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REGISTERED NUMBER: 03227808 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 April 2022

for

Glenview Estates Limited

Glenview Estates Limited (Registered number: 03227808)

Contents of the Financial Statements
for the Year Ended 30 April 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glenview Estates Limited

Company Information
for the Year Ended 30 April 2022







DIRECTORS: N C Evans
Mrs A F Evans





SECRETARY: N C Evans





REGISTERED OFFICE: The Viking House
High Street
West End
Southampton
Hampshire
SO30 3DS





REGISTERED NUMBER: 03227808 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Glenview Estates Limited (Registered number: 03227808)

Balance Sheet
30 April 2022

30.4.22 30.4.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 384,258 389,122
Investments 5 26,000 26,000
Investment property 6 1,755,000 1,384,175
2,165,258 1,799,297

CURRENT ASSETS
Debtors 7 40,000 8
Cash in hand 8,876 8,132
48,876 8,140
CREDITORS
Amounts falling due within one year 8 100,737 232,518
NET CURRENT LIABILITIES (51,861 ) (224,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,113,397

1,574,919

CREDITORS
Amounts falling due after more than one
year

9

(321,291

)

(395,595

)

PROVISIONS FOR LIABILITIES 11 (33,946 ) -
NET ASSETS 1,758,160 1,179,324

CAPITAL AND RESERVES
Called up share capital 12 287,045 287,045
Fair value reserve 13 188,415 -
Retained earnings 1,282,700 892,279
SHAREHOLDERS' FUNDS 1,758,160 1,179,324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Glenview Estates Limited (Registered number: 03227808)

Balance Sheet - continued
30 April 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:





N C Evans - Director


Glenview Estates Limited (Registered number: 03227808)

Notes to the Financial Statements
for the Year Ended 30 April 2022


1. STATUTORY INFORMATION

Glenview Estates 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover
Turnover represents rents receivable during the year.

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 - 0% on land and 2% on cost of buildings

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.

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 balance sheet date.


Glenview Estates Limited (Registered number: 03227808)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small sized group. The company has therefore taken advantage of the exemptions provided by the Companies Act 2006 not to prepare group accounts.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 May 2021
and 30 April 2022 486,402
DEPRECIATION
At 1 May 2021 97,280
Charge for year 4,864
At 30 April 2022 102,144
NET BOOK VALUE
At 30 April 2022 384,258
At 30 April 2021 389,122

Glenview Estates Limited (Registered number: 03227808)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2021
and 30 April 2022 192,045
PROVISIONS
At 1 May 2021
and 30 April 2022 166,045
NET BOOK VALUE
At 30 April 2022 26,000
At 30 April 2021 26,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2021 1,384,175
Additions 148,464
Revaluations 222,361
At 30 April 2022 1,755,000
NET BOOK VALUE
At 30 April 2022 1,755,000
At 30 April 2021 1,384,175


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Amounts owed by group undertakings 40,000 -
Other debtors - 8
40,000 8

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Bank loans and overdrafts 73,087 70,798
Trade creditors - 1,708
Amounts owed to group undertakings - 120,030
Taxation and social security 26,317 26,649
Other creditors 1,333 13,333
100,737 232,518

Glenview Estates Limited (Registered number: 03227808)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.22 30.4.21
£    £   
Bank loans 321,291 395,595

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - more than 5 years 80,357 114,972

The bank loans are secured by a fixed charge over the freehold and investment properties.

The company also has offered the freehold property as a guarantee against the bank borrowings of the subsidiary company, Viking Garages Limited.

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.22 30.4.21
£    £   
Bank loans 394,378 466,393

11. PROVISIONS FOR LIABILITIES
30.4.22 30.4.21
£    £   
Deferred tax
Other timing differences 33,946 -

Deferred
tax
£   
On fair value reserve movement 33,946
Balance at 30 April 2022 33,946

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.22 30.4.21
value: £    £   
287,045 Ordinary £1 287,045 287,045

Glenview Estates Limited (Registered number: 03227808)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


13. RESERVES
Fair
value
reserve
£   
Transfer between reserves 188,415

At 30 April 2022 188,415