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2022-02-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
01411253
2022-02-01
2023-01-31
01411253
2023-01-31
01411253
2022-01-31
01411253
2021-02-01
2022-01-31
01411253
2022-01-31
01411253
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-02-01
2023-01-31
01411253
core:PlantMachinery
2022-02-01
2023-01-31
01411253
core:FurnitureFittings
2022-02-01
2023-01-31
01411253
core:MotorVehicles
2022-02-01
2023-01-31
01411253
bus:Director3
2022-02-01
2023-01-31
01411253
core:LandBuildings
2022-01-31
01411253
core:PlantMachinery
2022-01-31
01411253
core:FurnitureFittings
2022-01-31
01411253
core:MotorVehicles
2022-01-31
01411253
core:LandBuildings
2023-01-31
01411253
core:PlantMachinery
2023-01-31
01411253
core:FurnitureFittings
2023-01-31
01411253
core:MotorVehicles
2023-01-31
01411253
core:LandBuildings
2022-02-01
2023-01-31
01411253
core:WithinOneYear
2023-01-31
01411253
core:WithinOneYear
2022-01-31
01411253
core:AfterOneYear
2023-01-31
01411253
core:AfterOneYear
2022-01-31
01411253
core:ShareCapital
2023-01-31
01411253
core:ShareCapital
2022-01-31
01411253
core:CapitalRedemptionReserve
2023-01-31
01411253
core:CapitalRedemptionReserve
2022-01-31
01411253
core:RetainedEarningsAccumulatedLosses
2023-01-31
01411253
core:RetainedEarningsAccumulatedLosses
2022-01-31
01411253
core:LandBuildings
2022-01-31
01411253
core:PlantMachinery
2022-01-31
01411253
core:FurnitureFittings
2022-01-31
01411253
core:MotorVehicles
2022-01-31
01411253
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2023-01-31
01411253
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2022-01-31
01411253
bus:SmallEntities
2022-02-01
2023-01-31
01411253
bus:AuditExemptWithAccountantsReport
2022-02-01
2023-01-31
01411253
bus:FullAccounts
2022-02-01
2023-01-31
01411253
bus:SmallCompaniesRegimeForAccounts
2022-02-01
2023-01-31
01411253
bus:PrivateLimitedCompanyLtd
2022-02-01
2023-01-31
01411253
core:EntityControlledByKeyManagementPersonnel1
2022-02-01
2023-01-31
COMPANY REGISTRATION NUMBER:
01411253
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 January 2023
Fixed assets
Tangible assets |
5 |
|
519,808 |
465,081 |
|
|
|
|
|
Current assets
Stocks |
78,349 |
|
85,556 |
Debtors |
6 |
2,495,980 |
|
2,485,382 |
Cash at bank and in hand |
565,799 |
|
319,001 |
|
------------ |
|
------------ |
|
3,140,128 |
|
2,889,939 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
1,553,390 |
|
1,402,889 |
|
------------ |
|
------------ |
Net current assets |
|
1,586,738 |
1,487,050 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
2,106,546 |
1,952,131 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
219,612 |
214,506 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
1,647 |
(
27,967) |
|
|
------------ |
------------ |
Net assets |
|
1,885,287 |
1,765,592 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
66 |
66 |
Capital redemption reserve |
|
34 |
34 |
Profit and loss account |
|
1,885,187 |
1,765,492 |
|
|
------------ |
------------ |
Shareholders funds |
|
1,885,287 |
1,765,592 |
|
|
------------ |
------------ |
|
|
|
|
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 January 2023
These financial statements were approved by the
board of directors
and authorised for issue on
18 October 2023
, and are signed on behalf of the board by:
Company registration number:
01411253
Notes to the Financial Statements |
|
Year ended 31 January 2023
1.
General information
Afan Landscapes Limited
is a private company limited by shares and incorporated in Wales. Its registered office is Water Street, Margam, Port Talbot, SA13 2PA. The company operates within the United Kingdom and its principal activities are that of hard and soft landscapers.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property |
- |
2% straight line |
|
Plant and machinery |
- |
25% reducing balance |
|
Fixtures and fittings |
- |
15% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of the financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains and losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constrant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then is classed as an equity instrument. Dividends and distribution relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
69
(2022:
68
).
5.
Tangible assets
|
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 February 2022 |
155,621 |
553,187 |
75,974 |
766,054 |
1,550,836 |
Additions |
1,314 |
8,930 |
3,251 |
173,331 |
186,826 |
Disposals |
– |
– |
(
13,951) |
(
41,100) |
(
55,051) |
|
--------- |
--------- |
-------- |
--------- |
------------ |
At 31 January 2023 |
156,935 |
562,117 |
65,274 |
898,285 |
1,682,611 |
|
--------- |
--------- |
-------- |
--------- |
------------ |
Depreciation |
|
|
|
|
|
At 1 February 2022 |
13,555 |
484,550 |
41,958 |
545,692 |
1,085,755 |
Charge for the year |
2,512 |
19,392 |
4,977 |
97,521 |
124,402 |
Disposals |
– |
– |
(
9,865) |
(
37,489) |
(
47,354) |
|
--------- |
--------- |
-------- |
--------- |
------------ |
At 31 January 2023 |
16,067 |
503,942 |
37,070 |
605,724 |
1,162,803 |
|
--------- |
--------- |
-------- |
--------- |
------------ |
Carrying amount |
|
|
|
|
|
At 31 January 2023 |
140,868 |
58,175 |
28,204 |
292,561 |
519,808 |
|
--------- |
--------- |
-------- |
--------- |
------------ |
At 31 January 2022 |
142,066 |
68,637 |
34,016 |
220,362 |
465,081 |
|
--------- |
--------- |
-------- |
--------- |
------------ |
|
|
|
|
|
|
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
Motor vehicles |
|
£ |
At 31 January 2023 |
108,082 |
|
--------- |
At 31 January 2022 |
77,639 |
|
--------- |
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
2,204,755 |
1,888,915 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
149,156 |
213,035 |
Other debtors |
142,069 |
383,432 |
|
------------ |
------------ |
|
2,495,980 |
2,485,382 |
|
------------ |
------------ |
|
|
|
The debtors above include the following amounts falling due after more than one year:
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
453,161 |
378,062 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
40,000 |
135,156 |
Trade creditors |
1,141,267 |
856,405 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
8,754 |
17,278 |
Social security and other taxes |
48,584 |
56,598 |
Other creditors |
314,785 |
337,452 |
|
------------ |
------------ |
|
1,553,390 |
1,402,889 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
106,667 |
170,667 |
Other creditors |
112,945 |
43,839 |
|
--------- |
--------- |
|
219,612 |
214,506 |
|
--------- |
--------- |
|
|
|
In 2021 the company obtained a Coronavirus Business Interruption Loan for £200,000 that is repayable over 6 years. The loan has an interest rate of Bank of England Base Rate + 3.99% with the first 12 months interest being paid by the UK Government and capital repayments not starting until month 13.
9.
Related party transactions
During the year the company was acquired by Afan Group Limited, a UK Company, and the directors have taken exemption under FRS102 s33.1A for not disclosing group transactions between wholly owned group companies.
A P Developments Limited, a UK company controlled by key management personnel,
was repaid the £100,000 loan it was owed by Afan Landscapes Limited at the start of the year.