REGISTERED NUMBER: 03279097 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Garrard Developments Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

5

-

-

Investment property

6

1,070,000

890,000

1,070,000

890,000

CURRENT ASSETS

Debtors

7

1,467

23,467

Cash at bank

30,845

32,528

32,312

55,995

CREDITORS

Amounts falling due within one year

8

353,517

385,231

NET CURRENT LIABILITIES

(321,205

)

(329,236

)

TOTAL ASSETS LESS CURRENT LIABILITIES

748,795

560,764

PROVISIONS FOR LIABILITIES

12,140

-

NET ASSETS

736,655

560,764

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

72,900

(72,900

)

Retained earnings

663,753

633,662

736,655

560,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 15 July 2026 and were signed on its behalf by:

Mr J B Garrard - Director

1.	STATUTORY INFORMATION

Garrard Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03279097

Registered office:

22 Boulton Road

Stevenage

Hertfordshire

SG1 4QX

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover comprises the fair value of the consideration received or receivable on rental income from investment properties. 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 fixed 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.

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:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

Investment property

The investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by either an external valuer or the director. Any changes in fair value are recognised in profit or loss.The accounting policy is in accordance with FRS102.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed for bad debts on an annual basis. Any adjustment is made accordingly through the profit and loss account.

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 at the transaction price.

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

Going concern

At the balance sheet date, the company had net current liabilities of £321,205 (2025: £329,236).The directors have pledged to financially support the company for a period of at least 12 months from the date of signing and therefore feels it is appropriate to prepare the accounts under the going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2025

and 31 March 2026

1,700

DEPRECIATION

At 1 April 2025

and 31 March 2026

1,700

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

6.	INVESTMENT PROPERTY

The investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Any changes in the fair value are recognised in the profit and loss account. The accounting policy is in accordance with FRS102.

The below amount is considered to be the open market value of the investment properties held at the balance sheet date as valued by the director.

Any property remortgaged during the period was subject to a valuation by an independent third party during the process of arranging mortgages on the properties concerned.

Fair value at 31 March 2026 is represented by:

£

Valuation in 2026

180,000

Valuation in 2025

(90,000

)

Cost

980,000

1,070,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,250

1,200

Deferred tax asset

-

22,060

Prepayments

217

207

1,467

23,467

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

733

974

Tax

3,188

-

Social security and other taxes

-

457

Directors' current accounts

342,544

376,967

Accrued expenses

2,496

2,400

Deferred Income

4,556

4,433

353,517

385,231

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the directors were owed £342,544 (2025: £376,967) by the company. This loan is provided interest free and is repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is John Brett Garrard, by virtue of his shareholdings.

11.	SHARE CAPITAL

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2