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Registration number: 08011876

Gregorys Fencing and Landscaping Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Gregorys Fencing and Landscaping Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Gregorys Fencing and Landscaping Limited

Company Information

Directors

Mr Gregory Owen Walker

Mrs Victoria Louise Walker

Registered office

Unit D Green Barn
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG

Accountants

Hatherleigh Limited
Chartered Accountants & Business Advisers
Unit D Green Barn
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG

 

Gregorys Fencing and Landscaping Limited

(Registration number: 08011876)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

260,790

268,110

Current assets

 

Stocks

6

9,700

16,750

Debtors

7

174,211

164,332

Cash at bank and in hand

 

77,355

123,441

 

261,266

304,523

Creditors: Amounts falling due within one year

8

(261,370)

(271,861)

Net current (liabilities)/assets

 

(104)

32,662

Total assets less current liabilities

 

260,686

300,772

Creditors: Amounts falling due after more than one year

8

(152,747)

(212,393)

Provisions for liabilities

(49,550)

(50,940)

Net assets

 

58,389

37,439

Capital and reserves

 

Called up share capital

9

105

105

Retained earnings

58,284

37,334

Shareholders' funds

 

58,389

37,439

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2023 and signed on its behalf by:
 

 

Gregorys Fencing and Landscaping Limited

(Registration number: 08011876)
Balance Sheet as at 31 March 2023

.........................................
Mr Gregory Owen Walker
Director

.........................................
Mrs Victoria Louise Walker
Director

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit D Green Barn
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG

These financial statements were authorised for issue by the Board on 16 August 2023.

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.

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 current and 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.

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

15% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 12).

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

60,000

60,000

At 31 March 2023

60,000

60,000

Amortisation

At 1 April 2022

60,000

60,000

At 31 March 2023

60,000

60,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

356,661

257,432

614,093

Additions

27,625

62,455

90,080

Disposals

-

(42,525)

(42,525)

At 31 March 2023

384,286

277,362

661,648

Depreciation

At 1 April 2022

175,321

170,662

345,983

Charge for the year

31,627

27,817

59,444

Eliminated on disposal

-

(4,569)

(4,569)

At 31 March 2023

206,948

193,910

400,858

Carrying amount

At 31 March 2023

177,338

83,452

260,790

At 31 March 2022

181,340

86,770

268,110

6

Stocks

2023
£

2022
£

Other inventories

9,700

16,750

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

72,119

148,232

Prepayments

3,600

3,600

Other debtors

98,492

12,500

 

174,211

164,332

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

64,526

56,214

Trade creditors

 

35,955

57,765

Taxation and social security

 

16,470

17,913

Accruals and deferred income

 

1,600

1,600

Other creditors

 

142,819

138,369

 

261,370

271,861

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

152,747

212,393

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Class A shares of £1 each

100

100

100

100

Class B share of £1 each

1

1

1

1

Class C share of £1 each

1

1

1

1

Class D share of £1 each

1

1

1

1

Class E share of £1 each

1

1

1

1

 

104

104

104

104

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Finance lease liabilities

91,543

132,005

Other borrowings

61,204

80,388

152,747

212,393

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Finance lease liabilities

64,526

56,214

11

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £10,000.00 (2022 - £1,800.00) per each Class B share

 

10,000

 

1,800

Interim dividend of £10,000.00 (2022 - £2,700.00) per each Class C share

 

10,000

 

2,700

Interim dividend of £Nil per each Class D share

 

-

 

-

Interim dividend of £Nil per each Class E share

 

-

 

-

   

20,000

 

4,500

12

Related party transactions

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr Gregory Owen Walker

The director maintains an interest free loan account with the company which is repayable on demand

54,685

(15,733)

15,558

54,510

         
       

Mrs Victoria Louise Walker

The director maintains an interest free loan account with the company which is repayable on demand

54,684

(15,733)

15,558

54,509

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr Gregory Owen Walker

The director maintains an interest free loan account with the company which is repayable on demand

56,167

(17,558)

16,076

54,685

         
       

Mrs Victoria Louise Walker

The director maintains an interest free loan account with the company which is repayable on demand

56,166

(17,558)

16,076

54,684

         
       

 

 

Gregorys Fencing and Landscaping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

26,478

25,152