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Unaudited Financial Statements |
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for the Year Ended 29 August 2020 |
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for |
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Glen Castings Holdings Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 29 August 2020 |
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for |
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Glen Castings Holdings Limited |
Glen Castings Holdings Limited (Registered number: 02085424) |
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Contents of the Financial Statements |
for the year ended 29 August 2020 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Glen Castings Holdings Limited |
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Company Information |
for the year ended 29 August 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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44 York Street |
Clitheroe |
Lancashire |
BB7 2DL |
Glen Castings Holdings Limited (Registered number: 02085424) |
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Abridged Balance Sheet |
29 August 2020 |
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29/8/20 | 29/8/19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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Retained earnings |
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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. |
Glen Castings Holdings Limited (Registered number: 02085424) |
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Abridged Balance Sheet - continued |
29 August 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Glen Castings Holdings Limited (Registered number: 02085424) |
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Notes to the Financial Statements |
for the year ended 29 August 2020 |
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1. | STATUTORY INFORMATION |
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Glen Castings Holdings Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Investment property |
Investment property comprises the freehold land and buildings at Meadow Mill. This is divided into units some of which are occupied by the Company's trading subsidiary with the remainder let out to third party tenants on an informal basis. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 1 March 2018 by Bridge & Co Chartered Surveyors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
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If the investment property were stated on an historical cost basis rather than a fair value basis its carrying amount in the accounts would be £82,500. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Glen Castings Holdings Limited (Registered number: 02085424) |
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Notes to the Financial Statements - continued |
for the year ended 29 August 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 30 August 2019 |
and 29 August 2020 |
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DEPRECIATION |
At 30 August 2019 |
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Charge for year |
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At 29 August 2020 |
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NET BOOK VALUE |
At 29 August 2020 |
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At 29 August 2019 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 30 August 2019 |
and 29 August 2020 | 2 |
NET BOOK VALUE |
At 29 August 2020 | 2 |
At 29 August 2019 | 2 |
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Glen Castings Holdings Ltd owns 100% of the issued share capital of Glen Castings Limited. |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 30 August 2019 |
and 29 August 2020 |
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NET BOOK VALUE |
At 29 August 2020 |
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At 29 August 2019 |
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7. | RESERVES |
Revaluation |
reserve |
£ |
At 30 August 2019 |
and 29 August 2020 |
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