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REGISTERED NUMBER: 01001211 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 NOVEMBER 2023

FOR

GLEN INVESTMENTS LIMITED

GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLEN INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 25 NOVEMBER 2023







DIRECTORS: E M B Curtis
G J Curtis





SECRETARY: G J Curtis





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 01001211 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)

BALANCE SHEET
25 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,761 4,575
Investment property 5 1,400,000 1,000,000
1,403,761 1,004,575

CURRENT ASSETS
Debtors 6 116,924 114,244
Cash at bank 562,177 467,308
679,101 581,552
CREDITORS
Amounts falling due within one year 7 464,799 402,892
NET CURRENT ASSETS 214,302 178,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,618,063

1,183,235

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,617,963 1,183,135
SHAREHOLDERS' FUNDS 1,618,063 1,183,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 November 2023 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.

GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)

BALANCE SHEET - continued
25 NOVEMBER 2023


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 23 August 2024 and were signed on its behalf by:




E M B Curtis - Director



G J Curtis - Director


GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 NOVEMBER 2023

1. STATUTORY INFORMATION

Glen Investments 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 26 November 2022
and 25 November 2023 226 35,710 9,910
DEPRECIATION
At 26 November 2022 225 34,337 7,091
Charge for year - 206 423
At 25 November 2023 225 34,543 7,514
NET BOOK VALUE
At 25 November 2023 1 1,167 2,396
At 25 November 2022 1 1,373 2,819

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 26 November 2022
and 25 November 2023 4,256 5,600 55,702
DEPRECIATION
At 26 November 2022 4,209 5,265 51,127
Charge for year 12 173 814
At 25 November 2023 4,221 5,438 51,941
NET BOOK VALUE
At 25 November 2023 35 162 3,761
At 25 November 2022 47 335 4,575

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 26 November 2022 1,000,000
Revaluations 400,000
At 25 November 2023 1,400,000
NET BOOK VALUE
At 25 November 2023 1,400,000
At 25 November 2022 1,000,000

GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 NOVEMBER 2023

5. INVESTMENT PROPERTY - continued

Fair value at 25 November 2023 is represented by:
£   
Valuation in 2015 388,228
Valuation in 2016 42,000
Valuation in 2017 43,000
Valuation in 2020 100,000
Valuation in 2023 400,000
Cost 426,772
1,400,000

The properties were valued at fair value by the directors on 25th November 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,726 33,761
Other debtors and prepayments 6,191 4,476
Glen Construction Company Limited 69,236 69,236
Glen Tyre Services Limited 6,771 6,771
116,924 114,244

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,435 1,355
Tax 26,635 14,985
VAT 10,240 7,448
Other creditors and accruals 33,108 34,663
Other loans 225,657 209,567
Directors' current accounts 152,724 134,874
464,799 402,892

8. GUARANTEES

The Company's borrowing from Stroud & Swinton Mortgage Company Ltd is secured by the Freehold Deeds to Charfleets Farm, Canvey Island, Essex.

9. OTHER LOANS

These Loans are interest free and repayable at the discretion of the Directors.
2023 2022
£ £
P E Curtis 92,045 83,945
A J Curtis 30,867 30,977
E K Wells 102,745 94,945
225,657 209,567

GLEN INVESTMENTS LIMITED (REGISTERED NUMBER: 01001211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 NOVEMBER 2023

10. RETAINED EARNINGS


Profit and loss Revaluation
reserves reserve Total

Balance brought forward 609,036 574,099 1,183,135
Movement in year 34,828 400,000 434,828

Balance carried forward £643,864 £974,099 £1,617,963