Gliding Investments Limited 11429648 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true false 11429648 2024-04-01 2025-03-31 11429648 2025-03-31 11429648 core:CurrentFinancialInstruments 2025-03-31 11429648 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 11429648 core:Non-currentFinancialInstruments 2025-03-31 11429648 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 11429648 core:Non-currentFinancialInstruments core:Unsecured 2025-03-31 11429648 core:AdditionsToInvestments 2025-03-31 11429648 core:CostValuation 2025-03-31 11429648 bus:SmallEntities 2024-04-01 2025-03-31 11429648 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 11429648 bus:FilletedAccounts 2024-04-01 2025-03-31 11429648 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 11429648 bus:RegisteredOffice 2024-04-01 2025-03-31 11429648 bus:Director2 2024-04-01 2025-03-31 11429648 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11429648 core:OtherRelatedParties 2024-04-01 2025-03-31 11429648 core:Subsidiary1 2024-04-01 2025-03-31 11429648 core:Subsidiary1 1 2024-04-01 2025-03-31 11429648 countries:EnglandWales 2024-04-01 2025-03-31 11429648 2024-03-31 11429648 core:CostValuation 2024-03-31 11429648 2023-04-01 2024-03-31 11429648 2024-03-31 11429648 core:CurrentFinancialInstruments 2024-03-31 11429648 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11429648 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11429648 core:Non-currentFinancialInstruments core:PreviouslyStatedAmount 2024-03-31 11429648 core:Non-currentFinancialInstruments core:Unsecured core:PreviouslyStatedAmount 2024-03-31 11429648 core:Subsidiary1 1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 11429648

Prepared for the registrar
Gliding Investments Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Gliding Investments Limited

(Registration number: 11429648)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 4 | 3,872,500 | 3,872,500
Investments | 5 | 87,674 | 85,858
|  | 3,960,174 | 3,958,358
Current assets |  |  |
Debtors | 6 | 782,662 | 794,070
Cash at bank and in hand |  | 11,650 | 95,749
|  | 794,312 | 889,819
Creditors: Amounts falling due within one year | 7 | (2,174,119) | (1,051,659)
Net current liabilities |  | (1,379,807) | (161,840)
Total assets less current liabilities |  | 2,580,367 | 3,796,518
Creditors: Amounts falling due after more than one year | 7 | (1,924,499) | (3,241,079)
Deferred tax liabilities |  | (61,875) | (51,875)
Net assets |  | 593,993 | 503,564
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Revaluation reserve |  | 185,625 | 155,625
Retained earnings |  | 408,268 | 347,839
Shareholders' funds |  | 593,993 | 503,564

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 November 2025 and signed on its behalf by:

D Nevies
Director

Gliding Investments 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 England and Wales.

The address of its registered office is:
19 Shirehall Lane
London
NW4 2PE

| 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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the rent received or receivable in respect of the investment properties in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The corporation 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Gliding Investments Limited

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Borrowings

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.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Gliding Investments Limited

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

| 4 | Investment properties

| 2025 £
At 1 April 2024 and 31 March 2025 | 3,872,500

The properties were valued at 31 August 2023, by the director. The historical costs of the properties is £3,665,000 (2024: £3,665,000).

| 5 | Investments

| 2025 £ | 2024 £
Investments in associates | 87,674 | 85,858

Associates | £
Cost
At 1 April 2024 | 85,858
Additions | 1,816
At 31 March 2025 | 87,674
Carrying amount
At 31 March 2025 | 87,674
At 31 March 2024 | 85,858

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
School Lettings Investments Limited | Suite 2 Arkleigh Mansions 194-200 Brent Street London NW4 1BJ | Ordinary | 24% | 24%

The aggregate amount of capital and reserves of School Lettings Investments Limited at the end of the period was £100.

| 6 | Debtors

| Note | 2025 £ | 2024 £
Amounts owed by related parties | 9 | 289,809 | 290,420
Other debtors |  | 487,456 | 487,456
Prepayments |  | 5,397 | 16,162
Corporation tax asset |  | - | 32
|  | 782,662 | 794,070

Gliding Investments Limited

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

| 7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 1,125,000 | -
Amounts due to related parties |  | 1,033,915 | 1,041,252
Taxation and social security |  | 4,602 | -
Accruals and deferred income |  | 3,093 | 2,898
Other creditors |  | 7,509 | 7,509
|  | 2,174,119 | 1,051,659

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 1,924,499 | 3,241,079

| 8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 1,125,000 | -

| Note | 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings |  | - | 1,250,000
Unsecured loans | 9 | 1,924,499 | 1,991,079
|  | 1,924,499 | 3,241,079

The bank loan is secured on the investment properties.
The loan notes are unsecured and are repayable in accordance with the conditions as set out in the loan note instrument. At 31 March 2025, the company owed £449,979 (2024: £456,249) to the directors and £1,474,520 (2024: £1,534,828) to other related parties in the form of loan notes.

Gliding Investments Limited

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

| 9 | Related party transactions

Summary of transactions with other related parties

At 31 March 2025, the company owed £418,063 (2024: £422,783) to a director in the form of a director's loan account. No interest was charged on this balance and there are no fixed repayment terms.
At 31 March 2025, the company owed £492,586 (2024: £493,417) to a director in the form of a director's loan account. No interest was charged on this balance and there are no fixed repayment terms.
At 31 March 2025, the company owed £123,266 (2024: £125,052) to shareholders in the form of loan accounts. No interest was charged on this balance and there are no fixed repayment terms.
At 31 March 2025, the company was owed £289,809 (2024: £290,420) by Gliding Developments Limited, a company under common control. No interest was charged on this balance and there are no fixed repayment terms.
Other transactions with related parties are included in note 9.