Registration number: NI683010

Glenmile Properties Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Glenmile Properties Limited

(Registration number: NI683010)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Other financial assets	4	4,977,747	4,977,747
Current assets
Cash at bank and in hand		4,865	27,214
Creditors: Amounts falling due within one year	5	(5,199,187)	(4,689,879)
Net current liabilities		(5,194,322)	(4,662,665)
Net (liabilities)/assets		(216,575)	315,082
Capital and reserves
Called up share capital	6	4	4
Retained earnings		(216,579)	315,078
Shareholders' (deficit)/funds		(216,575)	315,082

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 September 2025 and signed on its behalf by:
 

......................................... Mrs Patricia Henry Director

Glenmile Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
1 Ballycregagh Road
Cloughmills
Ballymena
County Antrim
BT44 9LB

These financial statements were authorised for issue by the Board on 9 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors believe that the company will continue as a going concern and be able to realise its assets and discharge its liabilities in the normal course of business.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Glenmile Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

Glenmile Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	4,977,747	4,977,747
At 31 March 2025	4,977,747	4,977,747
Impairment
Carrying amount
At 31 March 2025	4,977,747	4,977,747

5

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	5,185,150	4,610,964
Taxation and social security		12,587	77,275
Accruals and deferred income		1,450	1,640
		5,199,187	4,689,879

Glenmile Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	4	4	4	4

7	Related party transactions

The group is taking advantage of the exemption in FRS 102 not to disclose transactions with wholly owned members within the group.

Summary of transactions with other related parties

Entity under common control

Expenditure with and payables to related parties

2025	Other related parties £
Amounts payable to related party	1,960,149

2024	Other related parties £
Amounts payable to related party	1,385,964

8	Parent and ultimate parent undertaking

The company's ultimate controlling party is the shareholders.