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REGISTERED NUMBER: 07287300 (England and Wales)















Financial Statements for the Year Ended 28 December 2023

for

Glenwood Homes Limited

Glenwood Homes Limited (Registered number: 07287300)

Contents of the Financial Statements
for the Year Ended 28 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glenwood Homes Limited

Company Information
for the Year Ended 28 December 2023







DIRECTOR: N J Jarvis



REGISTERED OFFICE: Como House
Warwick Road
Hampton Wick
Kingston upon Thames
Surrey
KT1 4DW



REGISTERED NUMBER: 07287300 (England and Wales)



ACCOUNTANTS: Fallows & Company Accountants & Business Advisors
Nightingale House
46/48 East Street
Epsom
Surrey
KT17 1HQ



BANKERS: National Westminster Bank plc
5 Market Place
Kingston upon Thames
Surrey
KT1 1JX

Glenwood Homes Limited (Registered number: 07287300)

Balance Sheet
28 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 9,852,452 6,752,593
Cash at bank 34,328 17,121
9,886,780 6,769,714
CREDITORS
Amounts falling due within one year 5 6,460,771 3,791,996
NET CURRENT ASSETS 3,426,009 2,977,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,426,009

2,977,718

CREDITORS
Amounts falling due after more than one
year

6

2,684,807

2,252,184
NET ASSETS 741,202 725,534

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 741,102 725,434
SHAREHOLDERS' FUNDS 741,202 725,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Glenwood Homes Limited (Registered number: 07287300)

Balance Sheet - continued
28 December 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 director and authorised for issue on 25 September 2024 and were signed by:





N J Jarvis - Director


Glenwood Homes Limited (Registered number: 07287300)

Notes to the Financial Statements
for the Year Ended 28 December 2023


1. STATUTORY INFORMATION

Glenwood Homes 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.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,134 1,134
Other debtors 9,312,937 6,441,888
VAT 10,334 9,209
Prepayments and accrued income 528,047 300,362
9,852,452 6,752,593

Glenwood Homes Limited (Registered number: 07287300)

Notes to the Financial Statements - continued
for the Year Ended 28 December 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,649 10,649
Trade creditors 30,998 29,574
Tax 3,675 8,641
Other creditors 6,048,168 3,402,292
Directors' current accounts 314,381 288,070
Accrued expenses 52,900 52,770
6,460,771 3,791,996

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 2,681,186 2,238,773
Bank loans - 2-5 years 3,621 13,411
2,684,807 2,252,184

7. RELATED PARTY DISCLOSURES

Included within Debtors (note 6) are amounts owed by the following companies, of which N J Jarvis is also a director:

2023 2022
£ £
Glenwood Homes (UPR) Limited 5,094,675 4,909,551
Diadem Homes Limited 2,982,801 321,790
Glenwood Homes (Oxshott) Limited 3,723 3,723
Glenwood Investments Limited 56,505 172,999
Glenwood Residential Limited 661,503 625,076
Glenwood Homes (Surbiton) Limited 405,352 -
Glenwood Homes (Cricket Way) Limited 104,740 -

Included within Creditors (note 7) are amounts owed to the following companies of which N J Jarvis is also a director:
2023 2022
£ £
Glenwood Homes (Hornbeams) Limited 969 969
Glenwood Homes (Surrey) Limited 4,635,373 1,973,550
Latimer Homes Limited 1,375,059 1,389,506

'Other debtors' includes the sum of £1,387 (2022: £1,387) owed by Diadem UK Ltd of which A C E Dines & C E Dines, who are related to N Jarvis, are directors.

'Other creditors' includes the sum of £36,767 (2022: £38,267) owed to Ashton Developments Ltd of which S J Dines, who is related to N Jarvis, is a director.

Glenwood Homes Limited (Registered number: 07287300)

Notes to the Financial Statements - continued
for the Year Ended 28 December 2023


8. ULTIMATE CONTROLLING PARTY

N J Jarvis is the ultimate controlling party.