Registered number
10881714
Acre Lawn Turf Ltd
Filleted Accounts
31 July 2023
Acre Lawn Turf Ltd
Registered number: 10881714
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,713 34,901
Current assets
Stocks 445 -
Debtors 4 21,618 13,896
Cash at bank and in hand 36,373 27,637
58,436 41,533
Creditors: amounts falling due within one year 5 (67,270) (59,827)
Net current liabilities (8,834) (18,294)
Total assets less current liabilities 16,879 16,607
Creditors: amounts falling due after more than one year 6 (8,000) (12,000)
Provisions for liabilities (4,885) (6,631)
Net assets/(liabilities) 3,994 (2,024)
Capital and reserves
Called up share capital 20 20
Profit and loss account 3,974 (2,044)
Shareholders' funds 3,994 (2,024)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Stevenson
Director
Approved by the board on 28 March 2024
Acre Lawn Turf Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Plant and machinery over 5 years
Office Equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 4,939 6,842 54,685 66,466
Additions 104 310 - 414
At 31 July 2023 5,043 7,152 54,685 66,880
Depreciation
At 1 August 2022 4,489 5,583 21,493 31,565
Charge for the year 208 397 8,997 9,602
At 31 July 2023 4,697 5,980 30,490 41,167
Net book value
At 31 July 2023 346 1,172 24,195 25,713
At 31 July 2022 450 1,259 33,192 34,901
4 Debtors 2023 2022
£ £
Trade debtors 17,587 10,710
Other debtors 4,031 3,186
21,618 13,896
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,000 4,000
Trade creditors 19,096 15,491
Taxation and social security costs 9,514 2,436
Other creditors 34,660 37,900
67,270 59,827
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,000 12,000
7 Related party transactions
Included within other creditors is a balance owed to the directors of £34,086 (2022 - £37,899). This amount is undated, unsecured, interest free and repayable on demand.
8 Other information
Acre Lawn Turf Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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