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REGISTERED NUMBER: 11255632 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GARDEN KING LIMITED

GARDEN KING LIMITED (REGISTERED NUMBER: 11255632)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GARDEN KING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: G G Ingram
Mrs C Ingram





REGISTERED OFFICE: Woodlands Farm
Freasley
Tamworth
Staffordshire
B78 2EY





REGISTERED NUMBER: 11255632 (England and Wales)





AUDITORS: Philip Barnes & Co Limited
Chartered Accountants
Statutory Auditors
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

GARDEN KING LIMITED (REGISTERED NUMBER: 11255632)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,290,870 1,550,365

CURRENT ASSETS
Stocks 917,525 576,020
Debtors 5 208,881 104,142
Cash at bank and in hand 235,909 79,147
1,362,315 759,309
CREDITORS
Amounts falling due within one year 6 545,736 441,139
NET CURRENT ASSETS 816,579 318,170
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,107,449

1,868,535

CREDITORS
Amounts falling due after more than one
year

7

(2,078,920

)

(1,117,727

)

PROVISIONS FOR LIABILITIES (67,000 ) (19,000 )
NET ASSETS 961,529 731,808

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 961,429 731,708
SHAREHOLDERS' FUNDS 961,529 731,808

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





G G Ingram - Director


GARDEN KING LIMITED (REGISTERED NUMBER: 11255632)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Garden King 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.

The company's parent undertaking Ingram Retailing Ltd, includes the company in it's consolidated financial statements, and these are available at its registered office Woodlands Farm, Freasley, Tamworth, Staffordshire, B78 2EY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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.

The company's parent undertaking Ingram Retailing Ltd, includes the company in it's consolidated financial statements, and these are available at its registered office Woodlands Farm, Freasley, Tamworth, Staffordshire, B78 2EY.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% - 20% straight line
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at lower of cost, and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

GARDEN KING LIMITED (REGISTERED NUMBER: 11255632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was 38 (2021 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2022 1,579,560 90,559 13,368 1,683,487
Additions 795,204 55,376 - 850,580
Disposals - (4,576 ) - (4,576 )
At 31 December 2022 2,374,764 141,359 13,368 2,529,491
DEPRECIATION
At 1 January 2022 93,342 32,114 7,666 133,122
Charge for year 74,833 32,221 1,426 108,480
Eliminated on disposal - (2,981 ) - (2,981 )
At 31 December 2022 168,175 61,354 9,092 238,621
NET BOOK VALUE
At 31 December 2022 2,206,589 80,005 4,276 2,290,870
At 31 December 2021 1,486,218 58,445 5,702 1,550,365

Included in cost of land and buildings is freehold land of £ 315,680 (2021 - £ 315,680 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 184 47
Amounts owed by group undertakings 107,969 95,014
Other debtors 100,728 9,081
208,881 104,142

GARDEN KING LIMITED (REGISTERED NUMBER: 11255632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 8) 35,111 33,129
Hire purchase contracts 2,730 3,116
Trade creditors 197,674 128,654
Amounts owed to group undertakings 201,475 212,719
Taxation and social security 94,132 58,571
Other creditors 14,614 4,950
545,736 441,139

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans (see note 8) 578,920 614,997
Hire purchase contracts - 2,730
Amounts owed to group undertakings 1,500,000 500,000
2,078,920 1,117,727

8. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 35,111 33,129

Amounts falling due between one and two years:
Bank loans 36,771 33,919

Amounts falling due between two and five years:
Bank loans 542,149 581,078

The bank holds fixed and floating charges over the assets and rights of the company.

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 614,031 648,126

GARDEN KING LIMITED (REGISTERED NUMBER: 11255632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Humphreys FCA (Senior Statutory Auditor)
for and on behalf of Philip Barnes & Co Limited