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Registration number: 07118028

Creative Roots Landscaping Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

Creative Roots Landscaping Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Creative Roots Landscaping Limited

Company Information

Directors

Mr K Sutcliffe

Mr N Sutcliffe

Registered office

Unit 12, Wholesale District
Clarke Road
Nottingham
NG2 3JJ

Accountants

Vanilla Accounting Limited
Appleton House
Vanilla Accounting Ltd
25 Rectory Road
Nottingham
Nottinghamshire
NG2 6BE

 

Creative Roots Landscaping Limited

(Registration number: 07118028)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

25,104

17,763

Current assets

 

Stocks

5

14,987

21,440

Debtors

6

70,540

16,889

Cash at bank and in hand

 

47,478

42,716

 

133,005

81,045

Creditors: Amounts falling due within one year

7

(112,605)

(69,857)

Net current assets

 

20,400

11,188

Total assets less current liabilities

 

45,504

28,951

Creditors: Amounts falling due after more than one year

7

(40,111)

(25,000)

Provisions for liabilities

(4,770)

(3,405)

Net assets

 

623

546

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

523

446

Shareholders' funds

 

623

546

 

Creative Roots Landscaping Limited

(Registration number: 07118028)
Balance Sheet as at 31 January 2022

For the financial year ending 31 January 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 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 30 August 2022 and signed on its behalf by:
 

.........................................
Mr N Sutcliffe
Director

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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:
Unit 12, Wholesale District
Clarke Road
Nottingham
NG2 3JJ

These financial statements were authorised for issue by the Board on 30 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.

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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

Plant and machinery

33% straight line

Motor vehicles

20% reducing balance (previously25% straight line)

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2021 - 19).

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2021

75,511

28,573

104,084

Additions

11,651

3,833

15,484

Disposals

(9,850)

-

(9,850)

At 31 January 2022

77,312

32,406

109,718

Depreciation

At 1 February 2021

59,962

26,359

86,321

Charge for the year

5,440

2,703

8,143

Eliminated on disposal

(9,850)

-

(9,850)

At 31 January 2022

55,552

29,062

84,614

Carrying amount

At 31 January 2022

21,760

3,344

25,104

At 31 January 2021

15,549

2,214

17,763

5

Stocks

2022
£

2021
£

Work in progress

9,987

16,440

Other inventories

5,000

5,000

14,987

21,440

6

Debtors

Current

2022
£

2021
£

Trade debtors

48,823

5,649

Prepayments

6,710

3,350

Other debtors

15,007

7,890

 

70,540

16,889

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

10,925

-

Trade creditors

 

22,535

24,358

Taxation and social security

 

38,256

33,300

Accruals and deferred income

 

37,322

1,002

Other creditors

 

3,567

11,197

 

112,605

69,857

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,600 (2021 - £Nil).

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

40,111

25,000

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £22,400 (2021 - £Nil).

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

40,111

25,000

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,925

-

10

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £160.00 (2021 - £235.00) per each £1 Ordinary

 

16,000

 

22,000

         

11

Related party transactions

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Transactions with directors

2022

At 1 February 2021
£

Advances to director
£

Repayments by director
£

At 31 January 2022
£

Mr N Sutcliffe

Transactions with directors

7,889

27,807

(20,689)

15,007

         
       

Mr K Sutcliffe

Transactions with directors

(8,498)

11,502

(3,200)

(196)

         
       

 

2021

At 1 February 2020
£

Advances to director
£

Repayments by director
£

At 31 January 2021
£

Mr N Sutcliffe

Transactions with directors

(111)

25,600

(17,600)

7,889

         
       

Mr K Sutcliffe

Transactions with directors

(8,098)

4,000

(4,400)

(8,498)

         
       

 

 

Creative Roots Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

10,924

7,200

12

Parent and ultimate parent undertaking

The ultimate controlling party is the directors by virtue of their shareholdings in the company.