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Registration number: NI064236

Gardenhill Properties Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2024

Gardenhill Properties Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Gardenhill Properties Limited

Company Information

Directors | Mr Nick Stock Mr Eamonn Young

Registered office | 9 Upper Dunmurry Lane Dunmurry Belfast BT17 0AA

Accountants | McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS

Gardenhill Properties Limited

(Registration number: NI064236)
Balance Sheet as at 30 June 2024

| Note | 2024 £ | 2023 £
Current assets |  |  |
Stocks | 4 | 2,914,517 | 1,715,097
Debtors | 5 | 66,000 | 87,545
Cash at bank and in hand |  | 109,811 | 38,059
|  | 3,090,328 | 1,840,701
Creditors: Amounts falling due within one year | 6 | (3,651,841) | (2,872,101)
Total assets less current liabilities |  | (561,513) | (1,031,400)
Creditors: Amounts falling due after more than one year | 6 | (2,387,780) | (2,446,197)
Net liabilities |  | (2,949,293) | (3,477,597)
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Profit and loss account |  | (2,949,295) | (3,477,599)
Total equity |  | (2,949,293) | (3,477,597)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2025 and signed on its behalf by:

.........................................

Mr Nick Stock
Director

Gardenhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
9 Upper Dunmurry Lane
Dunmurry
Belfast
BT17 0AA
Northern Ireland

These financial statements were authorised for issue by the Board on 7 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Gardenhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2 | Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Gardenhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2 | Accounting policies (continued)

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4 | Stocks

| 2024 £ | 2023 £
Work in progress | 2,914,517 | 1,715,097

5 | Debtors

| 2024 £ | 2023 £
Other debtors | 66,000 | 87,545
| 66,000 | 87,545

Gardenhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6 | Creditors

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Bank loans and overdrafts | 8 | 10,649 | 10,649
Trade creditors |  | 208,983 | 57,468
Taxation and social security |  | 274,598 | -
Other creditors |  | 2,045,370 | 1,694,533
Loans from directors |  | 75,070 | 77,498
Accruals and deferred income |  | 1,037,171 | 1,031,953
|  | 3,651,841 | 2,872,101
Due after one year |  |  |
Loans and borrowings | 8 | 8,829 | 26,299
Other non-current financial liabilities |  | 2,378,951 | 2,419,898
|  | 2,387,780 | 2,446,197

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

8 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 10,649 | 10,649

Gardenhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8 | Loans and borrowings (continued)

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 8,829 | 26,299
Other borrowings | 2,378,951 | 2,419,898
| 2,387,780 | 2,446,197