Glenstone Reit Plc

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glenstone reit plc Company Information

Live

MatureMidDeclining

Company Number

00986343

Website

www.glenstoneproperty.co.uk

Registered Address

6 duke street, london, W1U 3EN

Industry

Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

Telephone

02083921726

Next Accounts Due

September 2024

Group Structure

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Directors

Christopher Powell12 Years

Benjamin Green12 Years

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Shareholders

richard lawrence blake 20.7%

providencia investments limited 17.9%

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glenstone reit plc Estimated Valuation

£120.2m

Pomanda estimates the enterprise value of GLENSTONE REIT PLC at £120.2m based on Net Assets of £121.4m and 0.99x industry multiple (adjusted for liquidity).

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Glenstone Reit Plc is a live company located in london, W1U 3EN with a Companies House number of 00986343. It operates in the other letting and operating of own or leased real estate sector, SIC Code 68209. Founded in August 1970, it's largest shareholder is richard lawrence blake with a 20.7% stake. Glenstone Reit Plc is a mature, mid sized company, Pomanda has estimated its turnover at £8.7m with declining growth in recent years.

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Pomanda's financial health check has awarded Glenstone Reit Plc a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

7 Strong

2 Regular

3 Weak

Size

annual sales of £8.7m, make it larger than the average company (£800.8k)

Growth

3 year (CAGR) sales growth of -6%, show it is growing at a slower rate (1.9%)

EXPORT

Glenstone Reit Plc's latest turnover from March 2023 is £8.7 million and the company has net assets of £121.4 million. According to their latest financial statements, Glenstone Reit Plc has 11 employees and maintains cash reserves of £2.5 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Turnover	8,655,863	9,062,532	8,923,166	10,550,350	9,935,861	10,214,499	13,030,537	5,011,563	5,331,017	5,644,359	6,154,897	5,556,977	5,505,663	7,466,614
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,239,850	1,491,533	1,729,437	1,482,649	1,408,693	1,998,252	3,259,714	273,500	207,221	371,840	857,209	362,363	288,468	1,928,813
Gross Profit	7,416,013	7,570,999	7,193,729	9,067,701	8,527,168	8,216,247	9,770,823	4,738,063	5,123,796	5,272,519	5,297,688	5,194,614	5,217,195	5,537,801
Admin Expenses	1,716,691	-5,413,632	6,121,196	4,870,526	3,385,206	1,071,284	435,085	550,569	-342,709	444,801	850,230	937,038	-288,148	551,631
Operating Profit	5,699,322	12,984,631	1,072,533	4,197,175	5,141,962	7,144,963	9,335,738	4,187,494	5,466,505	4,827,718	4,447,458	4,257,576	5,505,343	4,986,170
Interest Payable	1,490,937	1,453,758	1,484,832	1,614,766	1,482,401	1,631,964	1,662,710	853,789	891,384	687,691	741,546	716,864	716,739	976,297
Interest Receivable	140,590	121,476	260,779	162,467	361,631	483,307	2,524	705	0	0	0	6,308	802	136
Pre-Tax Profit	4,085,961	14,650,781	380,579	2,744,876	4,021,192	5,996,306	18,139,925	4,282,903	4,416,915	4,140,027	3,705,912	3,547,020	4,789,406	4,010,009
Tax	-26,469	-22,195	-49,548	-27,730	13,669	-29,350	-49,596	0	0	-106,211	-103,462	-40,865	-49,981	-1,592,358
Profit After Tax	4,059,492	14,628,586	331,031	2,717,146	4,034,861	5,966,956	18,090,329	4,282,903	4,416,915	4,033,816	3,602,450	3,506,155	4,739,425	2,417,651
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	1,622,835
Retained Profit	4,059,492	14,628,586	330,002	2,689,422	4,101,278	5,949,516	17,950,661	4,282,903	4,416,915	1,202,396	506,252	373,083	1,728,639	-166,073
Employee Costs	916,067	869,901	862,251	1,013,793	1,375,662	1,454,468	1,164,127	895,496	992,352	654,121	860,712	749,124	755,220	734,832
Number Of Employees	11	11	12	12	15	16	14	6	6	7	7	7	7	7
EBITDA*	5,707,126	13,002,105	1,101,676	4,213,813	5,162,915	7,162,973	9,371,554	4,214,297	5,493,952	4,855,414	4,473,280	4,278,336	5,524,638	5,006,277

