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Registered number: 11203678 GARDEN PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 JULY 2025
GARDEN PROPERTIES LIMITED REGISTERED NUMBER: 11203678 STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 34,662 |  | 43,328
Investment property |  |  | 3,805,000 |  | 3,864,000
|  |  | 3,839,662 |  | 3,907,328
Current assets |  |  |  |  |
Debtors |  | 29,163 |  | 145,336 |
Cash at bank and in hand |  | 26,829 |  | 6,597 |
|  | 55,992 |  | 151,933 |
Creditors: amounts falling due within one year | 6 | (3,113,034) |  | (3,026,635) |
Net current liabilities |  |  | (3,057,042) |  | (2,874,702)
Total assets less current liabilities |  |  | 782,620 |  | 1,032,626
Creditors: amounts falling due after more than one year | 7 |  | - |  | (510,000)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (126,082) |  | (74,832) |
|  |  | (126,082) |  | (74,832)
Net assets |  |  | 656,538 |  | 447,794
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 656,537 |  | 447,793
|  |  | 656,538 |  | 447,794
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GARDEN PROPERTIES LIMITED REGISTERED NUMBER: 11203678 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 JULY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 April 2026.
Daniel MCPherson
Director
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GARDEN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Garden Properties Limited is a private company limited by shares and registred in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. 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.
| 2.3 | Revenue
Revenue relates to rental income and is recognised in the period that it pertains to. Any rental income received in advance is deferred to the period it relates to, excluding VAT.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
GARDEN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 20% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
GARDEN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.10 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 1 August 2024 | 105,800
| At 31 July 2025 | 105,800
| Depreciation |
| At 1 August 2024 | 62,472
| Charge for the year on owned assets | 8,666
| At 31 July 2025 | 71,138
| Net book value |
| At 31 July 2025 | 34,662
| At 31 July 2024 | 43,328
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GARDEN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
5. | Investment property
|  | Long term leasehold investment property
|  | £
| Valuation |
| At 1 August 2024 | 3,864,000
| Disposals | (264,000)
| Surplus on revaluation | 205,000
| At 31 July 2025 | 3,805,000
| Investment properties have been valued by the director using recent third-party valuations combined with datafrom sales of similar properties. The property valuations are based on expected rental income, together with recent sales of properties in the same or similar buildings. If the investment properties had been stated at historical cost rather than at fair value, the amounts would have been £3,300,672 (2024: £3,564,672).
The 2025 valuations were made by the estate agent managing the properties, NPP Residentials, on an open market value for existing use basis.
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 3,300,672 | 3,564,672
|  | 3,300,672 | 3,564,672
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,060,000 | 1,050,000
| Trade creditors | 2,369 | 16,212
| Amounts owed to group undertakings | 1,602,449 | 1,866,449
| Corporation tax | - | 33,791
| Other creditors | 418,004 | 23,650
| Accruals and deferred income | 30,212 | 36,533
|  | 3,113,034 | 3,026,635
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GARDEN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 510,000
|  | - | 510,000
8. | Related party transactions
| At the reporting date, the company owed £403,074 to the director (2024: £99,062 owed by the director). The company also owed £14,930 (2024: £23,650) to companies under common control. All amounts are interest-free, unsecured, and repayable on demand.
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