ACCOUNTS - Final Accounts

NORTHFIELD GARDEN CENTRE LIMITED - Company Information

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Registered number: 00972843

NORTHFIELD GARDEN CENTRE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020

NORTHFIELD GARDEN CENTRE LIMITED

REGISTERED NUMBER: 00972843

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due within one year	3	2,674		2,674
		2,674		2,674
Creditors: amounts falling due within one year	4	(1,814)		(1,814)
Net current assets			860		860
Total assets less current liabilities			860		860

Net assets			860		860

Capital and reserves
Called up share capital	2	2
Profit and loss account	858	858
	860	860

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NORTHFIELD GARDEN CENTRE LIMITED

REGISTERED NUMBER: 00972843

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2020

For the year ended 31 December 2020 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A C Harker

Director

Date: 23 November 2021

The notes on pages 3 to 5 form part of these financial statements.

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NORTHFIELD GARDEN CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

The principal activity of Northfield Garden Centre Limited was that of renting its nursery site to a trading company, this activity ceased in the previous year.
The company is a private company limited by shares and is incorporated in England and Wales.
The registered office address is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Going concern

The company is reliant upon the directors for financial support. The directors have confirmed their continued support for the company.

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NORTHFIELD GARDEN CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.3

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets aresubsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Debtors

					2020	2019
					£	£


Other debtors	2,674	2,674

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NORTHFIELD GARDEN CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

4.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Other creditors	1,724	1,724
Accruals and deferred income	90	90
	1,814	1,814

5.	Related party transactions
	Included within other debtors is a balance of £2,674 (2019 : £2,674) owed by PlantCo UK Ltd, the parent company. This balance is unsecured and interest free, with no fixed repayment terms.

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