent receivable during the year calculated on the basis that the tenant bears the costs of ground rent and service charges.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors

Short term debtors are measured at the transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Interest in

other

participating

interests

£

Cost

At 1 April 2024

and 31 March 2025

1

Net book value

At 31 March 2025

1

At 31 March 2024

1

Share in property management company.

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

and 31 March 2025

250,000

Net book value

At 31 March 2025

250,000

At 31 March 2024

250,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2003

(37,704

)

Valuation in 2006

20,000

Valuation in 2016

20,000

Valuation in 2018

65,000

Valuation in 2021

30,000

Valuation in 2023

55,000

Cost

97,704

250,000

The director, Mr M R Conrathe, has assessed the value of the company's investment property at the year end to be £250,000 (2024: £250,000) on the basis of there being a lifetime sitting tenant who meets the cost of council tax, water and management charges including insurance. If the property was to be sold at this value a tax liability of £21,904 (2024: £21,904) would arise. Mr Conrathe does not consider the cost of a professional valuation to be justified.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

13,990

13,990

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

827

507

Other creditors

3,203

2,843

4,030

3,350

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

21,904

21,904

Deferred tax

£

Balance at 1 April 2024

21,904

Balance at 31 March 2025

21,904

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M R Conrathe.