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Registration number: 10764843

Garonica Property Development Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Garonica Property Development Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Garonica Property Development Ltd

Company Information

Directors

Mr Gary Mathieson

Ms Monica Adina Mathieson

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Garonica Property Development Ltd

(Registration number: 10764843)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

1,224,000

1,175,000

Current assets

 

Debtors

4

35

35

Cash at bank and in hand

 

3,225

20

 

3,260

55

Creditors: Amounts falling due within one year

5

(8,817)

(7,782)

Net current liabilities

 

(5,557)

(7,727)

Total assets less current liabilities

 

1,218,443

1,167,273

Creditors: Amounts falling due after more than one year

5

(949,601)

(949,784)

Provisions for liabilities

(57,290)

(47,980)

Net assets

 

211,552

169,509

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

244,235

204,545

Retained earnings

(33,683)

(36,036)

Shareholders' funds

 

211,552

169,509

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 22 August 2024 and signed on its behalf by:
 

.........................................
Mr Gary Mathieson
Director

 

Garonica Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

2

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

250

250

At 30 April 2024

250

250

Depreciation

At 1 May 2023

250

250

At 30 April 2024

250

250

Carrying amount

At 30 April 2024

-

-

3

Investment properties

2024
£

At 1 May

1,175,000

Fair value adjustments

49,000

At 30 April

1,224,000

The fair value of the property has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

4

Debtors

2024
£

2023
£

Trade debtors

(6,500)

(6,500)

Prepayments

35

35

Other debtors

6,500

6,500

35

35

 

Garonica Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,085

1,085

Other creditors

7,732

6,697

8,817

7,782

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

630,945

631,128

Other non-current financial liabilities

 

318,656

318,656

 

949,601

949,784