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REGISTERED NUMBER: 04447893 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30th September 2024

for

GARMS & BROOKS PROPERTY SERVICES
LIMITED

GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Contents of the Financial Statements
for the year ended 30th September 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


GARMS & BROOKS PROPERTY SERVICES
LIMITED

Company Information
for the year ended 30th September 2024







DIRECTORS: Mr S M Garms
Mr K W Brooks





SECRETARY: Mr S M Garms





REGISTERED OFFICE: Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN





REGISTERED NUMBER: 04447893 (England and Wales)





ACCOUNTANTS: Barrons Limited
Chartered Accountants
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Garms & Brooks Property Services
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 Garms & Brooks Property Services Limited for the year ended 30th September 2024 which comprise the Profit and Loss Account, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Garms & Brooks Property Services 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 Garms & Brooks Property Services Limited and state those matters that we have agreed to state to the Board of Directors of Garms & Brooks Property Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Garms & Brooks Property Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Garms & Brooks Property Services 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 profit of Garms & Brooks Property Services Limited. You consider that Garms & Brooks Property Services 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 Garms & Brooks Property Services 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.






Barrons Limited
Chartered Accountants
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN


26th June 2025

GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 40,000 40,000
Investment property 6 625,000 625,000
665,000 665,000

CURRENT ASSETS
Debtors 7 36,791 43,333
Cash at bank and in hand 421 1,055
37,212 44,388
CREDITORS
Amounts falling due within one year 8 27,671 34,080
NET CURRENT ASSETS 9,541 10,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,541

675,308

CREDITORS
Amounts falling due after more than one
year

9

(210,941

)

(217,892

)

PROVISIONS FOR LIABILITIES (61,575 ) (61,575 )
NET ASSETS 402,025 395,841

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 402,023 395,839
SHAREHOLDERS' FUNDS 402,025 395,841

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Balance Sheet - continued
30th 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 Board of Directors and authorised for issue on 26th June 2025 and were signed on its behalf by:





Mr S M Garms - Director


GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Notes to the Financial Statements
for the year ended 30th September 2024


1. STATUTORY INFORMATION

Garms & Brooks Property Services 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.

Turnover
The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery etc.- 20% Straight Line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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.


GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Notes to the Financial Statements - continued
for the year ended 30th 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.

Financial instruments
The Company only enters into basic financial instruments transactions 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 profit and loss.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Notes to the Financial Statements - continued
for the year ended 30th September 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023
and 30th September 2024 617
DEPRECIATION
At 1st October 2023
and 30th September 2024 617
NET BOOK VALUE
At 30th September 2024 -

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment 40,000 35,000
Revaluation - 5,000
40,000 40,000

Investments were valued on an open market basis on 30th September 2024 by the company directors.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023
and 30th September 2024 625,000
NET BOOK VALUE
At 30th September 2024 625,000
At 30th September 2023 625,000

Investment properties and land were valued on an open market basis on 30th September 2024 by the company directors.

GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Notes to the Financial Statements - continued
for the year ended 30th September 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 36,791 43,333

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,186 7,699
Trade creditors 4,349 4,464
Taxation and social security 8,559 14,594
Other creditors 6,577 7,323
27,671 34,080

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 210,941 217,892

Amounts falling due in more than five years:

Repayable by instalments
Long term bank loan 195,578 195,578

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 219,127 225,591

The bank loans are secured by charges on the company's investment properties and assets and directors personal guarantees.

GARMS & BROOKS PROPERTY SERVICES
LIMITED (REGISTERED NUMBER: 04447893)

Notes to the Financial Statements - continued
for the year ended 30th September 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors current accounts

20242023
££

Balance outstanding at start of year31,91433,594
Amounts advanced1,536 1,154
Amounts repaid (7,965) (2,834)
Balance outstanding at end of year25,485 31,914


During the year, the company charged interest on the director's loan account at 2.25% totalling £686 (2024: £454).

12. DISTRIBUTABLE RESERVES

Following adoption of FRS102 retained earnings as disclosed on the face of the balance sheet also include revaluation gains and deferred tax provision on these gains. These are not distributable reserves. The actual distributable reserves as at the balance sheet date were £114,973 (2023: £108,789).