Registered number
05306197
Glyn Management Limited
Filleted Accounts
31 March 2025
Glyn Management Limited
Registered number: 05306197
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 1,150,000 2,025,000
Current assets
Debtors 5 8,237 19,326
Cash at bank and in hand 336,977 306,894
345,214 326,220
Creditors: amounts falling due within one year 6 (1,043,960) (998,354)
Net current liabilities (698,746) (672,134)
Total assets less current liabilities 451,254 1,352,866
Provisions for liabilities (67,133) (285,883)
Net assets 384,121 1,066,983
Capital and reserves
Called up share capital 50 50
Revaluation reserve 7 979,111 979,111
Profit and loss account (595,040) 87,822
Shareholders' funds 384,121 1,066,983
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 Management 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 39168
- 39,168
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 2,025,000
Surplus on revaluation (875,000)
At 31 March 2025 1,150,000
Depreciation
At 31 March 2025 -
Net book value
At 31 March 2025 1,150,000
At 31 March 2024 2,025,000
Freehold land and buildings: 2025 2024
£ £
Historical cost 881,467 881,467
Cumulative depreciation based on historical cost - -
881,467 881,467
The freehold land and buildings were revalued in May 2025: 8 Dudley Avenue, Hordle, Lymington, SO41 0HY - £550,000; Estan House, Stopples Lane, Hordle, Lymington, SO41 0GY - £600,000. Open market valuations were carried out by Pettengells Estate Agents and Hayward Fox Estate Agents.
5 Debtors 2025 2024
£ £
Trade debtors 944 944
Other debtors 7,293 18,382
8,237 19,326
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 1,390 2,514
Taxation and social security costs 13,814 18,593
Other creditors 1,028,756 977,247
1,043,960 998,354
7 Revaluation reserve 2025 2024
£ £
At 1 April 2024 979,111 979,111
At 31 March 2025 979,111 979,111
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
FG Hayward
Loan 3,556 3,646 (3,556) 3,646
Mrs MG Hayward
Loan 1,838 3,646 (1,838) 3,646
5,394 7,292 (5,394) 7,292
9 Related party transactions 2025 2024
£ £
Glyn Residential Ltd
Associated company
Interest free loan
Amount due to the related party 1,028,755 975,094
10 Controlling party
The company is controlled by FG Hayward and Mrs MG Hayward.
11 Other information
Glyn Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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