Company No: 03000668 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	71,069		84,931
Investments	4	100		100
		71,169		85,031
Current assets
Stocks	5	121,073		42,392
Debtors	6	552,040		639,025
Cash at bank and in hand		87,705		49,963
		760,818		731,380
Creditors
Amounts falling due within one year	7	( 116,607)		( 160,568)
Net current assets		644,211		570,812
Total assets less current liabilities		715,380		655,843
Creditors
Amounts falling due after more than one year	8	( 9,793)		( 15,669)
Provisions for liabilities		( 8,829)		( 11,752)
Net assets		696,758		628,422
Capital and reserves
Called-up share capital		200		200
Profit and loss account		696,558		628,222
Total shareholders' funds		696,758		628,422

For the financial year ending 30 November 2021 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Almagrove Limited (registered number: 03000668) were approved and authorised for issue by the Board of Directors on 21 April 2022. They were signed on its behalf by:

D Grimes Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Almagrove Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles	20 % reducing balance
Fixtures and fittings	20 % reducing balance
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	16		14

3. Tangible assets

	Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 December 2020	64,211		200,017		56,576		320,804
Additions	0		5,587		1,139		6,726
Disposals	( 445)		0		( 17,028)		( 17,473)
At 30 November 2021	63,766		205,604		40,687		310,057
Accumulated depreciation
At 01 December 2020	18,527		164,474		52,872		235,873
Charge for the financial year	9,091		7,469		3,799		20,359
Disposals	( 216)		0		( 17,028)		( 17,244)
At 30 November 2021	27,402		171,943		39,643		238,988
Net book value
At 30 November 2021	36,364		33,661		1,044		71,069
At 30 November 2020	45,684		35,543		3,704		84,931

4. Fixed asset investments

	Other investments		Total
	£		£
Carrying value before impairment
At 01 December 2020	100		100
At 30 November 2021	100		100
Provisions for impairment
At 01 December 2020	0		0
At 30 November 2021	0		0
Carrying value at 30 November 2021	100		100
Carrying value at 30 November 2020	100		100

5. Stocks

	2021		2020
	£		£
Stocks	121,073		42,392

6. Debtors

	2021		2020
	£		£
Trade debtors	5,500		460,121
Amounts owed by related parties	79,278		0
Prepayments	20,924		23,552
Other debtors	446,338		155,352
	552,040		639,025

7. Creditors: amounts falling due within one year

	2021		2020
	£		£
Trade creditors	29,810		23,983
Amounts owed to directors	( 6,369)		4,546
Other creditors	37,545		65,102
Accruals	1,925		2,046
Corporation tax	32,509		43,995
Other taxation and social security	15,311		12,109
Obligations under finance leases and hire purchase contracts	5,876		8,787
	116,607		160,568

8. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Obligations under finance leases and hire purchase contracts	9,793		15,669

There are no amounts included above in respect of which any security has been given by the small entity.