GLENWOOD ENTERPRISES LIMITED
REPORT OF THE DIRECTORS AIYD
FINANCIAL STATEMEIYTS
FOR THE YEAR ENDED 31 MARCH 2025
REGISTERED NUMBER: N1018278
CHARITY COMMISSION for NORTHERN IRELAND REGISTRATION NUMBER: 104583

GLENWOOD ENTERPRISES LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Legal and Administrative Information
Report of the Directors
Report of the Independent Auditors
Statement of Financial Activities
Balance Sheet
10
Statement of Changes in Funds
Noles to the Financial Statements
12 to 19

GLENWOOD ENTERPIUSES LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS:
Mr P Shevlin
Mr J Bailie
Mr G Cullen
SECRETARY:
Mr P Shevlin
REGISTERED OFFICE-
Glenw(KTrd Busine55 Centre
57-60 Springbank Place
Dunmu
Belfast
BT170YU
REGISTRAR OF COMPANIES
NUMBER:
NIOI 8278
CHARITY COMMISSION
NORTHERN IRELAND NUMBER: 104583
AUDITORS:
Baker Till), Moone>' Moore
Chartered Certified Accountants
Statutory Audilors
17 Clarendon Road
Clarendon Dock
Belfast
BTI 3BG
SOLICITORS:
Napiers & Son5 Solicitors
1-9 Castle Arcade
High Street
Belfast
BTI 5DF
BANKERS:
Ulster Bank
Unit G, Westwood Centre
Kennedy Way
Belfast
BTI19BQ
Bank of Ireland
202 Andersonstown Road
Belfast
BTII 9EB
Page I

GLENWOOD ENTERPIUSES LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
The director5 present their report with the financial Statements of the company lor the year ended 31 March 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Glenwood Enterprises Limited is a registered charity (CCNI No. 104583) and a company limited by guarantee
(NIOI 8278). Following accepthnce b! the Charity Commission for Northern Ireland on 9, February 2016 Glenwood
Enterprises Limited was placed on the Northern Ireland Charity register.
The registered office of the company is at 57-60 Springbank Place, Dunmuny, Belf&st. BTI 7 OYU.
The directors of the company are its trustees for the purpose of charity law and throughout this report are collectively
referred to as the directors. The present directors and any past directors who served during the year are given on page 4.
The external advisors are set out on page l.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Glenwood Enterprises Limited is governed by its Memorandum and Articles of Association adopted on 20 March 1985. as
amended 14 September 2004 and further amended on 23 June 2021 to reflect current governance arrangements. In the
event of the company being wound up members are required to contribute an amount not exceeding £ l.
The Board is responsible for the overall govemance of the company. Director5 are elected or co-opted and the total
number of directors shall not be Subject to any maximum but shall not be le5S than three.
The Manager, Garry Cullen, who 15 a150 a director is responsible for the day-to-day management of the company's affairs
and for implementing the policie5 agreed by the Board of Directors.
OBJECTIVES, ACTIVITIES, AND PUBLIC BENEFIT
The principal activity of the company in the vear under review was that ola local enterprise agency.
The objectives of the charity are the promotion for the public benefit of urban regeneration in West Belfast being an area
of social and economic deprivation, by all or any of the following means-
The relief of poverty in such ways as may be thought fit:
The relief of unemployment in such ways as may be thought fil. including assistance to find eiMployment;
The advancement of education: training OT retrainin& particularly among unemployed people, and providing
unemployed people with work experience-
The provision of fmanclal assistance: lechnical assistance or business advice or consultancy in order to provide
training and employment opportunities for unemployed people in cases of financial or other charitable need through
help. (i) in setting up their own business. or (li) to exisiing businesses-
The creation of training and emplo)'meni opportunities by the provision of workspace, buildings and lor land for use
on favourable tern)s;
Develop the capacity and skills of the members of the socially and economically disadvantaged communities within
the area of benefit in such a way that they are better able to identify, and help meet their needs and to participate
more full}, in society.
The directors confinn that they have had due regard for the guidance produced on Public Benefit by the Charity
Commission for Northern Ireland.
Page 2

