Liberty Garden Buildings Ltd 10297564 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is sale of garden buildings Digita Accounts Production Advanced 6.30.9574.0 true true 10297564 2022-08-01 2023-07-31 10297564 2023-07-31 10297564 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 10297564 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 10297564 core:FurnitureFittingsToolsEquipment 2023-07-31 10297564 bus:SmallEntities 2022-08-01 2023-07-31 10297564 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10297564 bus:FullAccounts 2022-08-01 2023-07-31 10297564 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 10297564 bus:RegisteredOffice 2022-08-01 2023-07-31 10297564 bus:Director1 2022-08-01 2023-07-31 10297564 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10297564 core:FurnitureFittings 2022-08-01 2023-07-31 10297564 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 10297564 countries:EnglandWales 2022-08-01 2023-07-31 10297564 2022-07-31 10297564 core:FurnitureFittingsToolsEquipment 2022-07-31 10297564 2021-08-01 2022-07-31 10297564 2022-07-31 10297564 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 10297564 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 10297564 core:FurnitureFittingsToolsEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 10297564

Liberty Garden Buildings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Liberty Garden Buildings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Liberty Garden Buildings Ltd

(Registration number: 10297564)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

30,823

33,007

Current assets

 

Stocks

6

12,366

12,257

Cash at bank and in hand

 

23,921

33,952

 

36,287

46,209

Creditors: Amounts falling due within one year

7

(10,532)

(11,317)

Net current assets

 

25,755

34,892

Total assets less current liabilities

 

56,578

67,899

Creditors: Amounts falling due after more than one year

7

(12,158)

(11,530)

Provisions for liabilities

(662)

(474)

Net assets

 

43,758

55,895

Capital and reserves

 

Called up share capital

100

100

Retained earnings

43,658

55,795

Shareholders' funds

 

43,758

55,895

 

Liberty Garden Buildings Ltd

(Registration number: 10297564)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 October 2023 and signed on its behalf by:
 

.........................................
Mr D C J Acheson
Director

 

Liberty Garden Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 Ailesbury Way
Burbage
Marlborough
Wiltshire
SN8 3TD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of garden buildings in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Liberty Garden Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10-25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for garden buildings sold in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Liberty Garden Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

3,558

3,678

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

50,538

50,538

Additions

1,374

1,374

At 31 July 2023

51,912

51,912

Depreciation

At 1 August 2022

17,531

17,531

Charge for the year

3,558

3,558

At 31 July 2023

21,089

21,089

Carrying amount

At 31 July 2023

30,823

30,823

At 31 July 2022

33,007

33,007

6

Stocks

2023
£

2022
£

Other inventories

12,366

12,257

 

Liberty Garden Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

10,532

11,317

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

12,158

11,530

8

Related party transactions

Other transactions with directors

D Acheson had a loan with the company. At the balance sheet date the amount owed to D Acheson was £12,158 (2022: £11,530).