GLENALLEN LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: NI621540

GLENALLEN LIMITED

Filleted Unaudited Financial Statements

For the year ended

30 June 2019

GLENALLEN LIMITED

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of GLENALLEN LIMITED

Period from 1 December 2018 to 30 June 2019

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the period ended 30 June 2019, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

HENRY MURRAY & COMPANY LTD. Chartered accountants

23 Church Place, Lurgan, Co. Armagh. N. Ireland BT66 6EY

3 December 2020

GLENALLEN LIMITED

Statement of Financial Position

30 June 2019

	30 Jun 19		30 Nov 18
Note	£	£	£

Current assets

Stocks		717,377	91,676
Debtors	4	186,681	6,447
Cash at bank and in hand		32,823	4
		---------	--------
		936,881	98,127

Creditors: amounts falling due within one year	5	783,932		67,973
		---------		--------
Net current assets			152,949	30,154
			---------	--------
Total assets less current liabilities			152,949	30,154

Creditors: amounts falling due after more than one year	6	155,150	30,150
		---------	--------
Net (liabilities)/assets		( 2,201)	4
		---------	--------

Capital and reserves

Called up share capital	4	4
Profit and loss account	( 2,205)	–
	-------	----
Shareholders (deficit)/funds	( 2,201)	4
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

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

GLENALLEN LIMITED

Statement of Financial Position (continued)

30 June 2019

These financial statements were approved by the board of directors and authorised for issue on 3 December 2020 , and are signed on behalf of the board by:

Mr. B Polly	Mr A Shields
Director	Director

Company registration number: NI621540

GLENALLEN LIMITED

Notes to the Financial Statements

Period from 1 December 2018 to 30 June 2019

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 6 Edward Street, Lurgan, BT66 6DB, Armagh.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised. Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Debtors

	30 Jun 19	30 Nov 18
	£	£
Other debtors	186,681	6,447
	---------	-------

5. Creditors: amounts falling due within one year

	30 Jun 19	30 Nov 18
	£	£
Trade creditors	251,211	21,635
Social security and other taxes	6,295	–
Other creditors	526,426	46,338
	---------	--------
	783,932	67,973
	---------	--------

6. Creditors: amounts falling due after more than one year

	30 Jun 19	30 Nov 18
	£	£
Other creditors	155,150	30,150
	---------	--------

7. Related party transactions

Glenallen Limited was jointly controlled by Brian Polly and Alan Shields during the year. Glenallen Limited was billed £21,343.41 for management charges by Crawfordsville Limited(a company controlled by Mr Polly) during the period to 30th June 2019. There was a balance of £ 3,343.41 due to Crawfordsville Limited at 30th June 2019. An amount of £281,478.02 was advanced by Burrenview Limited to Glenallen Limited during the period. Burrenview Limited is a company controlled by Mr Shields. There is a balance of £ 339,106.20 owing from Glenallen Limited to Burrenview Limited at 30th June 2019.