GLENWOOD ENTERPRISES LIMITED
REPORT OF THE DIRECTORS (Continued)
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMEIYfS AND PERFORMANCE
During this financial year Glenwood Enterprises Ltd celebrated 39 years of operation.
The charity's primary aim is to promote urban regeneration in West Belfast, addressing social and economic deprivation
through various means. These include alleviating poverty, reducing unemploymenL advancing education. It also seeks to
offer financial, technical, and business support to help individuals set up or sustain businesses, by offering workspace and
resources on favourable tenns, and empower disadvantaged communities to identify and address their needs, enhancing
their ability to engage in society.
Core Activities
Economic Activity & Reduction of Unemploi'ment
Glenwood Enterprises provides work.space at Glenwood Business Centre in the Colin NeigJ]bourhood area of West
Belfast, recognised as an area of deprivation.
Average occupancy reached 940/0. with 43 small businesses occupying units by year-end.
Letting and facilities management, overseen by Northern Property, continue to run efficiently.
Relief of Poverty
Key contributions during the year included:
£300 monthly sponsorship olthree shelves at the Social Supermarket at Footprints Women's Centre.
3. Advancing EducatlOD
Supported the upkeep of a therapy dog at Holy Evangelists Primary School in Twinbrook.
Addressing Needs of Disadvantaged Communities
The Board agreed to continue donations to West Wellbeing to £2000 pm to the Children's Art Therapy
Program and £2000 pm to the Outreach and Befriending service.
REVIEW OF BUSINESS
For the year ending 31 March 2025=
The company incurred a deficit of £28,874 (2024: £30,985).
The sole business activity remains the provision of industrial workspace on favourable terms.
Over the past five years, significant investments were made to address property dilapidations, ensuring compliance and
maintaining high occupancy levels.
The full results for the year and financial position of the charitable company are as shown in the financial Statements.
TAX STATUS
The company is limited by guarantee and has been Tecognised as a charity lor tax PUTP05e5 by HM Revenue & Customs
from 14 September 2004.
Page 3

GLENWOOD ENTERPRISES LIMITED
REPORT OF THE DIRECTORS (Continued)
FOR THE YEAR ENDED 31 MARCH 2025
RESERVES POLICY
Glenwood Enterprises has a reserves policy to maintain unrestricted funds equivalent to 12 months of charitable expenditure.
As of 31 March 2025, unrestricted reserves stood at £1,252,430 significantly exceeding the target of £204,564.
The charity plans to retain higher reserves to ensure ongoing public benefit while exploring ways to distribute
excess funds to other charitable organizations in the Colin area.
The charity remains committed to supporting suicide awarenesslprevention and education initiatives, with all donation
applications assessed individually by the Board.
PLANS FOR FUTURE PERIODS
Economic Activity & Reduction of Unemplo)'rnent
Continue offering affordable workspace and resources to tenants.
Relief of Poverty
Maintain existing initiatives and in¢￿aSe funding for local food banks
Advancing Edu¢alion
Collaborate ￿1th local schools to support educational initiatives. including breakfast and after-school clubs.
Addressing Needs of Disadvantaged Communities
Continue funding West Wellbeing and part-fund counselling services for its addictions program.
DIRECTORS AND THEIR INTERESTS
The directors shown below have held office during the whole period from l April 2024 to the date of this report -
Mr P Shevlin
Mr J Bailie
Mr G Cullen
Page 4

