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Registration number: 05179239

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2023

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Company Information

Directors

Mr Adam Taylor Avery

Mr Stephen John Shaw

Mr David Crossland

Miss Katherine Jane Blake

Company secretary

Mr Stephen John Shaw

Registered office

Clifthouse Road
Southville
Bristol
BS3 1RX

Accountants

Baden-Lyle & Associates
39 Oolite Road
Bath
Somerset
BA2 2UU

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

(Registration number: 05179239)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

223,436

278,323

Current assets

 

Stocks

5

195,229

194,744

Debtors

6

15,046

12,649

Cash at bank and in hand

 

744,745

867,403

 

955,020

1,074,796

Prepayments and accrued income

 

25,978

29,189

Creditors: Amounts falling due within one year

7.1

(239,477)

(335,912)

Net current assets

 

741,521

768,073

Total assets less current liabilities

 

964,957

1,046,396

Creditors: Amounts falling due after more than one year

7.2

(15,570)

(31,617)

Provisions for liabilities

(16,033)

(17,677)

Accruals and deferred income

 

(15,285)

(14,795)

Net assets

 

918,069

982,307

Capital and reserves

 

Called up share capital

8

4

4

Other reserves

300,106

300,106

Retained earnings

617,959

682,197

Shareholders' funds

 

918,069

982,307

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

(Registration number: 05179239)
Abridged Balance Sheet as at 31 July 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 July 2024 and signed on its behalf by:
 

.........................................

Miss Katherine Jane Blake

Director

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Clifthouse Road
Southville
Bristol
BS3 1RX
England

These financial statements were authorised for issue by the Board on 27 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised as revenue at the date of entitlement.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% straight line basis

Land and buildings

Straight line basis over the remaining life of the lease

Fixtures and fittings

15% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2022 - 28).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

679,542

131,037

246,400

1,056,979

Additions

-

1,050

24,635

25,685

At 31 July 2023

679,542

132,087

271,035

1,082,664

Depreciation

At 1 August 2022

482,790

106,309

189,557

778,656

Charge for the year

51,404

6,014

23,154

80,572

At 31 July 2023

534,194

112,323

212,711

859,228

Carrying amount

At 31 July 2023

145,348

19,764

58,324

223,436

At 31 July 2022

196,752

24,728

56,843

278,323

Included within the net book value of land and buildings above is £145,347 (2022 - £196,751) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

195,229

194,744

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £18,229 (2022 - £18,229).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £15,570 (2022 - £31,617).

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Member shares of £1 each

4

4

4

4

       

9

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £5,000.00 per each Member shares

20,000

25,000

 

 

10

Related party transactions

 

Riverside Garden Centre (Bristol) Limited

trading as Riverside Garden Centre (Bristol) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

185,141

193,110

Contributions paid to money purchase schemes

5,554

5,794

190,695

198,904