GARLAND ASSOCIATES LIMITED

Company Registration Number:
07900819 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

GARLAND ASSOCIATES LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

GARLAND ASSOCIATES LIMITED

Company Information

for the Period Ended 31 January 2023




Director: NWAOKOLO VALENTINE AZUKA
NWAOKOLO ATINUKE FATIMAH
Registered office: Cardiff
CF14 8LH
Company Registration Number: 07900819 (England and Wales)

GARLAND ASSOCIATES LIMITED

Directors' Report Period Ended 31 January 2023

The directors present their report with the financial statements of the company for the period ended 31 January 2023

Principal Activities

Buying and selling of own real estate Other letting and operating of own or leased real estate

Additional information

Their are qualifying third parties indemnity provisions, they are: Professional liability indemnity Public liability indemnity

Directors

The directors shown below have held office during the whole of the period from 01 February 2022 to 31 January 2023
NWAOKOLO VALENTINE AZUKA
NWAOKOLO ATINUKE FATIMAH

This report was approved by the board of directors on 4 October 2023
And Signed On Behalf Of The Board By:

Name: NWAOKOLO VALENTINE AZUKA
Status: Director

GARLAND ASSOCIATES LIMITED

Profit and Loss Account

for the Period Ended 31 January 2023


Notes

2023
£

2022
£
Turnover 223,558 408,759
Cost of sales ( 40,869 ) ( 78,128 )
Gross Profit or (Loss) 182,689 330,631
Distribution Costs ( 128,087 ) ( 282,240 )
Administrative Expenses ( 50,436 ) ( 44,951 )
Operating Profit or (Loss) 4,166 3,440
Profit or (Loss) Before Tax 4,166 3,440
Profit or (Loss) for Period 4,166 3,440

The notes form part of these financial statements

GARLAND ASSOCIATES LIMITED

Balance sheet

As at 31 January 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 2,292 9,160
Total fixed assets: 2,292 9,160
Current assets
Stocks: 1,600
Cash at bank and in hand: 14,912 35,983
Total current assets: 16,512 35,983
Creditors: amounts falling due within one year: 5 ( 1,700 ) ( 2,380 )
Net current assets (liabilities): 14,812 33,603
Total assets less current liabilities: 17,104 42,763
Creditors: amounts falling due after more than one year: 6 ( 51,372 ) ( 53,074 )
Total net assets (liabilities): ( 34,268 ) ( 10,311 )

The notes form part of these financial statements

GARLAND ASSOCIATES LIMITED

Balance sheet continued

As at 31 January 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1 1
Revaluation reserve: 7 ( 16,904 ) ( 16,659 )
Profit and loss account: ( 17,365 ) 6,347
Shareholders funds: ( 34,268 ) ( 10,311 )

For the year ending 31 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 4 October 2023
And Signed On Behalf Of The Board By:

Name: NWAOKOLO VALENTINE AZUKA
Status: Director

The notes form part of these financial statements

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the value, net value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers and other consultancy activities

    Tangible fixed assets depreciation policy

    Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

    "Office Equipment - 25% straight line
    Furniture and Fittings - 33.33% straight line
    Motor Vehicle - 25% straight line"

    Valuation information and policy

    Stock is valued at the lower of cost and net realised value.

    Their are qualifying third parties indemnity provisions, they are:
    Professional liability indemnity
    Public liability indemnity

    Other accounting policies

    The aged debtors report is broken down in full to provide clear information, who owes the business the most money, how long each customer owes and when the payment is made.

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 2

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 3. Off balance sheet disclosure

    No

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Tangible assets

Fixtures & fittings Office equipment Total
Cost £ £ £
At 01 February 2022 7,613 1,547 9,160
Additions - - -
Disposals - - -
Revaluations - ( 3,946 ) ( 3,946 )
Transfers - ( 630 ) ( 630 )
At 31 January 2023 7,613 ( 3,029 ) 4,584
Depreciation
At 01 February 2022 - - -
Charge for year 1,903 389 2,292
On disposals - - -
Other adjustments - - -
At 31 January 2023 1,903 389 2,292
Net book value
At 31 January 2023 5,710 ( 3,418 ) 2,292
At 31 January 2022 7,613 1,547 9,160

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

"Office Equipment - 25% straight line
Furniture and Fittings - 33.33% straight line
Motor Vehicle - 25% straight line"

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

5.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 1,700 2,380
Total 1,700 2,380

Professional fees
Corporation Tax

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

6.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 51,372 53,074
Total 51,372 53,074

Barclays loan
Bounce bank loan

GARLAND ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

7. Revaluation reserve


2023
£
Balance at 01 February 2022 ( 16,659 )
Surplus or deficit after revaluation ( 245 )
Balance at 31 January 2023 ( 16,904 )