GLEINWOOD ENTERPRISES LIMITED
REPORT OF THE DIRECTORS (Continued)
FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF DIRECTORS, RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law
and regulations.
Company laiw requires the directors to prepare financial statements for each financial year. Under that law the directors have
elected to prepare the financial statements in accordance M'ith United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and
fair vieNTr' of the state of affairs of (he company and of the surplus or deficit of the company for that period. In preparing
those financial slatements, the directors are required to
select suitable accounting policies and then apply them consistently-
make judgements and estimates that are reasonable and prndenl:
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business.
The directors are responsible for keeping proper accounting records ￿,hICh disclose with reasonable accurac}, at any time the
financial position of the company and to enable them to ensure that the financial statements cornply with the Companies Act
?006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (a5 defined by Section 418 of the Companies Act
2006) of which the company's auditor5 are unaware, and each director ha5 taken all the steps that he ought to have taken as a
director in order to make himself aware of any relevant audit information and to establish that the company's auditors are
aware of that inforn]ation.
AUDITORS
The auditors, Baker Tilly Mooney Moore, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to
small companies.
ON BEHALF OF THE BOARD:
Gakk
Garrycullen
Nov ?8, ?0?5 09.'?4."44 GMT)
Mr G Cullen- Director
Date
1112812025
Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLENWOOD ENTERPRISES LIMITED
Opinion
We have audited the financial statements of Glenwood Enterprises Limited (the 'company'} for the year ended
31 March ?025 which comprise the Statemenl of Financial Aclivities. Balance Sheet, Statement of Changes in Funds
and Notes to the Financial Statements. including a summary of significant accounting policies. The finaiicial reporting
framework that has been applied in their preparation is applicable law, and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the company's affairs as at 31 March 20?5 and of its deficit for the year then
ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Companie5 Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)} and applicable law.
Our responsibilities under those standard5 are further described in the Auditors, responsibilities for the audit of the
financial statements section of our report. We are independent of the cotnpany in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard,
and we have fulfilled our oiher ethical responsibililies in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going ¢on¢ern
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to
you where..
the directors, use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate. or
the directors have not disclosed in the financial statements an)1 identified material uncertainties that may cast
significant doubt about the companv's ability to continue to adopt the going concern basis of accounting for a period
of at least twelve months from the date when the flnancial statements are authorised for issue.
Other information
The other inforniation comprises the infonnation included in the annual reporL including the trustees, report, other than
the financial statements and our auditor's report thereon. The directors are responsible for the other infonnation. The
other information comprises the information in the RetK)rt olthe Directors, but does not include the financial statements
and our Report of the Auditors thereon.
Our opinion on the financial statements does not cover the other information and we do not express any forn] of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing
so, consider whether the other inforniation is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If. based on the work we have performed, we
conclude that there is a material misstatement of this other inforniaiion, we are required to report that fact. We have
nothing to report in this regard.
Opinion on other matters pr¢s¢ribed by the Companies A¢1 2006
In our opinion, based on the work undertaken in the course of the audit:
the infomlation given in the Report of the Directors for the financial year for which the financial slatements are
prepared is consistent with the financial statements- and
the Report of the Directors has been prepared in accordance with applicable legal requirements.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLENWOOD ENTERPRISES LIMITED (Continued)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the Course of the audit,
we have not identified material misstatements in the Report of the Directors.
We have nothing to report in respect of the following matiers where the Companies Act 2006 requires us to report to
you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us. or
the financial statements are nol in agreement with the accountlng records and returns" or
certain disclosures of directors, remunerdtion specified by law are not made: or
we have not received all the infonnation and explanations we require for our audit- or
the directors ￿'ere not entitled to prepare the financial statements in accordance with the small companies regime and
take advantage of the small companies, exemplion from the requirement to prepare a Strategic Report or in preparing
the Report of the Directors.
Responsibilities of directors
As explained more full! in the Statement of Directors, Responsibilities set out on page five, the directors are responsible
for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the directors deterniine necessary to enable the preparation of financial statements that are free from
material misstatement. whether due to fraud or e￿0[.
In preparing the financial statements, the director5 are responsible for assessing the company's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.
Auditor5, responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
ISAS {UK} will alwavs detect a maierial misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individuall>' or in the aggregate: they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laivs and regulations. We design procedures in line
with our responsibilities, outlined above, lo delect material misstalements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecling irregularlties. including fraud is detailed below..
We considered the opportunilies and incentives that may exist ￿'1th1n the organisation for fraud and identified the
greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAS (UK), we are also
required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on
provisions of those laws and regulations that had a direct effect on the deterniination of material amounts and
disclosures in the financial statements. The key laws and regulations we considered in this context included the UK
Companies ACL Charity law and local tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material
penalty.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLENWOOD ENTERPRISES LIMITED (Continued)
Auditors, responsibilities for the audit of the financial statements- Continued
Our procedures to respond to risks identified included the following=
reviewing the financial statement disclosures and tesling to supporting documentation to assess compliance with
provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management and extemal legal counsel concerning actual and potential litigation and claims:
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud:
- reading minutes of meetings of those charged with governance;
obtained an understanding of provisions and held discussions with management to undersland the basis of recognition
or non-recognition of tax provisions- and
in addressing the risk of fraud through management ove￿Ide of controls, testing the appropriateness of journal entries
and other adjustments- assessing whether the judgements made in making accounting estimates are indicative of a
potential bias; and evaluating the business rationale of any signifjcant transactions that are unusual or outside the
nonnal course of business.
We also communicated relevant identified law5 and regulations and potential fraud risks to all engagement team
member5 and remained alert to any indications of fraud or noncompliance with laws and regulations throU￿oUt the
audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularlties, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the
more that compliance with a law or reoulaiion is removed from the events and transactions reflected in the financial
statements, a5 we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding
irregularities occurring due to fraud rather than error: as fraud involves intentional concealment, forgery, collusion,
omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forn)s part of our Report of the
Auditors.
Use of our report
This report is made solely to the company's members. as a body. in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might slate to the company's members those
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
pemitted by law, we do not accept or assume responsibility to anvone other than the company and the eoinpany's
members as a body, for our audit work, for this report, or for the opinions we have fonned.
Ein)ear Browii (Mov 28, 2025 14.37-.31 GMT,,
Eimear Brown (Senior Statutorv Auditor)
for and on behalf of Baker Tilly Mooney Moore
Statutory Auditors
17 Clarendon Road
Clarendon Dock
Belfast
Co. Antrim
BTI 3BG
Date: ..111.28]2025
Page 8

