Glenside Holdings Limited - Period Ending 2017-12-31

Registration number: 03769752

Glenside Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

Glenside Holdings Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Glenside Holdings Limited

Company Information

Director

R P Davison

Company secretary

B Davison

Registered office

Sheaf Bank Works Prospect Road Sheffield S2 3EN

Bankers

The Royal Bank of Scotland 5 Church Street Sheffield S1 1HF

Accountants

Landin Wilcock & Co Chartered Accountants 68 Queen Street Sheffield S1 1WR

Page 1

Glenside Holdings Limited

(Registration number: 03769752)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Fixed assets
Investments	4	71,923	71,923
Current assets
Debtors	5	2	2
Total assets less current liabilities		71,925	71,925
Creditors: Amounts falling due after more than one year	6	(36,923)	(36,923)
Net assets		35,002	35,002
Capital and reserves
Called up share capital		35,002	35,002
Total equity		35,002	35,002

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 June 2018
 

.........................................

R P Davison
Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Glenside Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sheaf Bank Works
Prospect Road
Sheffield
S2 3EN

These financial statements were authorised for issue by the director on 5 June 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation and functional currency is considered to be pounds sterling because that is the currency in the primary economic environment in which the company operates.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Page 3

Glenside Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
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.

 
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2016 - 2).

Page 4

Glenside Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

4	Investments

	2017 £	2016 £
Investments in subsidiaries	71,923	71,923

Subsidiaries	£
Cost or valuation
At 1 January 2017	71,923
Provision
Carrying amount
At 31 December 2017	71,923
At 31 December 2016	71,923

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2017	2016

Subsidiary undertakings
Glenside Limited	Sheaf Bank Works Prospect Road Sheffield S2 3EN	Ordinary	100%	100%
	England

The principal activity of Glenside Limited is Holding Company

5

Debtors

	2017 £	2016 £
Other debtors	2	2
	2	2

Page 5

Glenside Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

6

Creditors

Creditors: amounts falling due after more than one year

	2017 £	2016 £
Due after one year
Other non-current financial liabilities	36,923	36,923

7	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	35,002	35,002	35,002	35,002

Page 6