Registered number
07943647
Knoll Gardens Limited
Unaudited Filleted Accounts
31 March 2023
Knoll Gardens Limited
Registered number: 07943647
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 101,895 108,049
Current assets
Stocks 100,817 105,087
Debtors 4 - 19,728
Cash at bank and in hand 242,276 241,240
343,093 366,055
Creditors: amounts falling due within one year 5 (104,694) (120,312)
Net current assets 238,399 245,743
Total assets less current liabilities 340,294 353,792
Creditors: amounts falling due after more than one year 6 (32,426) (52,972)
Provisions for liabilities (3,949) (3,536)
Net assets 303,919 297,284
Capital and reserves
Called up share capital 100 100
Share premium 29,970 29,970
Profit and loss account 273,849 267,214
Shareholders' funds 303,919 297,284
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr NR Lucas
Director
Approved by the board on 8 June 2023
Knoll Gardens Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Between 7 and 10 years
Fixtures, fittings, tools and equipment 7 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 107,097 67,791 174,888
Additions - 379 379
At 31 March 2023 107,097 68,170 175,267
Depreciation
At 1 April 2022 17,681 49,158 66,839
Charge for the year 3,681 2,852 6,533
At 31 March 2023 21,362 52,010 73,372
Net book value
At 31 March 2023 85,735 16,160 101,895
At 31 March 2022 89,416 18,633 108,049
4 Debtors 2023 2022
£ £
Other debtors - 19,728
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,597 10,648
Trade creditors 41,194 45,476
Taxation and social security costs 32,158 42,788
Other creditors 21,745 21,400
104,694 120,312
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,426 32,972
Other creditors 8,000 20,000
32,426 52,972
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr RA Humphrey
No terms attached repayable on demand 7,351 18,203 (25,900) (346)
Mr NR Lucas
No terms attached repayable on demand 12,376 26,474 (38,850) -
19,727 44,677 (64,750) (346)
8 Related party transactions
A dvidend was paid to Mr RA Humphrey a Director and Shareholder £25,900 (2022 - £24,800) and Mr NR Lucas a Director and Shareholder £38,850 (2022 -£37,200)
9 Controlling party
The ultimate controlling party is Mr NR Lucas.
10 Other information
Knoll Gardens Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stapehill Road
Stapehill
Wimborne
BH21 7ND
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