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Registration number: 00796880

Retail Shops (Glencora) Limited
Unaudited Filleted Financial Statements
for the Year Ended 24 June 2025

Retail Shops (Glencora) Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Retail Shops (Glencora) Limited

Company Information

Directors | Mrs R Struckett Mr R J Struckett Mr M D Struckett

Company secretary | Miss N S Budden

Registered office | 93 Aldwick Road Aldwick Bognor Road West Sussex England PO21 2NW

Accountants | Matthews Hanton Limited Chartered Certified Accountants93 Aldwick Road Bognor Regis West Sussex PO21 2NW

Retail Shops (Glencora) Limited

(Registration number: 00796880)
Balance Sheet as at 24 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 867 | 1,157
Investment property | 5 | 4,050,000 | 4,050,000
Investments | 6 | 25,010 | 25,010
|  | 4,075,877 | 4,076,167
Current assets |  |  |
Debtors | 7 | 88,608 | 62,256
Cash at bank and in hand |  | 156,836 | 154,379
|  | 245,444 | 216,635
Creditors: Amounts falling due within one year | 8 | (123,677) | (64,587)
Net current assets |  | 121,767 | 152,048
Total assets less current liabilities |  | 4,197,644 | 4,228,215
Creditors: Amounts falling due after more than one year | 8 | (600,000) | (600,000)
Provisions for liabilities |  | (495,270) | (495,270)
Net assets |  | 3,102,374 | 3,132,945
Capital and reserves |  |  |
Called up share capital | 9 | 100 | 100
Other reserves |  | 826,584 | 826,584
Retained earnings |  | 2,275,690 | 2,306,261
Shareholders' funds |  | 3,102,374 | 3,132,945

For the financial year ending 24 June 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 and 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 9 January 2026 and signed on its behalf by:

Retail Shops (Glencora) Limited

(Registration number: 00796880)
Balance Sheet as at 24 June 2025

......................................... Mrs R Struckett Director
......................................... Mr R J Struckett Director

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 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:
93 Aldwick Road
Aldwick
Bognor Road
West Sussex
PO21 2NW
England

The principal place of business is:
Cranmere House
Pook Lane
Lavant
Chichester
West Sussex
PO18 0AD
United Kingdom

These financial statements were authorised for issue by the Board on 9 January 2026.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from rents on properties.
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 tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2025

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | Not provided
Plant and Equipment | 25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2025

Trade debtors

Trade debtors are amounts due from customers for rental income due in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 25 June 2024 | 13,686 | 13,686
At 24 June 2025 | 13,686 | 13,686
Depreciation
At 25 June 2024 | 12,529 | 12,529
Charge for the year | 290 | 290
At 24 June 2025 | 12,819 | 12,819
Carrying amount
At 24 June 2025 | 867 | 867
At 24 June 2024 | 1,157 | 1,157

5 | Investment properties

| 2025 £
At 25 June | 4,050,000
At 24 June | 4,050,000

The properties have been valued by MRICS qualified surveyors.

6 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 25,010 | 25,010

Subsidiaries | £
Cost or valuation
At 25 June 2024 | 25,010
Provision
Carrying amount
At 24 June 2025 | 25,010
At 24 June 2024 | 25,010

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2025

The unlisted investments have been impaired by the hive up of the company assets to the parent company on the 16th June 2010. The directors consider that the reduced valuation is the realistic value of the investments as at 24th June 2025.

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
Retail Shops (Lowestoft) Limited | 93 Aldwick Road, Bognor Regis, West Sussex, PO21 2NW. United Kingdom | Ordinary | 100% | 100%

Subsidiary undertakings
Retail Shops (Lowestoft) Limited The principal activity of Retail Shops (Lowestoft) Limited is Dormant.

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 9,021 | 13,409
Other debtors | 79,587 | 48,847
| 88,608 | 62,256

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | - | 1,578
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 12 | 25,010 | 25,010
Taxation and social security |  | 56,310 | 4,905
Accruals and deferred income |  | 28,361 | 1,560
Other creditors |  | 13,996 | 31,534
|  | 123,677 | 64,587

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 600,000 | 600,000

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100

10 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 600,000 | 600,000

11 | Dividends

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of £2,000.00 (2024 - £Nil) per each Ordinary |  | 200,000 |  | -

Retail Shops (Glencora) Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2025

12 | Related party transactions

During the period the following transactions were undertaken with subsidiary undertakings of which Retail Shops (Glencora) Limited own 100% of the issued share capital.
At the year end Retail Shops (Lowestoft) Limited was owed by the company £25,010 (2024: £25,010).
In addition the company also had the following related party transactions.
The company paid £3,024 (2024: £1,905) to R J, M D & R C Struckett for expenses incurred.

Directors guarantees

During the period the company paid interest at 3% above base rate to Mr M & Mrs R Struckett and Mr R J Struckett on loans provided against Freehold Property, the amount of interest paid in the period was £46,451 (2024: £44,535).

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 19,646 | 15,851