GLENWOOD ENTERPRISES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTS)
FOR THE YEAR ENDED 31 MARCH 2025
Unreslricted
Restricted
2025 Total
2024 Total
Notes
Income from:
Charitable activities
272.833
272,833
284,326
Total Income
272,833
272,833
284,326
Expendilure on:
Governance and support
97,143
97,143
74,865
Charitable Activities
204,564
204,564
240,446
Total Expenditure
301,707
301,707
315,311
Net deficit
(28,874)
(28,874)
(30,985)
Transfer between funds
13
Net movement in funds
(28.874)
(28.874)
(30,985)
Balances brought forward l April
1281J04
.528J21
2,809,625
2,840,610
Balances carried forward 31 March
1252,430
1,528,321
2,780,751
2,809,625
Page 9

GLENWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: N1018278)
BALANCE SHEET
31 MARCH 2025
31.3.25
31.3.24
Notes
FIXED ASSETS
Tangible assets
2,479217
2,481,004
CURREIYT ASSETS
Debtors
Cash at bank and in hand
69,061
281,930
56,285
291,263
350,991
347,548
CREDITORS
Amounts falling due within one year
49,457
18,927
NET CURRENT ASSETS
301,534
328,621
TOTAL ASSETS LESS CURRENT
LIABILITIES
2.780,751
2,809,625
NET ASSETS
2,780,751
2,809,625
FUNDS:
Restricted Funds
Unrestricted Funds
12
12
,528.)21
1 ?5?.430
1,528,321
1281,304
Total charity funds
2,780,751
2,809,625
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006
relating to small companies.
The financial statements were authorised for issue by the Board of Directors on
signed on its behalf by=
1112812025
. and were
fiar.r'i.fiuU£
N0x2&.2Q2xfj9￿4'44.fjmll................
Mr G Cullen- Director
Page 10

