Bert Garrod Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00593292 (England and Wales)

Financial Statements for the Year Ended 31 December 2023

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

4

1,931

1,390

Investments

5

771,112

350,000

Investment property

6

2,635,000

2,500,000

3,408,043

2,851,390

CURRENT ASSETS

Debtors

7

934,744

979,667

Cash at bank

59

20,331

934,803

999,998

CREDITORS

Amounts falling due within one year

8

88,893

190,871

NET CURRENT ASSETS

845,910

809,127

TOTAL ASSETS LESS CURRENT LIABILITIES

4,253,953

3,660,517

PROVISIONS FOR LIABILITIES

9

400,839

367,089

NET ASSETS

3,853,114

3,293,428

CAPITAL AND RESERVES

Called up share capital

132

132

Share premium

318,028

318,028

Fair value reserve

1,857,471

1,335,109

Retained earnings

1,677,483

1,640,159

SHAREHOLDERS' FUNDS

3,853,114

3,293,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 25 April 2024 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.

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

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at fair value.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in market value is dealt with in the profit and loss account then 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.

Deferred tax on investment property is measured using the tax rates and allowances which apply to the sale of the asset. Amounts of current and deferred tax are generally recognised in the profit or loss, except when they relate to items which are recognised in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive income or equity as the case may be.

Listed investments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2023

3,605

399

4,004

Additions

1,930

-

1,930

At 31 December 2023

5,535

399

5,934

DEPRECIATION

At 1 January 2023

2,471

143

2,614

Charge for year

1,257

132

1,389

At 31 December 2023

3,728

275

4,003

NET BOOK VALUE

At 31 December 2023

1,807

124

1,931

At 31 December 2022

1,134

256

1,390

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2023

350,000

2,983

352,983

Revaluations

421,112

-

421,112

At 31 December 2023

771,112

2,983

774,095

PROVISIONS

At 1 January 2023

and 31 December 2023

-

2,983

2,983

NET BOOK VALUE

At 31 December 2023

771,112

-

771,112

At 31 December 2022

350,000

-

350,000

Cost or valuation at 31 December 2023 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2023

421,112

-

421,112

Cost

350,000

2,983

352,983

771,112

2,983

774,095

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2023

2,500,000

Revaluations

135,000

At 31 December 2023

2,635,000

NET BOOK VALUE

At 31 December 2023

2,635,000

At 31 December 2022

2,500,000

The fair value of the investment property as at 31 December 2023 was £2,635,000 as valued by N A Garrod, a director.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

4,000

Amounts owed by group undertakings

928,097

966,950

Amounts recoverable on contract

462

736

Called up share capital not paid

4,510

4,510

Prepayments

1,675

3,471

934,744

979,667

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Tax

12,718

17,737

Other creditors

980

980

Directors' current accounts

64,609

137,620

Accruals and deferred income

10,586

34,534

88,893

190,871

9.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

400,839

367,089

Deferred

tax

£

Balance at 1 January 2023

367,089

Provided during year

33,750

Balance at 31 December 2023

400,839