REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2023 |
for |
Bell Plantation (Garden Centre) Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2023 |
for |
Bell Plantation (Garden Centre) Limited |
Bell Plantation (Garden Centre) Limited (Registered number: 05572879) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bell Plantation (Garden Centre) Limited |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Park House |
37 Clarence Street |
Leicester |
Leicestershire |
LE1 3RW |
Bell Plantation (Garden Centre) Limited (Registered number: 05572879) |
Balance Sheet |
30 September 2023 |
30.9.23 | 30.9.22 |
as | restated |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 853,807 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bell Plantation (Garden Centre) Limited (Registered number: 05572879) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Bell Plantation (Garden Centre) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Changes in accounting policies |
The company has changed its accounting policy to include depreciation on improvements to property at a rate of 10% on cost and 4% on cost. Previously no depreciation was charged on improvements to property and annual impairment reviews were undertaken. This change in policy has been made because it is the directors' opinion that the net book value more accurately reflects the value of the company's assets and is inline with the requirements of the Companies Act 2006 regarding the depreciation of fixed assets. The effect on the financial statements of the change in accounting policy is described in Note 4. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Up to the year ended 30 September 2022, the depreciation was provided at the following rates: |
Fixtures and fittings | - 18% on reducing balance |
Motor vehicles | - 18% on reducing balance |
Computer equipment | - 18% on reducing balance |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after makings due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Bell Plantation (Garden Centre) Limited (Registered number: 05572879) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
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 year 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. |
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 year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Bell Plantation (Garden Centre) Limited (Registered number: 05572879) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
as | restated |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Other debtors includes prepayments and accrued income of £23,936 (2022 - £19,078). |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
as | restated |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Other creditors includes accruals and deferred income of £59,319 (2022 - £54,037). |
Bell Plantation (Garden Centre) Limited (Registered number: 05572879) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
as | restated |
£ | £ |
Bank loans |
Hire purchase contracts |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.23 | 30.9.22 |
as | restated |
£ | £ |
Bank loans |
Hire purchase contract | 14,235 | 24,283 |
The bank loan is secured against the improvement to property and fixtures and fittings included in fixed assets. |
The hire purchase contracts are secured against the fixed assets they relate to. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
We were unable to observe the counting of physical stock held by the company at 30 September 2022 because we were not appointed as auditor of the company until September 2023. We were unable to satisfy ourselves by alternative means concerning the stock quantities of £870,108 held at 30 September 2022 by using other audit procedures. Consequently we were unable to determine whether any adjustment to these amounts in the balance sheet at 30 September 2022 was necessary or whether there was any consequential effect on cost of sales for the year ended 30 September 2023. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
Matters on which we are required to report by exception |
Arising solely from the limitation on the scope of our work relating to stock, referred to above: |
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and |
- we were unable to determine whether adequate accounting records have been kept. |
for and on behalf of Torr Waterfield Limited |