REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2022 |
for |
Glenview Estates Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Fair value reserve | 13 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
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 |
PROVISIONS |
At 1 May 2021 |
and 30 April 2022 | 166,045 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2021 |
Additions |
Revaluations | 222,361 |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
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 |
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 |
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 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.22 | 30.4.21 |
value: | £ | £ |
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 |