Registration number: 3087158

Glenavon Estate Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Financial Position	3 to 4
Notes to the Unaudited Financial Statements	5 to 12

Glenavon Estate Limited

Company Information

Director

Clive Meikle

Registered office

6th Floor 17a Curzon Street London W1J 5HS

Solicitors

Turcan Connell

Accountants

Morris & Young Chartered Accountants 6 Atholl Crescent PERTH PH1 5JN

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Glenavon Estate Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Glenavon Estate Limited for the year ended 31 December 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements laid down by the Institute relating to members undertaking the compilation of financial statements.

This report is made solely to the Board of Directors of Glenavon Estate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Glenavon Estate Limited and state those matters that we have agreed to state to the Board of Directors of Glenavon Estate Limited, as a body, and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glenavon Estate Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Glenavon Estate Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Glenavon Estate Limited. You consider that Glenavon Estate Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Glenavon Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

17 September 2025

Glenavon Estate Limited

(Registration number: 3087158)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	683,254	650,566
Other financial assets	5	9,375	14,063
		692,629	664,629
Current assets
Stocks	6	375,724	375,724
Debtors	7	147,665	185,100
Cash at bank and in hand		433,427	241,917
		956,816	802,741
Creditors: Amounts falling due within one year	8	(2,451,913)	(2,612,782)
Net current liabilities		(1,495,097)	(1,810,041)
Net liabilities		(802,468)	(1,145,412)
Capital and reserves
Called up share capital	9	3,006,300	3,006,300
Retained earnings		(3,808,768)	(4,151,712)
Shareholders' deficit		(802,468)	(1,145,412)

Glenavon Estate Limited

(Registration number: 3087158)
Statement of Financial Position as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 September 2025
 

......................................... Clive Meikle Director

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
6th Floor 17a
Curzon Street
London
W1J 5HS

These financial statements were authorised for issue by the director on 17 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

The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act'.

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.

The financial statements are presented in Sterling (£) and are rounded to the nearest £1.

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Going concern

Andras Limited, the parent company, has committed to supporting the company for the foreseeable future. The financial statements therefore have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than property improvements and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

Amortisation

Amortisation is charged so as to write off the cost of investments, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Amortisation method and rate
BPS Entitlements	straight line over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and on deposit.

Trade debtors

Trade debtors are amounts due from customers for goods and services performed in the ordinary course of business.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Borrowings

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Property improvements £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	590,812	246,619	103,451	940,882
Additions	5,310	56,423	-	61,733
At 31 December 2024	596,122	303,042	103,451	1,002,615
Depreciation
At 1 January 2024	-	210,035	80,281	290,316
Charge for the year	-	23,252	5,793	29,045
At 31 December 2024	-	233,287	86,074	319,361
Carrying amount
At 31 December 2024	596,122	69,755	17,377	683,254
At 31 December 2023	590,812	36,584	23,170	650,566

5	Other financial assets (current and non-current)

	BPS Entitlements £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	159,032	159,032
At 31 December 2024	159,032	159,032
Amortisation
At 1 January 2024	144,969	144,969
Amortisation	4,688	4,688
At 31 December 2024	149,657	149,657
Carrying amount
At 31 December 2024	9,375	9,375

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Other inventories	375,724	375,724

7

Debtors

Current	2024 £	2023 £
Trade debtors	12,234	112,781
Prepayments	4,233	5,461
Other debtors	131,198	66,858
	147,665	185,100

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	26,286	-
Trade creditors		48,084	113,385
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	2,365,093	2,491,493
Taxation and social security		1,188	1,156
Accruals and deferred income		11,262	6,748
		2,451,913	2,612,782

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2
Preference shares of £1 each	3,006,298	3,006,298	3,006,298	3,006,298
	3,006,300	3,006,300	3,006,300	3,006,300

10	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	26,286	-

Glenavon Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11	Related party transactions

Summary of transactions with parent

The company is a wholly owned subsidiary and is therefore exempt from disclosing transactions with its parent company.