Garden House Furniture Ltd 12268549 false 2022-11-01 2023-11-30 2023-11-30 The principal activity of the company is the sale of garden furniture. Digita Accounts Production Advanced 6.30.9574.0 true 12268549 2022-11-01 2023-11-30 12268549 2023-11-30 12268549 core:CurrentFinancialInstruments 2023-11-30 12268549 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 12268549 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-30 12268549 bus:SmallEntities 2022-11-01 2023-11-30 12268549 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-11-30 12268549 bus:FullAccounts 2022-11-01 2023-11-30 12268549 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-11-30 12268549 bus:RegisteredOffice 2022-11-01 2023-11-30 12268549 bus:Director1 2022-11-01 2023-11-30 12268549 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-11-30 12268549 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-11-30 12268549 core:IntangibleAssetsOtherThanGoodwill 2022-11-01 2023-11-30 12268549 countries:EnglandWales 2022-11-01 2023-11-30 12268549 2022-10-31 12268549 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 12268549 2021-11-01 2022-10-31 12268549 2022-10-31 12268549 core:CurrentFinancialInstruments 2022-10-31 12268549 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12268549 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 12268549

Garden House Furniture Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 November 2022 to 30 November 2023

 

Garden House Furniture Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Garden House Furniture Ltd

(Registration number: 12268549)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

2,172

Current assets

 

Stocks

5

-

15,500

Debtors

6

4,425

2,651

Cash at bank and in hand

 

7,889

12,148

 

12,314

30,299

Creditors: Amounts falling due within one year

7

(12,179)

(30,484)

Net current assets/(liabilities)

 

135

(185)

Net assets

 

135

1,987

Capital and reserves

 

Called up share capital

100

100

Retained earnings

35

1,887

Shareholders' funds

 

135

1,987

 

Garden House Furniture Ltd

(Registration number: 12268549)
Balance Sheet as at 30 November 2023

For the financial period ending 30 November 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 period 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 21 February 2024 and signed on its behalf by:
 

.........................................
S Ingham
Director

 

Garden House Furniture Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 November 2023

1

General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 garden furniture in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

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.

Intangible assets

An intangible asset is an identifiable non-monetary asset without physical substance. It is identifiable when it is separable, i.e. is capable of being separated or divided from the Company, or when it arises from contractual or other legal rights.

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives.

 

Garden House Furniture Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 November 2023

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

Website development costs

20% straight line basis

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.

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

Garden House Furniture Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 November 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 November 2022

5,430

5,430

At 30 November 2023

5,430

5,430

Amortisation

At 1 November 2022

3,258

3,258

Amortisation charge

1,177

1,177

Impairment

995

995

At 30 November 2023

5,430

5,430

Carrying amount

At 30 November 2023

-

-

At 31 October 2022

2,172

2,172

5

Stocks

2023
£

2022
£

Showroom stock

-

15,500

6

Debtors

Current

2023
£

2022
£

Other debtors

4,425

2,651

 

Garden House Furniture Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

490

Taxation and social security

1,356

1,174

Other creditors

10,823

28,820

12,179

30,484

8

Related party transactions

Other transactions with directors

During the year, a director had a loan with the company. At the balance sheet date the amount due to the director was £9,144 (2022: £27,192).