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REGISTERED NUMBER: SC263114 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GARDENSTREAM LIMITED

GARDENSTREAM LIMITED (REGISTERED NUMBER: SC263114)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

GARDENSTREAM LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: M D Moreton
Mrs S Donald





SECRETARY: Mrs S Donald





REGISTERED OFFICE: 2 Aitken Den
Letham Grange
Arbroath
Angus
DD11 4QS





REGISTERED NUMBER: SC263114 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

GARDENSTREAM LIMITED (REGISTERED NUMBER: SC263114)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,939 5,227
Investment property 5 800,000 4,148,500
803,939 4,153,727

CURRENT ASSETS
Stocks 263,180 262,494
Debtors 6 444,890 409,372
Cash at bank 7,921 78,632
715,991 750,498
CREDITORS
Amounts falling due within one year 7 39,148 472,433
NET CURRENT ASSETS 676,843 278,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,480,782

4,431,792

CREDITORS
Amounts falling due after more than one year 8 (89,200 ) (2,611,449 )

PROVISIONS FOR LIABILITIES 9 (975 ) (11,305 )
NET ASSETS 1,390,607 1,809,038

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,390,507 1,808,938
1,390,607 1,809,038

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.

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 24 September 2024 and were signed on its behalf by:




M D Moreton - Director


GARDENSTREAM LIMITED (REGISTERED NUMBER: SC263114)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gardenstream Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable for services provided in the ordinary course of business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Investment property
Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Deferred taxation is provided on these adjustments at the rate expected to apply when the properties are sold.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

3. EMPLOYEES AND DIRECTORS

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

GARDENSTREAM LIMITED (REGISTERED NUMBER: SC263114)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 24,978 31,971 51,422 1,362 109,733
Additions - 2,692 - 440 3,132
Disposals (21,791 ) (1,431 ) (45,754 ) - (68,976 )
At 31 March 2024 3,187 33,232 5,668 1,802 43,889
DEPRECIATION
At 1 April 2023 24,793 28,639 49,712 1,362 104,506
Charge for year 185 2,528 880 37 3,630
Eliminated on disposal (21,791 ) (1,431 ) (44,964 ) - (68,186 )
At 31 March 2024 3,187 29,736 5,628 1,399 39,950
NET BOOK VALUE
At 31 March 2024 - 3,496 40 403 3,939
At 31 March 2023 185 3,332 1,710 - 5,227

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,148,500
Disposals (3,348,500 )
At 31 March 2024 800,000
NET BOOK VALUE
At 31 March 2024 800,000
At 31 March 2023 4,148,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2013 779,749
Valuation in 2014 813,784
Valuation in 2016 198,570
Valuation in 2017 (600,530 )
Valuation in 2018 (160,000 )
Valuation in 2019 (130,000 )
Valuation in 2020 (585,000 )
Valuation in 2021 (130,000 )
Valuation in 2022 (225,000 )
Valuation in 2023 (22,768 )
Cost 861,195
800,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 861,195 4,275,534

Investment property was valued on open market basis on 31 March 2024 by the directors .

GARDENSTREAM LIMITED (REGISTERED NUMBER: SC263114)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 444,890 409,372

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 60,000
Taxation and social security - 15,832
Other creditors 39,148 396,601
39,148 472,433

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2,106,000
Other creditors 89,200 505,449
89,200 2,611,449

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 89,200 89,200

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 975 11,305

Deferred
tax
£   
Balance at 1 April 2023 11,305
Provided during year (10,330 )
Balance at 31 March 2024 975

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M D Moreton
Balance outstanding at start of year (192,531 ) (183,530 )
Amounts advanced 600,000 -
Amounts repaid (35,417 ) (9,001 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 372,052 (192,531 )

GARDENSTREAM LIMITED (REGISTERED NUMBER: SC263114)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs S Donald
Balance outstanding at start of year (433,704 ) (428,454 )
Amounts advanced 400,000 -
Amounts repaid (3,489 ) (5,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37,193 ) (433,704 )

The loan is interest free, unsecured and there are no fixed repayment terms.

11. RELATED PARTY DISCLOSURES

At 31 March 2023 there was an outstanding loan, due to owners with a participating interest in the company of £89,200 (2023: £269,200). This loan is interest free and there are no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GARDENSTREAM 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 Income Statement 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 Gardenstream Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Gardenstream 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 Gardenstream Limited and state those matters that we have agreed to state to the Board of Directors of Gardenstream Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gardenstream 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 loss of Gardenstream Limited. You consider that Gardenstream 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 Gardenstream 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.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


24 September 2024