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Tangible Assets	1,322,332	1,531,154	229,152	270,887	301,978	46,290	41,463	40,263	67,066	63,946,856	67,084,821	72,615,819	72,105,676	78,874,795
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	141,926,195	150,308,046	130,041,500	155,651,297	152,855,600	144,387,324	150,779,713	62,127,500	61,238,000	0	0	0	0	0
Debtors (Due After 1 year)	920,746	749,586	3,623,510	758,175	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	144,169,273	152,588,786	133,894,162	156,680,359	153,157,578	144,433,614	150,821,176	62,167,763	61,305,066	63,946,856	67,084,821	72,615,819	72,105,676	78,874,795
Stock & work in progress	569,130	0	0	1,512,951	2,959,327	2,570,139	2,231,842	0	0	0	0	0	0	0
Trade Debtors	691,160	1,334,779	1,782,625	1,440,810	879,083	833,289	1,211,532	289,464	148,561	828,026	565,550	483,406	332,187	173,108
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	1,411,623	2,582,772	4,379,553	929,621	1,171,965	3,201,564	2,304,576	798,711	706,318	26,286	41,759	33,255	40,364	39,949
Cash	2,468,133	4,854,070	3,659,179	100,148	1,377,668	3,623,470	747,501	69,147	1,967,548	101,238	79,851	17,533	21,575	53,776
misc current assets	0	0	7,651,495	0	0	0	0	0	0	0	419,000	250,000	317,000	420,000
total current assets	5,140,046	8,771,621	17,472,852	3,983,530	6,388,043	10,228,462	6,495,451	1,157,322	2,822,427	955,550	1,106,160	784,194	711,126	686,833
total assets	149,309,319	161,360,407	151,367,014	160,663,889	159,545,621	154,662,076	157,316,627	63,325,085	64,127,493	64,902,406	68,190,981	73,400,013	72,816,802	79,561,628
Bank overdraft	0	0	0	0	0	0	6,102,016	746,149	61,431	821,620	18,503,978	875,348	410,578	1,238,400
Bank loan	0	0	0	56,813	9,500,000	0	0	0	0	0	0	0	0	0
Trade Creditors	319,619	316,754	391,168	159,129	295,309	126,401	244,544	149,426	110,344	1,375,592	1,549,865	1,368,441	1,124,789	1,298,183
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	9,000,000	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	2,820,909	3,836,739	2,423,674	2,770,635	3,021,294	3,230,227	3,323,646	1,429,147	1,934,778	572,582	529,683	480,351	651,441	1,239,690
total current liabilities	3,140,528	4,153,493	2,814,842	2,986,577	12,816,603	3,356,628	18,670,206	2,324,722	2,106,553	2,769,794	20,583,526	2,724,140	2,186,808	3,776,273
loans	24,413,861	34,227,528	34,106,500	38,485,470	24,321,557	27,000,000	27,500,000	10,500,000	12,700,000	0	0	18,500,000	13,500,000	20,000,000
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	321,732	235,832	0	0	0	518,059	993,149	1,338,143	1,616,182	15,000,000	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	24,735,593	34,463,360	34,106,500	38,485,470	24,321,557	27,518,059	28,493,149	11,838,143	14,316,182	15,000,000	0	18,500,000	13,500,000	20,000,000
total liabilities	27,876,121	38,616,853	36,921,342	41,472,047	37,138,160	30,874,687	47,163,355	14,162,865	16,422,735	17,769,794	20,583,526	21,224,140	15,686,808	23,776,273
net assets	121,433,198	122,743,554	114,445,672	119,112,536	122,355,878	123,669,388	109,972,711	49,162,220	47,704,758	47,132,612	47,607,455	52,175,873	57,129,994	55,785,355
total shareholders funds	121,433,198	122,743,554	114,445,672	119,112,536	122,355,878	123,669,388	109,972,711	49,162,220	47,704,758	47,132,612	47,607,455	52,175,873	57,129,994	55,785,355

