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COMPANY REGISTRATION NUMBER: 01675884
SEYMOURS GARDENS LIMITED
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
SEYMOURS GARDENS LIMITED
Financial Statements
Year ended 30 June 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
SEYMOURS GARDENS LIMITED
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,100,244
2,100,488
Investments
6
100,001
100,001
------------
------------
2,200,245
2,200,489
Current assets
Debtors
7
82,439
99,163
Cash at bank and in hand
449,023
394,503
---------
---------
531,462
493,666
Creditors: amounts falling due within one year
8
( 81,989)
( 140,814)
---------
---------
Net current assets
449,473
352,852
------------
------------
Total assets less current liabilities
2,649,718
2,553,341
Provisions
Taxation including deferred tax
( 226,502)
( 217,566)
------------
------------
Net assets
2,423,216
2,335,775
------------
------------
Capital and reserves
Called up share capital
9
100,100
100,100
Other reserves
10
786,088
795,116
Profit and loss account
10
1,537,028
1,440,559
------------
------------
Shareholder's funds
2,423,216
2,335,775
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SEYMOURS GARDENS LIMITED
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
J R Seymour
Director
Company registration number: 01675884
SEYMOURS GARDENS LIMITED
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Maple Grove Business Centre, Lawrence Road, Hounslow, Middlesex, TW4 6DR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, other than investment properties measured at fair value through profit or loss. The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
Trade receivable
Trade receivables do not carry any interest and are stated at their original invoice value as reduced by appropriate allowances for estimated irrecoverable amounts.
Trade payable
Trade payables do not carry any interest and are stated at their original invoice value.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover comprises of Management fee receivable and derived from the provision of services falling within the company’s ordinary activities to other companies within the group after deduction of value added tax, and rent receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income. In this case, tax is recognised in other comprehensive income. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, Fittings & Equipment
-
25% straight line
Motor Vehicles
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes the purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Investment property
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022 and 30 June 2023
2,100,000
2,587
5,995
2,108,582
------------
-------
-------
------------
Depreciation
At 1 July 2022
2,099
5,995
8,094
Charge for the year
244
244
------------
-------
-------
------------
At 30 June 2023
2,343
5,995
8,338
------------
-------
-------
------------
Carrying amount
At 30 June 2023
2,100,000
244
2,100,244
------------
-------
-------
------------
At 30 June 2022
2,100,000
488
2,100,488
------------
-------
-------
------------
The fair value of the investment property has been valued by the directors at 30 June 2023. The valuation is based on the market value of the property.
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
100,001
---------
Impairment
At 1 July 2022 and 30 June 2023
---------
Carrying amount
At 30 June 2023
100,001
---------
At 30 June 2022
100,001
---------
7. Debtors
2023
2022
£
£
Trade debtors
8,992
Amounts owed by group undertakings and undertakings in which the company has a participating interest
59,549
71,121
Other debtors
13,898
28,042
--------
--------
82,439
99,163
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
67,139
Trade creditors
1,871
2,299
Social security and other taxes
31,754
30,938
Other creditors
48,364
40,438
--------
---------
81,989
140,814
--------
---------
The bank loan of £Nil (2022: £67,139) is secured by a charge on the property owned by the company.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
25,025
25,025
25,025
25,025
Preferred shares of £ 1 each
75,075
75,075
75,075
75,075
---------
---------
---------
---------
100,100
100,100
100,100
100,100
---------
---------
---------
---------
10. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves - This reserve records fair value gains on investment properties net of deferred tax.