1 September 2024 false No description of principal activity Taxfiler 2024.6 15041985 business:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 15041985 2024-08-31 15041985 2024-09-01 2025-08-31 15041985 business:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 15041985 business:FilletedAccounts 2024-09-01 2025-08-31 15041985 2025-08-31 15041985 2024-08-31 15041985 core:AfterOneYear 2025-08-31 15041985 core:AfterOneYear 2024-08-31 15041985 core:ShareCapital core:PreviouslyStatedAmount 2025-08-31 15041985 core:ShareCapital core:PreviouslyStatedAmount 2024-08-31 15041985 core:InvestmentPropertiesRevaluationReserve core:PreviouslyStatedAmount 2025-08-31 15041985 core:InvestmentPropertiesRevaluationReserve core:PreviouslyStatedAmount 2024-08-31 15041985 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-08-31 15041985 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-08-31 15041985 core:PreviouslyStatedAmount 2025-08-31 15041985 core:PreviouslyStatedAmount 2024-08-31 15041985 business:SmallEntities 2024-09-01 2025-08-31 15041985 business:Director1 2024-09-01 2025-08-31 15041985 countries:EnglandWales 2024-09-01 2025-08-31 15041985 business:RegisteredOffice 2024-09-01 2025-08-31 15041985 core:FurnitureFittings 2024-09-01 2025-08-31 15041985 core:FurnitureFittings 2024-08-31 15041985 core:FurnitureFittings 2025-08-31 15041985 2023-08-01 2024-08-31 iso4217:GBP xbrli:pure
Company Registration No. 15041985 (England and Wales)
GLM Property Ltd Unaudited accounts for the year ended 31 August 2025
GLM Property Ltd Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
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GLM Property Ltd Statement of financial position as at 31 August 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
6,917
8,646
Investment property
5
120,000
34,680
126,917
43,326
Current assets
Cash at bank and in hand
4,833
96
Net current assets
4,833
96
Total assets less current liabilities
131,750
43,422
Creditors: amounts falling due after more than one year
6
(52,580)
(51,464)
Provisions for liabilities
Deferred tax
(21,330)
-
Net assets/(liabilities)
57,840
(8,042)
Capital and reserves
Called up share capital
2
2
Fair value reserve
63,990
-
Profit and loss account
(6,152)
(8,044)
Shareholders' funds
57,840
(8,042)
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2026 and were signed on its behalf by
G Macdonald Director Company Registration No. 15041985
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GLM Property Ltd Notes to the Accounts for the year ended 31 August 2025
1
Statutory information
GLM Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 15041985. The registered office is c/o Hamilton Accounts Limited, Howbery Business Park, Benson Lane, Wallingford, Oxfordshire, OX10 8BA, England.
2
Compliance with accounting standards
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the provisions of FRS 102 Section 1A Small Entities.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment properties, which are properties held to earn rentals and/or for capital appreciation, are measured initially at cost (purchase price and directly attributable expenditure) and subsequently are measured using the fair value model and stated at their fair value as at the end of the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors, these properties are held primarily for their investment potential and so their fair value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS102 Section 16 "Investment Property" have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit would have been reduced by depreciation. The amount of depreciation cannot reasonably be quantified and the amount which might otherwise has been shown cannot be separately identified or quantified.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance
Turnover
Turnover represents amounts receivable for rentals and reimbursed expenses invoiced during the year.
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GLM Property Ltd Notes to the Accounts for the year ended 31 August 2025
4
Tangible fixed assets
Fixtures & fittings
£
Cost or valuation
At cost
At 1 September 2024
9,890
At 31 August 2025
9,890
Depreciation
At 1 September 2024
1,244
Charge for the year
1,729
At 31 August 2025
2,973
Net book value
At 31 August 2025
6,917
At 31 August 2024
8,646
5
Investment property
2025
£
Fair value at 1 September 2024
34,680
Net gain from fair value adjustments
85,320
At 31 August 2025
120,000
The carrying value of the investment properties held by the company have been reviewed by the directors during the year with reference to open market values who considers that the fair values at the balance sheet date are consistent with the amount stated in the accounts.
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Loans from directors
52,580
51,464
7
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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