GLENWOOD ENTERPRISES LIMITED
STATEMENT OF CHANGES IN FUNDS
AS AT 31 MARCH 2025
Restricted
funds
Unrestrieted
funds
Totsl funds
Balance at l April 2023
.528.321
1,312.289
2.840.610
Deficit from financial activities
(30,985)
(30.985)
Balance at 31 March 2024
.528.321
1281.304
2,809.625
Deficit from financial activitie5
(28,874)
(28,874)
Balance at 31 March 2025
1,528J21
1252,430
2,780,751
Pagell

GLENWOOD EINTERPIUSES LIMITED
NOTES TO THE FINANCIAL STATEMElYfS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basis of preparing the financial slatem¢nts
The financial staiements of this public benefit entity have been prepared in accordance with the Accounting and
Reporting bv Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102)
(Charities SORP {FRS 102) - ?019), the Financial Reporting SLqndard applicable in the UK aiid the Republic of
Ireland (FRS 102) and the Companies Act 2006.
Financial reporting stsndard 102 - reduced disclosure eiemptions
The company has taL-en advantage of the following disclosure eiemption in preparing these financial statements,
as permitted by FRS 102 "The Financial Reporting Siandard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows.
Company Status
The charity is a company limited by guarantee. The members of the company are the trustees named on page l.
Incoming resources
Income comprises of amounts received and receivable during the year, excluding value added tax. Trading
income arises from rental income from let olunits on the industrial park, and other office charges that arise from
housing these units.
All incoming resources have been included in the Statement of Financial Activitie5 and have been recognised
when there is entitlement to the income, certainty olreceipt and it can be measured reliably.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all
costs related to the category.
Costs of raising funds are those costs incurred in attracting voluntsry income, and those incurred in trading
activities that raise funds.
Charitable expendilure comprises those costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those
costs of an indirect nature necessaTh' to support them. Togetlier with the costs associated with the
govemance arrangements of the charlty and are primarily associated with constitutional ￿]d statutory
requirements.
All costs are allocated between the eipenditure categories of the SOFA on a basis designed to reflect the use
of the resource. Costs relating to a particular activity are allocated directl}', others are apportioned on an
appropriate basis e.g. floor areas or per capita, staff costs by the time Spent and other costs by their estimated
usage.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Freehold property
Fixtures and fittings
Computer equipment
not provided
15 /0 on reducing balance
33 /0 on reducing balance
Page 12

GLENWOOD EINTERPIUSES LIMITED
NOTES TO THE FINANCIAL STATEMEIYfS- continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES- continued
Impairment
Assets not measured at fair value are reviewed for any indication thal the asset ma}, be impaired at each
balance sheet date. If such indication exists. the recovernble amount of the asset is estimated and compared to
the carrying amount. Where the carrying amounl exceeds its recoverable amount, an impairnient loss is
recognised in profit or loss unless the asset is carrled at a revalued amount where the impairn]ent loss is a
revaluation decrease.
Where zero depreciatioll of freehold buildings is appropriate
Freehold buildings are deprecialed io write down the cost less estimated residual value over their remaining
useful life by equal annual inslalments. Where buildings are mainlained to such a standard that their residual
value is not less than their cost or valualion. no depreciatlon is charged.
Taxation
There is no liability to taxation due to the charitable status.
Fund accounting
The company has various types ol funds lor which it is responsible and which require separate disclosure.
These are as follows..
(i)
Restricted Fund5
Business Development income received is designated by the funding body for specific purposes.
Such purposes are within the overall aim of the organisation.
Unreslri¢ted Funds
Funds which are expendable at the discretion of the company in furtherance of the objects of the
charity.
Pension cosls and other post-relir¢ment benefits
The company operaies a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.
Financial Instruments
The charitable company onl), has financial assets and financial liabilities of a kind that qualifv as basic financial
instruments. These are initially recognised al transaciion value and subsequently measured at their settlement
value.
Bank and Cash
Cash and cash equivalents comprise cash at bank. short-terni deposit accounts and cash in hand.
Debtors
Trade debtors are recognised at the settlement amount due after an), trade discount offered. Other debtors
include prepayments which are valued at the amount prepaid net of any trade discounts due.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably
result in the transfer of funds to a third party and the amount due to Settle the obligation can be measured or
estimated reliably. Creditors are normallv recogni5ed at their settlement amount after allom'ing for any trade
discounts due.
Page 13

