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Gloryfair Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Gloryfair Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Wirral International Business Park, Riverview Road, Bromborough, Wirral, CH62 3RH. The Company's registered number is 03363831.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
These financial statements have been prepared on a going concern basis. The Company continues to own freehold land, from which rental income is earned, and the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next 12 months and for the foreseeable future.
Revenue is rental income earned from the Company's parent undertaking and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably meaasured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Rental income is recognised in the period it falls due, when the amount can be measured reliably and it is probably that the Company will receive the consideration due under the transaction.
All tangible fixed assets held are land and are therefore not depreciated.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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