Glen Estate Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00520999 (England and Wales)

GLEN ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B R Lucas

Mrs E S Nelson

Ms K V Lucas

REGISTERED OFFICE:

135 Westhall Road

Warlingham

Surrey

CR6 9HJ

REGISTERED NUMBER:

00520999 (England and Wales)

BANKERS:

National Westminster Bank plc

12 High Street

Southampton

Hampshire

SO14 2BF

FIXED ASSETS

Tangible assets

4

2,145,029

640,798

CURRENT ASSETS

Stocks

5

138,014

638,075

Debtors

6

173,538

21,236

Cash at bank

998,798

113,845

1,310,350

773,156

CREDITORS

Amounts falling due within one year

7

(551,683

)

(29,565

)

NET CURRENT ASSETS

758,667

743,591

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,903,696

1,384,389

PROVISIONS FOR LIABILITIES

8

(118,567

)

(117,475

)

NET ASSETS

2,785,129

1,266,914

CAPITAL AND RESERVES

Called up share capital

9,800

Non- distributable reserves

1,499,000

475,184

Retained earnings

1,276,329

781,930

SHAREHOLDERS' FUNDS

2,785,129

1,266,914

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2026 and were signed on its behalf by:

Mr B R Lucas - Director

1.	STATUTORY INFORMATION

Glen Estate 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Rental income

Income represents gross rents receivable from investment properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% Reducing balance

Computer equipment

-

Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Work in progress

Land is valued at the lower of cost and market value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Financial assets

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

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

investment

Plant and

Computer

property

machinery

equipment

Totals

£

COST OR VALUATION

At 1 June 2024

640,660

3,319

-

643,979

Additions

-

5,394

Revaluations

1,023,816

-

1,023,816

Reclassification/transfer

476,184

-

476,184

At 31 May 2025

2,140,660

3,319

5,394

2,149,373

DEPRECIATION

At 1 June 2024

-

3,181

-

3,181

Charge for year

-

30

1,133

1,163

At 31 May 2025

-

3,211

1,133

4,344

NET BOOK VALUE

At 31 May 2025

2,140,660

108

4,261

2,145,029

At 31 May 2024

640,660

138

-

640,798

Cost or valuation at 30 June 2025 is represented by:

Freehold

investment

Plant and

Computer

property

machinery

Equipment

Totals

£

Valuation in 1994

63,948

Valuation in 1996

16,360

Valuation in 1999

2,164

Valuation in 2000

17,175

Valuation in 2001

23,100

Valuation in 2005

266,500

Valuation in 2007

67,138

Valuation in 2010

(15,000

)

(15,000

)

Valuation in 2020

245,000

Valuation in 2021

(48,727

)

(48,727

)

Valuation in 2024

(45,000

)

(45,000

)

Valuation in 2025

1,023,816

Cost

524,186

3,319

5,394

527,504

2,140,660

3,319

5,394

2,149,373

The historical cost of the investment property is as follows:

2025

2024

£

Cost

524,186

48,001

Investment properties were valued on an open market basis on 31 May 2025 by the directors of the company.

5.

STOCKS

2025

2024

£

Land and work in progress

138,014

638,075

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

2,030

Other debtors

171,508

19,206

173,538

21,236

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

12,378

109

Taxation and social security

505,628

8,286

Other creditors

33,677

21,170

551,683

29,565

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

Accelerated capital allowances

1,092

-

Deferred tax on investment property

117,475

118,567

117,475

Deferred tax

£

Balance at 1 June 2024

117,475

Provided during year

1,092

Balance at 31 May 2025

118,567