Glen Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01001211 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 NOVEMBER 2022

FOR

GLEN INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E M B Curtis

G J Curtis

SECRETARY:

G J Curtis

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

01001211 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

4,575

5,644

Investment property

5

1,000,000

1,000,000

1,004,575

1,005,644

CURRENT ASSETS

Debtors

6

114,244

106,651

Cash at bank

467,308

402,238

581,552

508,889

CREDITORS

Amounts falling due within one year

7

402,892

339,352

NET CURRENT ASSETS

178,660

169,537

TOTAL ASSETS LESS CURRENT LIABILITIES

1,183,235

1,175,181

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,183,135

1,175,081

SHAREHOLDERS' FUNDS

1,183,235

1,175,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 November 2022 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 21 August 2023 and were signed on its behalf by:

E M B Curtis - Director

G J Curtis - Director

1.	STATUTORY INFORMATION

Glen Investments 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 26 November 2021

226

35,710

9,910

Additions

-

-

-

At 25 November 2022

226

35,710

9,910

DEPRECIATION

At 26 November 2021

225

34,095

6,594

Charge for year

-

242

497

At 25 November 2022

225

34,337

7,091

NET BOOK VALUE

At 25 November 2022

1

1,373

2,819

At 25 November 2021

1

1,615

3,316

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 26 November 2021

4,256

5,276

55,378

Additions

-

324

324

At 25 November 2022

4,256

5,600

55,702

DEPRECIATION

At 26 November 2021

4,193

4,627

49,734

Charge for year

16

638

1,393

At 25 November 2022

4,209

5,265

51,127

NET BOOK VALUE

At 25 November 2022

47

335

4,575

At 25 November 2021

63

649

5,644

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 26 November 2021

and 25 November 2022

1,000,000

NET BOOK VALUE

At 25 November 2022

1,000,000

At 25 November 2021

1,000,000

Fair value at 25 November 2022 is represented by:

£

Valuation in 2015

388,228

Valuation in 2016

42,000

Valuation in 2017

43,000

Valuation in 2020

100,000

Cost

426,772

1,000,000

The properties were valued at fair value by the directors on 25th November 2022.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

33,761

25,807

Other debtors and prepayments

4,476

3,836

Glen Construction Company Limited

69,236

70,237

Glen Tyre Services Limited

6,771

6,771

114,244

106,651

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,355

4,206

Tax

14,985

15,123

VAT

7,448

7,270

Other creditors and accruals

34,663

13,023

Other loans

209,567

186,216

Directors' current accounts

134,874

113,514

402,892

339,352

8.	GUARANTEES

The Company's borrowing from Stroud & Swinton Mortgage Company Ltd is secured by the Freehold Deeds to Charfleets Farm, Canvey Island, Essex.

9.	OTHER LOANS

These Loans are interest free and repayable at the discretion of the Directors.

2022

2021

£

£

P E Curtis

83,945

75,695

A J Curtis

30,977

24,126

E K Wells

94,945

86,395

209,567

186,216

10.	RETAINED EARNINGS

Profit and loss

Revaluation

reserves

reserve

Total

Balance brought forward

600,982

574,099

1,175,081

Movement in year

8,054

-

8,054

Balance carried forward

£609,036

£574,099

£1,183,135