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Company registration number: 03926288
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 OCTOBER 2025
| GLENDROVE LIMITED
GLENDROVE LIMITED |  |
COMPANY INFORMATION
Directors | Mr P F Wride
| Mrs T Wride
Company secretary | Mrs T Wride
Registered number | 03926288
Registered office | 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
Accountants | Menzies LLP
| Chartered Accountants
| 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
Bankers | Lloyds Bank PLC
| 38 London Road
| North End
| Portsmouth
| Hampshire
GLENDROVE LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 8
GLENDROVE LIMITED REGISTERED NUMBER:03926288 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 61,135 |  | 734
Investment property | 5 |  | 3,766,000 |  | 3,766,000
|  |  | 3,827,135 |  | 3,766,734
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 570 |  | 3,534 |
Cash at bank and in hand |  | 36,638 |  | 68,942 |
|  | 37,208 |  | 72,476 |
Creditors: amounts falling due within one year | 7 | (293,065) |  | (365,405) |
Net current liabilities |  |  | (255,857) |  | (292,929)
Total assets less current liabilities |  |  | 3,571,278 |  | 3,473,805
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (178,721) |  | (220,140) |
|  |  | (178,721) |  | (220,140)
Net assets |  |  | 3,392,557 |  | 3,253,665
Page 1
GLENDROVE LIMITED REGISTERED NUMBER:03926288 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
|  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 3,392,457 |  | 3,253,565
|  |  | 3,392,557 |  | 3,253,665
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:
Mr P F Wride
Director
Date: 2 January 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
GLENDROVE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
Glendrove Limited is a private company limited by shares, registered in England and Wales. The trading address of the company is Brambles Enterprise Centre, Waterberry Dr, Waterlooville PO7 7TH. 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: 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.
| 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 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. Page 3
GLENDROVE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.6 | 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, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% |
|  |  |  | Fixtures and fittings | - | 25% |
|  |  |  | Computer equipment | - | 33% |
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.
| 2.7 | Investment property
Investment property is carried at fair value determined annually by the director 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. Page 4
GLENDROVE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.8 | Debtors
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.
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 5
GLENDROVE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
3. | Employees
| The average monthly number of employees, including directors, during the year was 4 (2024 - 4).
Page 6
GLENDROVE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
4. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 November 2024 | 845 | 42,192 | 699 | 43,736
| Additions | 79,679 | 1,150 | - | 80,829
| At 31 October 2025 | 80,524 | 43,342 | 699 | 124,565
| Depreciation |  |  |  |
| At 1 November 2024 | 797 | 41,973 | 231 | 43,001
| Charge for the year on owned assets | 19,932 | 342 | 155 | 20,429
| At 31 October 2025 | 20,729 | 42,315 | 386 | 63,430
| Net book value |  |  |  |
| At 31 October 2025 | 59,795 | 1,027 | 313 | 61,135
| At 31 October 2024 | 48 | 218 | 468 | 734
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 November 2024 | 3,766,000
| At 31 October 2025 | 3,766,000
The 2025 valuations were made by the director, on an open market value for existing use basis.
Page 7
GLENDROVE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 120 | 3,120
| Prepayments and accrued income | 450 | 414
|  | 570 | 3,534
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax | 8,760 | 27,720
| Other taxation and social security | 554 | 404
| Other creditors | 274,292 | 328,534
| Accruals and deferred income | 9,459 | 8,747
|  | 293,065 | 365,405
8. | Related party transactions
| At the year end, included within creditors due under one year were amounts due to the director amounting to £271,679 (2024 - £326,639).
Page 8