Glencourt Properties Limited - Filleted accounts

Registered number

03481220

Glencourt Properties Limited

Filleted Accounts for the year ended

31 December 2025

Glencourt Properties Limited
Registered number:		03481220
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		-			192

Current assets
Stocks		787,381			787,381
Debtors	4	538			487
Cash at bank and in hand		277,710			238,265
		1,065,629			1,026,133

Creditors: amounts falling due within one year	5	(29,435)			(37,308)

Net current assets			1,036,194			988,825

Net assets			1,036,194			989,017

Capital and reserves
Called up share capital			30,000			30,000
Profit and loss account			1,006,194			959,017

Shareholders' funds			1,036,194			989,017

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




R Sallows
Director
Approved by the board on 9 September 2026

Glencourt Properties Limited
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	1		1


3	Tangible fixed assets
				Plant and machinery etc
£
	Cost
	At 1 January 2025			8,001
	At 31 December 2025			8,001

	Depreciation
	At 1 January 2025			7,809
	Charge for the year			192
	At 31 December 2025			8,001

	Net book value
	At 31 December 2025			-
	At 31 December 2024			192


4	Debtors	2025		2024
£			£

	Prepayments	538		487


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

	Trade creditors	1,174		1,197
	Directors loan	2,183		2,401
	Tenant Deposit	10,770		10,454
	Deferred income	2,600		8,278
	Accruals	732		732
	Taxation and social security costs	11,976		14,246
		29,435		37,308


6	Transactions with director

	As at 31 December 2025, the director R Sallows was owed £2,183 (2024 - £2,401) by the company and is included in creditors.


7	Controlling party

	The ultimate controlling party is R Sallows, the director and majority shareholder.


8	Other information

	Glencourt Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	238 Hornsey Road
	Islington
	London
	N7 7LL