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COMPANY REGISTRATION NUMBER: 03915373
Waresley Park Garden Centre Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Waresley Park Garden Centre Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
521,900
616,308
Investments
6
1,000
1,000
---------
---------
522,900
617,308
Current assets
Stocks
462,595
450,353
Debtors
7
43,307
48,635
Cash at bank and in hand
890,110
594,013
------------
------------
1,396,012
1,093,001
Creditors: amounts falling due within one year
8
476,192
430,678
------------
------------
Net current assets
919,820
662,323
------------
------------
Total assets less current liabilities
1,442,720
1,279,631
Provisions
Deferred taxation
27,590
37,426
------------
------------
Net assets
1,415,130
1,242,205
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,415,030
1,242,105
------------
------------
Shareholders funds
1,415,130
1,242,205
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 December 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 .
Waresley Park Garden Centre Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
R J Baker
Director
Company registration number: 03915373
Waresley Park Garden Centre Limited
Notes to the Financial Statements
Year ended 31 December 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 Waresley Park Garden Centre, Waresley, Sandy, Bedfordshire, SG19 3DB.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
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 or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings
-
3%, 5% or 33% straight line
Plant and machinery
-
15% reducing balance or 20% straight line
Fixtures and fittings
-
10%, 20% reducing balance or 20% straight line
Motor vehicles
-
25% reducing balance
Office equipment
-
20% or 33% straight line
Land is not depreciated.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Goods for resale are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is purchase price plus delivery charges.
Pension costs
The company makes pension contributions for the benefit of the directors and employees. The pension cost represents contributions payable in the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 61 (2022: 61 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Office equipment
Total
£
£
£
£
£
£
Cost
At 1 Jan 2023
1,468,963
21,954
601,884
13,765
47,416
2,153,982
Additions
1,805
425
687
2,917
------------
--------
---------
--------
--------
------------
At 31 Dec 2023
1,468,963
23,759
602,309
13,765
48,103
2,156,899
------------
--------
---------
--------
--------
------------
Depreciation
At 1 Jan 2023
983,306
18,297
489,223
13,551
33,297
1,537,674
Charge for the year
59,925
1,114
23,501
53
12,732
97,325
------------
--------
---------
--------
--------
------------
At 31 Dec 2023
1,043,231
19,411
512,724
13,604
46,029
1,634,999
------------
--------
---------
--------
--------
------------
Carrying amount
At 31 Dec 2023
425,732
4,348
89,585
161
2,074
521,900
------------
--------
---------
--------
--------
------------
At 31 Dec 2022
485,657
3,657
112,661
214
14,119
616,308
------------
--------
---------
--------
--------
------------
The cost of land not depreciated is £65,340 (2022: £65,340).
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
1,000
-------
Impairment
At 1 January 2023 and 31 December 2023
-------
Carrying amount
At 31 December 2023
1,000
-------
At 31 December 2022
1,000
-------
7. Debtors
2023
2022
£
£
Trade debtors
30,012
31,593
Other debtors
13,295
17,042
--------
--------
43,307
48,635
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
125,432
157,816
Social security and other taxes
255,438
190,233
Other creditors
95,322
82,629
---------
---------
476,192
430,678
---------
---------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
27,590
37,426
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
27,590
37,426
--------
--------