Glenside Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03769752 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Glenside Holdings Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Mr Russell Patrick Davison

SECRETARY:

Mrs Barbara Davison

REGISTERED OFFICE:

Sheaf Bank Works

Prospect Road

Sheffield

South Yorkshire

S2 3EN

REGISTERED NUMBER:

03769752 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

The Royal Bank of Scotland Plc

5 Church Street

Sheffield

South Yorkshire

S1 1HF

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company

is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and

certain other primary statements and the Director's Report are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Glenside Holdings Limited for the year ended

31 December 2019 which comprise the Income Statement, Other Comprehensive Income, Balance

Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Glenside Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glenside Holdings Limited and state those matters that we have agreed to state to the director of Glenside Holdings Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glenside Holdings Limited and its director for our work or for this report.

It is your duty to ensure that Glenside Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glenside Holdings Limited. You consider that Glenside Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glenside Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

25 June 2020

FIXED ASSETS

Investments

4

71,923

71,923

CURRENT ASSETS

Debtors

5

2

2

CREDITORS

Amounts falling due within one year

6

(36,923

)

(36,923

)

NET CURRENT LIABILITIES

(36,921

)

(36,921

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,002

35,002

CAPITAL AND RESERVES

Called up share capital

35,002

35,002

35,002

35,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2020 and were signed by:

Mr Russell Patrick Davison - Director

1.	STATUTORY INFORMATION

Glenside Holdings 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.

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 with wholly owned subsidiaries within the

group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to

the contractual provisions of the instrument. Financial liabilities and equity instruments are

classified according to the substance of the contractual arrangements entered into. An

equity instrument is any contract that evidences a residual interest in the assets of the

company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

and 31 December 2019

71,923

NET BOOK VALUE

At 31 December 2019

71,923

At 31 December 2018

71,923

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Other debtors

2

2

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Amounts owed to group undertakings

36,923

36,923

7.	GOING CONCERN

The Covid-19 pandemic is an unprecedented situation and while the reduction in activity

associated with Covid- 19 could be sharp and large, it is likely to rebound sharply when social

distancing measures are lifted.

In addition, in the intervening period, while activity is disrupted, substantial and substantive

government and central bank measures have been put in place in the UK and

internationally to support businesses and households.

The measures, which have been evolving rapidly and could evolve further, are expected to

remain in place throughout the period of disruption.

However, In light of the above the directors consider that the Covid-19 pandemic will not

have a detrimental effect on the company's trade.