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REGISTERED NUMBER: 12904970 (England and Wales)

















GEARY HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 487 1,148
Investment property 5 825,000 578,000
825,487 579,148

CURRENT ASSETS
Debtors 6 20,745 40,117
Cash at bank 8,968 10,624
29,713 50,741
CREDITORS
Amounts falling due within one year 7 206,876 172,563
NET CURRENT LIABILITIES (177,163 ) (121,822 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

648,324

457,326

CREDITORS
Amounts falling due after more than one
year

8

(558,641

)

(416,838

)

PROVISIONS FOR LIABILITIES (32,031 ) (19,034 )
NET ASSETS 57,652 21,454

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,552 21,354
57,652 21,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)

BALANCE SHEET - continued
30 SEPTEMBER 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 Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





P Geary - Director


GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Geary Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12904970

Registered office: 1 Beaufront Terrace
West Boldon
Newcastle Upon Tyne
Tyne and Wear
NE36 0PN

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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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.
Plant and machinery etc - 33% on cost

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 2,314
DEPRECIATION
At 1 October 2023 1,166
Charge for year 661
At 30 September 2024 1,827
NET BOOK VALUE
At 30 September 2024 487
At 30 September 2023 1,148

GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 578,000
Additions 195,012
Revaluations 51,988
At 30 September 2024 825,000
NET BOOK VALUE
At 30 September 2024 825,000
At 30 September 2023 578,000

The historical cost of the freehold investment properties is £695,527 (2023: £501,315).

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 54,569
Valuation in 2023 21,566
Valuation in 2024 51,988
Cost 696,877
825,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 20,745 40,117

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 206,876 172,563

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 558,641 416,838

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 558,641 416,838

9. SECURED DEBTS

The company's loans are secured by a fixed charge over the relevant property that the respective loan has been taken out against.

GEARY HOMES LIMITED (REGISTERED NUMBER: 12904970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
P Geary
Balance outstanding at start of year (170,621 ) (122,309 )
Amounts repaid (30,312 ) (48,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (200,933 ) (170,621 )

11. RELATED PARTY DISCLOSURES

Geary Holdings Limited
A company in which the director has control.

At the year end, the amount owed from the related party was £360 (2023: £360).

TXP Homes Limited
A company in which the director has an interest.

At the year end, the amount owed from the related party was £19,000 (2023: £19,000).