REGISTERED NUMBER: 00800115 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2025

for

Glansevern Properties Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R M Pothecary

Mr D P Goodwin

REGISTERED OFFICE:

First Floor Offices

The Old Bakery

Lewes Road

Forest Row

East Sussex

RH18 5HD

REGISTERED NUMBER:

00800115 (England and Wales)

ACCOUNTANTS:

Sigma Partners

Delmon House

36-38 Church Road

Burgess Hill

West Sussex

RH15 9AE

FIXED ASSETS

Tangible assets

4

4,114

5,183

Investments

5

81,535

111,083

Investment property

6

12,237,244

11,402,044

12,322,893

11,518,310

CURRENT ASSETS

Stocks

2,252,135

2,252,635

Debtors

7

697,762

930,645

Cash at bank and in hand

1,091,163

870,016

4,041,060

4,053,296

CREDITORS

Amounts falling due within one year

8

1,697,975

1,799,196

NET CURRENT ASSETS

2,343,085

2,254,100

TOTAL ASSETS LESS CURRENT LIABILITIES

14,665,978

13,772,410

PROVISIONS FOR LIABILITIES

316,187

210,000

NET ASSETS

14,349,791

13,562,410

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

361,535

361,535

Non distributable reserves

1,297,843

990,643

Retained earnings

12,690,313

12,210,132

SHAREHOLDERS' FUNDS

14,349,791

13,562,410

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd December 2025 and were signed on its behalf by:

Mr R M Pothecary - Director

1.	STATUTORY INFORMATION

Glansevern Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Investment properties have been valued on the basis of a 5% rental yield, which the directors consider to be reasonable in the current market.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Computer equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2024

67,780

47,987

115,767

Additions

-

889

889

At 31st March 2025

67,780

48,876

116,656

DEPRECIATION

At 1st April 2024

67,780

42,804

110,584

Charge for year

-

1,958

1,958

At 31st March 2025

67,780

44,762

112,542

NET BOOK VALUE

At 31st March 2025

-

4,114

4,114

At 31st March 2024

-

5,183

5,183

5.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Other investments not loans

81,535

111,083

Additional information is as follows:

Other

investments

£

COST OR VALUATION

At 1st April 2024

984

Revaluations

(48

)

At 31st March 2025

936

NET BOOK VALUE

At 31st March 2025

936

At 31st March 2024

984

Cost or valuation at 31st March 2025 is represented by:

Other

investments

£

Valuation in 2022

(12

)

Valuation in 2023

118

Valuation in 2024

168

Valuation in 2025

(48

)

Cost

710

936

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Investment Freehold Ground Rents Cost/Valuation B/Fwd

110,099

112,499

Investment Freehold Ground Rent disposals

(29,500

)

(2,400

)

80,599

110,099

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

11,402,044

Additions

528,000

Revaluations

307,200

At 31st March 2025

12,237,244

NET BOOK VALUE

At 31st March 2025

12,237,244

At 31st March 2024

11,402,044

Fair value at 31st March 2025 is represented by:

£

Valuation in 2018

(46,854

)

Valuation in 2019

(40,320

)

Valuation in 2020

14,400

Valuation in 2021

550,493

Valuation in 2022

86,534

Valuation in 2023

124,800

Valuation in 2024

291,112

Valuation in 2025

307,200

Cost

10,949,879

12,237,244

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

10,949,879

10,421,879

Investment property was valued on a rental yield basis on 31st March 2025 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

119,639

173,883

Amounts owed by group undertakings

159,949

146,665

Other debtors

418,174

610,097

697,762

930,645

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,309

7,700

Amounts owed to group undertakings

1,479,586

1,479,466

Taxation and social security

86,926

171,657

Other creditors

126,154

140,373

1,697,975

1,799,196

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

£

Mr R M Pothecary

Balance outstanding at start of year

439,382

448,278

Amounts advanced

8,950

9,437

Amounts repaid

(215,841

)

(18,333

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

232,491

439,382

Mr D P Goodwin

Balance outstanding at start of year

(1,634

)

-

Amounts advanced

1,648

-

Amounts repaid

-

(1,634

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14

(1,634

)

10.	ULTIMATE CONTROLLING PARTY

The controlling party is London & Thames Counties Securities Ltd.

The ultimate controlling party is Mr R M Pothecary.