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REGISTERED NUMBER: 01085097 (England and Wales)

















Glenvern Investment Co. Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






Glenvern Investment Co. Limited (Registered number: 01085097)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glenvern Investment Co. Limited

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr P Read
Mr D Read
Mr M Read
Mrs S J Agar
Mrs S V Read





REGISTERED OFFICE: Beck Garth
Humbleton
East Yorkshire
HU11 4NL





REGISTERED NUMBER: 01085097 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Glenvern Investment Co. Limited (Registered number: 01085097)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,135,000 4,135,100

CURRENT ASSETS
Debtors 5 5,732 11,309
Cash at bank 110,865 143,274
116,597 154,583
CREDITORS
Amounts falling due within one year 6 450,813 527,410
NET CURRENT LIABILITIES (334,216 ) (372,827 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,800,784

3,762,273

PROVISIONS FOR LIABILITIES 339,603 339,622
NET ASSETS 3,461,181 3,422,651

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 2,296,392 2,296,392
Retained earnings 1,164,689 1,126,159
SHAREHOLDERS' FUNDS 3,461,181 3,422,651

Glenvern Investment Co. Limited (Registered number: 01085097)

BALANCE SHEET - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





Mr P Read - Director


Glenvern Investment Co. Limited (Registered number: 01085097)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Glenvern Investment Co. 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 represents the value of rents receivable.

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 - not depreciated
Fixtures and fittings - 25% on reducing balance

No depreciation is calculated on Freehold Land. Depreciation on Freehold Buildings is calculated so as to write off the cost less the residual value over the useful economic life of the building to the business. The company's policy on the maintenance of buildings is such that the directors expect the residual values of the buildings to be equal to or greater than the cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

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

Glenvern Investment Co. Limited (Registered number: 01085097)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 4,135,000 10,864 4,145,864
DEPRECIATION
At 1 May 2023 - 10,764 10,764
Charge for year - 100 100
At 30 April 2024 - 10,864 10,864
NET BOOK VALUE
At 30 April 2024 4,135,000 - 4,135,000
At 30 April 2023 4,135,000 100 4,135,100

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2016 2,146,815 - 2,146,815
Valuation in 2019 107,500 - 107,500
Valuation in 2021 171,180 - 171,180
Valuation in 2022 45,500 - 45,500
Valuation in 2023 165,000 - 165,000
Cost 1,499,005 10,864 1,509,869
4,135,000 10,864 4,145,864

If freehold properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,499,005 1,499,005

Value of land in freehold land and buildings 3,970,000 3,970,000

Freehold properties were valued on an open market basis on 30 April 2022 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,039 10,642
Prepayments 693 667
5,732 11,309

Glenvern Investment Co. Limited (Registered number: 01085097)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Receipts in advance 10,478 10,060
Amounts owed to group undertakings 424,957 499,323
Tax 10,098 11,095
VAT 1,465 3,632
Accruals 3,815 3,300
450,813 527,410

7. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 2,296,392

8. ULTIMATE CONTROLLING PARTY

The parent undertaking of the group of undertakings of which the company is a member is the Read Family Group Limited, a company registered in England & Wales. The Read Family Group Limited is the company's ultimate parent company which is controlled by the directors.