The Garden And Home Trading Company Limi - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07992560 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

THE GARDEN AND HOME TRADING COMPANY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R C Sharp

REGISTERED OFFICE:

Unit 1 Millenium City Park

Millenium Road

Preston

Lancashire

PR2 5BL

REGISTERED NUMBER:

07992560 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Intangible assets

4

115,500

122,500

Tangible assets

5

11,386

21,438

126,886

143,938

CURRENT ASSETS

Stocks

6

382,638

416,005

Debtors

7

236,255

109,266

Cash at bank and in hand

237,069

94,249

855,962

619,520

CREDITORS

Amounts falling due within one year

8

407,956

387,237

NET CURRENT ASSETS

448,006

232,283

TOTAL ASSETS LESS CURRENT LIABILITIES

574,892

376,221

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

574,891

376,220

SHAREHOLDERS' FUNDS

574,892

376,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 December 2018 and were signed by:

R C Sharp - Director

1.	STATUTORY INFORMATION

The Garden And Home Trading Company 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the invoiced value of goods sold, net of value added tax. Sales are recognised as turnover

on dispatch to customers.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods

have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is

probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred

or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Purchased goodwill representing the excess of fair value of the consideration given and fair value of the

separable net assets acquired, arising on the purchase of trade and assets, is capitalised. Positive goodwill is

amortised to nil by equal instalments over its estimated useful life which is 20 years, due to the economic value

of the brand names and/or customer relationships which have been acquired.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life

Plant and machinery

- 33.3% on cost

Fixtures and fittings

- 33.3% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and

the carrying value of the asset, and is credited or charged to profit and loss.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower,

the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate

of its recoverable amount, but not in excess of the amount that would have been determined had no impairment

loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in

profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over

its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its

financial instruments.

A basic financial instrument is a contract that gives rise to a financial asset in one entity and a financial liability

or equity instrument of another entity.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method 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.

Financial assets classified as receivable within one year are not amortised. Trade and other debtors and amounts

owed to group undertakings are measured at the undiscounted amount of cash or other consideration expected to

be received.

Financial assets are assessed for indicators of impairment at each reporting end date with any impairment loss

being recognised in profit and loss.

Basic financial liabilities, including creditors, bank loans and loans to group companies or connected parties are

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.

Bank and other loans and hire purchase contracts are initially measured at the present value of future payments,

discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Going concern

The director believes that the company has sufficient trade and financial resources to continue in operational

existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial

statements has been adopted.

Employee benefits

The cost of short-term employee benefits are recognised as a liability and as an expense, unless those costs are

required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are

received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to

terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

597,508

AMORTISATION

At 1 April 2017

475,008

Amortisation for year

7,000

At 31 March 2018

482,008

NET BOOK VALUE

At 31 March 2018

115,500

At 31 March 2017

122,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2017

60,386

52,611

112,997

Additions

1,030

-

1,030

At 31 March 2018

61,416

52,611

114,027

DEPRECIATION

At 1 April 2017

49,852

41,707

91,559

Charge for year

8,243

2,839

11,082

At 31 March 2018

58,095

44,546

102,641

NET BOOK VALUE

At 31 March 2018

3,321

8,065

11,386

At 31 March 2017

10,534

10,904

21,438

6.

STOCKS

31/3/18

31/3/17

£

£

Stocks

382,638

416,005

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade debtors

28,634

26,933

Other debtors

130,000

-

VAT

10,680

-

Deferred tax asset

6,942

76,783

Prepayments

59,999

5,550

236,255

109,266

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade creditors

366,372

344,224

Other creditors

468

468

Accrued expenses

41,116

42,545

407,956

387,237

9.	DEFERRED TAX

£

Balance at 1 April 2017

(76,783

)

Charge to Income Statement during year

69,841

Balance at 31 March 2018

(6,942

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/18

31/3/17

value:

£

£

1

Ordinary

£1

1

1