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REGISTERED NUMBER: 05073907 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GLENROY ESTATES LTD

GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GLENROY ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A E Brinner





SECRETARIES: I D M Stobieki
Y Lock





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 05073907 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,891 4,608
Investment property 5 14,160,262 14,142,947
14,164,153 14,147,555

CURRENT ASSETS
Debtors 6 2,462,417 3,097,833
Cash at bank 9,567 144,287
2,471,984 3,242,120
CREDITORS
Amounts falling due within one year 7 (6,205,638 ) (7,069,266 )
NET CURRENT LIABILITIES (3,733,654 ) (3,827,146 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,430,499

10,320,409

CREDITORS
Amounts falling due after more than one
year

8

(3,408,147

)

(3,500,347

)

PROVISIONS FOR LIABILITIES (434,965 ) (434,965 )
NET ASSETS 6,587,387 6,385,097

CAPITAL AND RESERVES
Called up share capital 11 100 1
Revaluation reserve 12 2,289,291 2,289,291
Retained earnings 12 4,297,996 4,095,805
SHAREHOLDERS' FUNDS 6,587,387 6,385,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 17 December 2024 and were signed by:





A E Brinner - Director


GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Glenroy Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net rent receivable, excluding value added tax.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 6,499 44,846 5,234 56,579
DEPRECIATION
At 1 April 2023 6,034 40,842 5,095 51,971
Charge for year 70 601 46 717
At 31 March 2024 6,104 41,443 5,141 52,688
NET BOOK VALUE
At 31 March 2024 395 3,403 93 3,891
At 31 March 2023 465 4,004 139 4,608

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 14,142,947
Additions 17,315
At 31 March 2024 14,160,262
NET BOOK VALUE
At 31 March 2024 14,160,262
At 31 March 2023 14,142,947

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 2,289,291
Cost 11,870,971
14,160,262

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 50,949 34,694
Other debtors 2,411,468 3,063,139
2,462,417 3,097,833

GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) - 11,576
Trade creditors 492,727 520,521
Taxation and social security 203,192 224,511
Other creditors 5,509,719 6,312,658
6,205,638 7,069,266

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 3,376,080 3,463,080
Other creditors 32,067 37,267
3,408,147 3,500,347

Amounts falling due in more than five years:

Repayable by instalments
Building Society Mortgage 3,376,080 3,463,080
Other loans more 5yrs instal 32,067 37,267
3,408,147 3,500,347

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 11,576

Amounts falling due in more than five years:

Repayable by instalments
Building Society Mortgage 3,376,080 3,463,080
Other loans more 5yrs instal 32,067 37,267
3,408,147 3,500,347

Under the bank loan, £50,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

GLENROY ESTATES LTD (REGISTERED NUMBER: 05073907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdraft - 11,576
Bank loans 3,376,080 3,463,080
3,376,080 3,474,656

The mortgage loans and bank overdrafts are secured by a first charge over the company's properties and a floating charge over the assets of the company, and bear interest at fixed rates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 1
(31.3.23 - 1 )

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 4,095,805 2,289,291 6,385,096
Profit for the year 202,191 202,191
At 31 March 2024 4,297,996 2,289,291 6,587,287