REGISTERED NUMBER: 04176532 (England and Wales)

GLEVUM COMMERCIALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

Mr D M Lindsey

REGISTERED OFFICE:

Chelworth Lodge

Chelworth

Cricklade

SWINDON

Wiltshire

SN6 6HB

REGISTERED NUMBER:

04176532 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Nat West Bank Plc

24-30 The Parade

SWINDON

Wiltshire

SN1 1BA

FIXED ASSETS

Property, plant and equipment

4

754,835

762,976

CURRENT ASSETS

Inventories

1,000

-

Debtors

5

685,733

698,365

Cash at bank

515,287

397,410

1,202,020

1,095,775

CREDITORS

Amounts falling due within one year

6

184,205

159,674

NET CURRENT ASSETS

1,017,815

936,101

TOTAL ASSETS LESS CURRENT LIABILITIES

1,772,650

1,699,077

CREDITORS

Amounts falling due after more than one year

7

(136,843

)

(154,565

)

PROVISIONS FOR LIABILITIES

(26,646

)

(28,597

)

NET ASSETS

1,609,161

1,515,915

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

1,609,160

1,515,914

SHAREHOLDERS' FUNDS

1,609,161

1,515,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th November 2025 and were signed by:

Mr D M Lindsey - Director

1.	STATUTORY INFORMATION

The company is a private company limited by shares and incorporated in England and Wales.

The registered office address is Chelworth Lodge, Chelworth, Cricklade, Swindon, Wiltshire, SN6 6HB.

These financial statements are presented in British Pounds (GBP) rounded to the nearest pound, which is the company's functional and presentational currency.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover

Turnover represents net invoiced sale of goods and services, 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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2024

642,929

219,887

862,816

Additions

-

18,643

18,643

At 31st March 2025

642,929

238,530

881,459

DEPRECIATION

At 1st April 2024

-

99,840

99,840

Charge for year

-

26,784

26,784

At 31st March 2025

-

126,624

126,624

NET BOOK VALUE

At 31st March 2025

642,929

111,906

754,835

At 31st March 2024

642,929

120,047

762,976

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

168,521

113,766

Amounts recoverable on contract

116,123

100,524

Other debtors

378,493

461,479

663,137

675,769

Amounts falling due after more than one year:

Other debtors

22,596

22,596

Aggregate amounts

685,733

698,365

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

31,823

32,499

Trade creditors

23,547

22,445

Taxation and social security

117,676

93,942

Other creditors

11,159

10,788

184,205

159,674

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

136,843

154,565

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

168,666

187,064

The bank loan is a legal mortgage secured on Painscott, Callow Hill, Brinkworth, Chippenham, Wiltshire and by way of fixed charge over the Company's assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2025 and 31st March 2024:

2025

2024

£

£

Mr D M Lindsey

Balance outstanding at start of year

108,030

226,763

Amounts advanced

23,719

21,267

Amounts repaid

(108,030

)

(140,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

23,719

108,030