S J Gardens Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04668630 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

S J Gardens Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Gard

Mrs K Gard

D S Stephens

SECRETARY:

Braywood Ltd

REGISTERED OFFICE:

35 Station Approach

West Byfleet

Surrey

KT14 6NF

REGISTERED NUMBER:

04668630 (England and Wales)

ACCOUNTANTS:

Braywood Ltd

35 Station Approach

West Byfleet

Surrey

KT14 6NF

FIXED ASSETS

Tangible assets

4

123,198

86,978

123,198

86,978

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

5

364,145

297,455

Cash at bank

1,451

33,154

367,596

332,609

CREDITORS

Amounts falling due within one year

6

178,374

215,754

NET CURRENT ASSETS

189,222

116,855

TOTAL ASSETS LESS CURRENT LIABILITIES

312,420

203,833

CREDITORS

Amounts falling due after more than one year

7

(55,721

)

(50,034

)

PROVISIONS FOR LIABILITIES

(27,922

)

(14,071

)

NET ASSETS

228,777

139,728

CAPITAL AND RESERVES

Called up share capital

130

130

Retained earnings

228,647

139,598

SHAREHOLDERS' FUNDS

228,777

139,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 10 February 2023 and were signed on its behalf by:

D S Stephens - Director

1.	STATUTORY INFORMATION

S J Gardens 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.

The director expects that trading over the next twelve months will generate positive cash flows and has therefore continued to adopt the going concern basis of preparing these financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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

-

25% on reducing balance and 25% on cost

Plant and machinery - 33 1/3% on cost

Plant and machinery - over the life of the asset

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.

Covid-19

The company has managed to remain profitable despite the pandemic.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2021 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2021

189,511

Additions

80,171

Disposals

(14,000

)

At 28 February 2022

255,682

DEPRECIATION

At 1 March 2021

102,533

Charge for year

35,201

Eliminated on disposal

(5,250

)

At 28 February 2022

132,484

NET BOOK VALUE

At 28 February 2022

123,198

At 28 February 2021

86,978

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

Plant and

machinery

etc

£

COST

At 1 March 2021

49,105

Additions

29,464

Disposals

(14,000

)

At 28 February 2022

64,569

DEPRECIATION

At 1 March 2021

32,030

Charge for year

10,103

Eliminated on disposal

(5,250

)

At 28 February 2022

36,883

NET BOOK VALUE

At 28 February 2022

27,686

At 28 February 2021

17,075

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

296,985

259,889

Other debtors

67,160

37,566

364,145

297,455

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans and overdrafts

10,000

4,167

Hire purchase contracts

5,304

5,428

Trade creditors

72,611

108,935

Taxation and social security

48,699

55,618

Other creditors

41,760

41,606

178,374

215,754

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans

35,833

45,834

Hire purchase contracts

19,888

4,200

55,721

50,034

28.2.22

28.2.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

5,834

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.22

28.2.21

£

£

Hire purchase contracts

25,192

9,628

The HP agreements are secured against the machinery and motor vehicles being purchased through the agreements. They have a net book value of £27,687.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2022 and 28 February 2021:

28.2.22

28.2.21

£

£

S J Gard

Balance outstanding at start of year

-

-

Amounts advanced

25,105

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,105

-

The loan to the director is repayable upon demand and interest is charged in accordance with HMRC's beneficial loan rates.

10.	ULTIMATE CONTROLLING PARTY

S J Gard was the ultimate controlling party during this financial year.