GLENWOOD ENTERPIUSES LIMITED
INOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES- continued
Going concern
The accounts have been prepared on a going concem basis. The statement of financial activity shows the
compan), incurred a deficit this year of £28.874 (2024: £30,985). However: the compan>, continues to meet its
liabilities as they fall due and has strong cash and reserves balances. Having assessed the factors above: the
directors are confident that for ai least a period of 12 months from date of sign off of the financial statements,
the charity is a viable going concem.
Significant judgements and estimales
The judgements, including those involving estimates, that have been made in the process of applying the above
accounting policies that have the most significant effect on the amounts recognised in the financial statements
and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities
within the next financial year-
(i) Depreciation methods used and a55et useful lives
(li) Valuation of property
(iii) Impairnient of a55ets
The estimates and assumptions are reviewed on an ongoing basi5 considering the cu￿ent and future market
conditions.
INCOMING RESOURCES
Unrestrieted
Funds
Restricted
Funds
Totsl Funds Total Funds
2025
2024
Charitable aetivities=
Rent and service charges
Water rates
240J96
32,437
272,833
240J96
32,437
272,833
238,420
45,906
284,326
Total income
272,833
272,833
284,326
Page 14

GLENWOOD ENTERPIUSES LIMITED
INOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
RESOURCES EXPENSED- UNRESTRICTED FUNDS
Governance
and support
Charitable
activities
Total
Total
2025
2024
Rates and water
8,808
36,949
45,757
12,869
51,576
9,924
Insurance
3,861
9,008
Heat & Light
Wages, Salaries and Pension
Telephone
Advertising
Travelling
Subscriptions
Repairs and Renewals
Service Charge
Cleaning
Bad debt provision
Sundry Expenses
Legal and professional fees
Consultancy fees
Auditors, Remunerdtion
2.441
5.694
8,135
14,412
15,808
41,420
13,547
865
1339
2,627
3,244
lJ65
2,534
3,899
4,195
70
70
26
700
700
38,)86
38,586
82,767
49,125
2,949
49,125
4213
38,826
4,146
1264
6,935
6,935
3,143
3,132
3,250
3,143
3,421
3,421
44,0
127
4,125
3J75
4,125
3J75
4,750
3,470
Auditors, Remuneration-
non audit services
Donations
54,000
54,000
45,980
Bank Charges
Depreciation
250
250
283
2,065
2,065
2,387
97,143
204,564
301,707
315,311
Page 15

