REGISTERED NUMBER: 00310005 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Oliver Garratt Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R E Gillman

Mrs M Y Gillman

Mrs L A Heath

SECRETARY:

Mrs L A Heath

REGISTERED OFFICE:

Unit 1 Lyndon Yard

Riverside Road

London

SW17 0BA

REGISTERED NUMBER:

00310005 (England and Wales)

FIXED ASSETS

Tangible assets

4

8,744

11,452

Investments

5

266,286

332,838

Investment property

6

4,809,068

4,809,068

5,084,098

5,153,358

CURRENT ASSETS

Debtors

7

316,709

573,741

Cash at bank

508,930

324,047

825,639

897,788

CREDITORS

Amounts falling due within one year

8

301,649

234,460

NET CURRENT ASSETS

523,990

663,328

TOTAL ASSETS LESS CURRENT LIABILITIES

5,608,088

5,816,686

PROVISIONS FOR LIABILITIES

9

363,522

364,139

NET ASSETS

5,244,566

5,452,547

CAPITAL AND RESERVES

Called up share capital

10

760

760

Revaluation reserve

11

915,624

915,624

Capital redemption reserve

400

400

Retained earnings

4,327,782

4,535,763

SHAREHOLDERS' FUNDS

5,244,566

5,452,547

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 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.

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 Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by:

R E Gillman - Director

1.	STATUTORY INFORMATION

Oliver Garratt 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.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise

specified within these accounting policies and in accordance with Section 1A of Financial Reporting

Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and

the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain

critical accounting estimates. It also requires management to exercise judgment in applying the

Company's accounting policies

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the turnover can be reliably measured. 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on straight line basis

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on straight line basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Investment properties are carried at fair value based on director's valuations. This is in accordance Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland', which requires that such property be included in the financial statements at their open market value at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised

cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty

on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no

more than three months from the date of acquisition and that are readily convertible to known

amounts of cash with insignificant risk of change in value.

Financial instruments

The Company only enters into basic financial instrument 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.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors,

are measured, initially and subsequently, at the undiscounted amount of the cash or other

consideration expected to be paid or received.

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 Statement of Comprehensive Income.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method.

Foreign currency translation

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange

rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the

transaction and non-monetary items measured at fair value are measured using the exchange rate

when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the

translation at period-end exchange rates of monetary assets and liabilities denominated in foreign

currencies are recognised in profit or loss except when deferred in other comprehensive income as

qualifying cash flow hedges.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are

recognised when paid. Final equity dividends are recognised when approved by the shareholders at

an annual general meeting.

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a

pension plan under which the Company pays fixed contributions into a separate entity. Once the

contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid

are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately

from the Company in independently administered funds.

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive

obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking

into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amount of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2024

and 31 March 2025

1,000

6,930

3,929

DEPRECIATION

At 1 April 2024

-

6,930

3,260

Charge for year

-

-

223

At 31 March 2025

-

6,930

3,483

NET BOOK VALUE

At 31 March 2025

1,000

-

446

At 31 March 2024

1,000

-

669

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

24,528

17,005

9,585

62,977

DEPRECIATION

At 1 April 2024

15,471

16,746

9,118

51,525

Charge for year

2,264

65

156

2,708

At 31 March 2025

17,735

16,811

9,274

54,233

NET BOOK VALUE

At 31 March 2025

6,793

194

311

8,744

At 31 March 2024

9,057

259

467

11,452

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

772,523

PROVISIONS

At 1 April 2024

439,685

Impairments

66,552

At 31 March 2025

506,237

NET BOOK VALUE

At 31 March 2025

266,286

At 31 March 2024

332,838

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

4,809,068

NET BOOK VALUE

At 31 March 2025

4,809,068

At 31 March 2024

4,809,068

The 2025 valuations were made by R Gillman, a director of the company, on an open market value for existing use basis.

In making his assessment of market values for the investment properties as at 31 March 2025, the

director had due regard to previous professional valuations undertaken to determine the property values and local market conditions and market value assessments as at 31 March 2025. As a result of his assessment he determined there was no need to amend the valuations of the properties as per their carrying values as at 31st March 2024.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

29,455

9,473

Amounts owed by group undertakings

209,266

462,256

Other debtors

3,200

15,236

Directors' loan accounts

-

40

VAT

-

414

Prepayments and accrued income

74,788

86,322

316,709

573,741

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,614

14,888

Amounts owed to group undertakings

115,412

122,058

Corporation tax

6,924

4,362

Social security and other taxes

22,184

24,984

VAT

5,176

-

Other creditors

23,941

24,268

Accruals and deferred income

126,398

43,900

301,649

234,460

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

1,663

2,280

Other timing differences

361,859

361,859

363,522

364,139

Deferred

tax

£

Balance at 1 April 2024

364,139

Credit to Statement of Comprehensive Income during year

(617

)

Balance at 31 March 2025

363,522

Included within the deferred tax provision of £363,522 is £361,858 in relation to the deferred tax on the investment properties. (2024 £361,858)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

760

Ordinary Shares

1

760

760

11.

RESERVES

Capital redemption reserve

The capital redemption reserve is a non-distributable reserve and represents paid up share capital.

Investment property revaluation reserve

This non-distributable reserve is used to record the difference between:

1. The open market values of the company's investment properties provided previously; and

2. The deferred tax liability at the balance sheet date relating to these investment properties.

In the year ended 31 March 2020 the company had elected to use previous external professional

valuations of the properties as their deemed costs at the date of transition to FRS102. The directors

believed the cost of undertaking annual valuation exercises would cause undue cost and effort and

therefore have decided to retain previous external professional valuations as deemed costs and to not undertake regular revaluations.

In the year ended 31 March 2021 and 31 March 2022 the company had elected to use valuations of the properties undertaken by R Gillman, a director.

In the year ended 31 March 2024 and 31 March 2025 the company elected to use valuations of the

properties undertaken on 5 July 2023 by R Gillman, a director. The director confirms the accounts show a true and fair view and that the market values are reasonable for all investment properties.

12.	ULTIMATE CONTROLLING PARTY

None of the shareholders hold over 50% of the share capital or voting rights in the company and it is

therefore the opinion of the directors that there is no controlling party.