REGISTERED NUMBER: 02786260 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Gladebrook Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D A J Allen

Mrs P L Pollock

Mrs C A Allen

SECRETARY:

Mr D A J Allen

REGISTERED OFFICE:

8 Hadleigh Drive

LINCOLN

Lincolnshire

LN6 7HW

REGISTERED NUMBER:

02786260 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

Virgin Money

124 High Street

SCUNTHORPE

North Lincolnshire

DN15 6ES

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

1,190,000

1,325,000

1,190,000

1,325,000

CURRENT ASSETS

Debtors

1,897

1,928

Cash at bank

287,537

105,657

289,434

107,585

CREDITORS

Amounts falling due within one year

520,130

361,519

NET CURRENT LIABILITIES

(230,696

)

(253,934

)

TOTAL ASSETS LESS CURRENT LIABILITIES

959,304

1,071,066

PROVISIONS FOR LIABILITIES

160,573

184,968

NET ASSETS

798,731

886,098

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

6

798,711

886,078

SHAREHOLDERS' FUNDS

798,731

886,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 August 2025 and were signed on its behalf by:

Mrs C A Allen - Director

Mrs P L Pollock - Director

1.	STATUTORY INFORMATION

Gladebrook 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 rental income excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Investment properties

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.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

Current asset investments

Current asset investments relate to investment properties which have been sold following the year end.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Deferred tax is not recognised when assets are revalued, unless by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains and losses expected to arise on sale, or where assets have been sold and it is expected that the taxable gain will be rolled over into a replacement asset.

Operating lease agreements

Rental income from operating leases are recognised on a straight line basis over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

18,536

DEPRECIATION

At 1 April 2024

and 31 March 2025

18,536

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,325,000

Additions

36,000

Disposals

(210,000

)

Revaluations

39,000

At 31 March 2025

1,190,000

NET BOOK VALUE

At 31 March 2025

1,190,000

At 31 March 2024

1,325,000

The historical cost of the investment properties is £330,866 (2024: £294,866).

If the properties were to be sold at the revalued amount there would be an additional charge to corporation tax of £160,573 (2024: £184,968).

If depreciation had been charged on historical cost the cumulative depreciation would be £181,060 (2024: 175,043).

All of the investment properties are rented out under operating leases. The rental income received from operating leases totalled £103,675 (2024: £104,899).

The investment properties were valued by the Directors in 2025 on an open market value basis, based on comparison with similar properties in the local area.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

859,134

Cost

330,866

1,190,000

6.

RESERVES

Retained

earnings

£

At 1 April 2024

886,078

Profit for the year

34,633

Dividends

(122,000

)

At 31 March 2025

798,711

Included within reserves is an amount of £698,561 (2024: £803,088) which relates to an upward revaluation of investment properties. This amount does not represent distributable reserves.

7.	RELATED PARTY DISCLOSURES

The company is related to Brook Developments UK Limited by virtue of the fact that Mr D A J Allen, Mrs C A Allen and Mrs P L Pollock are directors and 100% shareholders.

Included in creditors is an amount owed to Brook Developments UK Limited of £413,322 (2024: £253,862)

The above balance is unsecured and interest free.

Included in turnover is a management charge of £25,000 (2024: £25,000) received from Brook Developments UK Limited.