5 false false false false false false false false false true false false false false false false No description of principal activity 2021-02-27 Sage Accounts Production Advanced 2021 - FRS102_2021 9,694 9,694 969 969 8,725 9,385 9,385 3,128 3,128 6,257 xbrli:pure xbrli:shares iso4217:GBP 13233301 2021-02-27 2021-12-31 13233301 2021-12-31 13233301 core:PatentsTrademarksLicencesConcessionsSimilar 2021-02-27 2021-12-31 13233301 bus:RegisteredOffice 2021-02-27 2021-12-31 13233301 bus:LeadAgentIfApplicable 2021-02-27 2021-12-31 13233301 bus:Director1 2021-02-27 2021-12-31 13233301 bus:Director2 2021-02-27 2021-12-31 13233301 core:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 13233301 core:WithinOneYear 2021-12-31 13233301 core:AfterOneYear 2021-12-31 13233301 core:ShareCapital 2021-12-31 13233301 core:SharePremium 2021-12-31 13233301 core:OtherReservesSubtotal 2021-12-31 13233301 core:RetainedEarningsAccumulatedLosses 2021-12-31 13233301 bus:SmallEntities 2021-02-27 2021-12-31 13233301 bus:AuditExemptWithAccountantsReport 2021-02-27 2021-12-31 13233301 bus:FullAccounts 2021-02-27 2021-12-31 13233301 bus:SmallCompaniesRegimeForAccounts 2021-02-27 2021-12-31 13233301 bus:PrivateLimitedCompanyLtd 2021-02-27 2021-12-31 13233301 core:ComputerEquipment 2021-02-27 2021-12-31 13233301 core:ComputerEquipment 2021-12-31 13233301 core:Share-basedArrangement1 2021-02-27 2021-12-31
COMPANY REGISTRATION NUMBER: 13233301
One Garden Group Ltd
Filleted Unaudited Financial Statements
31 December 2021
One Garden Group Ltd
Financial Statements
Period from 27 February 2021 to 31 December 2021
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
One Garden Group Ltd
Officers and Professional Advisers
The board of directors
SHD Adelman
SL Lambert
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
One Garden Group Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of One Garden Group Ltd
Period from 27 February 2021 to 31 December 2021
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the period ended 31 December 2021, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
One Garden Group Ltd
Statement of Financial Position
31 December 2021
31 Dec 21
Note
£
Fixed assets
Intangible assets
5
8,725
Tangible assets
6
6,257
--------
14,982
Current assets
Debtors
7
15,827
Cash at bank and in hand
2,479,890
------------
2,495,717
Creditors: amounts falling due within one year
8
17,918
------------
Net current assets
2,477,799
------------
Total assets less current liabilities
2,492,781
Creditors: amounts falling due after more than one year
9
120,000
------------
Net assets
2,372,781
------------
Capital and reserves
Called up share capital
11
12
Share premium account
2,938,368
Share options reserve
1
Profit and loss account
( 565,600)
------------
Shareholders funds
2,372,781
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
One Garden Group Ltd
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 14 September 2022 , and are signed on behalf of the board by:
SHD Adelman
Director
Company registration number: 13233301
One Garden Group Ltd
Notes to the Financial Statements
Period from 27 February 2021 to 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 .
5. Intangible assets
Patents, trademarks and licences
£
Cost
Additions
9,694
-------
At 31 December 2021
9,694
-------
Amortisation
Charge for the period
969
-------
At 31 December 2021
969
-------
Carrying amount
At 31 December 2021
8,725
-------
6. Tangible assets
Equipment
£
Cost
At 27 February 2021
Additions
9,385
-------
At 31 December 2021
9,385
-------
Depreciation
At 27 February 2021
Charge for the period
3,128
-------
At 31 December 2021
3,128
-------
Carrying amount
At 31 December 2021
6,257
-------
7. Debtors
31 Dec 21
£
Other debtors
15,827
--------
8. Creditors: amounts falling due within one year
31 Dec 21
£
Trade creditors
10,733
Other creditors
7,185
--------
17,918
--------
9. Creditors: amounts falling due after more than one year
31 Dec 21
£
Other creditors
120,000
---------
10. Share-based payments
During the period, the company issued a total of 33,356 share options, 28,344 to 8 employees (none of whom are a director) and 5,012 to 7 non-employees. 9,157 options had vested at the period end. No options were exercised or any lapsed in the period. The WAEP of each option is £0.00001 each.
Details of the number and weighted average exercise prices (WAEP) of share options during the period are as follows:
31 Dec 21
No.
WAEP
Granted during the period
33,356
--------
----
Outstanding at 31 December 2021
33,356
--------
----
Exercisable at 31 December 2021
33,356
--------
----
The total expense recognised in profit or loss for the period is as follows:
31 Dec 21
£
Equity-settled share-based payments
1
----
The actual amount of options vested at 31 December 2021 is £0.09 rounded up to £1.
11. Called up share capital
During the period, the company issued 206,185 Ordinary and Series Seed shares for a total consideration of £2,999,992.