ACCOUNTS - Final Accounts preparation

Registered number: 15933891

GLAN PROPERTY

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

GLAN PROPERTY

REGISTERED NUMBER: 15933891

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		2025
Note		£

Fixed assets
Investments			200
Investment property			380,000
			380,200
Current assets
Debtors: amounts falling due within one year	7	63,574
		63,574
Creditors: amounts falling due within one year	8	(475,283)
Net current (liabilities)/assets			(411,709)
Total assets less current liabilities			(31,509)

Net (liabilities)/assets			(31,509)

Capital and reserves
Called up share capital	10	100
Investment property reserve	11	9,339
Profit and loss account	11	(40,948)
		(31,509)

Page 1

GLAN PROPERTY

REGISTERED NUMBER: 15933891

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2025

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 comprehensive income 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 on 5 May 2026.

................................................

Lloyd Powell

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

GLAN PROPERTY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

1.	General information

Glan Property Ltd, 15933891, is a private limited company, limited by shares, incorporated in England and Wales, with its registered office at Glanmiheli, Kerry, Newtown, Powys SY16 4LN.

The principal activity of the company is property rental.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

GLAN PROPERTY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

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

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.5

Current and deferred taxation

The tax expense for the period 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 balance sheet 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 balance sheet 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 balance sheet date.

2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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

GLAN PROPERTY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

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

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.

2.10

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.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and will be based on historical experience and are for the current year based on expectations or future events that are believed to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future, The resulting accounting estimates will, by definition, seldom equal the actual results. In the opinion of the director there are no estimates not assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilites within the next financial year.

Employees

The average monthly number of employees, including directors, during the period was 1.

Page 5

GLAN PROPERTY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	200
	At 30 September 2025	200

6.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	367,548
	Surplus on revaluation	12,452
	At 30 September 2025	380,000

The 2025 valuations were made by Eddisons, on an open market value basis.

	If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
					2025
					£

	Historic cost	367,548
		367,548

Page 6

GLAN PROPERTY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

Debtors

					2025
					£


	Amounts owed by group undertakings	12,374
	Prepayments and accrued income	40,663
	Deferred taxation	10,537
		63,574

8.	Creditors: Amounts falling due within one year
		2025
		£

	Bank overdrafts	760
	Trade creditors	467,715
	Directors loan account	5,058
	Accruals and deferred income	1,750
		475,283

9.	Deferred taxation

		2025
		£

	Charged to the profit or loss	10,537
	At end of year	10,537

	The deferred tax asset is made up as follows:
					2025
					£

	Tax losses carried forward	13,650
	Gain on revaluation of investment property	(3,113)
		10,537

Page 7

GLAN PROPERTY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

10.	Share capital
		2025
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

11.

Reserves

Investment property revaluation reserve

The investment property revaluation reserve is the surplus to market valuation at the balance sheet date compared with the historic cost.

Profit and loss account

The profit and loss accounts represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

Page 8