Registered number
09020693
Victoria Garden Centre Limited
Filleted Accounts
31 May 2023
Victoria Garden Centre Limited
Registered number: 09020693
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 417,726 400,754
Current assets
Stocks 2,500 1,000
Debtors 4 22,989 -
Cash at bank and in hand 18,199 21,234
43,688 22,234
Creditors: amounts falling due within one year 5 (323,748) (310,698)
Net current liabilities (280,060) (288,464)
Total assets less current liabilities 137,666 112,290
Creditors: amounts falling due after more than one year 6 (20,378) (26,608)
Net assets 117,289 85,682
Capital and reserves
Called up share capital 100 100
Profit and loss account 117,189 85,582
Shareholders' funds 117,289 85,682
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. K. Miller
Director
Approved by the board on 17 July 2023
Victoria Garden Centre Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings
Motor Vehicles 25% Reducing balance
Plant and machinery 20% Reducing balance
Fixtures, fittings, tools and equipment 15% Reducing balance
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.
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.
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 6 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 381,086 31,577 39,031 451,694
Additions - 24,527 - 24,527
At 31 May 2023 381,086 56,104 39,031 476,221
Depreciation
At 1 June 2022 - 22,162 28,779 50,941
Charge for the year - 4,350 3,204 7,554
At 31 May 2023 - 26,512 31,983 58,495
Net book value
At 31 May 2023 381,086 29,592 7,048 417,726
At 31 May 2022 381,086 9,415 10,252 400,753
4 Debtors 2023 2022
£ £
Trade debtors 22,989 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 29,536 26,392
Trade creditors 56,244 31,107
Taxation and social security costs 14,360 16,578
Wages Control 1,064 3,062
Other creditors 222,544 233,559
323,748 310,698
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,378 26,608
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr. K. Miller
Directors Loan Account (116,379) 20,945 (15,438) (110,872)
Mrs. W. Miller
Directors Loan Account (116,379) 20,945 (15,438) (110,872)
(232,758) 41,890 (30,876) (221,744)
8 Controlling party
The company is controlled by the directors by virtue of their shareholdings
9 Other information
Victoria Garden Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit E Crown Business Park
Dukestown
Tredegar
Gwent
NP22 4EF
Victoria Garden Centre Limited 09020693 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 Mr. K. Miller No description of principal activity 09020693 2021-06-01 2022-05-31 09020693 core:WithinOneYear 2022-05-31 09020693 core:AfterOneYear 2022-05-31 09020693 core:ShareCapital 2022-05-31 09020693 core:RetainedEarningsAccumulatedLosses 2022-05-31 09020693 2022-06-01 2023-05-31 09020693 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09020693 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09020693 bus:Director40 2022-06-01 2023-05-31 09020693 2 2022-06-01 2023-05-31 09020693 core:LandBuildings 2022-06-01 2023-05-31 09020693 core:PlantMachinery 2022-06-01 2023-05-31 09020693 core:Vehicles 2022-06-01 2023-05-31 09020693 bus:Director1 2022-06-01 2023-05-31 09020693 bus:Director1 1 2022-06-01 2023-05-31 09020693 bus:Director2 2022-06-01 2023-05-31 09020693 bus:Director2 1 2022-06-01 2023-05-31 09020693 countries:England 2022-06-01 2023-05-31 09020693 bus:FRS102 2022-06-01 2023-05-31 09020693 bus:FullAccounts 2022-06-01 2023-05-31 09020693 2023-05-31 09020693 core:WithinOneYear 2023-05-31 09020693 core:AfterOneYear 2023-05-31 09020693 core:ShareCapital 2023-05-31 09020693 core:RetainedEarningsAccumulatedLosses 2023-05-31 09020693 core:LandBuildings 2023-05-31 09020693 core:PlantMachinery 2023-05-31 09020693 core:Vehicles 2023-05-31 09020693 bus:Director1 1 2023-05-31 09020693 bus:Director2 1 2023-05-31 09020693 2022-05-31 09020693 core:LandBuildings 2022-05-31 09020693 core:PlantMachinery 2022-05-31 09020693 core:Vehicles 2022-05-31 09020693 bus:Director1 1 2022-05-31 09020693 bus:Director2 1 2022-05-31 iso4217:GBP xbrli:pure