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Registered number: 13943514 GLADE CLEARWATER LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
GLADE CLEARWATER LIMITED REGISTERED NUMBER: 13943514 BALANCE SHEET AS AT 31 DECEMBER 2024
|  |  |  | As restated
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets |  |  | 3,135,936 |  | 4,181,248
Investment property | 5 |  | 25,868,752 |  | 25,868,752
|  |  | 29,004,688 |  | 30,050,000
Current assets |  |  |  |  |
Cash at bank and in hand | 6 | 1,029,434 |  | 1,569,237 |
|  | 1,029,434 |  | 1,569,237 |
Creditors: amounts falling due within one year | 7 | (2,767,999) |  | (2,204,689) |
Net current liabilities |  |  | (1,738,565) |  | (635,452)
Total assets less current liabilities |  |  | 27,266,123 |  | 29,414,548
Creditors: amounts falling due after more than one year | 8 |  | (35,476,062) |  | (36,148,311)
Net liabilities |  |  | (8,209,939) |  | (6,733,763)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | (8,209,940) |  | (6,733,764)
|  |  | (8,209,939) |  | (6,733,763)
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GLADE CLEARWATER LIMITED REGISTERED NUMBER: 13943514 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 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 comprehensive income 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 on 3 December 2025.
Idan Moskovich
Director
The notes on pages 3 to 7 form part of these financial statements. Page 2
GLADE CLEARWATER LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Glade Clearwater Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (registration number 13943514). The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company. 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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 3
GLADE CLEARWATER LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | 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.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.5 | 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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | 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.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
GLADE CLEARWATER LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 January 2024 | 4,181,248
| At 31 December 2024 | 4,181,248
| Depreciation |
| Charge for the year on owned assets | 1,045,312
| At 31 December 2024 | 1,045,312
| Net book value |
| At 31 December 2024 | 3,135,936
| At 31 December 2023 | 4,181,248
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GLADE CLEARWATER LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 January 2024 | 25,868,752
| At 31 December 2024 | 25,868,752
The 2024 valuations were made by Knight Frank LLP, on an open market value for existing use basis.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  |  | As restated
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Historic cost | 32,211,572 | 32,211,572
|  | 32,211,572 | 32,211,572
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,029,434 | 1,569,237
|  | 1,029,434 | 1,569,237
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other loans | 1,532,824 | 1,155,516
| Other taxation and social security | 136,697 | 138,072
| Other creditors | 134,922 | 134,861
| Accruals and deferred income | 963,556 | 776,240
|  | 2,767,999 | 2,204,689
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GLADE CLEARWATER LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 15,651,047 | 16,245,000
| Other loans | 19,825,015 | 19,903,311
|  | 35,476,062 | 36,148,311
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Other loans | 1,532,824 | 1,155,516
|  | 1,532,824 | 1,155,516
| Amounts falling due 2-5 years |  |
| Bank loans | 15,651,047 | 16,245,000
| Other loans | 19,825,015 | 19,903,311
|  | 35,476,062 | 36,148,311
|  | 37,008,886 | 37,303,827
10. | Prior year adjustment
Following a capital expenditure review it was determined that £4,181,248 of the purchase price of theinvestment property purchased in the prior year in fact related to plant and machinery included within theproperty. This has therefore been reclassified. There was no impact on the profit and loss of the Company from this change.
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 3 December 2025 by Jamie Taylor (Senior statutory auditor) on behalf of Harris & Trotter LLP.
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