Silverfin false false 31/08/2024 01/09/2023 31/08/2024 K Hanson 29/08/2017 M Hanson 29/08/2017 26 January 2025 The principal activity of the Company during the financial year was buying and selling as well as letting and operating of own or leased real estate. 10934748 2024-08-31 10934748 bus:Director1 2024-08-31 10934748 bus:Director2 2024-08-31 10934748 2023-08-31 10934748 core:CurrentFinancialInstruments 2024-08-31 10934748 core:CurrentFinancialInstruments 2023-08-31 10934748 core:Non-currentFinancialInstruments 2024-08-31 10934748 core:Non-currentFinancialInstruments 2023-08-31 10934748 core:ShareCapital 2024-08-31 10934748 core:ShareCapital 2023-08-31 10934748 core:RetainedEarningsAccumulatedLosses 2024-08-31 10934748 core:RetainedEarningsAccumulatedLosses 2023-08-31 10934748 2023-09-01 2024-08-31 10934748 bus:FilletedAccounts 2023-09-01 2024-08-31 10934748 bus:SmallEntities 2023-09-01 2024-08-31 10934748 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10934748 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10934748 bus:Director1 2023-09-01 2024-08-31 10934748 bus:Director2 2023-09-01 2024-08-31 10934748 2022-09-01 2023-08-31 10934748 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Company No: 10934748 (England and Wales)

GARDEN TOWER PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

GARDEN TOWER PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

GARDEN TOWER PROPERTIES LIMITED

BALANCE SHEET

As at 31 August 2024
GARDEN TOWER PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,371,201 1,371,201
1,371,201 1,371,201
Current assets
Debtors 4 964 794
Cash at bank and in hand 86,388 89,711
87,352 90,505
Creditors: amounts falling due within one year 5 ( 9,609) ( 7,629)
Net current assets 77,743 82,876
Total assets less current liabilities 1,448,944 1,454,077
Creditors: amounts falling due after more than one year 6 ( 1,375,672) ( 1,398,610)
Net assets 73,272 55,467
Capital and reserves
Called-up share capital 2 2
Profit and loss account 73,270 55,465
Total shareholders' funds 73,272 55,467

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Garden Tower Properties Limited (registered number: 10934748) were approved and authorised for issue by the Board of Directors on 26 January 2025. They were signed on its behalf by:

K Hanson
Director
GARDEN TOWER PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
GARDEN TOWER PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Garden Tower Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 12 Station Road, Wimborne, BH21 1QU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 1,371,201
As at 31 August 2024 1,371,201

There has been no valuation of investment property by an independent valuer.

4. Debtors

2024 2023
£ £
Other debtors 964 794

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 4,719 2,979
Other creditors 4,890 4,650
9,609 7,629

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 619,392 642,330
Other creditors 756,280 756,280
1,375,672 1,398,610

The bank loans are secured on freehold properties of the company.