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COMPANY REGISTRATION NUMBER: 06572003
Allscapes Gardens Limited
Filleted Unaudited Financial Statements
31 March 2023
Allscapes Gardens Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
41,593
63,746
Current assets
Debtors
6
7,264
46,340
Cash at bank and in hand
81,524
102,664
--------
---------
88,788
149,004
Creditors: amounts falling due within one year
7
78,640
133,689
--------
---------
Net current assets
10,148
15,315
--------
--------
Total assets less current liabilities
51,741
79,061
Creditors: amounts falling due after more than one year
8
3,462
9,495
Provisions
Taxation including deferred tax
7,903
--------
--------
Net assets
40,376
69,566
--------
--------
Capital and reserves
Called up share capital
110
110
Profit and loss account
40,266
69,456
--------
--------
Shareholders funds
40,376
69,566
--------
--------
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 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Allscapes Gardens Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 5 September 2023 , and are signed on behalf of the board by:
Mr M McLoughlin
Director
Company registration number: 06572003
Allscapes Gardens Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
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 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.
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:
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Office Equipment
-
25% reducing balance
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2022
107,776
93,669
2,893
204,338
Additions
4,250
4,250
Disposals
( 41,877)
( 4,000)
( 45,877)
---------
--------
-------
---------
At 31 March 2023
70,149
89,669
2,893
162,711
---------
--------
-------
---------
Depreciation
At 1 April 2022
71,395
67,931
1,266
140,592
Charge for the year
7,397
6,118
407
13,922
Disposals
( 30,978)
( 2,418)
( 33,396)
---------
--------
-------
---------
At 31 March 2023
47,814
71,631
1,673
121,118
---------
--------
-------
---------
Carrying amount
At 31 March 2023
22,335
18,038
1,220
41,593
---------
--------
-------
---------
At 31 March 2022
36,381
25,738
1,627
63,746
---------
--------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
6,965
46,040
Other debtors
299
300
-------
--------
7,264
46,340
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
22,213
22,308
Corporation tax
18,670
27,981
Social security and other taxes
21,154
32,500
Other creditors
16,603
50,900
--------
---------
78,640
133,689
--------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,462
9,495
-------
-------