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REGISTERED NUMBER: 00520999 (England and Wales)












GLEN ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024






GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLEN ESTATE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024







DIRECTORS: Mr B R Lucas
Mrs E S Nelson
Ms K V Lucas



REGISTERED OFFICE: 135 Westhall Road
Warlingham
Surrey
CR6 9HJ



REGISTERED NUMBER: 00520999 (England and Wales)



BANKERS: National Westminster Bank plc
12 High Street
Southampton
Hampshire
SO14 2BF

GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 640,798 685,833

CURRENT ASSETS
Stocks 5 638,075 644,002
Debtors 6 21,236 15,848
Cash at bank 113,845 125,461
773,156 785,311
CREDITORS
Amounts falling due within one year 7 (29,565 ) (33,492 )
NET CURRENT ASSETS 743,591 751,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,384,389

1,437,652

PROVISIONS FOR LIABILITIES 8 (117,475 ) (128,725 )
NET ASSETS 1,266,914 1,308,927

CAPITAL AND RESERVES
Called up share capital 9,800 9,800
Non- distributable reserves 475,184 508,934
Retained earnings 781,930 790,193
SHAREHOLDERS' FUNDS 1,266,914 1,308,927

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

BALANCE SHEET - continued
31 MAY 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 Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





Mr B R Lucas - Director


GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024


1. STATUTORY INFORMATION

Glen Estate 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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 and loss.

Work in progress
Land is valued at the lower of cost and market value.

Taxation
Taxation for the period 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 period 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.

GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Rental income
Income represents gross rents receivable from investment properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
investment Plant and
property machinery Totals
£ £ £
COST OR VALUATION
At 1 July 2023 685,660 3,319 688,979
Revaluations (45,000 ) - (45,000 )
At 31 May 2024 640,660 3,319 643,979
DEPRECIATION
At 1 July 2023 - 3,146 3,146
Charge for period - 35 35
At 31 May 2024 - 3,181 3,181
NET BOOK VALUE
At 31 May 2024 640,660 138 640,798
At 30 June 2023 685,660 173 685,833

GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Freehold
investmentPlant and
propertymachineryTotals
£   £   £   
Valuation in 199463,94863,948
Valuation in 199616,36016,360
Valuation in 19992,1642,164
Valuation in 200017,17517,175
Valuation in 200123,10023,100
Valuation in 2005266,500266,500
Valuation in 200767,13867,138
Valuation in 2010(15,000)(15,000)
Valuation in 2020245,000245,000
Valuation in 2021(48,727)(48,727)
Valuation in 2024(45,000)(45,000)
Cost48,0013,31951,320
640,6593,319643,978


The historical cost of the investment property is as follows:

20242023
£   £   
Cost48,00148,001

Investment properties were valued on an open market basis on 31 May 2024 by the directors of the company.

5. STOCKS
2024 2023
£ £
Land and work in progress 638,075 644,002

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,030 80
Other debtors 19,206 15,768
21,236 15,848

GLEN ESTATE LIMITED (REGISTERED NUMBER: 00520999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 109 299
Taxation and social security 8,286 13,333
Other creditors 21,170 19,860
29,565 33,492

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax on investment property 117,475 128,725

Deferred tax
£
Balance at 1 July 2023 128,725
Credit to Income Statement during period (11,250 )
Balance at 31 May 2024 117,475