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Registered number: 09824617 42 GLENBOW LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 OCTOBER 2024
42 GLENBOW LIMITED REGISTERED NUMBER: 09824617 BALANCE SHEET AS AT 31 OCTOBER 2024
|  | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 906 |  | 6
Investment property | 5 |  | 278,890 |  | 745,008
|  |  | 279,796 |  | 745,014
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 91,512 |  | 1,511 |
Cash at bank and in hand | 7 | 6,643 |  | 28,491 |
|  | 98,155 |  | 30,002 |
Creditors: amounts falling due within one year | 8 | (1,933) |  | (427,811) |
Net current assets/(liabilities) |  |  | 96,222 |  | (397,809)
Total assets less current liabilities |  |  | 376,018 |  | 347,205
Creditors: amounts falling due after more than one year | 9 |  | (175,695) |  | (175,696)
Net assets |  |  | 200,323 |  | 171,509
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 200,223 |  | 171,409
|  |  | 200,323 |  | 171,509
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42 GLENBOW LIMITED REGISTERED NUMBER: 09824617 BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements 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 - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Eli Houri | Orion B Tamary
Director | Director
Date: 1 October 2025 | Date:1 October 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
42 GLENBOW LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. | General information
42 Glenbow Limited is a limited company incorporated in the United Kingdom. The registered office is 50A The Ridgeway, Golders Green, London, NW11 8QN. The principal activity during the year continued to be that of letting of an investment property. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover comprises revenue recognised by the company in respect of the rent received during the year.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Page 3
42 GLENBOW LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 20% | on cost
| 2.8 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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42 GLENBOW LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 1 November 2023 | 1,815
| Additions | 1,133
| At 31 October 2024 | 2,948
| Depreciation |
| At 1 November 2023 | 1,809
| Charge for the year on owned assets | 233
| At 31 October 2024 | 2,042
| Net book value |
| At 31 October 2024 | 906
| At 31 October 2023 | 6
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 November 2023 | 745,008
| Disposals | (466,118)
| At 31 October 2024 | 278,890
The 2024 valuations were made by the directors, on an open market value for existing use basis.
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42 GLENBOW LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 91,154 | 1,153
| Prepayments and accrued income | 358 | 358
|  | 91,512 | 1,511
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 6,643 | 28,491
|  | 6,643 | 28,491
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts due to connected company | - | 418,777
| Corporation tax | 1,493 | 6,392
| Other creditors | 200 | 200
| Accruals and deferred income | 240 | 2,442
|  | 1,933 | 427,811
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 175,695 | 175,696
|  | 175,695 | 175,696
| The bank loan is secured on one of the properties owned by the company.
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42 GLENBOW LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due after more than 5 years |  |
| Bank loans | 175,695 | 175,695
|  | 175,695 | 175,695
|  | 175,695 | 175,695
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