Glenmeran Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08943855 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

GLENMERAN LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Director's Responsibilities Statement

7

Independent Chartered Certified Accountants' Review Report

8

DIRECTOR:

K M Parker

REGISTERED OFFICE:

Cobbus Cottage

Croston Close Road

Bury

Lancashire

BL96TD

REGISTERED NUMBER:

08943855 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

NatWest

68 Church Street

Lancaster

Lancashire

LA1 1LN

FIXED ASSETS

Intangible assets

4

110,935

124,802

Tangible assets

5

1,253

1,585

112,188

126,387

CURRENT ASSETS

Stocks

103,995

96,483

Debtors

6

144,173

297,016

Cash at bank

83,731

34,904

331,899

428,403

CREDITORS

Amounts falling due within one year

7

324,178

481,951

NET CURRENT ASSETS/(LIABILITIES)

7,721

(53,548

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,909

72,839

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

119,908

72,838

SHAREHOLDERS' FUNDS

119,909

72,839

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 20 December 2019 and were signed by:

K M Parker - Director

1.	STATUTORY INFORMATION

Glenmeran 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for sales of goods or services,

excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have transferred to the

buyer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Goodwill is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and any impairment.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life.

Plant and machinery

- 20% on reducing balance

Motor vehicles

- 25% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected assets is estimated and compared with its carrying amount. If the recoverable amount is lower, the

carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised

immediately in the profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not to exceed the amount that would have been determined had no

impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised

immediately in the profit or loss.

Government grants

Revenue subsidies are credited to the profit and loss in the period which they relate.

Stocks

Consumables and livestock are measured at the lower of cost and selling price less cost to complete and sell after

make due allowance for births and deaths of animals. Cost is measured at the most recent purchase price and

other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Short term financial assets are measured at transaction price less any impairment. Short term financial liabilities

are measured at transaction price.

Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the

undiscounted amount due.

Associated undertaking loans payable and receivable are measured at the undiscounted amount due as they are

deemed to be repayable on demand.

Taxation

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

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

138,669

AMORTISATION

At 1 April 2018

13,867

Charge for year

13,867

At 31 March 2019

27,734

NET BOOK VALUE

At 31 March 2019

110,935

At 31 March 2018

124,802

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

123

1,841

1,964

DEPRECIATION

At 1 April 2018

-

379

379

Charge for year

-

332

332

At 31 March 2019

-

711

711

NET BOOK VALUE

At 31 March 2019

123

1,130

1,253

At 31 March 2018

123

1,462

1,585

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by participating interests

97,022

190,632

Other debtors

47,151

106,384

144,173

297,016

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

30,412

29,015

Amounts owed to participating interests

272,444

426,863

Taxation and social security

14,372

9,261

Other creditors

6,950

16,812

324,178

481,951

8.	OTHER FINANCIAL COMMITMENTS

The company had total lease commitments at the year end of £31,700 (2018 - £31,700).

The following reproduces the text of the report prepared for the director and members 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 Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Director are not required to be filed with the Registrar of

Companies.

I confirm that as a director I have met my duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-

prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2019 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

K M Parker - Director

20 December 2019

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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Glenmeran Limited for the year ended 31 March 2019, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes 1 to 9. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's director in accordance with our terms of engagement. Our review has been undertaken so that we might state to the director those matters that we have agreed with him in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director for our work, for this report or the conclusions we have formed.

Director's responsibility for the financial statements

As explained more fully in the Director's Responsibilities Statement set out on page nine, the director is responsible for

the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review

in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review

historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on

historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have

performed additional procedures to those required under a compilation engagement. These primarily consist of making

enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the

evidence obtained. The procedures performed in a review are substantially less than those performed in an audit

conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an

audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 March 2019 and of its profit for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

-	in accordance with the requirements of the Companies Act 2006.

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

20 December 2019