Lower Glyn Farm Limited 09475394 false 2024-11-01 2025-10-31 2025-10-31 The principal activity of the company is the running of a glamping site in South Wales. Digita Accounts Production Advanced 6.30.9574.0 true false 09475394 2024-11-01 2025-10-31 09475394 2025-10-31 09475394 bus:OrdinaryShareClass1 2025-10-31 09475394 core:RetainedEarningsAccumulatedLosses 2025-10-31 09475394 core:ShareCapital 2025-10-31 09475394 core:CurrentFinancialInstruments 2025-10-31 09475394 core:CurrentFinancialInstruments core:WithinOneYear 2025-10-31 09475394 core:Non-currentFinancialInstruments core:AfterOneYear 2025-10-31 09475394 core:Goodwill 2025-10-31 09475394 core:ConstructionInProgressAssetsUnderConstruction 2025-10-31 09475394 core:FurnitureFittingsToolsEquipment 2025-10-31 09475394 core:LandBuildings 2025-10-31 09475394 core:MotorVehicles 2025-10-31 09475394 core:OtherPropertyPlantEquipment 2025-10-31 09475394 bus:SmallEntities 2024-11-01 2025-10-31 09475394 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 09475394 bus:FilletedAccounts 2024-11-01 2025-10-31 09475394 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 09475394 bus:RegisteredOffice 2024-11-01 2025-10-31 09475394 bus:Director1 2024-11-01 2025-10-31 09475394 bus:Director2 2024-11-01 2025-10-31 09475394 bus:OrdinaryShareClass1 2024-11-01 2025-10-31 09475394 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 09475394 bus:Agent1 2024-11-01 2025-10-31 09475394 core:Goodwill 2024-11-01 2025-10-31 09475394 core:ComputerEquipment 2024-11-01 2025-10-31 09475394 core:ConstructionInProgressAssetsUnderConstruction 2024-11-01 2025-10-31 09475394 core:FurnitureFittings 2024-11-01 2025-10-31 09475394 core:FurnitureFittingsToolsEquipment 2024-11-01 2025-10-31 09475394 core:LandBuildings 2024-11-01 2025-10-31 09475394 core:LeaseholdImprovements 2024-11-01 2025-10-31 09475394 core:MotorVehicles 2024-11-01 2025-10-31 09475394 core:OtherPropertyPlantEquipment 2024-11-01 2025-10-31 09475394 core:PlantMachinery 2024-11-01 2025-10-31 09475394 countries:EnglandWales 2024-11-01 2025-10-31 09475394 2024-10-31 09475394 core:Goodwill 2024-10-31 09475394 core:ConstructionInProgressAssetsUnderConstruction 2024-10-31 09475394 core:FurnitureFittingsToolsEquipment 2024-10-31 09475394 core:LandBuildings 2024-10-31 09475394 core:MotorVehicles 2024-10-31 09475394 core:OtherPropertyPlantEquipment 2024-10-31 09475394 2023-11-01 2024-10-31 09475394 2024-10-31 09475394 bus:OrdinaryShareClass1 2024-10-31 09475394 core:Goodwill 2024-10-31 09475394 core:ConstructionInProgressAssetsUnderConstruction 2024-10-31 09475394 core:FurnitureFittingsToolsEquipment 2024-10-31 09475394 core:LandBuildings 2024-10-31 09475394 core:MotorVehicles 2024-10-31 09475394 core:OtherPropertyPlantEquipment 2024-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09475394

Lower Glyn Farm Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 October 2025

Pages for filing with Registrar

Lower Glyn Farm Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Financial Statements | 4 to 9

Lower Glyn Farm Limited

Company Information

Directors | M Pointing M Gilson

Registered office | 1st Floor 25 King Street Bristol BS1 4PB

Registered number | 09475394

Accountant | Corrigan Accountants Limited 1st Floor 25 King Street Bristol BS1 4PB

Lower Glyn Farm Limited

(Registration number: 09475394)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | (As restated) 2024 £
Fixed assets |  |  |
Intangible assets | 4 | - | 2,800
Tangible assets | 5 | 124,069 | 131,966
|  | 124,069 | 134,766
Current assets |  |  |
Stocks |  | - | 3,300
Debtors | 6 | 3,077 | 2,529
Cash at bank and in hand |  | 5,847 | 1,005
|  | 8,924 | 6,834
Creditors: Amounts falling due within one year | 7 | (364,742) | (334,539)
Net current liabilities |  | (355,818) | (327,705)
Total assets less current liabilities |  | (231,749) | (192,939)
Creditors: Amounts falling due after more than one year | 7 | - | (7,452)
Net liabilities |  | (231,749) | (200,391)
Capital and reserves |  |  |
Called up share capital |  | 10,000 | 10,000
Profit and loss account |  | (241,749) | (210,391)
Total equity |  | (231,749) | (200,391)

