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REGISTERED NUMBER: 08176282 (England and Wales)

Financial Statements for the Year Ended 31 August 2024

for

Garden State Property Management Ltd

| Garden State Property Management Ltd (Registered number: 08176282) |

Contents of the Financial Statements

for the Year Ended 31 August 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Garden State Property Management Ltd |

Company Information

for the Year Ended 31 August 2024

| DIRECTOR: | S M Lynch

| REGISTERED OFFICE: | 116 Duke Street

| Liverpool

| Merseyside

| L1 5JW

| REGISTERED NUMBER: | 08176282 (England and Wales)

| ACCOUNTANTS: | Cobham Murphy

| 116 Duke Street

| Liverpool

| Merseyside

| L1 5JW

| Garden State Property Management Ltd (Registered number: 08176282) |

Balance Sheet

31 August 2024

| 31.8.24 | 31.8.23 |

| Notes | £ | £ | £ | £ |

ASSETS

FIXED ASSETS

Tangible assets | 4 | 5,776 |  | 4,928 |  |

Investments | 5 | 7,000,000 |  | 7,000,000 |  |

Investment property | 6 | 5,024,999 |  | 3,324,999 |  |

12,030,775 |  | 10,329,927 |  |

CURRENT ASSETS

Stocks | 1,405,495 |  | - |  |

Debtors | 7 | 725,615 |  | 737,250 |  |

Cash at bank | 60,801 |  | 1,220,303 |  |

|  |  | 2,191,911 |  |  |  |  | 1,957,553 |  |

14,222,686 |  | 12,287,480 |  |

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital | 250 |  | 250 |  |

Share premium | 432,525 |  | 432,525 |  |

Retained earnings | 8,839,046 |  | 8,109,676 |  |

SHAREHOLDERS' FUNDS | 9,271,821 |  | 8,542,451 |  |

PROVISIONS FOR LIABILITIES | 172,099 |  | 197,058 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,032,973 |  | 332,049 |  |

Amounts falling due after more than one year | 9 | 3,745,793 |  | 3,215,922 |  |

4,778,766 |  | 3,547,971 |  |

14,222,686 |  | 12,287,480 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

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

| Garden State Property Management Ltd (Registered number: 08176282) |

Balance Sheet - continued

31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2025 and were signed by:

S M Lynch - Director

| Garden State Property Management Ltd (Registered number: 08176282) |

Notes to the Financial Statements

for the Year Ended 31 August 2024

1. | STATUTORY INFORMATION

| Garden State Property Management Ltd 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Significant judgements and estimates

| There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable on rental income, excluding discounts, rebates, value added tax and other sales. Income is recognised as the rents are paid.

| 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 subsidiaries are held at their revalued amount.

| 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.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

| Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

| Financial assets that are measured at 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.

| Garden State Property Management Ltd (Registered number: 08176282) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Hire purchase and leasing commitments

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

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 September 2023 | 7,880 |  |

| Additions | 1,422 |  |

| At 31 August 2024 | 9,302 |  |

| DEPRECIATION

| At 1 September 2023 | 2,952 |  |

| Charge for year | 574 |  |

| At 31 August 2024 | 3,526 |  |

| NET BOOK VALUE

| At 31 August 2024 | 5,776 |  |

| At 31 August 2023 | 4,928 |  |

| Garden State Property Management Ltd (Registered number: 08176282) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST OR VALUATION

| At 1 September 2023

| and 31 August 2024 | 7,000,000 |  |

| NET BOOK VALUE

| At 31 August 2024 | 7,000,000 |  |

| At 31 August 2023 | 7,000,000 |  |

| Cost or valuation at 31 August 2024 is represented by:

| Shares in

| group

| undertakings

£ |

| Valuation in 2016 | 1,950,000 |  |

| Valuation in 2017 | 867,375 |  |

| Valuation in 2018 | 432,625 |  |

| Valuation in 2020 | 750,000 |  |

| Cost | 3,000,000 |  |

7,000,000 |  |

| Shares in group undertakings were valued on an open market basis on 31 August 2019 by the director, S M Lynch .

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 September 2023 | 3,324,999 |  |

| Additions | 1,136,236 |  |

| Revaluations | 563,764 |  |

| At 31 August 2024 | 5,024,999 |  |

| NET BOOK VALUE

| At 31 August 2024 | 5,024,999 |  |

| At 31 August 2023 | 3,324,999 |  |

| Fair value at 31 August 2024 is represented by:

£ |

| Valuation in 2018 | 2,723,821 |  |

| Valuation in 2019 | 327,213 |  |

| Valuation in 2020 | (233,628 | ) |

| Valuation in 2023 | (980,967 | ) |

| Cost | 3,188,560 |  |

5,024,999 |  |

| Garden State Property Management Ltd (Registered number: 08176282) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

6. | INVESTMENT PROPERTY - continued

| During this accounting period the director has reviewed the valuations and amended the valuation of several properties accordingly on the basis of his knowledge of the property sector.

7. | DEBTORS

| 31.8.24 |  | 31.8.23

£ | £ |

| Amounts falling due within one year:

| Amounts owed by associates | - |  | 496,453 |  |

| Other debtors | 23,615 |  | 81,028 |  |

23,615 |  | 577,481 |  |

| Amounts falling due after more than one year:

| Other debtors | 702,000 |  | 159,769 |  |

| Aggregate amounts | 725,615 |  | 737,250 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.8.24 |  | 31.8.23

£ | £ |

| Bank loans and overdrafts | 258,961 |  | 251,914 |  |

| Amounts owed to associates | 680,984 |  | - |  |

| Taxation and social security | 89,141 |  | 75,415 |  |

| Other creditors | 3,887 |  | 4,720 |  |

1,032,973 |  | 332,049 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.8.24 |  | 31.8.23

£ | £ |

| Bank loans | 8,487 |  | 267,596 |  |

| Amounts owed to group undertakings | 3,737,306 |  | 2,948,326 |  |

3,745,793 |  | 3,215,922 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.8.24 |  | 31.8.23

£ | £ |

| Barclays Bank | 249,948 |  | 491,862 |  |

| A fixed and floating charge, dated 24 July 2020, is held over the assets of the company by Barclays Security Trustee Limited.

| Garden State Property Management Ltd (Registered number: 08176282) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| Included within other debtors is a balance of £701,887, (2023 £159,769), owing from the director Mr S M Lynch.

| Interest has been charged at 2.25%.

12. | RELATED PARTY DISCLOSURES

| Included within other creditors is an amount of £680,984, (2023 £496,453, Debtor), owing to GSPM Limited, a company which is controlled by Mr S Lynch.

| The loan is interest free and repayable on demand.

| Included within long term creditors is £3,737,306, (2023 £2,948,326), due to Training Strategies Limited, company under the control of Garden State Property Management Ltd.

| The loan is interest free and repayable on demand.

| Other related parties include a balance of £9,167, (2023, £17,372), in other debtors, owing from Mrs A Lynch.

| Interest has been charged at 2.25%.