Registration number:
Report of the Director and
for the
Year Ended 31 January 2023
for
Acorn Garden Centre And Builders Merchants Ltd
Acorn Garden Centre And Builders Merchants Ltd
Contents of the Financial Statements
for the Year Ended 31 January 2023
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Acorn Garden Centre And Builders Merchants Ltd
Company Information
for the Year Ended 31 January 2023
Director: |
Mr MI Skehill |
Registered office: |
|
Registered number: |
09950768 |
Accountants: |
|
Acorn Garden Centre And Builders Merchants Ltd
(Registration number: 09950768)
Balance Sheet as at 31 January 2023
Note |
31.01.23 |
31.01.22 |
|||
£ |
£ |
£ |
£ |
||
FIXED ASSETS |
|||||
Tangible assets |
- |
|
|||
CURRENT ASSETS |
|||||
Stocks |
- |
|
|||
Debtors |
- |
|
|||
Cash at bank and in hand |
|
|
|||
|
|
||||
CREDITORS |
|||||
Creditors within 1yr |
61,893 |
45,405 |
|||
Net current liabilities |
( |
( |
|||
Total assets less current liabilities |
( |
( |
|||
Creditors
|
|
|
|||
PROVISIONS FOR LIABILITIES |
- |
|
|||
Net liabilities |
( |
( |
|||
CAPITAL AND RESERVES |
|||||
Called up share capital |
1 |
1 |
|||
Profit and loss account |
(67,011) |
(51,128) |
|||
Shareholders' deficit |
(67,010) |
(51,127) |
For the financial 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.
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.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Acorn Garden Centre And Builders Merchants Ltd
(Registration number: 09950768)
Balance Sheet as at 31 January 2023 (continued)
Approved and authorised by the
......................................... |
Acorn Garden Centre And Builders Merchants Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023
1. |
General information |
The company is a private company limited by share capital, incorporated in England & Wales .
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
The presentational currency is Pound Sterling (£).
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 goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and 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 company's activities.
Tax
The tax expense for the period comprises deferred 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.
Acorn Garden Centre And Builders Merchants Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)
2 |
Accounting policies (continued) |
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 balance sheet 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.
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 |
Plant and machinery |
25% straight line basis |
Furniture and fittings |
25% straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
3. |
Staff numbers |
The average number of persons employed by the company during the year, was
Acorn Garden Centre And Builders Merchants Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)
4. |
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Total |
|
Cost or valuation |
|||
At 1 February 2022 |
|
|
|
Disposals |
( |
( |
( |
At 31 January 2023 |
- |
- |
- |
Depreciation |
|||
At 1 February 2022 |
|
|
|
Eliminated on disposal |
( |
( |
( |
At 31 January 2023 |
- |
- |
- |
Carrying amount |
|||
At 31 January 2023 |
- |
- |
- |
At 31 January 2022 |
|
|
|
5. |
Debtors |
Current |
31.01.23 |
31.01.22 |
Other debtors |
- |
|
Acorn Garden Centre And Builders Merchants Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)
6. |
Creditors |
Creditors: amounts falling due within one year
Note |
31.01.23 |
31.01.22 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
31.01.23 |
31.01.22 |
|
Due after one year |
|||
Loans and borrowings |
|
|