The Achiltibuie Garden Ltd Filleted accounts for Companies House (small and micro)

THE ACHILTIBUIE GARDEN LTD - Company Information

2 false false false false false false false false false true false false true true true true true true No description of principal activity 2019-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP SC339195 2019-04-01 2020-03-31 SC339195 2020-03-31 SC339195 2019-03-31 SC339195 2018-04-01 2019-03-31 SC339195 2019-03-31 SC339195 2018-03-31 SC339195 core:PlantMachinery 2019-04-01 2020-03-31 SC339195 core:FurnitureFittings 2019-04-01 2020-03-31 SC339195 bus:Director1 2019-04-01 2020-03-31 SC339195 bus:Director2 2019-04-01 2020-03-31 SC339195 bus:Director3 2019-04-01 2020-03-31 SC339195 core:WithinOneYear 2020-03-31 SC339195 core:WithinOneYear 2019-03-31 SC339195 core:AfterOneYear 2020-03-31 SC339195 core:AfterOneYear 2019-03-31 SC339195 core:ShareCapital 2020-03-31 SC339195 core:ShareCapital 2019-03-31 SC339195 core:RetainedEarningsAccumulatedLosses 2020-03-31 SC339195 core:RetainedEarningsAccumulatedLosses 2019-03-31 SC339195 bus:Director1 2019-03-31 SC339195 bus:Director1 2018-03-31 SC339195 bus:Director2 2019-03-31 SC339195 bus:Director2 2018-03-31 SC339195 bus:Director3 2019-03-31 SC339195 bus:Director3 2018-03-31 SC339195 bus:SmallEntities 2019-04-01 2020-03-31 SC339195 bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 SC339195 bus:AbridgedAccounts 2019-04-01 2020-03-31 SC339195 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 SC339195 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 SC339195 core:OfficeEquipment 2019-04-01 2020-03-31

COMPANY REGISTRATION NUMBER: SC339195

The Achiltibuie Garden Ltd

Filleted Unaudited Abridged Financial Statements

For the year ended

31 March 2020

The Achiltibuie Garden Ltd

Abridged Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		6,817	8,421

Current assets

Stocks	8,034	7,519
Debtors	713	1,226
Cash at bank and in hand	4,779	5,383
	--------	--------
	13,526	14,128

Creditors: amounts falling due within one year	702		1,167
	--------		--------
Net current assets		12,824	12,961
		--------	--------
Total assets less current liabilities		19,641	21,382

Creditors: amounts falling due after more than one year	171,598	171,598
	---------	---------
Net liabilities	( 151,957)	( 150,216)
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 152,057)	( 150,316)
	---------	---------
Shareholders deficit	( 151,957)	( 150,216)
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

The Achiltibuie Garden Ltd

Abridged Statement of Financial Position (continued)

31 March 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 27 November 2020 , and are signed on behalf of the board by:

Mrs A M Graham

Director

Company registration number: SC339195

The Achiltibuie Garden Ltd

Notes to the Abridged Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 103 Achiltibuie, Ullapool, Ross-shire, IV26 2YG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Greenhouses	-	15% reducing balance
Equipment	-	20% reducing balance
Office equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

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 entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).

5. Tangible assets

	£
Cost
At 1 April 2019 and 31 March 2020	53,911
	--------
Depreciation
At 1 April 2019	45,490
Charge for the year	1,604
	--------
At 31 March 2020	47,094
	--------
Carrying amount
At 31 March 2020	6,817
	--------
At 31 March 2019	8,421
	--------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2020	2019
	£	£
Mrs A M Graham	( 1,532)	( 1,532)
Mrs J A Edwards	( 1,533)	( 1,533)
Mr A Graham	( 12,000)	( 12,000)
	--------	--------
	( 15,065)	( 15,065)
	--------	--------

7. Related party transactions