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Operating Activities
Operating Profit	5,699,322	12,984,631	1,072,533	4,197,175	5,141,962	7,144,963	9,335,738	4,187,494	5,466,505	4,827,718	4,447,458	4,257,576	5,505,343	4,986,170
Depreciation	7,804	17,474	29,143	16,638	20,953	18,010	35,816	26,803	27,447	27,696	25,822	20,760	19,295	20,107
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-26,469	-22,195	-49,548	-27,730	13,669	-29,350	-49,596	0	0	-106,211	-103,462	-40,865	-49,981	-1,592,358
Stock	569,130	0	-1,512,951	-1,446,376	389,188	338,297	2,231,842	0	0	0	0	0	0	0
Debtors	-1,643,608	-5,118,551	6,657,082	1,077,558	-1,983,805	518,745	2,427,933	233,296	567	247,003	90,648	144,110	159,494	213,057
Creditors	2,865	-74,414	232,039	-136,180	168,908	-118,143	95,118	39,082	-1,265,248	-174,273	181,424	243,652	-173,394	1,298,183
Accruals and Deferred Income	-1,015,830	1,413,065	-346,961	-250,659	-208,933	-93,419	1,894,499	-505,631	1,362,196	42,899	49,332	-171,090	-588,249	1,239,690
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	5,742,170	19,437,112	-4,206,925	4,168,062	6,731,176	6,065,019	6,651,800	3,514,452	5,590,333	4,370,826	4,509,926	4,165,923	4,553,520	5,738,735
Investing Activities
capital expenditure	0	0	0	0	-10,110,167	11,348,724	-30,816,074	678,822	4,673,982	2,282,296	651,518	-5,851,199	7,603,934	999,721
Change in Investments	-8,381,851	20,266,546	-25,609,797	2,795,697	8,468,276	-6,392,389	88,652,213	889,500	61,238,000	0	0	0	0	0
cash flow from investments	8,381,851	-20,266,546	25,609,797	-2,795,697	-18,578,443	17,741,113	-119,468,287	-210,678	-56,564,018	2,282,296	651,518	-5,851,199	7,603,934	999,721
Financing Activities
Bank loans	0	0	-56,813	-9,443,187	9,500,000	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	-9,000,000	9,000,000	0	0	0	0	0	0	0
Long term loans	-9,813,667	121,028	-4,378,970	14,163,913	-2,678,443	-500,000	17,000,000	-2,200,000	12,700,000	0	-18,500,000	5,000,000	-6,500,000	20,000,000
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	85,900	235,832	0	0	-518,059	-475,090	-344,994	-278,039	-13,383,818	15,000,000	0	0	0	0
share issue	-5,369,848	-6,330,704	-4,996,866	-5,932,764	-5,414,788	7,747,161	42,859,830	-2,825,441	-3,844,769	-1,677,239	-5,074,670	-5,327,204	-384,000	55,951,428
interest	-1,350,347	-1,332,282	-1,224,053	-1,452,299	-1,120,770	-1,148,657	-1,660,186	-853,084	-891,384	-687,691	-741,546	-710,556	-715,937	-976,161
cash flow from financing	-16,447,962	-7,306,126	-10,656,702	-2,664,337	-232,060	-3,376,586	66,854,650	-6,156,564	-5,419,971	12,635,070	-24,316,216	-1,037,760	-7,599,937	74,975,267
cash and cash equivalents
cash	-2,385,937	1,194,891	3,559,031	-1,277,520	-2,245,802	2,875,969	678,354	-1,898,401	1,866,310	21,387	62,318	-4,042	-32,201	53,776
overdraft	0	0	0	0	0	-6,102,016	5,355,867	684,718	-760,189	-17,682,358	17,628,630	464,770	-827,822	1,238,400
change in cash	-2,385,937	1,194,891	3,559,031	-1,277,520	-2,245,802	8,977,985	-4,677,513	-2,583,119	2,626,499	17,703,745	-17,566,312	-468,812	795,621	-1,184,624

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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GLENSTONE REIT PLC group structure

Glenstone Reit Plc has 10 subsidiary companies.

Ultimate parent company

GLENSTONE REIT PLC

00986343

10 subsidiaries

CLIFFORD PROPERTY COMPANY LIMITED(THE)

00196799

LAURIE HOUSE FREEHOLD LTD

11511315

DEEMARK LIMITED

02088103

LONDON & SURREY PROPERTY HOLDINGS LIMITED

01321490

AMDALE SECURITIES LIMITED

06087717

EASTCASTLE PROPERTIES LIMITED

00501644

RAVENSTHORPE HOLDINGS LIMITED

02208772

GLENSTONE ASSET MANAGEMENT LIMITED

15788562

CENTRESHORES LIMITED

01836092

PERRYWELL HOLDINGS LIMITED

14276769

GLENSTONE REIT PLC Shareholders

richard lawrence blake	20.65%
providencia investments limited	17.86%
montet holdings limited	17.65%
blake london limited	16.84%
belanglo sl cnc centro negocios centrk comercial	15.86%
midhurst investments limited	11.14%

Glenstone Reit Plc currently has 6 directors. The longest serving directors include Mr Christopher Powell (Jan 2012) and Mr Benjamin Green (Mar 2012).

officer	country	age	start	end	role
Mr Christopher Powell	England	63 years	Jan 2012	-	Director
Mr Benjamin Green	England	50 years	Mar 2012	-	Director
Mr Adam Smith	England	43 years	Feb 2016	-	Director
Mr Adam Smith	England	43 years	Feb 2016	-	Director
Mr Rakesh Shaunak		68 years	Feb 2016	-	Director
Mr Robert Maybury	England	36 years	Apr 2021	-	Director

P&L

March 2023

turnover

8.7m

-4%

operating profit

5.7m

-56%

gross margin

85.7%

+2.55%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

March 2023

net assets

121.4m

-0.01%

total assets

149.3m

-0.07%

cash

2.5m

-0.49%

net assets

Total assets minus all liabilities

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company number

00986343

Type

Public limited with Share Capital

industry

68209 - Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

incorporation date

August 1970

accounts

Group

ultimate parent company

None

previous names

glenstone property plc (January 2022)

glenstone property investment limited (October 2008)

last accounts submitted

March 2023

address

6 duke street, london, W1U 3EN

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 39 charges/mortgages relating to glenstone reit plc. Currently there are 17 open charges and 22 have been satisfied in the past.

glenstone reit plc Company Information

glenstone reit plc Estimated Valuation

glenstone reit plc Estimated Valuation

glenstone reit plc Estimated Valuation

Glenstone Reit Plc Overview

Glenstone Reit Plc Health Check

GLENSTONE REIT PLC financials

glenstone reit plc Credit Report and Business Information

Glenstone Reit Plc Competitor Analysis

glenstone reit plc Ownership

glenstone reit plc directors

glenstone reit plc company details

glenstone reit plc Charges & Mortgages

glenstone reit plc Companies House Filings - See Documents