The Modern Garden Company Limited - Abbreviated accounts 16.1

The Modern Garden Company Limited - Abbreviated accounts 16.1

THE MODERN GARDEN COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 03874618 (England and Wales)












ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2015

FOR

THE MODERN GARDEN COMPANY LIMITED

THE MODERN GARDEN COMPANY LIMITED (REGISTERED NUMBER: 03874618)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

THE MODERN GARDEN COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2015







DIRECTOR: Ms L Isham





REGISTERED OFFICE: 108 High Street
Stevenage
Hertfordshire
SG1 3DW





REGISTERED NUMBER: 03874618 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
108 High Street
Stevenage
Hertfordshire
SG1 3DW
Page 1
THE MODERN GARDEN COMPANY LIMITED (REGISTERED NUMBER: 03874618)

ABBREVIATED BALANCE SHEET
31ST DECEMBER 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 9,028 11,212
9,028 11,212

CURRENT ASSETS
Stocks 5,288 10,463
Debtors 12,110 31,403
Cash at bank 225,528 196,216
242,926 238,082
CREDITORS
Amounts falling due within one year 126,784 121,872
NET CURRENT ASSETS 116,142 116,210
TOTAL ASSETS LESS CURRENT
LIABILITIES
125,170
127,422

PROVISIONS FOR LIABILITIES 1,707 2,122
NET ASSETS 123,463 125,300

CAPITAL AND RESERVES
Called up share capital 4 310 310
Capital redemption reserve 7,560 7,560
Other reserves 59,940 59,940
Profit and loss account 55,653 57,490
SHAREHOLDERS' FUNDS 123,463 125,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these abbreviated accounts

Page 2 continued...
THE MODERN GARDEN COMPANY LIMITED (REGISTERED NUMBER: 03874618)

ABBREVIATED BALANCE SHEET - continued
31ST DECEMBER 2015


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 director on 2nd September 2016 and were signed by:





Ms L Isham - Director


The notes form part of these abbreviated accounts

Page 3
THE MODERN GARDEN COMPANY LIMITED (REGISTERED NUMBER: 03874618)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2015

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The director has assessed various factors and risks affecting the company and its ability in these difficult
economic times to continue to trade as a going concern. The director has not identified any material uncertainties
or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities
as at the balance sheet date and therefore the financial statements for the year ended 31st December 2015 have
been prepared using the going concern basis of accounting.

Accounting convention
The financial statements have been prepared under the historical cost convention 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - 25% on reducing balance

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
Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1st January 2015
and 31st December 2015 17,500
AMORTISATION
At 1st January 2015
and 31st December 2015 17,500
NET BOOK VALUE

At 31st December 2015 -
At 31st December 2014 -

Page 4 continued...
THE MODERN GARDEN COMPANY LIMITED (REGISTERED NUMBER: 03874618)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st January 2015 38,488
Additions 825
At 31st December 2015 39,313
DEPRECIATION
At 1st January 2015 27,276
Charge for year 3,009
At 31st December 2015 30,285
NET BOOK VALUE
At 31st December 2015 9,028
At 31st December 2014 11,212

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
158 Ordinary "D" £1 158 158
152 Ordinary "E" £1 152 152
310 310

All classes of share rank pari passu.

Page 5