REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2022 TO 30 DECEMBER 2022 |
FOR |
ARTIFICIAL GRASS LONDON LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2022 TO 30 DECEMBER 2022 |
FOR |
ARTIFICIAL GRASS LONDON LIMITED |
ARTIFICIAL GRASS LONDON LIMITED (REGISTERED NUMBER: 09812241) |
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 LONDON LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Registered Auditors and |
Chartered Accountants |
123 Wellington Road South |
Stockport |
Cheshire |
SK1 3TH |
ARTIFICIAL GRASS LONDON LIMITED (REGISTERED NUMBER: 09812241) |
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 |
Other changes in directors holding office are as follows: |
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: |
ARTIFICIAL GRASS LONDON LIMITED (REGISTERED NUMBER: 09812241) |
BALANCE SHEET |
30 DECEMBER 2022 |
30/12/22 | 31/12/21 |
(Unaudited) |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Capital contribution and distribution reserve | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
ARTIFICIAL GRASS LONDON LIMITED (REGISTERED NUMBER: 09812241) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Artificial Grass London Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Tangible fixed assets |
Plant and machinery etc | - |
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 LONDON LIMITED (REGISTERED NUMBER: 09812241) |
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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2022 |
and 30 December 2022 |
AMORTISATION |
At 1 January 2022 |
Charge for period |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 31 December 2021 |
ARTIFICIAL GRASS LONDON LIMITED (REGISTERED NUMBER: 09812241) |
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 |
and 30 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 31 December 2021 |
6. | DEBTORS |
30/12/22 | 31/12/21 |
(Unaudited) |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/12/22 | 31/12/21 |
(Unaudited) |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
ARTIFICIAL GRASS LONDON LIMITED (REGISTERED NUMBER: 09812241) |
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 |
Amounts owed to group undertakings |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/12/22 | 31/12/21 |
(Unaudited) |
£ | £ |
Bank loans |
Santander UK Plc have a 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: | £ | £ |
Ordinary A | £1 | 75 | 75 |
Ordinary B | £1 | 25 | 25 |
100 | 100 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |