The Glendower Group Limited - Dormant accounts - members and to registrar (filleted) 22.3

REGISTERED NUMBER: 02441490 (England and Wales)

Financial Statements for the Period 1 January 2021 to 29 December 2021

for

The Glendower Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Edwards

W J Evans

D McMurray

REGISTERED OFFICE:

Green Park

Wharfedale Road

Euroway Industrial Estate

Bradford

West Yorkshire

BD4 6SG

REGISTERED NUMBER:

02441490 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

CURRENT ASSETS

Cash at bank

58

CREDITORS

Amounts falling due within one year

4

169,372

NET CURRENT LIABILITIES

(169,314

)

(169,314

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(169,314

)

(169,314

)

PROVISIONS FOR LIABILITIES

156,227

NET LIABILITIES

(325,541

)

(325,541

)

CAPITAL AND RESERVES

Called up share capital

116

Share premium

399,989

Retained earnings

(725,646

)

(725,646

)

SHAREHOLDERS' FUNDS

(325,541

)

(325,541

)

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the period ended 29 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2023 and were signed on its behalf by:

D McMurray - Director

1.	STATUTORY INFORMATION

The Glendower Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Green Park, Wharfedale Road, Euroway Industrial Estate, Bradford, West Yorkshire, BD4 6SG.

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.

The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company was part of a restructure in 2020 and sold all of its interests in its subsidiaries to a third party and ceased to trade. At the date of this report the directors do not consider the company to be a going concern and have prepared the financial statements on a break up basis where all fixed assets are shown as current assets and have been valued at the lower of cost and net realisable value.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on experience and other factors considered to be relevant. Actual results may differ from these estimates.

Dilapidations provision

In accordance with the lease, the company makes a provision for works that are anticipated at the end of the term to return the property to the state it was at the commencement of the lease.

Financial instruments

The company applies the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit and loss.

Classification of financial liabilities

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 group after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans and intercompany loans are initially recognised at transaction price and subsequently measured at ammortised cost using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2020 - NIL).

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.12.21

31.12.20

£

Trade creditors

166,121

Other creditors

3,251

169,372

5.	RELATED PARTY DISCLOSURES

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.

A loan of £1,007,232 due from a company under common control was written off during the the year as the company does not have the resources to satisfy the debt.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the balance sheet date is Mr & Mrs McMurray by virtue of their shareholding in the parent company, Phoenix Fire Inhibitor Ltd.