IRIS Accounts Productionv24.1.0.57803502672Board of DirectorsBoard of DirectorsBoard of Directors1.4.2331.3.2431.3.24falsetruefalsefalsetruefalseFair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035026722023-03-31035026722024-03-31035026722023-04-012024-03-31035026722022-03-31035026722022-04-012023-03-31035026722023-03-3103502672ns15:EnglandWales2023-04-012024-03-3103502672ns14:PoundSterling2023-04-012024-03-3103502672ns10:Director12023-04-012024-03-3103502672ns10:Director22023-04-012024-03-3103502672ns10:Director32023-04-012024-03-3103502672ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103502672ns10:SmallEntities2023-04-012024-03-3103502672ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3103502672ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103502672ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103502672ns10:FullAccounts2023-04-012024-03-3103502672ns10:CompanySecretary12023-04-012024-03-3103502672ns10:RegisteredOffice2023-04-012024-03-3103502672ns5:CurrentFinancialInstruments2024-03-3103502672ns5:CurrentFinancialInstruments2023-03-3103502672ns5:RevaluationReserve2024-03-3103502672ns5:RevaluationReserve2023-03-3103502672ns5:RetainedEarningsAccumulatedLosses2024-03-3103502672ns5:RetainedEarningsAccumulatedLosses2023-03-3103502672ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103502672ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103502672ns5:RetainedEarningsAccumulatedLosses2023-03-3103502672ns5:RevaluationReserve2023-03-3103502672ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31

REGISTERED NUMBER: 03502672 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


FOR



GARGREEN LIMITED


GARGREEN LIMITED (REGISTERED NUMBER: 03502672)


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024











Page



Company Information  

1



Chartered Accountants' Report  

2



Balance Sheet  

3



Notes to the Financial Statements  

5




GARGREEN LIMITED


COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024









DIRECTORS:

Mrs T Kara


Miss J Kara


Miss R Kara





SECRETARY:

Mrs T Kara





REGISTERED OFFICE:

713a North Circular Road


London


NW2 7AX





REGISTERED NUMBER:

03502672 (England and Wales)





ACCOUNTANTS:

STGCA LLP t/a Sterling


Chartered Accountants


505 Pinner Road


Harrow


Middlesex


HA2 6EH





BANKERS:

Barclays Commercial Bank


1-2 Trinity Way


Chingford


London


E4 8TD


CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

GARGREEN LIMITED



The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gargreen Limited for the year ended 31 March 2024 which comprise the Profit and loss, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.


As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.  


This report is made solely to the Board of Directors of Gargreen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gargreen Limited and state those matters that we have agreed to state to the Board of Directors of Gargreen Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gargreen Limited and its Board of Directors, as a body, for our work or for this report.    


It is your duty to ensure that Gargreen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gargreen Limited. You consider that Gargreen Limited is exempt from the statutory audit requirement for the year.  


We have not been instructed to carry out an audit or a review of the financial statements of Gargreen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.  







STGCA LLP t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH



31 July 2024


GARGREEN LIMITED (REGISTERED NUMBER: 03502672)


BALANCE SHEET

31 MARCH 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Investment property

4

16,000,000


14,090,000




CURRENT ASSETS

Debtors

5

8,806,262


8,636,746



Cash at bank and in hand

1,431,115


1,148,837



10,237,377


9,785,583



CREDITORS

Amounts falling due within one year

6

211,817


176,123



NET CURRENT ASSETS

10,025,560


9,609,460



TOTAL ASSETS LESS CURRENT

LIABILITIES

26,025,560


23,699,460




PROVISIONS FOR LIABILITIES

1,332,023


2,873,226



NET ASSETS

24,693,537


20,826,234




CAPITAL AND RESERVES

Called up share capital

10,000


10,000



Revaluation reserve

7

5,050,314


2,063,868



Retained earnings

7

19,633,223


18,752,366



SHAREHOLDERS' FUNDS

24,693,537


20,826,234




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


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


GARGREEN LIMITED (REGISTERED NUMBER: 03502672)


BALANCE SHEET - continued

31 MARCH 2024



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 has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Miss J Kara - Director

Mrs T Kara - Director





Miss R Kara - Director



GARGREEN LIMITED (REGISTERED NUMBER: 03502672)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024



1.

STATUTORY INFORMATION



Gargreen 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.    



Related party exemption


The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.



Turnover


Turnover represents rents receivable, net of value added tax. Turnover is recognised on a rent receivable basis to the balance sheet date.



Investment property


Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.



Subsequent to initial recognition:



i  investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise.



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 balance sheet date.


Deferred tax

Deferred tax is recognised in respect of temporary timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 3 (2023 - 3 ) .


GARGREEN LIMITED (REGISTERED NUMBER: 03502672)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



4.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 April 2023

14,090,000




Revaluations

1,910,000




At 31 March 2024

16,000,000




NET BOOK VALUE


At 31 March 2024

16,000,000




At 31 March 2023

14,090,000





Fair value at 31 March 2024 is represented by:

£   



Valuation in 2003

1,725,198




Valuation in 2006

500,000




Valuation in 2007

511,645




Valuation in 2015

1,225,000




Valuation in 2017

370,000




Valuation in 2018

1,880,000




Valuation in 2020

(337,908

)



Valuation in 2022

(1,708,750

)



Valuation in 2023

310,906




Valuation in 2024

1,910,000




Cost

9,613,909



16,000,000





As at 31 March 2024 the fair values of the investment properties have estimated by the directors.


5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

20,327


30,955




Amounts owed by connected company.

4,700,000


4,500,000




Amounts owed by group undertakings

4,085,935


4,105,791



8,806,262


8,636,746




GARGREEN LIMITED (REGISTERED NUMBER: 03502672)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade creditors

13


92




Taxation and social security

67,643


31,843




Other creditors

144,161


144,188



211,817


176,123




7.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 April 2023

18,752,366


2,063,868


20,816,234




Profit for the year

3,867,303


3,867,303




Fair value adjustment

(2,986,446

)

2,986,446


-




At 31 March 2024

19,633,223


5,050,314


24,683,537