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REGISTERED NUMBER: SC585293 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MERRYHATTON GARDEN CENTRE LTD

MERRYHATTON GARDEN CENTRE LTD (REGISTERED NUMBER: SC585293)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MERRYHATTON GARDEN CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: H MacDonald





REGISTERED OFFICE: East Fortune
North Berwick
EH39 5JS





REGISTERED NUMBER: SC585293 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

MERRYHATTON GARDEN CENTRE LTD (REGISTERED NUMBER: SC585293)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,443 77,603

CURRENT ASSETS
Stocks 479,457 406,144
Debtors 5 20,892 32,094
Cash at bank and in hand 75,689 186,517
576,038 624,755
CREDITORS
Amounts falling due within one year 6 351,282 365,306
NET CURRENT ASSETS 224,756 259,449
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,199

337,052

CREDITORS
Amounts falling due after more than one year 7 (27,026 ) (31,558 )

PROVISIONS FOR LIABILITIES (11,096 ) (14,973 )
NET ASSETS 238,077 290,521

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 238,076 290,520
238,077 290,521

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

MERRYHATTON GARDEN CENTRE LTD (REGISTERED NUMBER: SC585293)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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 director and authorised for issue on 17 November 2023 and were signed by:





H MacDonald - Director


MERRYHATTON GARDEN CENTRE LTD (REGISTERED NUMBER: SC585293)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Merryhatton Garden Centre Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Sale of goods
Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products, and collectability of the related receivables is fairly assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & equipment - 20% on cost
Fixtures & office equipment - 20% on cost
Motor vehicles - 25% on reducing balance

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

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities
Trade and other creditors are initially measured at the transaction price, including any transaction costs.

Directors loans are initially measured at the transaction price and are subsequently measured at the undiscounted amount of the cash expected to be paid.


MERRYHATTON GARDEN CENTRE LTD (REGISTERED NUMBER: SC585293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 29 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & & office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2022 77,474 46,130 47,310 170,914
Additions 6,823 5,938 - 12,761
Disposals (9,175 ) - - (9,175 )
At 28 February 2023 75,122 52,068 47,310 174,500
DEPRECIATION
At 1 March 2022 45,385 32,981 14,945 93,311
Charge for year 14,342 9,761 8,090 32,193
Eliminated on disposal (2,447 ) - - (2,447 )
At 28 February 2023 57,280 42,742 23,035 123,057
NET BOOK VALUE
At 28 February 2023 17,842 9,326 24,275 51,443
At 28 February 2022 32,089 13,149 32,365 77,603

MERRYHATTON GARDEN CENTRE LTD (REGISTERED NUMBER: SC585293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 115 505
Other debtors 20,777 31,589
20,892 32,094

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 4,532 4,532
Trade creditors 219,816 259,750
Taxation and social security 62,366 48,414
Other creditors 64,568 52,610
351,282 365,306

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 27,026 31,558

8. OTHER FINANCIAL COMMITMENTS

The company has provided a floating charge and negative pledge to the company's bankers with respect to a loan in the name of H MacDonald, Director and Shareholder, that is also secured against the property that the company trades from. The maximum liability that may be incurred by the company is potentially the full value of the loan which amounts to £307,000 as at 28 February 2023. There have been no amounts paid or any liability incurred by the company for the purpose of fulfilling the guarantee.

As at 28 February 2023 the company has future total operating lease commitments of £397,917.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
H MacDonald
Balance outstanding at start of year 21,080 1,478
Amounts advanced 51,130 49,779
Amounts repaid (61,750 ) (30,177 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,460 21,080