REGISTERED NUMBER: 03201732 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2025 TO 30 SEPTEMBER 2025

FOR

GLEBE HOUSE COTTAGES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs P Brewer

N P Brewer

J Brewer

REGISTERED OFFICE:

Glebe House

Bridgerule

Holsworthy

Devon

EX22 7EW

REGISTERED NUMBER:

03201732 (England and Wales)

ACCOUNTANTS:

Barker Wilkinson Limited

19-21 Middle Row

Stevenage

Hertfordshire

SG1 3AW

FIXED ASSETS

Tangible assets

4

2,297,462

2,675,770

CURRENT ASSETS

Stocks

11,140

7,148

Debtors

5

76,305

87,279

Cash at bank and in hand

48,311

89,602

135,756

184,029

CREDITORS

Amounts falling due within one year

6

2,220,927

2,777,740

NET CURRENT LIABILITIES

(2,085,171

)

(2,593,711

)

TOTAL ASSETS LESS CURRENT LIABILITIES

212,291

82,059

CAPITAL AND RESERVES

Called up share capital

130,000

130,000

Retained earnings

82,291

(47,941

)

212,291

82,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 24 November 2025 and were signed on its behalf by:

N P Brewer - Director

1.	STATUTORY INFORMATION

Glebe House Cottages 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the directors continue to support the company by way of director funding and have not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the year ended 30th September 2025 have been prepared using the going concern basis of accounting.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation and uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Land & buildings

Land & buildings consists of a bespoke wedding barn the estimated residual of which is at least equal to original cost at which it is stated within the accounts based on current market conditions.

Revenue recognition

Revenue from accommodation charges is recognised on the date the customer occupies the rental property. All other revenue from bar and food sales is recognised on the date of the transaction.

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.

Freehold property

-

2% on cost

Land & buildings

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

10% on reducing balance

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments

The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including other debtors, cash and cash equivalents, and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Taxation

Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Assets

Freehold

under

Land &

property

construction

buildings

£

£

£

COST

At 1 March 2025

310,375

2,102,408

-

Additions

-

48,689

-

Disposals

(310,375

)

-

-

Reclassification/transfer

-

(2,151,097

)

2,151,097

At 30 September 2025

-

-

2,151,097

DEPRECIATION

At 1 March 2025

-

-

-

Charge for period

-

-

-

Eliminated on disposal

-

-

-

At 30 September 2025

-

-

-

NET BOOK VALUE

At 30 September 2025

-

-

2,151,097

At 28 February 2025

310,375

2,102,408

-

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 March 2025

128,036

440,312

2,981,131

Additions

-

15,495

64,184

Disposals

(128,036

)

-

(438,411

)

Reclassification/transfer

-

-

-

At 30 September 2025

-

455,807

2,606,904

DEPRECIATION

At 1 March 2025

21,604

283,757

305,361

Charge for period

-

25,685

25,685

Eliminated on disposal

(21,604

)

-

(21,604

)

At 30 September 2025

-

309,442

309,442

NET BOOK VALUE

At 30 September 2025

-

146,365

2,297,462

At 28 February 2025

106,432

156,555

2,675,770

Estimated residual value of freehold property and land & buildings is reviewed on an annual basis and the directors consider the residual value to be at least the cost at which they stand in the accounts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2025

£

£

Deferred tax asset

76,305

87,279

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2025

£

£

Bank loans and overdrafts

-

1,593,853

Trade creditors

215,030

591,257

Social security and other taxes

2,855

1,955

VAT

26,331

8,071

Deferred income

142,676

151,218

Directors' current accounts

222,098

430,136

Directors' loan accounts

1,605,486

-

Accrued expenses

6,451

1,250

2,220,927

2,777,740