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REGISTERED NUMBER: 02994810 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED

THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED (REGISTERED NUMBER: 02994810)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 January 2023







DIRECTORS: Mr J Weston
Mr W Weston





REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX





REGISTERED NUMBER: 02994810 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
Chartered Accountants
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED (REGISTERED NUMBER: 02994810)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,501 50,912

CURRENT ASSETS
Stocks 5 1,958 1,442
Debtors 6 11,917 7,429
Cash at bank 79,638 100
93,513 8,971
CREDITORS
Amounts falling due within one year 7 105,174 112,349
NET CURRENT LIABILITIES (11,661 ) (103,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,840

(52,466

)

CREDITORS
Amounts falling due after more than one year 8 (17,033 ) (30,678 )

PROVISIONS FOR LIABILITIES (7,315 ) (12,732 )
NET ASSETS/(LIABILITIES) 2,492 (95,876 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,392 (95,976 )
SHAREHOLDERS' FUNDS 2,492 (95,876 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Mr J Weston - Director


THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED (REGISTERED NUMBER: 02994810)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023

1. STATUTORY INFORMATION

The Garden & Plant Company Cirencester Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED (REGISTERED NUMBER: 02994810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 44,781 56,434 888 102,103
Additions - - 474 474
At 31 January 2023 44,781 56,434 1,362 102,577
DEPRECIATION
At 1 February 2022 22,081 28,222 888 51,191
Charge for year 5,675 7,053 157 12,885
At 31 January 2023 27,756 35,275 1,045 64,076
NET BOOK VALUE
At 31 January 2023 17,025 21,159 317 38,501
At 31 January 2022 22,700 28,212 - 50,912

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022
and 31 January 2023 40,250
DEPRECIATION
At 1 February 2022 16,552
Charge for year 5,924
At 31 January 2023 22,476
NET BOOK VALUE
At 31 January 2023 17,774
At 31 January 2022 23,698

5. STOCKS
2023 2022
£    £   
Stocks 1,958 1,442

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,439 6,965
Prepayments 478 464
11,917 7,429

THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED (REGISTERED NUMBER: 02994810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 7,080 7,405
Hire purchase contracts (see note 10) 6,553 6,553
Trade creditors 6,728 1,687
Tax - 11,764
Social security and other taxes 1,053 775
VAT 22,630 3,737
Other creditors 44 1,105
Directors' loan accounts 60,085 78,413
Accrued expenses 1,001 910
105,174 112,349

The bank overdraft and loan is personally secured by Mr J Weston, a director.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 8,870 15,950
Hire purchase contracts (see note 10) 8,163 14,728
17,033 30,678

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 805
Bank loans 7,080 6,600
7,080 7,405

Amounts falling due between two and five years:
Bank loans - 2-5 years 8,870 15,950

The bank overdraft and loan is secured by a guarantee by both directors.


10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 6,553 6,553
Between one and five years 8,163 14,728
14,716 21,281

THE GARDEN & PLANT COMPANY
CIRENCESTER LIMITED (REGISTERED NUMBER: 02994810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 January 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
Mr J Weston
Balance outstanding at start of year (58,862 ) (68,584 )
Amounts advanced 20,698 10,014
Amounts repaid (8,045 ) (292 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (46,209 ) (58,862 )

Mr W Weston
Balance outstanding at start of year (19,551 ) (4,015 )
Amounts advanced 8,694 9,366
Amounts repaid (3,020 ) (24,902 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,877 ) (19,551 )

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors, who between them own 100% of the shares.