Bert Garrod Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00593292 (England and Wales)

Financial Statements for the Year Ended 31 December 2018

for

Bert Garrod Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

N A Garrod

J N Garrod

SECRETARY:

Mrs S Garrod

REGISTERED OFFICE:

4 Reading Road

Pangbourne

Reading

Berkshire

RG8 7LY

REGISTERED NUMBER:

00593292 (England and Wales)

ACCOUNTANTS:

Geoffrey Cole & Co

Chartered Accountants

4 Reading Road

Pangbourne

Reading

Berkshire

RG8 7LY

FIXED ASSETS

Tangible assets

3

4,662

5,486

Investments

4

364,144

465,150

Investment property

5

2,095,000

1,750,000

2,463,806

2,220,636

CURRENT ASSETS

Debtors

6

590,578

400,982

Cash at bank

8,836

55,637

599,414

456,619

CREDITORS

Amounts falling due within one year

7

45,374

38,509

NET CURRENT ASSETS

554,040

418,110

TOTAL ASSETS LESS CURRENT LIABILITIES

3,017,846

2,638,746

PROVISIONS FOR LIABILITIES

180,770

146,672

NET ASSETS

2,837,076

2,492,074

CAPITAL AND RESERVES

Called up share capital

132

132

Share premium

318,028

318,028

Fair value reserve

1,116,428

1,117,764

Retained earnings

1,402,488

1,056,150

SHAREHOLDERS' FUNDS

2,837,076

2,492,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 July 2019 and were signed on its behalf by:

N A Garrod - Director

1.	STATUTORY INFORMATION

Bert Garrod 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

Represents rents received, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at fair value.

Investment property

Investment property is shown at the year end valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a fair value reserve.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Listed investments

All investments are stated at market value at the balance sheet date.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

and 31 December 2018

28,041

DEPRECIATION

At 1 January 2018

22,555

Charge for year

824

At 31 December 2018

23,379

NET BOOK VALUE

At 31 December 2018

4,662

At 31 December 2017

5,486

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 January 2018

350,000

113,363

463,363

Additions

-

15,743

15,743

Disposals

-

(109,366

)

(109,366

)

At 31 December 2018

350,000

19,740

369,740

PROVISIONS

At 1 January 2018

-

(1,787

)

(1,787

)

Provision for year

-

7,383

7,383

At 31 December 2018

-

5,596

5,596

NET BOOK VALUE

At 31 December 2018

350,000

14,144

364,144

At 31 December 2017

350,000

115,150

465,150

The fair value of the company's investment in the subsidiary is considered to be equal to the cost of

the initial investment.

The subsidiary net assets at the year end are less than the inital cost of the investment but the

expected inflow of profit from future operations based on current position is expected to at least equal

the cost of the investment and thefore the directors feel the value shown represents fair value.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

1,750,000

Revaluations

345,000

At 31 December 2018

2,095,000

NET BOOK VALUE

At 31 December 2018

2,095,000

At 31 December 2017

1,750,000

The fair value of the investment property as at 31 December 2018 was £2,095,000 as given by N A

Garrod, a director. The investment property fair value movement of £345,000 was included in the profit

for the year.

6.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

-

466

Amounts owed by group undertakings

108,715

59,195

Directors' current accounts

249,980

130,187

Called up share capital not paid

159,025

159,025

Prepayments & accrued Income

1,353

1,849

519,073

350,722

Amounts falling due after more than one year:

Tax

71,505

50,260

Aggregate amounts

590,578

400,982

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

35,429

30,935

Accruals and deferred income

9,945

7,574

45,374

38,509

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2018 a director of the company owed the company £249,980 (2017 : £130,187).

During the year he introduced capital totalling £354,325 and made withdrawals totalling £474,118. The

maximum amount outstanding during the year was £298,775.

This loan is interest free and has no fixed repayment terms.

9.	RELATED PARTY DISCLOSURES

The Director in the note above is N A Garrod.