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REGISTERED NUMBER: 02858176 (England and Wales)






















Garness Group Limited

Unaudited Financial Statements for the Year Ended 31 March 2025






Garness Group Limited (Registered number: 02858176)






Contents of the Financial Statements
for the year ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Garness Group Limited

Company Information
for the year ended 31 March 2025







DIRECTOR: D C Garness





SECRETARY: E M Dennison





REGISTERED OFFICE: Riverside House
11-12 Nelson Street
Hull
HU1 1XE





REGISTERED NUMBER: 02858176 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Garness Group Limited (Registered number: 02858176)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 833,380 821,594
Investments 6 3,000 3,000
836,380 824,594

CURRENT ASSETS
Debtors 7 554,405 503,819
Cash at bank and in hand 79,859 50,322
634,264 554,141
CREDITORS
Amounts falling due within one year 8 251,067 262,967
NET CURRENT ASSETS 383,197 291,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,219,577

1,115,768

CREDITORS
Amounts falling due after more than one
year

9

(436,013

)

(486,548

)

PROVISIONS FOR LIABILITIES (13,379 ) (10,372 )
NET ASSETS 770,185 618,848

CAPITAL AND RESERVES
Called up share capital 500 500
Capital redemption reserve 500 500
Retained earnings 769,185 617,848
770,185 618,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Garness Group Limited (Registered number: 02858176)

Balance Sheet - continued
31 March 2025


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 director and authorised for issue on 9 July 2025 and were signed by:





D C Garness - Director


Garness Group Limited (Registered number: 02858176)

Notes to the Financial Statements
for the year ended 31 March 2025

1. STATUTORY INFORMATION

Garness Group 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.

Preparation of consolidated financial statements
The financial statements contain information about Garness Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. Goodwill originally purchased amounting to £51,709 was written off in equal monthly instalments over its estimated economic life of 10 years. Goodwill subsequently purchased amounting to £52,447 was written off in equal monthly instalments over its estimated economic life of 2 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Garness Group Limited (Registered number: 02858176)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

2. ACCOUNTING POLICIES - continued
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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 104,156
AMORTISATION
At 1 April 2024
and 31 March 2025 104,156
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

Garness Group Limited (Registered number: 02858176)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2024 778,771 309,669 1,088,440
Additions - 29,033 29,033
At 31 March 2025 778,771 338,702 1,117,473
DEPRECIATION
At 1 April 2024 - 266,846 266,846
Charge for year - 17,247 17,247
At 31 March 2025 - 284,093 284,093
NET BOOK VALUE
At 31 March 2025 778,771 54,609 833,380
At 31 March 2024 778,771 42,823 821,594

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2024
and 31 March 2025 3,000
NET BOOK VALUE
At 31 March 2025 3,000
At 31 March 2024 3,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors - 900
Amounts owed by group undertakings 350,139 319,717
Other debtors 204,266 183,202
554,405 503,819

Garness Group Limited (Registered number: 02858176)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 50,392 48,716
Trade creditors 45,861 24,337
Amounts owed to group undertakings 77,468 96,237
Taxation and social security 66,846 82,640
Other creditors 10,500 11,037
251,067 262,967

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 436,013 486,548

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 336,592

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 39,426 7,079
Between one and five years 48,350 2,222
87,776 9,301

11. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 486,405 535,264

The bank loans are secured by a fixed and floating charge over the company's assets.

12. OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme for its employees. Included within other creditors are unpaid amounts due to the fund of £527 (2024: £569).