Company Registration No. 10568306 (England and Wales)
Garnham Developments Limited
Unaudited accounts
for the year ended 31 December 2025
Garnham Developments Limited
Unaudited accounts
Contents
Garnham Developments Limited
Company Information
for the year ended 31 December 2025
Directors
Katherine Anna Skerry
Anthony Philip Skerry
Company Number
10568306 (England and Wales)
Registered Office
Stebbings Car Centre Ltd
Hamlin Way
Hardwick Narrows
King's Lynn
Norfolk
PE30 4NG
England
Garnham Developments Limited
Statement of financial position
as at 31 December 2025
Investment property
385,000
255,000
Inventories
993,619
1,317,148
Cash at bank and in hand
183,964
2,733
Net current assets
1,181,783
1,321,178
Total assets less current liabilities
1,566,783
1,576,178
Creditors: amounts falling due after more than one year
(1,537,120)
(1,742,874)
Net assets/(liabilities)
29,663
(166,696)
Profit and loss account
29,663
(166,696)
Shareholders' funds
29,663
(166,696)
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2026 and were signed on its behalf by
Anthony Philip Skerry
Director
Company Registration No. 10568306
Garnham Developments Limited
Notes to the Accounts
for the year ended 31 December 2025
Garnham Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 10568306. The registered office is Stebbings Car Centre Ltd, Hamlin Way, Hardwick Narrows, King's Lynn, Norfolk, PE30 4NG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
At 31 December 2024 the Company has a net asset position of £29,663. The Company meets its financing requirements through the support from the directors. At the period end £1,125,970 was owed to the directors and £398,262 owed to entities under common control. The directors will continue to provide financial support to the Company to allow it to meet its liabilities as they fall due and continue to trade.
The Directors have considered the Company’s position at the time of signing the financial statements, including financial forecasts and projections and the financial strength of the Company.
Based on this, the directors have concluded that the Company will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of approval of these financial statements. The directors therefore continue to adopt the going concern basis in preparing the financial statements.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Garnham Developments Limited
Notes to the Accounts
for the year ended 31 December 2025
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss).
When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities.
Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Profit and loss account includes all current and prior period retained profit and losses less dividends paid.
Fair value reserves comprises the surplus arising on historical valuation of the Company's investment properties.
Fair value at 1 January 2025
255,000
At 31 December 2025
385,000
Garnham Developments Limited
Notes to the Accounts
for the year ended 31 December 2025
Amounts falling due after more than one year
6
Creditors: amounts falling due after more than one year
2025
2024
Trade creditors
11,188
11,188
Other creditors
197,417
398,262
Taxes and social security
-
4,909
Loans from directors
1,326,815
1,326,815
7
Transactions with related parties
At the year end the Company owed a balance on directors loan accounts of £1,125,970 (As stated 2024: £1,326,815) which is included in Other Creditors.
At the year end the Company owed a balance to entities under common control of £398,262 (2024: £398,262) which is included in Other Creditors.
8
Average number of employees
During the year the average number of employees was 1 (2024: 2).