Glendale Retail Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI036477

GLENDALE RETAIL LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

2 October 2025

GLENDALE RETAIL LTD

STATEMENT OF FINANCIAL POSITION

2 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	493	6,056
Tangible assets	6	91,023	103,401
		--------	---------
		91,516	109,457

Current assets

Stocks		140,241	149,664
Debtors	7	162,740	296,001
Cash at bank and in hand		1,209,139	1,516,456
		------------	------------
		1,512,120	1,962,121

Creditors: amounts falling due within one year	8	998,870		1,613,224
		------------		------------
Net current assets			513,250	348,897
			---------	---------
Total assets less current liabilities			604,766	458,354

Provisions

Taxation including deferred tax	18,894	77,785
	---------	---------
Net assets	585,872	380,569
	---------	---------

GLENDALE RETAIL LTD

STATEMENT OF FINANCIAL POSITION (continued)

2 October 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	10	2	2
Profit and loss account		585,870	380,567
		---------	---------
Shareholders funds		585,872	380,569
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 2 October 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

AG Gracey

Director

Company registration number: NI036477

GLENDALE RETAIL LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 2 OCTOBER 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 73 Newton Park, Belfast, BT8 6FQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts received during the period, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. The company has now adopted FRS 19. Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallize, based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long land leasehold	-	5% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 41 (2024: 40 ).

5. Intangible assets

	Goodwill
	£
Cost
At 3 October 2024 and 2 October 2025	83,939
	--------
Amortisation
At 3 October 2024	77,883
Charge for the year	5,563
	--------
At 2 October 2025	83,446
	--------
Carrying amount
At 2 October 2025	493
	--------
At 2 October 2024	6,056
	--------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 3 October 2024	318,167	229,673	9,495	144,417	701,752
Additions	–	10,424	–	–	10,424
	---------	---------	-------	---------	---------
At 2 October 2025	318,167	240,097	9,495	144,417	712,176
	---------	---------	-------	---------	---------
Depreciation
At 3 October 2024	261,370	183,069	9,495	144,417	598,351
Charge for the year	2,020	20,782	–	–	22,802
	---------	---------	-------	---------	---------
At 2 October 2025	263,390	203,851	9,495	144,417	621,153
	---------	---------	-------	---------	---------
Carrying amount
At 2 October 2025	54,777	36,246	–	–	91,023
	---------	---------	-------	---------	---------
At 2 October 2024	56,797	46,604	–	–	103,401
	---------	---------	-------	---------	---------

7. Debtors

	2025	2024
	£	£
Amounts owed by group and related undertakings	131,428	132,791
Other debtors	31,312	163,210
	---------	---------
	162,740	296,001
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	79,110	95,751
Amounts owed to group and related undertakings	777,883	49,958
Corporation tax	55,491	60,927
Social security and other taxes	62,171	49,134
Other creditors	24,215	1,357,454
	---------	------------
	998,870	1,613,224
	---------	------------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	18,894	77,785
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	18,894	21,741
Revaluation of tangible assets	–	56,044
	--------	--------
	18,894	77,785
	--------	--------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

11. Contingencies

The company had no contingencies at either year end.

12. Directors' advances, credits and guarantees

During the year, the director repaid net loans of £nil to the company (2024: £219,530). At the year end, the £4,978 was owed from the company to the director (2024: £4,978).

13. Related party transactions

The company was under the joint control of Mr & Mrs Gracey throughout the current period.