Garl Property Co Ltd - Filleted accounts

Registered number

15334404

Garl Property Co Ltd

Filleted Accounts

31 December 2024

Garl Property Co Ltd
Registered number:		15334404
Balance Sheet
as at 31 December 2024

Notes			2024
£
Fixed assets
Investments	3		126,223

Current assets
Cash at bank and in hand		716

Creditors: amounts falling due within one year	4	(38,123)

Net current liabilities			(37,407)

Total assets less current liabilities			88,816

Creditors: amounts falling due after more than one year	5		(91,800)



Net liabilities			(2,984)

Capital and reserves
Called up share capital			2
Profit and loss account			(2,986)

Shareholders' funds			(2,984)

The directors are 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 directors acknowledge their 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.




J Halpin-Riley
Director
Approved by the board on 19 November 2025

Garl Property Co Ltd
Notes to the Accounts
for the period from 7 December 2023 to 31 December 2024


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).

	Investments
	Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

	Taxation
	Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits. For non-depreciable assets measured using the revaluation model and investment properties measured at fair value (except investment property with a limited useful life held by the company to consume substantially all of its economic benefit), deferred tax is measured using the tax rates and allowances that apply to the sale of the asset or property.


2	Employees	2024
Number

	Average number of persons employed by the company	0


3	Investments

Investment
property
£
	Cost
	Additions		126,223

	At 31 December 2024		126,223

	Historical cost
	At 31 December 2024		126,223


	Investment property comprises freehold property. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.


4	Creditors: amounts falling due within one year	2024
£

	Trade creditors	480
	Other creditors	37,643
		38,123


5	Creditors: amounts falling due after one year	2024
£

	Bank loans	91,800


6	Related party transactions

	During the year the directors maintained a joint current account with the company. Included in other creditors at the year end was a credit balance of £37,643.


7	Other information

	Garl Property Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	31 Follingsby Drive
	Gateshead
	NE10 8YH