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REGISTERED NUMBER: 01451681 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

GLEN CAWDOR LIMITED

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| GLEN CAWDOR LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JANUARY 2025

| DIRECTORS: | D G Calderhead

| F De Luca

| SECRETARY: | M Palazzo Aprile

| REGISTERED OFFICE: | 2nd Floor

| Medway Bridge House

| 1 - 8 Fairmeadow

| Maidstone

| Kent

| ME14 1JP

| REGISTERED NUMBER: | 01451681 (England and Wales)

| ACCOUNTANTS: | Crowe U.K. LLP

| 2nd Floor

| Medway Bridge House

| 1-8 Fairmeadow

| Maidstone

| Kent

| ME14 1JP

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

BALANCE SHEET

31 JANUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 980,387 |  | 1,014,905 |  |

Investments | 5 | 1,500,000 |  | 1,500,000 |  |

2,480,387 |  | 2,514,905 |  |

CURRENT ASSETS

Debtors | 6 | 322,394 |  | 397,278 |  |

Cash at bank | 575,434 |  | 645,607 |  |

897,828 |  | 1,042,885 |  |

CREDITORS

Amounts falling due within one year | 7 | 558,035 |  | 460,515 |  |

NET CURRENT ASSETS | 339,793 |  | 582,370 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,820,180 |  | 3,097,275 |  |

PROVISIONS FOR LIABILITIES | 2,194 |  | 70,800 |  |

NET ASSETS | 2,817,986 |  | 3,026,475 |  |

CAPITAL AND RESERVES

Called up share capital | 2,400,000 |  | 2,400,000 |  |

Retained earnings | 417,986 |  | 626,475 |  |

2,817,986 |  | 3,026,475 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

BALANCE SHEET - continued

31 JANUARY 2025

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 Board of Directors and authorised for issue on 24 January 2026 and were signed on its behalf by:

F De Luca - Director

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1. | STATUTORY INFORMATION

| Glen Cawdor 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.

| Going concern

| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Preparation of consolidated financial statements

| The financial statements contain information about Glen Cawdor Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable for management fees and rental income, and is shown net of VAT. Management fees and rental income are recognised in the period to which they relate.

| Tangible fixed assets

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

| Freehold buildings (excluding land) - 1% straight line

| Leasehold land and buildings - 2% straight line or over the term of the lease

| Fixtures, fittings and equipment - 15% straight line

| Motor vehicles - 25% reducing balance

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Financial instruments

| The company has elected to apply the recognition and measurement provisions of Section 11 ' Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions of the instrument.

| Basic financial assets

| Basic financial assets, which include debtors, cash and bank balances are measured at transaction price including transaction costs.

| Basic financial liabilities

| Basic financial liabilities, including creditors, and loans from group companies are recognised at transaction price.

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

2. | ACCOUNTING POLICIES - continued

| 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 balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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 4 (2024 - 6 ) .

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| Cost

| At 1 February 2024 | 1,211,023 |  | 131,431 |  | 1,342,454 |  |

| Additions | 15,000 |  | 1,603 |  | 16,603 |  |

| Disposals | (34,099 | ) | (68,746 | ) | (102,845 | ) |

| At 31 January 2025 | 1,191,924 |  | 64,288 |  | 1,256,212 |  |

| Depreciation

| At 1 February 2024 | 219,191 |  | 108,358 |  | 327,549 |  |

| Charge for year | 6,304 |  | 4,247 |  | 10,551 |  |

| Eliminated on disposal | (191 | ) | (62,084 | ) | (62,275 | ) |

| At 31 January 2025 | 225,304 |  | 50,521 |  | 275,825 |  |

| Net book value

| At 31 January 2025 | 966,620 |  | 13,767 |  | 980,387 |  |

| At 31 January 2024 | 991,832 |  | 23,073 |  | 1,014,905 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| Cost

| At 1 February 2024

| and 31 January 2025 | 1,500,000 |  |

| Net book value

| At 31 January 2025 | 1,500,000 |  |

| At 31 January 2024 | 1,500,000 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 267,672 |  | 194,151 |  |

| Amounts owed by group undertakings | - |  | 6,819 |  |

| Other debtors | 54,722 |  | 196,308 |  |

322,394 |  | 397,278 |  |

| Other debtors includes an amount of £50,942 (2024 - £26,015) due to the company from the directors.

| GLEN CAWDOR LIMITED (REGISTERED NUMBER: 01451681) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 41,124 |  | 35,091 |  |

| Amounts owed to group undertakings | 44,401 |  | - |  |

| Taxation and social security | 57,850 |  | 53,728 |  |

| Other creditors | 414,660 |  | 371,696 |  |

558,035 |  | 460,515 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 775 |  | 98,576 |  |

| Between one and five years | - |  | 9,304 |  |

| In more than five years | - |  | 72,118 |  |

775 |  | 179,998 |  |

9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| During the year the company made advances totalling £121,072 (2024 - £50,661) to the directors of the company. Repayments totalling £96,145 (2024 - £24,646) were made in respect of the advances.. The advances were repayable on demand and incurred at HMRC approved rates.

10. | RELATED PARTY DISCLOSURES

| Other debtors includes a loan due from Glen Calderhead Technologies PVT amounting to £nil (2023 - £132,672). Mr D G Calderhead has an interest in this company. This loan is interest fee and payable on demand. At the balance sheet date, the directors considered that the loan was irrecoverable and a provision for the full amount has been included in the financial statements.

11. | POST BALANCE SHEET EVENTS

| On 23 May 2025, the company sold its interest in a leasehold property for £115,000.