| Glyn Residential Limited |
| Registered number: |
03734209 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
1,212,500 |
|
|
1,900,000 |
|
| Current assets |
| Debtors |
5 |
|
1,030,254 |
|
|
975,724 |
|
| Creditors: amounts falling due within one year |
6 |
|
(54,504) |
|
|
(54,495) |
|
| Net current assets |
|
|
|
975,750 |
|
|
921,229 |
|
| Total assets less current liabilities |
|
|
|
2,188,250 |
|
|
2,821,229 |
|
|
| Provisions for liabilities |
|
|
|
(181,428) |
|
|
(353,303) |
|
|
| Net assets |
|
|
|
2,006,822 |
|
|
2,467,926 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Revaluation reserve |
7 |
|
|
322,978 |
|
|
322,978 |
| Profit and loss account |
|
|
|
1,682,844 |
|
|
2,143,948 |
|
| Shareholders' funds |
|
|
|
2,006,822 |
|
|
2,467,926 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| F Hayward |
| Director |
| Approved by the board on 21 May 2025 |
|
| Glyn Residential Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Tangible fixed assets |
|
Investment property is initially recognised at cost and subsequently remeasured to fair value at each reporting date. Fair value is based on the selling price of similar properties in the same condition and age as the property being valued. Any aggregate surplus or deficit arising from changes in fair value are charged or credited to profit or loss. |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Exceptional items |
2025 |
|
2024 |
| £ |
£ |
|
Prior Year Adjustment |
|
In specie dividends used to clear associated company loan in 2017 |
|
Glyn Residential (Domiciliary) Ltd |
18650 |
|
|
|
|
|
|
|
- |
|
18,650 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2024 |
1,900,000 |
|
Surplus on revaluation |
(687,500) |
|
At 31 March 2025 |
1,212,500 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
1,212,500 |
|
At 31 March 2024 |
1,900,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
486,788 |
|
486,788 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
486,788 |
|
486,788 |
|
|
|
|
|
|
|
|
|
|
The freehold land and buildings were revalued in May 2025: 6 Dudley Avenue, Hordle, Lymington, SO41 0HY - £575,000; 17 Lavender Road, Hordle, Lymington, SO41 0GF - £637,500. Open market valuations were carried out by Pettengells Estate Agents and Hayward Fox Estate Agents. |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
1,364 |
|
1,364 |
|
Other debtors |
1,028,890 |
|
974,360 |
|
|
|
|
|
|
1,030,254 |
|
975,724 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
748 |
|
882 |
|
Taxation and social security costs |
17,106 |
|
16,962 |
|
Other creditors |
36,650 |
|
36,651 |
|
|
|
|
|
|
54,504 |
|
54,495 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April 2024 |
322,978 |
|
322,978 |
|
|
At 31 March 2025 |
322,978 |
|
322,978 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
2025 |
|
2024 |
| £ |
£ |
|
Glyn Management Ltd |
|
Associated company |
|
Interest free loan |
|
Amount due from the related party |
1,028,755 |
|
975,094 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Controlling party |
|
|
The company is controlled by FG Hayward and Mrs MG Hayward. |
|
|
| 10 |
Other information |
|
|
Glyn Residential Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
34 Ringwood Road |
|
Walkford |
|
Christchurch |
|
Dorset |
|
BH23 5RD |