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REGISTERED NUMBER: 07872079 (England and Wales)


















REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2022 TO 30 DECEMBER 2022

FOR

ARTIFICIAL GRASS DIRECT LTD.

ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 4 to 7


ARTIFICIAL GRASS DIRECT LTD.

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022







DIRECTOR: Mr J N G Penninck





REGISTERED OFFICE: 16 Hallsteads
Dove Holes
Buxton
Derbyshire
SK17 8BJ





REGISTERED NUMBER: 07872079 (England and Wales)





AUDITORS: Allens Accountants Limited
Registered Auditors and
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)

REPORT OF THE DIRECTOR
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022

The director presents his report with the financial statements of the company for the period 1 January 2022 to 30 December 2022.

COMPARATIVE PERIOD
The comparative period is from 1 April 2021 to 31 December 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of the supply of artificial turf products.

DIRECTORS
Mr J N G Penninck has held office during the whole of the period from 1 January 2022 to the date of this report.

Other changes in directors holding office are as follows:

Mr C J Suter - resigned 1 December 2022

Mr M S Tittershill ceased to be a director after 30 December 2022 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr J N G Penninck - Director


5 March 2024

ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)

BALANCE SHEET
30 DECEMBER 2022

30/12/22 31/12/21
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,294 6,469
Tangible assets 5 9,353 11,122
10,647 17,591

CURRENT ASSETS
Debtors 6 191,556 170,436
Cash at bank and in hand 59,966 187,865
251,522 358,301
CREDITORS
Amounts falling due within one year 7 107,682 557,500
NET CURRENT ASSETS/(LIABILITIES) 143,840 (199,199 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,487

(181,608

)

CREDITORS
Amounts falling due after more than one
year

8

410,746

85,417
NET LIABILITIES (256,259 ) (267,025 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Capital contribution and distribution reserve 314,000 -
Retained earnings (570,359 ) (267,125 )
SHAREHOLDERS' FUNDS (256,259 ) (267,025 )

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 5 March 2024 and were signed by:





Mr J N G Penninck - Director


ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022

1. STATUTORY INFORMATION

Artificial Grass Direct Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern
The directors have a reasonable expectation that the company has adequate resource to continue in operational existence for the foreseeable future and will continue to have support of the group. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to continue to trade. The director's have prepared cashflow forecasts for a period of at least 12 months from the date of approving the financial statements, which include the capital expenditure cashflows required for future expansion of the Company. The directors have obtained confirmation from Sports & Leisure Group NV, the ultimate controlling party, that they will continue to provide financial support to the Company. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the goods are physically delivered to the customer. Turnover is wholly attributable to the principle activity of the Company and has arisen within the United Kingdom and Europe. All turnover relates to the sale of goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 25% on cost and 15% on reducing balance

Taxation
Taxation for the period 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 balance sheet date.


ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

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 period was 22 (2021 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022
and 30 December 2022 10,350
AMORTISATION
At 1 January 2022 3,881
Charge for period 5,175
At 30 December 2022 9,056
NET BOOK VALUE
At 30 December 2022 1,294
At 31 December 2021 6,469

ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 33,723
Additions 1,318
Disposals (1,700 )
At 30 December 2022 33,341
DEPRECIATION
At 1 January 2022 22,601
Charge for period 2,917
Eliminated on disposal (1,530 )
At 30 December 2022 23,988
NET BOOK VALUE
At 30 December 2022 9,353
At 31 December 2021 11,122

6. DEBTORS
30/12/22 31/12/21
(Unaudited)
£    £   
Amounts falling due within one year:
Trade debtors 156,167 127,912
Amounts owed by group undertakings - 37,342
Other debtors 3,964 5,182
160,131 170,436

Amounts falling due after more than one year:
Amounts owed by group undertakings 31,425 -

Aggregate amounts 191,556 170,436

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/12/22 31/12/21
(Unaudited)
£    £   
Bank loans and overdrafts 25,000 25,000
Trade creditors 8,612 10,159
Amounts owed to group undertakings - 389,712
Taxation and social security 64,368 71,308
Other creditors 9,702 61,321
107,682 557,500

ARTIFICIAL GRASS DIRECT LTD. (REGISTERED NUMBER: 07872079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/12/22 31/12/21
(Unaudited)
£    £   
Bank loans 60,417 85,417
Amounts owed to group undertakings 350,329 -
410,746 85,417

9. SECURED DEBTS

The following secured debts are included within creditors:

30/12/22 31/12/21
(Unaudited)
£    £   
Bank loans 85,417 110,417

Santander UK Plc have fixed and floating charge over the undertaking and all property and assets present and future dated 22nd February 2019.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/12/22 31/12/21
value: £    £   
75 'A' Ordinary £1 75 75
25 'B' Ordinary £1 25 25
100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Benjamin Furness (Senior Statutory Auditor)
for and on behalf of Allens Accountants Limited

12. ULTIMATE CONTROLLING PARTY

The immediate parent of the Company is Nomow International Limited. The ultimate parent company is Sports & Leisure Group NV, a company registered in Belgium.