GLENWOOD ENTERPIUSES LIMITED
INOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
OPERATING DEFICIT
The operating deficit is stated after charging-
2025
2024
Depreciation of fixed assets
Audit fees
2,065
2,387
4,125
4,750
Auditors remuneration- non audit services
3.375
3,470
Pension costs
188
1,013
INFORMATION ON DIRECTORS AND EMPLOYEES
2025
2024
Staff costs
Wages and Salaries
Social security costs
(hher pension costs
14,099
37,398
125
3.009
188
1.013
14,412
41,420
The average number of employees during the year was l (2024: 2).
KEY MANAGEMENT PERSONNEL COMPENSATION
Compensation paid to key management personnel in the year to 31 March 2025 was £2.575 (2024: £33,784).
During the year, Garry Cullen: a5 a consultant for the company received a fee of £44,000 (2024: £Nil).
Fee paid in respect of services provided beyond the role as Trustee.
PENSION SCHEME
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from
those of the company in an independently administered fund. Contributions payable for the year are charged in the
profit and loss account.
Page 16

GLENWOOD ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS- Continued
FOR THE YEAR ENDED 31 MARCH 2025
TANGIBLE FIXED ASSETS
Freehold
Property
Fixtures &
Fitlings
Computer
equipmenl
Totsls
Cost
At l April 2024
Additions
2.730.634
263.559
2,168
2,996J61
278
278
Disposals
At 31 March ?025
2,730,634
263,559
2,446
2,996,639
Depreeialion:
At l April 2024
Charge for period
At 31 March 2025
250,681
1,932
1,710
133
252J91
2,065
252,613
1,843
254,456
Impairment:
At l April 2024
Disposals
At 31 March 2025
262,966
262,966
262,966
262,966
NET BOOK VALUE
Al 31 March 2025
2,467.668
10,946
603
2,479217
At J l March 2024
2,467.668
12.878
458
2,481,004
DEBTORS
2025
2024
Trade debtors
Other debtors
28,095
40,966
54,587
,698
69,061
56,285
Page 17

GLENWOOD ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS- Continued
FOR THE YEAR ENDED 31 MARCH 2025
CREDITORS: amounts falling due within one year
2025
2024
Trade creditors
Taxation and social security
Accruals
758
334
48J65
6,463
4,504
7,960
49,457
18,927
io.
RELATED PARTY DISCLOSURES
During the year. Gary Cullen, a director of the company received remuneration of £2,575 (2024.. £33,784).
Remuneration paid in respect of services provided beyond the role as Trustee.
During the year, Garry Cullen. a5 a consultant for the company received a fee of £44,000 (2024.. £Nil}. Fee paid
in respect of services provided beyond the role as Trustee.
No expenses were paid in respect of any director during the year (2024: £nil).
ii.
INCOME AIYD EXPENDITURE SUMMARY
2025
2024
Gross Income
272,833
284,326
R¢sour¢es Expenditure
Charitable activities
Governance and support costs
204,564
97,143
301,707
240,446
74,865
315,311
Deficit for the year
(28,874)
(30,985)
The above reflects the Income and Expenditure account as required by the Companies Act 2006 as opposed to
that required under the Stalemenl of Recommended Praclice as detsiled on page 9.
Total income comprise5 £nil for restricted funds and £272,833 for unrestricted funds. A detailed analysis of
income is provided in note ?
The Income and Expenditure Summary is derived from the Statement of Financial Activities on page 9 which
together with the notes to the accounts on pages 12 - 19 provides full inforniation on the movements during the
year on all funds of the charity-
Page 18

GLEINWOOD ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS- eonlinued
FOR THE YEAR ENDED 31 MARCH 2025
12.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible
Assets
Current
Assets
Current
Liabilities
At 31 At31 March
March 2025
2024
Restricted funds..
1,528.321
,528,321
1,528,321
Unrestricted funds:
950,896
350,991
(49,457)
1252,430
1,281,304
Total funds:
2,479217
350,991
49,457
2,780,751
2,809,625
13.
TRANSFER BETWEEN FUNDS
There were no transfers between restricted and unrestricted funds in the current year.
14.
COMPANY LIMITED BY GUARAKfEE
Glenwood Enterprises Limited is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as May be required not exceeding £ I to the
assets of the charitable company in the event of its being wound up while he or she is a member or within one
year after he or she ceases to be a member.
Page 19