MARKHAM GRANGE GARDEN CENTRE LTD

Company Registration Number:
13467466 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 July 2022

End date: 31 December 2022

MARKHAM GRANGE GARDEN CENTRE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

MARKHAM GRANGE GARDEN CENTRE LTD

Balance sheet

As at 31 December 2022


Notes

31 December 2022

30 June 2022


£

£
Fixed assets
Intangible assets: 3 3,833 3,833
Tangible assets: 4 1,519,507 1,531,921
Total fixed assets: 1,523,340 1,535,754
Current assets
Stocks: 524,641 579,641
Debtors:   35,394 34,739
Cash at bank and in hand: 57,039 62,503
Total current assets: 617,074 676,883
Creditors: amounts falling due within one year:   (660,720) (722,337)
Net current assets (liabilities): (43,646) (45,454)
Total assets less current liabilities: 1,479,694 1,490,300
Creditors: amounts falling due after more than one year:   (131,643) (145,265)
Provision for liabilities: (70,894) (73,099)
Total net assets (liabilities): 1,277,157 1,271,936
Capital and reserves
Called up share capital: 1,000 1,000
Share premium account: 1,168,981 1,168,981
Profit and loss account: 107,176 101,955
Shareholders funds: 1,277,157 1,271,936

The notes form part of these financial statements

MARKHAM GRANGE GARDEN CENTRE LTD

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 November 2023
and signed on behalf of the board by:

Name: Mr VT Nuttall
Status: Director

The notes form part of these financial statements

MARKHAM GRANGE GARDEN CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is possible that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Greenhouse 7.5% reducing balance Kees Greeve Greenhouse 10% reducing balancePlant, machinery, fixtures & fittings 10% reducing balance.Motor vehicles 25% reducing balance.The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the profit or loss.

Intangible fixed assets and amortisation policy

Are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Valuation and information policy

Stock.Stock is valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Other accounting policies

Taxation.The tax expense represents the sum of the tax currently payable and deferred tax.Current tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Deferred Taxation.Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of other assets and liabilities in the transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

MARKHAM GRANGE GARDEN CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

31 December 2022 30 June 2022
Average number of employees during the period 33 35

MARKHAM GRANGE GARDEN CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Intangible Assets

Total
Cost £
At 01 July 2022 3,833
At 31 December 2022 3,833
Net book value
At 31 December 2022 3,833
At 30 June 2022 3,833

MARKHAM GRANGE GARDEN CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Tangible Assets

Total
Cost £
At 01 July 2022 1,543,735
Additions 10,575
At 31 December 2022 1,554,310
Depreciation
At 01 July 2022 11,814
Charge for year 22,989
At 31 December 2022 34,803
Net book value
At 31 December 2022 1,519,507
At 30 June 2022 1,531,921