Style Gardens Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03876990 (England and Wales)

STYLE GARDENS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G.N. Pugh

I.M. Pugh

C O Hitchings

SECRETARY:

C O Hitchings

REGISTERED OFFICE:

PORT ROAD

WENVOE

CARDIFF

CF5 6AD

REGISTERED NUMBER:

03876990 (England and Wales)

ACCOUNTANTS:

HODGE BAKSHI

CHARTERED ACCOUNTANTS

CHURCHGATE HOUSE

CHURCH ROAD

CARDIFF

CF14 2DX

FIXED ASSETS

Tangible assets

2

559,975

611,254

CURRENT ASSETS

Stocks

97,119

118,119

Debtors

40,331

21,200

Cash at bank and in hand

19,585

9,907

157,035

149,226

CREDITORS

Amounts falling due within one year

3

243,637

291,621

NET CURRENT LIABILITIES

(86,602

)

(142,395

)

TOTAL ASSETS LESS CURRENT LIABILITIES

473,373

468,859

CREDITORS

Amounts falling due after more than one year

(395,354

)

(421,718

)

ACCRUALS AND DEFERRED INCOME

(23,620

)

(25,618

)

NET ASSETS

54,399

21,523

CAPITAL AND RESERVES

Called up share capital

4

110,000

110,000

Revaluation reserve

269,815

292,300

Profit and loss account

(325,416

)

(380,777

)

SHAREHOLDERS' FUNDS

54,399

21,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 September 2016 and were signed on its behalf by:

G.N. Pugh - Director

1.	ACCOUNTING POLICIES

Going concern

At the Balance sheet date the Company had net current liabilities of £86,602. The Directors are aware

of the position and have taken steps with a view to securing the future of the Company.The profits of

the Company have been steadily increasing in the last two years. The Company can also rely on the

continued support of the Company's bankers and its Parent company.

The Directors have prepared forecasts for the next twelve months. They believe that these forecasts

are based on realistic income assumptions and are confident that the Company will continue to be able

to meet its debts as they fall due.

If the Company were unable to continue in operational existence for the foreseeable future,

adjustments would have to be made to reduce the Balance sheet values of assets to their recoverable

amounts and to provide for further liabilities that might arise, and to reclassify fixed assets and long

term liabilities as current assets and liabilities. The Directors believe that it is appropriate for the

financial statements to be prepared on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

Short leasehold

-

Over term of lease

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets

at their fair value. The capital element of the future payments is treated as a liability and interest is

charged to the Profit and Loss Account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership

remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 February 2015

1,265,381

Additions

3,753

At 31 January 2016

1,269,134

DEPRECIATION

At 1 February 2015

654,127

Charge for year

55,032

At 31 January 2016

709,159

NET BOOK VALUE

At 31 January 2016

559,975

At 31 January 2015

611,254

3.

CREDITORS

Creditors include an amount of £ 68,677 (2015 - £ 119,570 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

110,000

Ordinary Shares of

£1

110,000

110,000

5.	ULTIMATE PARENT COMPANY