The Garden Design Company (Midlands) Limited Filleted accounts for Companies House (small and micro)

The Garden Design Company (Midlands) Limited Filleted accounts for Companies House (small and micro)

THE GARDEN DESIGN COMPANY (MIDLANDS) LIMITED - Company Information

Print Friendly Version

32 false false false false false false false false false true false false false false false false No description of principal activity 2021-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 40,000 24,000 4,000 28,000 12,000 16,000 xbrli:pure xbrli:shares iso4217:GBP 09378342 2021-11-01 2022-10-31 09378342 2022-10-31 09378342 2021-10-31 09378342 2020-11-01 2021-10-31 09378342 2021-10-31 09378342 2020-10-31 09378342 core:NetGoodwill 2021-11-01 2022-10-31 09378342 core:PlantMachinery 2021-11-01 2022-10-31 09378342 core:MotorVehicles 2021-11-01 2022-10-31 09378342 bus:Director1 2021-11-01 2022-10-31 09378342 bus:Director2 2021-11-01 2022-10-31 09378342 core:NetGoodwill 2021-10-31 09378342 core:NetGoodwill 2022-10-31 09378342 core:PlantMachinery 2021-10-31 09378342 core:MotorVehicles 2021-10-31 09378342 core:PlantMachinery 2022-10-31 09378342 core:MotorVehicles 2022-10-31 09378342 core:WithinOneYear 2022-10-31 09378342 core:WithinOneYear 2021-10-31 09378342 core:AfterOneYear 2022-10-31 09378342 core:AfterOneYear 2021-10-31 09378342 core:ShareCapital 2022-10-31 09378342 core:ShareCapital 2021-10-31 09378342 core:RetainedEarningsAccumulatedLosses 2022-10-31 09378342 core:RetainedEarningsAccumulatedLosses 2021-10-31 09378342 core:NetGoodwill 2021-10-31 09378342 core:PlantMachinery 2021-10-31 09378342 core:MotorVehicles 2021-10-31 09378342 bus:Director1 2021-10-31 09378342 bus:Director1 2022-10-31 09378342 bus:Director2 2021-10-31 09378342 bus:Director2 2022-10-31 09378342 bus:Director1 2020-10-31 09378342 bus:Director1 2021-10-31 09378342 bus:Director2 2020-10-31 09378342 bus:Director2 2021-10-31 09378342 bus:Director1 2020-11-01 2021-10-31 09378342 bus:Director2 2020-11-01 2021-10-31 09378342 bus:SmallEntities 2021-11-01 2022-10-31 09378342 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 09378342 bus:FullAccounts 2021-11-01 2022-10-31 09378342 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 09378342 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 09378342 core:ComputerEquipment 2021-11-01 2022-10-31 09378342 core:ComputerEquipment 2021-10-31 09378342 core:ComputerEquipment 2022-10-31
COMPANY REGISTRATION NUMBER: 09378342
THE GARDEN DESIGN COMPANY (MIDLANDS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2022
THE GARDEN DESIGN COMPANY (MIDLANDS) LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
12,000
16,000
Tangible assets
6
48,662
64,856
--------
--------
60,662
80,856
CURRENT ASSETS
Stocks
86,743
108,879
Debtors
7
301,844
144,391
Cash at bank and in hand
352,493
360,245
---------
---------
741,080
613,515
CREDITORS: amounts falling due within one year
8
749,364
610,356
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 8,284)
3,159
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
52,378
84,015
CREDITORS: amounts falling due after more than one year
9
48,701
60,608
--------
--------
NET ASSETS
3,677
23,407
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
3,577
23,307
-------
--------
SHAREHOLDERS FUNDS
3,677
23,407
-------
--------
These 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 October 2022 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 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 financial statements .
THE GARDEN DESIGN COMPANY (MIDLANDS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2022
These financial statements were approved by the board of directors and authorised for issue on 31 July 2023 , and are signed on behalf of the board by:
Mr B Randall
Director
Company registration number: 09378342
THE GARDEN DESIGN COMPANY (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 11 The Warren, East Goscote Industrial Estate, East Goscote, Leicestershire, LE7 3XA.
2. STATEMENT OF COMPLIANCE
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 32 (2021: 32 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 November 2021 and 31 October 2022
40,000
--------
Amortisation
At 1 November 2021
24,000
Charge for the year
4,000
--------
At 31 October 2022
28,000
--------
Carrying amount
At 31 October 2022
12,000
--------
At 31 October 2021
16,000
--------
6. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2021
18,824
83,758
52,200
154,782
Additions
–
–
5,043
5,043
--------
--------
--------
---------
At 31 October 2022
18,824
83,758
57,243
159,825
--------
--------
--------
---------
Depreciation
At 1 November 2021
10,840
38,904
40,182
89,926
Charge for the year
1,996
11,213
8,028
21,237
--------
--------
--------
---------
At 31 October 2022
12,836
50,117
48,210
111,163
--------
--------
--------
---------
Carrying amount
At 31 October 2022
5,988
33,641
9,033
48,662
--------
--------
--------
---------
At 31 October 2021
7,984
44,854
12,018
64,856
--------
--------
--------
---------
7. DEBTORS
2022
2021
£
£
Trade debtors
67,825
24,864
Amounts owed by group undertakings and undertakings in which the company has a participating interest
68,675
–
Other debtors
165,344
119,527
---------
---------
301,844
144,391
---------
---------
8. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
5,156
5,000
Trade creditors
288,726
209,844
Amounts owed to group undertakings and undertakings in which the company has a participating interest
9,534
21,004
Corporation tax
23,377
37,685
Social security and other taxes
86,959
102,709
Other creditors
335,612
234,114
---------
---------
749,364
610,356
---------
---------
9. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
38,160
43,333
Other creditors
10,541
17,275
--------
--------
48,701
60,608
--------
--------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr B Randall
48,629
88,625
( 56,500)
80,754
Mr J Randall
42,133
67,508
( 56,500)
53,141
--------
---------
---------
---------
90,762
156,133
( 113,000)
133,895
--------
---------
---------
---------
2021
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr B Randall
48,658
101,271
( 101,300)
48,629
Mr J Randall
44,770
98,663
( 101,300)
42,133
--------
---------
---------
--------
93,428
199,934
( 202,600)
90,762
--------
---------
---------
--------