REGISTERED NUMBER: 00513194 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Glenthorne Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs C M Fincham

REGISTERED OFFICE:

1 Favart Road

Fulham

London

SW6 4AZ

REGISTERED NUMBER:

00513194 (England and Wales)

FIXED ASSETS

Tangible assets

4

276

1,039

Investment property

5

3,850,000

3,370,000

3,850,276

3,371,039

CURRENT ASSETS

Debtors

6

11,726

1,465

Cash at bank

4,072

594,499

15,798

595,964

CREDITORS

Amounts falling due within one year

7

158,363

226,458

NET CURRENT (LIABILITIES)/ASSETS

(142,565

)

369,506

TOTAL ASSETS LESS CURRENT LIABILITIES

3,707,711

3,740,545

CREDITORS

Amounts falling due after more than one year

8

(192,948

)

(110,045

)

PROVISIONS FOR LIABILITIES

(200,750

)

(237,214

)

NET ASSETS

3,314,013

3,393,286

CAPITAL AND RESERVES

Called up share capital

2,080

2,080

Retained earnings

3,311,933

3,391,206

3,314,013

3,393,286

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

Mrs C M Fincham - Director

1.	STATUTORY INFORMATION

Glenthorne Management 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 net rents receivable by the company for the year, 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 reducing balance

Computer equipment

-

25% on straight line basis

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 or loss.

Taxation

Taxation for the year 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

6,516

849

7,365

Disposals

(3,210

)

-

(3,210

)

At 31 December 2024

3,306

849

4,155

DEPRECIATION

At 1 January 2024

5,723

603

6,326

Charge for year

30

62

92

Eliminated on disposal

(2,539

)

-

(2,539

)

At 31 December 2024

3,214

665

3,879

NET BOOK VALUE

At 31 December 2024

92

184

276

At 31 December 2023

793

246

1,039

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

3,370,000

Additions

1,188,287

Disposals

(570,000

)

Revaluations

(138,287

)

At 31 December 2024

3,850,000

NET BOOK VALUE

At 31 December 2024

3,850,000

At 31 December 2023

3,370,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

1,153,637

Cost

2,696,363

3,850,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

2,696,363

1,815,708

The investment properties were valued on an open market value basis on 31 December 2024 by the director of the company .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Prepayments and accrued income

11,726

1,465

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

5,863

2,675

Preference shares

4,160

4,160

Tax

9,496

11,278

Other creditors

126,389

203,063

Credit card

9,242

2,082

Accrued expenses

3,213

3,200

158,363

226,458

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,863

2,675

Bank loans - 2-5 years

17,589

8,025

Bank loans more 5 yr by instal

169,496

99,345

192,948

110,045

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

169,496

99,345

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

198,811

112,720

The bank loans are secured by a fixed and floating charge over the company`s investment properties, 46 Sherbrooke Road.