The Barn Plant & Garden Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09682493 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

The Barn Plant & Garden Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

R Doubleday

Mrs R A Doubleday

Registered office:

Barnplants

Turkey Cock Lane

Stanway

Colchester

Essex

CO3 8ND

Registered number:

09682493 (England and Wales)

FIXED ASSETS

Tangible assets

4

171,289

153,155

CURRENT ASSETS

Stocks

124,217

102,818

Debtors

5

8,073

13,257

Cash at bank and in hand

571,580

405,017

703,870

521,092

CREDITORS

Amounts falling due within one year

6

312,179

222,584

NET CURRENT ASSETS

391,691

298,508

TOTAL ASSETS LESS CURRENT LIABILITIES

562,980

451,663

CREDITORS

Amounts falling due after more than one year

7

(94,602

)

(128,030

)

PROVISIONS FOR LIABILITIES

(22,151

)

(29,099

)

NET ASSETS

446,227

294,534

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

446,127

294,434

SHAREHOLDERS' FUNDS

446,227

294,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 25 September 2022 and were signed on its behalf by:

R Doubleday - Director

Mrs R A Doubleday - Director

1.	STATUTORY INFORMATION

The Barn Plant & 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.

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.

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 15% on reducing balance and 10% on cost

Stocks

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

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 29 (2020 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2021

226,010

Additions

48,728

At 31 December 2021

274,738

Depreciation

At 1 January 2021

72,855

Charge for year

30,594

At 31 December 2021

103,449

Net book value

At 31 December 2021

171,289

At 31 December 2020

153,155

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

Plant and

machinery

etc

£

Cost

Additions

28,400

At 31 December 2021

28,400

Depreciation

Charge for year

4,260

At 31 December 2021

4,260

Net book value

At 31 December 2021

24,140

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

-

6,654

Amounts owed by associates

5,000

-

Other debtors

3,073

6,603

8,073

13,257

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

23,636

-

Hire purchase contracts

6,390

-

Trade creditors

120,702

67,968

Amounts owed to associates

45,829

48,971

Taxation and social security

112,980

74,913

Other creditors

2,642

30,732

312,179

222,584

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

80,757

128,030

Hire purchase contracts

13,845

-

94,602

128,030

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Bank Loan

104,394

128,030

Fixed and Floating Charge over all property and undertakings.