GLENDALE INTERNATIONAL LIMITED

GLENDALE INTERNATIONAL LIMITED

GLENDALE INTERNATIONAL LIMITED - Company Information

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GLENDALE INTERNATIONAL LIMITED

Company Registration Number:
02626614 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2019

Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

GLENDALE INTERNATIONAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2019

Balance sheet
Notes

GLENDALE INTERNATIONAL LIMITED

Balance sheet

As at 31 December 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 347,320 348,667
Total fixed assets: 347,320 348,667
Current assets
Stocks: 501,196 187,874
Debtors:   200,611 539,610
Cash at bank and in hand: 1,090,698 1,250,837
Total current assets: 1,792,505 1,978,321
Creditors: amounts falling due within one year: 4 (999,537) (1,046,304)
Net current assets (liabilities): 792,968 932,017
Total assets less current liabilities: 1,140,288 1,280,684
Total net assets (liabilities): 1,140,288 1,280,684
Capital and reserves
Called up share capital: 20,021 20,021
Other reserves: 9,999 9,999
Profit and loss account: 1,110,268 1,250,664
Shareholders funds: 1,140,288 1,280,684

The notes form part of these financial statements

GLENDALE INTERNATIONAL LIMITED

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 September 2020
and signed on behalf of the board by:

Name: S Barham
Status: Director

The notes form part of these financial statements

GLENDALE INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Land & buildings - 2% on cost; Plant & machinery etc. - 33% on cost and 20% on reducing balance.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies

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 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 statement of financial position date.Deferred taxDeferred 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 they are expected to apply to the reversal of the timing difference.Hire Purchase and leasing commitmentsRentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.Pension costs and other post-retirement benefitsThe company operated a defined contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GLENDALE INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

2. Employees

2019 2018
Average number of employees during the period 10 10

GLENDALE INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Tangible Assets

Total
Cost £
At 01 January 2019 474,453
Additions 8,206
At 31 December 2019 482,659
Depreciation
At 01 January 2019 125,786
Charge for year 9,553
At 31 December 2019 135,339
Net book value
At 31 December 2019 347,320
At 31 December 2018 348,667

GLENDALE INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

4. Creditors: amounts falling due within one year note

Trade creditors 239,805 270,498Taxation and social security 161,945 249,618Other creditors 597,787 526,188 999,537 1,046,304