Garrison Barclay Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08432861 (England and Wales)

GARRISON BARCLAY INVESTMENTS LTD

PREVIOUSLY KNOWN AS

HEATHFIELD INDEPENDENT

SCHOOLS LTD

Unaudited Financial Statements

for the Period 29 August 2018 to 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A E McCarthy

REGISTERED OFFICE:

19 Windsor Place

Cardiff

CF10 3BY

REGISTERED NUMBER:

08432861 (England and Wales)

ACCOUNTANTS:

O'Brien & Partners

Chartered Accountants

Highdale House

7 Centre Court

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Tangible assets

4

6,475

7,400

Investments

5

2,054,209

2,054,209

Investment property

6

1,503,067

1,503,067

3,563,751

3,564,676

CURRENT ASSETS

Debtors

7

250,406

-

Cash at bank

686

1,767

251,092

1,767

CREDITORS

Amounts falling due within one year

8

3,021,902

2,724,898

NET CURRENT LIABILITIES

(2,770,810

)

(2,723,131

)

TOTAL ASSETS LESS CURRENT LIABILITIES

792,941

841,545

CREDITORS

Amounts falling due after more than one year

9

(717,786

)

(746,157

)

PROVISIONS FOR LIABILITIES

(58,297

)

(58,297

)

NET ASSETS

16,858

37,091

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

11

341,076

341,076

Retained earnings

(324,318

)

(304,085

)

16,858

37,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 December 2019 and were signed by:

A E McCarthy - Director

1.	STATUTORY INFORMATION

Garrison Barclay Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the

profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it

shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an

on-going basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 29 August 2018

and 31 March 2019

7,400

DEPRECIATION

Charge for period

925

At 31 March 2019

925

NET BOOK VALUE

At 31 March 2019

6,475

At 28 August 2018

7,400

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 29 August 2018

and 31 March 2019

2,054,209

NET BOOK VALUE

At 31 March 2019

2,054,209

At 28 August 2018

2,054,209

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 August 2018

and 31 March 2019

1,503,067

NET BOOK VALUE

At 31 March 2019

1,503,067

At 28 August 2018

1,503,067

The investment property was revalued on an open market basis in October 2013 by an independent firm, Christie and Co.

The property has been valued on an open market basis as a fully-equipped operational the entity having regard to its trading

potential. The directors are satisfied there has been no material change in the value at 31 March 2019.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

28.8.18

£

£

Amounts owed by group undertakings

202,354

-

Other debtors

48,052

-

250,406

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

28.8.18

£

£

Bank loans and overdrafts

79,102

79,102

Amounts owed to group undertakings

2,511,860

70,891

Other creditors

430,940

2,574,905

3,021,902

2,724,898

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

28.8.18

£

£

Bank loans

717,786

746,157

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

401,353

429,724

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

28.8.18

£

£

Bank loans

796,888

825,259

Barclays Bank Plc hold a fixed and floating charge over the property and undertakings of the company.

Monkton House Kings College (Cardiff) Educational Trust Limited hold a charge over all monies due or to become due

from the company to the chargee.

11.

RESERVES

Revaluation

reserve

£

At 29 August 2018

and 31 March 2019

341,076