All-In-One Garden Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01630338 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2018 TO 31 JULY 2019

FOR

ALL-IN-ONE GARDEN CENTRE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs B. Stafford

Mr J.B. Stafford

Mrs A.J. Dixon

Mr G. Knowles

SECRETARY:

Mr J.B. Stafford

REGISTERED OFFICE:

Rochdale Road

Middleton

Greater Manchester

M24 2RB

REGISTERED NUMBER:

01630338 (England and Wales)

ACCOUNTANTS:

Wyatt, Morris, Golland Ltd

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Tangible assets

4

1,327,607

1,317,999

Investments

5

774,304

774,304

2,101,911

2,092,303

CURRENT ASSETS

Stocks

191,802

288,282

Debtors

73,676

64,489

Cash at bank and in hand

19,468

3,620

284,946

356,391

CREDITORS

Amounts falling due within one year

1,438,766

1,824,116

NET CURRENT LIABILITIES

(1,153,820

)

(1,467,725

)

TOTAL ASSETS LESS CURRENT LIABILITIES

948,091

624,578

CREDITORS

Amounts falling due after more than one year

6

500,469

7,855

NET ASSETS

447,622

616,723

CAPITAL AND RESERVES

Called up share capital

88,970

88,970

Retained earnings

358,652

527,753

447,622

616,723

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2019 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 27 February 2020 and were signed on its behalf by:

Mrs B. Stafford - Director

Mr J.B. Stafford - Director

1.	STATUTORY INFORMATION

All-In-One Garden Centre Limited 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.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates

In the process of applying the entity's accounting policies management have not made any judgements that would

have a significant effect on the amounts recognised in the financial statements. No estimations have been made

that would have a significant risk of causing a material adjustment to the carrying amounts of assets and

liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on valuation

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

at varying rates on cost

Land and buildings held and used in the Company's own activities for production and supply of goods or for

administrative purposes are stated in the statement of financial position at their revalued amounts. The revalued

amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses

subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially

differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve in

'other reserves'.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property

revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to

retained earnings unless an asset is derecognised.

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same manner as owned assets.

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to

determine whether there is any indication that any items of property, plant and equipment have suffered an

impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to

determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount

of the assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset

belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the

asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount and would have been determined (net of depreciation) had no impairment loss

be recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured

at their settlement value with the exception of bank loans which are subsequently measured at amortised cost

using the effective interest method.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 43 (2018 - 43 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 November 2018

2,176,528

Additions

46,556

Disposals

(14,230

)

At 31 July 2019

2,208,854

DEPRECIATION

At 1 November 2018

858,529

Charge for period

35,029

Eliminated on disposal

(12,311

)

At 31 July 2019

881,247

NET BOOK VALUE

At 31 July 2019

1,327,607

At 31 October 2018

1,317,999

The freehold land and buildings are situated at Rochdale Road, Middleton, Manchester, M24 2RB.

Cost or valuation at 31 July 2019 is represented by:

Totals

£

Valuation in 2018

1,220,000

Cost

988,854

2,208,854

If freehold land & buildings had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

1,385,372

1,385,372

Aggregate depreciation

811,828

811,828

Freehold land and buildings were valued on an open market basis on 31 October 2018 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 November 2018

17,530

Additions

44,144

At 31 July 2019

61,674

DEPRECIATION

At 1 November 2018

5,344

Charge for period

5,812

At 31 July 2019

11,156

NET BOOK VALUE

At 31 July 2019

50,518

At 31 October 2018

12,186

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 November 2018

and 31 July 2019

774,304

NET BOOK VALUE

At 31 July 2019

774,304

At 31 October 2018

774,304

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2019

2018

£

£

Repayable by instalments

Bank loans more 5 yr by instal

293,771

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdraft

-

350,846

Bank loans

508,856

-

508,856

350,846