GLPD Property Limited Accounts






GLPD Property Limited

	Company No. 07669927
		Information for Filing with The Registrar
		31 December 2025

The Directors present their report and the accounts for the year ended 31 December 2025.

Principal activities
The principal activity of the company during the year under review was letting and operating of commercial property.




Directors

The Directors who served at any time during the year were as follows:

A.I.M. Dane
P.D. Dane








































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P.D. Dane
Director
15 June 2026

at	31 December 2025
Company No.		07669927	Notes	2025	2024
				£	£
Fixed assets


	Investment property		5	5,665,000	5,375,000

				5,665,000	5,375,000
Current assets

	Debtors		6	223,704	84,254

	Cash at bank and in hand			505,427	844,996
				729,131	929,250
Creditors: Amount falling due within one year			7	(2,735,677)	(801,523)
Net current (liabilities)/assets				(2,006,546)	127,727
Total assets less current liabilities				3,658,454	5,502,727
Creditors: Amounts falling due after more than one year			8	(4,464,571)	(6,900,696)



Net liabilities				(806,117)	(1,397,969)

Capital and reserves
	Called up share capital			4	4

	Revaluation reserve		10	-	-

	Profit and loss account		10	(806,121)	(1,397,973)

Total equity				(806,117)	(1,397,969)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 15 June 2026 and signed on its behalf by:
P.D. Dane
Director
15 June 2026

for the year ended 31 December 2025

General information

GLPD Property Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 07669927

Its registered office is:

C/O Lawson 2020

Cobalt 3.1 Silver Fox Way

Newcastle Upon Tyne

NE27 0QJ

The accounts have been prepared in accordance and comply with FRS 102 and Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Going concern

The directors have assessed the Balance Sheet and forecasted cash flows covering a period of 12 months from the date of approval these financial statements. The directors note that the Company has net assets of (£806,117). The Company is supported through loans from a company under common control. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. In addition, the bank loans have been extended for repayment by a further 12 months. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Accounting policies

Revenue recognition

The turnover shown in the profit and loss account represents rental income, which is recognised on a straight line basis over the term of the lease. Incentives to sign an operating lease are similarly spread on a straight line basis over the term of the lease.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

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

Investment property is not depreciated.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Employee benefits

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3	Employees
			2025	2024
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Taxation
		(a) Tax on profit on ordinary activities	2025	2024
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Charge for the period	57,566	53,281

		Total corporation tax	57,566	53,281





		Tax on profit on ordinary activities	57,566	53,281

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The differences are reconciled below:
		Lower	2025	2024
		-104789	£	£
		Profit on ordinary activities before tax	649,418	(5,126,813)

		Standard rate of corporation tax in the United Kingdom	25%	25%

		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	162,355	(1,281,703)
		Expenses not deductible for tax purposes	(104,789)	1,334,984




		Tax on profit on ordinary activities	57,566	53,281

5	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 January 2025	5,375,000

		Revaluation	290,000

		At 31 December 2025	5,665,000

		The historical cost of assets included in investment property held at valuation is £10,817,906 (2024: £10,817,906). An independent valuation of the investment property portfolio was carried out by Knight Frank LLP on 23 September 2024 and the fair value above is based on this. However, following a sale of one property post year end the valuation has been reflected at the balance sheet date. The directors have appraised the fair value of the investment at the balance sheet date, and believe the valuation is still appropriate as at 31 December 2025 in relation to the other properties.

6	Debtors
			2025	2024
			£	£
		Trade debtors	47,263	-
		Amounts owed by group undertakings	3,000	3,000




		Other debtors	88,600	-
		Prepayments and accrued income	84,841	81,254
			223,704	84,254

7	Creditors:
		amounts falling due within one year
			2025	2024
			£	£

		Bank loans and overdrafts	2,471,124	381,057


		Trade creditors	55,107	32,478

		Taxes and social security	109,002	98,002

		Other creditors	5,000	5,000
		Accruals and deferred income	95,444	284,986
			2,735,677	801,523

		Bank and other loans are secured by fixed and floating charges over all assets of the company. The fixed charges relate to the investment properties and at the year end an amount of £2,471,124 (2024: £381,057) is secured.


		Bank and other loans are secured by fixed and floating charges over all assets of the company. The fixed charges relate to the investment properties and at the year end an amount of £2,471,124 (2024: £381,057) is secured.

8	Creditors:
		amounts falling due after more than one year
			2025	2024
			£	£

		Bank loans and overdrafts	-	2,471,124




		Other creditors	4,464,571	4,429,572

			4,464,571	6,900,696

		Liabilities repayable in more than five years after the balance sheet date




		Bank and other loans are secured by fixed and floating charges over all assets of the company. The fixed charges relate to the investment properties and at the year end an amount of £4,464,571 (2024: £6,900,696) is secured.

Share Capital

4 Ordinary shares of £1.00 each

10	Reserves
			Revaluation Reserve	Total other reserves
			£	£
		At 1 January 2024	87,094	87,094
		Movement on revaluation reserve	(87,094)	(87,094)








		Revaluation reserve - reflects the revaluation of property other than investment properties.


		Profit and loss account - includes all current and prior period retained profits and losses.

Post balance sheet events

One of the investment properties was sold on 6 March 2026, therefore the open market value received for the property has been reflected at the balance sheet date.

Related party disclosures

Key management personnel compensation

Transactions with related parties

Parent Company

The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:

GLPD Holdings Limited

The parent's registered office address is:

c/o Lawson 2020, Cobalt 3.1

Cobalt Business Park

Newcastle Upon Tyne

NE27 0QJ