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Registered Number: 09474909
England and Wales

 

 

 

GREENART GARDEN DESIGN AND LANDSCAPING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 4   36 
Tangible fixed assets 5 28,575    48,888 
Investments 6 1    1 
28,576    48,925 
Current assets      
Stocks 7 980    13,630 
Debtors 8 80,419    70,518 
Cash at bank and in hand 3,511    (9,221)
84,910    74,927 
Creditors: amount falling due within one year 9 (146,813)   (205,167)
Net current liabilities (61,903)   (130,240)
 
Total assets less current liabilities (33,327)   (81,315)
Creditors: amount falling due after more than one year 10 (63,336)   (78,738)
Provisions for liabilities 11 (3,438)   (2,797)
Net liabilities (100,101)   (162,850)
 

Capital and reserves
     
Called up share capital 4    4 
Profit and loss account (100,105)   (162,854)
Shareholder's funds (100,101)   (162,850)
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 12 September 2023 and were signed on its behalf by:


-------------------------------
Joanne Smith
Director
1
General Information
Greenart Garden Design and Landscaping Limited is a private company, limited by shares, registered in England and Wales, registration number 09474909, registration address Unit 3 Ayres Yard, Station Road, Wallingford, OX10 0JZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade 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 companies activities.

Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
The tax expense for the period comprises current 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.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2023   2022
 
Number of directors to whom retirement benefits accrued Number   Number
Defined contribution plans 2    2 

3.

Average number of employees


Average number of employees during the year was 15 (2022 : 15).
4.

Intangible fixed assets

Cost Website Development   Total
  £   £
At 01 April 2022 2,250    2,250 
Additions  
Disposals  
At 31 March 2023 2,250    2,250 
Amortisation
At 01 April 2022 2,250    2,250 
Charge for year  
On disposals  
At 31 March 2023 2,250    2,250 
Net book values
At 31 March 2023  
At 31 March 2022  


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 April 2022 103,144    90,279    9,503    202,926 
Additions 2,073        2,073 
Disposals      
At 31 March 2023 105,217    90,279    9,503    204,999 
Depreciation
At 01 April 2022 90,201    77,060    9,163    176,424 
Charge for year      
On disposals      
At 31 March 2023 90,201    77,060    9,163    176,424 
Net book values
Closing balance as at 31 March 2023 15,016    13,219    340    28,575 
Opening balance as at 01 April 2022 22,079    26,039    770    48,888 

Assets Held on Hire Purchase
Included within the net book value of tangible fixed assets is £16,781 (2022: £42,102) in respect of assets held on finance leases or similar hire purchase contracts. Depreciation for the year on these assets was £14,070 (2022: £18,998).

6.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 April 2022 1    1 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2023 1    1 

7.

Stocks

2023
£
  2022
£
Stocks 980    13,630 
980    13,630 

8.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 11,792    24,368 
Prepayments & Accrued Income 1,882    1,958 
Other Debtors 20,404    13,984 
Corporation Tax   1,364 
Directors' Current Accounts 46,341    28,844 
80,419    70,518 

9.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 61,597    92,844 
Bank Loans & Overdrafts   17,455 
Credit Card Account (127)   9,704 
Corporation Tax 5,906   
PAYE & Social Security 9,893    6,970 
Accrued Expenses 12,695    14,751 
Other Creditors 10,782    10,781 
Obligations under HP/Financial Leases 18,166    29,494 
Wages & Salaries Control Account (2,139)  
VAT 30,040    23,168 
146,813    205,167 

10.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 58,182    58,182 
Obligations Under HP/Financial Leases 5,154    20,556 
63,336    78,738 

11.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 3,438    2,797 
3,438    2,797 

12.

Transactions with directors

At the balance sheet date the amount owed by the directors was £46,341 (2022: £28,844). Market rate interest was charged on this loan and it is repayable upon demand.
13.

Summary of transactions with wholly owned subsidiary

The company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the group.
2