Company Registration No. 06247431 (England and Wales)
Banwell Garden Centre Limited
Unaudited accounts
for the year ended 31 December 2021
Banwell Garden Centre Limited
Unaudited accounts
Contents
Banwell Garden Centre Limited
Company Information
for the year ended 31 December 2021
Company Number
06247431 (England and Wales)
Registered Office
BANWELL GARDEN CENTRE BANWELL NURSERIES
CASTLE HILL
BANWELL
SOMERSET
BS29 6NX
Accountants
Poolbridge Accountancy Limited
Forge Enterprise Centre
3 Church Road, West Huntspill
Highbridge
Somerset
TA9 3RN
Banwell Garden Centre Limited
Statement of financial position
as at 31 December 2021
Intangible assets
47,999
55,999
Tangible assets
106,501
94,784
Cash at bank and in hand
458,453
414,225
Creditors: amounts falling due within one year
(409,385)
(422,836)
Net current assets
143,434
103,065
Total assets less current liabilities
297,934
253,848
Provisions for liabilities
Deferred tax
(8,157)
(6,243)
Net assets
289,777
247,605
Called up share capital
1
1
Profit and loss account
289,776
247,604
Shareholders' funds
289,777
247,605
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2022 and were signed on its behalf by
Mr R G Swatridge
Director
Company Registration No. 06247431
Banwell Garden Centre Limited
Notes to the Accounts
for the year ended 31 December 2021
Banwell Garden Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 06247431. The registered office is BANWELL GARDEN CENTRE BANWELL NURSERIES, CASTLE HILL, BANWELL, SOMERSET, BS29 6NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is calculated on a 5% straight line basis.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Banwell Garden Centre Limited
Notes to the Accounts
for the year ended 31 December 2021
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
At 31 December 2021
159,999
At 31 December 2021
112,000
At 31 December 2021
47,999
At 31 December 2020
55,999
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2021
74,184
127,998
46,375
14,109
2,844
265,510
Additions
-
1,290
23,990
-
749
26,029
At 31 December 2021
74,184
129,288
70,365
14,109
3,593
291,539
At 1 January 2021
10,617
125,242
24,234
9,289
1,344
170,726
Charge for the year
-
1,012
11,533
1,205
562
14,312
At 31 December 2021
10,617
126,254
35,767
10,494
1,906
185,038
At 31 December 2021
63,567
3,034
34,598
3,615
1,687
106,501
At 31 December 2020
63,567
2,756
22,141
4,820
1,500
94,784
6
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
1,206
2,332
Banwell Garden Centre Limited
Notes to the Accounts
for the year ended 31 December 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
44,167
51,002
Obligations under finance leases and hire purchase contracts
31,353
-
Trade creditors
141,030
175,141
Taxes and social security
87,304
41,540
Loans from directors
104,005
129,582
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Company
(182,794)
78,789
-
(104,005)
(182,794)
78,789
-
(104,005)
9
Average number of employees
During the year the average number of employees was 20 (2020: 17).