Registered number
11282404
GARV Properties Ltd
Unaudited Filleted Accounts
31 January 2025
GARV Properties Ltd Registered number: 11282404
Balance Sheet
As at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 2 7,363 9,993
Investments 3 791,881 695,733
799,244 705,726
Current assets
Stocks 1,835,829 1,618,100
Debtors 4 10,293 4,155
Cash at bank and in hand 110,269 252,565
1,956,391 1,874,820
Creditors: amounts falling due within one year 5 (2,623,323) (2,458,437)
Net current liabilities (666,932) (583,617)
Total assets less current liabilities 132,312 122,109
Provisions for liabilities (13) -
Net liabilities 132,299 122,109
Capital and reserves
Called up share capital 100 100
Profit and loss account 132,199 122,009
Shareholders' funds 132,299 122,109
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F G Hartley
Director
Approved by the board on 21 October 2025
GARV Properties Ltd
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Motor vehicles over 4 years
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company - -
2 Tangible fixed assets
Tools and Equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2024 13,151 15,771 28,922
At 31 January 2025 13,151 15,771 28,922
Depreciation
At 1 February 2024 3,158 15,771 18,929
Charge for the year 2,630 - 2,630
At 31 January 2025 5,788 15,771 21,559
Net book value
At 31 January 2025 7,363 - 7,363
At 31 January 2024 9,993 - 9,993
3 Investments Investment
properties
£
At 1 February 2024 695,733
Additions 96,148
At 31 January 2025 791,881
Historical cost
At 1 February 2024 663,808
At 31 January 2025 759,956
Investment properties are included at their fair value which is assessed at the end of every accounting period.
4 Debtors 2025 2024
£ £
Deferred tax asset - 3,405
Taxation and social security costs 3,832 -
Other debtors 6,461 750
10,293 4,155
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs - 403
Other creditors 2,623,323 2,458,034
2,623,323 2,458,437
6 Related party transactions
The company owed Vale Insurance Services Ltd, a company under common control, £2,455,196 (2024 - £2,453,478) at the year-end. This loan is interest-free and repayable on demand and is included in other creditors in these accounts.
The company owed the director £162,780 (2024 - £1,148) at the year-end. This loan is interest-free and repayable on demand and is included in other creditors in these accounts.
7 Controlling party
The company is controlled by Mr F G Hartley, director and his wife, Mrs A Hartley, as between them they own the entire share capital.
8 Other information
GARV Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22 - 24 Market Street
Altrincham
Cheshire
WA14 1PF
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