Lower Glyn Farm Limited

(Registration number: 09475394)
Balance Sheet as at 31 October 2025 (continued)

For the financial year ending 31 October 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 3 July 2026 and signed on its behalf by:

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

M Gilson
Director

Lower Glyn Farm Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1 | Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB

2 | Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The directors have determined that the company will cease trading in the foreseeable future following the planned sale of its trade and assets. Accordingly, the financial statements have not been prepared on a going concern basis. Instead, the financial statements have been prepared on a basis appropriate for a company that is no longer considered a going concern, with assets stated at their estimated realisable values and liabilities recognised in full.
No provision has been made for costs associated with closure except where obligations existed at the balance sheet date.

Lower Glyn Farm Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2 | Accounting policies (continued)

Prior period adjustment
The results for the year ended 31 October 2024 have been restated from those previously reported following the identification of an error in the prior year financial statements. The error relates to the overstatement of closing stock by £15,605.
The correction of this error has resulted in an increase in cost of sales and a corresponding increase in loss of £15,605 for the year ended 31 October 2024. The comparative figures have been restated accordingly.
The impact of the prior period adjustment on the financial statements for the year ended 31 October 2024 is as follows:
• Decrease in stock: £15,605
• Increase in cost of sales: £15,605
• Decrease in capital and reserves: £15,605

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
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.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.
The cost of tangible fixed 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 over their estimated useful lives, as follows:

Improvements to property | 10% on cost
Yurt structures | 20% on cost
Tree House | 25% on cost
Plant and machinery | 20% - 33% on cost
Lake house | 4% on cost

Lower Glyn Farm Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2 | Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of a business in 2015 represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Goodwill | 10 years on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Lower Glyn Farm Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2 | Accounting policies (continued)

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Intangible fixed assets

| Goodwill £
Cost or valuation
At 1 November 2024 | 67,000
At 31 October 2025 | 67,000
Amortisation
At 1 November 2024 | 64,200
Amortisation charge | 2,800
At 31 October 2025 | 67,000
Carrying amount
At 31 October 2025 | -
At 31 October 2024 | 2,800

Lower Glyn Farm Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

5 | Tangible assets

| Improvements to property £ | Yurt structures £ | Tree house £ | Lake house £ | Plant and machinery £ | Total £
Cost or valuation
At 1 November 2024 | 17,437 | 54,089 | 3,170 | 167,057 | 70,664 | 312,417
Additions | - | - | - | - | 1,329 | 1,329
Disposals | - | - | - | - | (1,690) | (1,690)
At 31 October 2025 | 17,437 | 54,089 | 3,170 | 167,057 | 70,303 | 312,056
Depreciation
At 1 November 2024 | 11,780 | 53,285 | 2,698 | 43,343 | 69,345 | 180,451
Charge for the year | 1,744 | 241 | 288 | 6,682 | (125) | 8,830
Eliminated on disposal | - | - | - | - | (1,294) | (1,294)
At 31 October 2025 | 13,524 | 53,526 | 2,986 | 50,025 | 67,926 | 187,987
Carrying amount
At 31 October 2025 | 3,913 | 563 | 184 | 117,032 | 2,377 | 124,069
At 31 October 2024 | 5,657 | 804 | 472 | 123,714 | 1,319 | 131,966

Impairment

All assets have been assessed against net realisable value and it is determined that realisable value is higher than carrying amount so no impairment is recognised.

6 | Debtors: amounts falling due within one year

| 2025 £ | 2024 £
Trade debtors | - | 911
Prepayments | 3,077 | 1,618
| 3,077 | 2,529

Lower Glyn Farm Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

7 | Creditors

| 2025 £ | 2024 £
Bank loans and overdrafts | 5,520 | 3,083
Trade creditors | 164 | 1,220
Other creditors | 2,972 | 2,830
Accruals | 3,000 | 3,000
Directors' loan accounts | 353,086 | 324,406
| 364,742 | 334,539
Due after one year |  |
Bank loan | - | 7,452

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 10,000 | 10,000 | 10,000 | 10,000