Glynfelin Estates Limited - Accounts to registrar (filleted) - small 18.2
Glynfelin Estates Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
GLYNFELIN ESTATES LIMITED |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
GLYNFELIN ESTATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Third Floor, |
Langdon House, Langdon Road |
SA1 Swansea Waterfront |
Swansea |
West Glamorgan |
SA1 8QY |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
GLYNFELIN ESTATES LIMITED |
The following reproduces the text of the report prepared for the directors 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 Report of the Directors 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 Glynfelin Estates Limited for the year ended 31 December 2021 which comprise the Income Statement, 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 Board of Directors of Glynfelin Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glynfelin Estates Limited and state those matters that we have agreed to state to the Board of Directors of Glynfelin Estates Limited, as a body, 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 Glynfelin Estates Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Glynfelin Estates 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 Glynfelin Estates Limited. You consider that Glynfelin Estates 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 Glynfelin Estates 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. |
The Third Floor, |
Langdon House, Langdon Road |
SA1 Swansea Waterfront |
Swansea |
West Glamorgan |
SA1 8QY |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Glynfelin Estates Limited is a private company, limited by shares, registered in the United Kingdom. |
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 Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rents received from the tenants of the company's properties, excluding value added tax. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Investment property |
Investment properties are initially valued at cost, with the directors considering the fair value at the end of each accounting period. A significant proportion of the properties were acquired during the current accounting period. |
Given that at the balance sheet date relatively little time has elapsed since the acquisition of the properties in the year, the directors are satisfied that the original cost and fair value would not be significantly different. They have also considered the fair values of the properties acquired in earlier accounting periods and are satisfied that the original cost is reasonable when considering the fair value. |
Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. |
Other investments |
Other investments are shown at cost. As the investment was acquired in the year the directors consider that the fair value would not have changed materially from the date of acquisition to the balance sheet date.They are satisfied that cost is a fair approximation of the fair value. |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
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 NIL (2020 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
5. | FIXED ASSET INVESTMENTS |
2021 | 2020 |
£ | £ |
Participating interests |
Other investments not loans |
Additional information is as follows: |
Interest |
in |
associate |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Investments (neither listed nor unlisted) were as follows: |
2021 | 2020 |
£ | £ |
Other investments | 127,347 | 485,766 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
Additions |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by associates |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to associates | 12,121,579 | 7,396,950 |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 371,161 | 433,331 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
The bank loan is secured by a charge over the freehold property owned by the company. |
GLYNFELIN ESTATES LIMITED (REGISTERED NUMBER: 09903340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 100 |
900 Ordinary shares of £1 were issued during the year |