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Registration number: 08771038

Eazy Garden Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

Eazy Garden Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 12

 

Eazy Garden Limited

Company Information

Directors

Mr Thomas Edward Clark

Mrs Gemma Michelle Clark

Registered office

Dana House
Spinneys Lane
Ferndown
Dorset
BH22 9BZ

Bankers

Santander UK plc
2 Triton Square
Regent's Place
London
NW1 3AN

Accountants

Avencia Tax and Accountancy Ltd
Chartered Tax Advisers
13a Mill Lane
Wimborne
Dorset
BH21 1LN

 

Eazy Garden Limited

Directors' Report and responsibilities for the Year Ended 30 November 2021

The directors present their report and the financial statements for the year ended 30 November 2021.

Directors responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Incorporation

The company was incorporated on 12 November 2013.

Directors of the company

The directors who held office during the year were as follows:

Mr Thomas Edward Clark

Mrs Gemma Michelle Clark

Principal activity

The principal activity of the company is grounds maintenance, landscaping and invasive weed control.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 24 August 2022 and signed on its behalf by:
 

.........................................
Mr Thomas Edward Clark
Director

.........................................
Mrs Gemma Michelle Clark
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Eazy Garden Limited
for the Year Ended 30 November 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eazy Garden Limited for the year ended 30 November 2021 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Taxation (CIOT), we are subject to its ethical and other professional requirements which are detailed at https://www.tax.org.uk/professional-
standards/professional-rules/professional-rules-and-practice-guidelines.

This report is made solely to the Board of Directors of Eazy Garden Limited, as a body, in accordance with the terms of our engagement letter dated 17 September 2018. Our work has been undertaken solely to prepare for your approval the accounts of Eazy Garden Limited and state those matters that we have agreed to state to the Board of Directors of Eazy Garden Limited, as a body, in this report in accordance with CIOT. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eazy Garden Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eazy Garden Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eazy Garden Limited. You consider that Eazy Garden Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Eazy Garden Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Avencia Tax and Accountancy Ltd
Chartered Tax Advisers
13a Mill Lane
Wimborne
Dorset
BH21 1LN

24 August 2022

 

Eazy Garden Limited

(Registration number: 08771038)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

10,918

21,909

Current assets

 

Debtors

5

52,500

36,313

Cash at bank and in hand

 

3,179

10,892

 

55,679

47,205

Creditors: Amounts falling due within one year

6

(43,710)

(31,164)

Net current assets

 

11,969

16,041

Total assets less current liabilities

 

22,887

37,950

Creditors: Amounts falling due after more than one year

6

(20,775)

(33,325)

Provisions for liabilities

(2,075)

(4,163)

Net assets

 

37

462

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(63)

362

Shareholders' funds

 

37

462

For the financial year ending 30 November 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 August 2022 and signed on its behalf by:
 

 

Eazy Garden Limited

(Registration number: 08771038)
Balance Sheet as at 30 November 2021

.........................................
Mr Thomas Edward Clark
Director

.........................................
Mrs Gemma Michelle Clark
Director

 
     
 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dana House
Spinneys Lane
Ferndown
Dorset
BH22 9BZ

These financial statements were authorised for issue by the Board on 24 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance method

Office equipment

25% reducing balance method

Plant and machinery

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2020 - 5).

 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2020

2,629

20,324

19,392

42,345

Additions

-

-

1,640

1,640

Disposals

-

(20,324)

-

(20,324)

At 30 November 2021

2,629

-

21,032

23,661

Depreciation

At 1 December 2020

938

11,333

8,165

20,436

Charge for the year

423

749

3,217

4,389

Eliminated on disposal

-

(12,082)

-

(12,082)

At 30 November 2021

1,361

-

11,382

12,743

Carrying amount

At 30 November 2021

1,268

-

9,650

10,918

At 30 November 2020

1,691

8,991

11,227

21,909

5

Debtors

Current

Note

2021
£

2020
£

Trade debtors

 

20,324

17,621

Amounts owed by related parties

704

-

Prepayments

 

299

367

Other debtors

 

31,173

18,325

   

52,500

36,313

 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

5,514

4,978

trade creditors

 

7,080

6,152

Taxation and social security

 

26,285

15,946

Accruals and deferred income

 

1,310

1,318

Other creditors

 

3,521

2,770

 

43,710

31,164

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

20,775

33,325

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Eazy Garden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

20,775

23,754

Hire purchase contracts

-

9,571

20,775

33,325

2021
£

2020
£

Current loans and borrowings

Bank borrowings

2,783

1,925

Bank overdrafts

2,731

-

Hire purchase contracts

-

3,053

5,514

4,978