Glowcourt Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03587570

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

GLOWCOURT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs J A Jackson

SECRETARY:

REGISTERED OFFICE:

150 Mottram Old Road

Stalybridge

Cheshire

SK15 2SZ

REGISTERED NUMBER:

03587570

ACCOUNTANTS:

Moss and Williamson Limited

Chartered Accountants

11 Stamford Street

Stalybridge

Cheshire

SK15 1JP

FIXED ASSETS

Investment property

5

150,000

345,000

CURRENT ASSETS

Cash at bank and in hand

214,162

23,560

CREDITORS

Amounts falling due within one year

6

20,876

6,763

NET CURRENT ASSETS

193,286

16,797

TOTAL ASSETS LESS CURRENT LIABILITIES

343,286

361,797

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

89,176

214,176

Retained earnings

254,108

147,619

SHAREHOLDERS' FUNDS

343,286

361,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 11 March 2024 and were signed by:

Mr A D Jackson - Director

Mr R W Wood - Director

1.	STATUTORY INFORMATION

Glowcourt Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents gross rental income.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in proft or loss..

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2022

345,000

Disposals

(195,000

)

At 30 June 2023

150,000

NET BOOK VALUE

At 30 June 2023

150,000

At 30 June 2022

345,000

Fair value at 30 June 2023 is represented by:

£

Valuation in 2007

14,176

Valuation in 2021

75,000

Cost

60,824

150,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Taxation and social security

14,020

955

Other creditors

6,856

5,808

20,876

6,763

7.

RESERVES

Revaluation

reserve

£

At 1 July 2022

214,176

Revalue investment property

(125,000

)

At 30 June 2023

89,176

8.	RELATED PARTY DISCLOSURES

RELATED PARTY TRANSACTIONS

J D and M Wood are the head leaseholders of one of the company's properties. During the period, rent of £1,319 (2022 £1,758) was paid to them from Glowcourt Limited. The sum outstanding at 30 June 2022 was £1,319 (2022 £NIL).