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REGISTERED NUMBER: 05740121 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GARRISON HOMES LIMITED

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GARRISON HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs G K Toor
Mr G S Toor





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 05740121 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140 187
Investment property 5 535,000 480,000
535,140 480,187

CURRENT ASSETS
Debtors 6 31,769 22,521
Cash at bank and in hand 83,950 87,367
115,719 109,888
CREDITORS
Amounts falling due within one year 7 5,401 4,586
NET CURRENT ASSETS 110,318 105,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,458

585,489

CREDITORS
Amounts falling due after more than one
year

8

(373,515

)

(374,816

)

PROVISIONS FOR LIABILITIES 10 (42,939 ) (20,036 )
NET ASSETS 229,004 190,637

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 224,172 190,163
Retained earnings 4,732 374
SHAREHOLDERS' FUNDS 229,004 190,637

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.

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr G S Toor - Director


GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Garrison Homes 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.

Turnover
Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2023 - 2 ) .

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 2,679
DEPRECIATION
At 1 April 2023 2,492
Charge for year 47
At 31 March 2024 2,539
NET BOOK VALUE
At 31 March 2024 140
At 31 March 2023 187

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 480,000
Revaluations 55,000
At 31 March 2024 535,000
NET BOOK VALUE
At 31 March 2024 535,000
At 31 March 2023 480,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2008 52,111
Valuation in 2017 160,000
Valuation in 2024 55,000
Cost 267,889
535,000

If leasehold investments had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 267,889 267,889

Leasehold investments were valued on an open market basis on 12 September 2017 by OneSavings Bank plc .

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

At the reporting date the directors deem the value to be appropriate.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 9,622 165
Corporation tax recoverable 8,335 8,335
Directors' current accounts 12,987 13,367
Prepayments & accrued income 825 654
31,769 22,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 1,275 1,244
Trade creditors 579 674
Tax 2,889 1,086
Accruals and deferred income - 925
Accrued expenses 658 657
5,401 4,586

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 373,515 374,816

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 368,416 369,841

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,275 1,244

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,275 1,244

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. LOANS - continued
31.3.24 31.3.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,824 3,731

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 368,416 369,841

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 42,939 20,036

Deferred
tax
£   
Balance at 1 April 2023 20,036
Provided during year 22,903
Balance at 31 March 2024 42,939

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023 190,163
Fair value movement 34,009

At 31 March 2024 224,172

GARRISON HOMES LIMITED (REGISTERED NUMBER: 05740121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
Mr G S Toor and Mrs G K Toor
Balance outstanding at start of year 13,367 16,249
Amounts repaid (380 ) (2,882 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,987 13,367

During the year the directors were charged interest of £318 (2023: £338) on their overdrawn directors' account calculated at HM Revenue and Customs rates.