Turfgrass Growers Association Limited 02991118 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is to promote the sale of cultivated turf Digita Accounts Production Advanced 6.30.9574.0 true 02991118 2022-11-01 2023-10-31 02991118 2023-10-31 02991118 core:RetainedEarningsAccumulatedLosses 2023-10-31 02991118 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-10-31 02991118 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 02991118 core:OtherResidualIntangibleAssets 2023-10-31 02991118 bus:SmallEntities 2022-11-01 2023-10-31 02991118 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 02991118 bus:FullAccounts 2022-11-01 2023-10-31 02991118 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02991118 bus:RegisteredOffice 2022-11-01 2023-10-31 02991118 bus:CompanySecretary1 2022-11-01 2023-10-31 02991118 bus:Director13 2022-11-01 2023-10-31 02991118 bus:Director15 2022-11-01 2023-10-31 02991118 bus:Director22 2022-11-01 2023-10-31 02991118 bus:Director24 2022-11-01 2023-10-31 02991118 bus:Director26 2022-11-01 2023-10-31 02991118 bus:Director27 2022-11-01 2023-10-31 02991118 bus:Director28 2022-11-01 2023-10-31 02991118 bus:Director29 2022-11-01 2023-10-31 02991118 bus:Director30 2022-11-01 2023-10-31 02991118 bus:Director8 2022-11-01 2023-10-31 02991118 bus:CompanyLimitedByGuarantee 2022-11-01 2023-10-31 02991118 core:ComputerSoftware 2022-11-01 2023-10-31 02991118 core:OtherResidualIntangibleAssets 2022-11-01 2023-10-31 02991118 countries:EnglandWales 2022-11-01 2023-10-31 02991118 2022-10-31 02991118 core:OtherResidualIntangibleAssets 2022-10-31 02991118 2021-11-01 2022-10-31 02991118 2022-10-31 02991118 core:RetainedEarningsAccumulatedLosses 2022-10-31 02991118 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 02991118 core:OtherResidualIntangibleAssets 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 02991118

Turfgrass Growers Association Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Turfgrass Growers Association Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Turfgrass Growers Association Limited

Company Information

Directors

S Edwards

I Pogson

W Baird

R Adcock

A Allan

G Stothard

R Owens (Chairman)

D B Greenshields

C R Spooner

O A Wright

Company secretary

C Clark

Registered office

BGA House
Nottingham Road
Louth
Lincolnshire
LN11 0WB

 

Turfgrass Growers Association Limited

(Registration number: 02991118)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

1,166

Other financial assets

5

1

1

 

1

1,167

Current assets

 

Debtors

6

3,785

3,081

Cash at bank and in hand

 

48,123

43,688

 

51,908

46,769

Creditors: Amounts falling due within one year

7

(10,150)

(6,475)

Net current assets

 

41,758

40,294

Net assets

 

41,759

41,461

Capital and reserves

 

Profit and loss account

41,759

41,461

Members' funds

 

41,759

41,461

For the financial year ending 31 October 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 13 March 2024 and signed on its behalf by:
 

.........................................
R Owens (Chairman)
Director

 

Turfgrass Growers Association Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

The Company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.

These financial statements cover the individual entity, Turfgrass Growers Association Limited

The address of its registered office is:
BGA House
Nottingham Road
Louth
Lincolnshire
LN11 0WB

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 were prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 company trades as a mutual society and accordingly no corporation tax is chargeable on its excess of income over expenditure arising from its activities with members. Corporation tax chargeable on other income of the society at rates current during the period of the accounts.

The tax expense for the period comprises current 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.

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

3 years straight line

 

Turfgrass Growers Association Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

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.

Trade debtors

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

Trade debtors are recognised at the transaction price, 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.

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 at the transaction price.

3

Staff numbers

The average number of persons employed by the Company during the year, was 0 (2022 - 0).

4

Intangible assets

Website
 £

Total
£

Cost or valuation

At 1 November 2022

3,500

3,500

At 31 October 2023

3,500

3,500

Amortisation

At 1 November 2022

2,334

2,334

Amortisation charge

1,166

1,166

At 31 October 2023

3,500

3,500

Carrying amount

At 31 October 2023

-

-

At 31 October 2022

1,166

1,166

 

Turfgrass Growers Association Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

5

Investments

Other investments
£

Total
£

Other investments

Cost or valuation

At 1 November 2022

1

1

At 31 October 2023

1

1

Carrying amount

At 31 October 2023

1

1

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,896

802

Prepayments

170

322

Other debtors

1,719

1,957

 

3,785

3,081

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,932

5,162

Taxation and social security

18

463

Accruals

1,200

850

10,150

6,475