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REGISTERED NUMBER: 00522092 (England and Wales)


















GARNHILL INVESTMENT COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






GARNHILL INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00522092)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GARNHILL INVESTMENT COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: C W Green
C V Green
A C Green Jervis





SECRETARY: C V Green





REGISTERED OFFICE: Elfed House
Oak Tree Court, Mulberry Drive
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 00522092 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

GARNHILL INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00522092)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 354,777 352,725
Investment property 5 1,450,000 1,450,000
1,804,777 1,802,725

CURRENT ASSETS
Debtors 6 1,878 4,497
Cash at bank 67,986 56,375
69,864 60,872
CREDITORS
Amounts falling due within one year 7 (42,643 ) (28,965 )
NET CURRENT ASSETS 27,221 31,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,831,998

1,834,632

PROVISIONS FOR LIABILITIES 8 (160,263 ) (161,560 )
NET ASSETS 1,671,735 1,673,072

CAPITAL AND RESERVES
Called up share capital 9 200 200
Non-distributable reserve 1,302,706 1,306,903
Capital redemption reserve 498 498
Retained earnings 368,331 365,471
SHAREHOLDERS' FUNDS 1,671,735 1,673,072

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:



C V Green - Director


GARNHILL INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00522092)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Garnhill Investment Company 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.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
The turnover shown in the profit and loss account represents rent receivable for the year.

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss statement. Deferred taxation is provided on these gains at the rate expected to apply when the asset is sold.

Investments
Investments are included at fair value. Gains are recognised in the profit and loss statement. Deferred tax is provided on these gains at the rate expected to apply when the asset is sold. Listed investments are valued at the current bid price at the balance sheet date.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

GARNHILL INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00522092)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2022 352,725
Additions 29,432
Disposals (25,443 )
Revaluations (1,937 )
At 31 July 2023 354,777
NET BOOK VALUE
At 31 July 2023 354,777
At 31 July 2022 352,725

The investments, which are all listed, have been valued at current bid price at the year end.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 1,450,000
NET BOOK VALUE
At 31 July 2023 1,450,000
At 31 July 2022 1,450,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 1,450,000

The investment property was valued on a fair value basis at 31 July 2023 by the directors

The directors do not have experience in property matters but have taken guidance from estate agents in order to assess the fair value at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 324 324
Prepayments and accrued income 1,554 4,173
1,878 4,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 17,725 19,410
Other creditors 3,447 3,447
Directors' current accounts 13 13
Accruals and deferred income 21,458 6,095
42,643 28,965

GARNHILL INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00522092)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. PROVISIONS FOR LIABILITIES

The provision for liabilities relates solely to the expected tax which would be incurred if listed investments and investment property were to be sold at their fair values.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200

10. OTHER FINANCIAL COMMITMENTS

At the year end date, the company had financial commitments of £3,500 (2022: £11,900) in relation to rent payable.