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REGISTERED NUMBER: 13939205 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

SUNK ISLAND GARDEN CENTRE LTD

SUNK ISLAND GARDEN CENTRE LTD (REGISTERED NUMBER: 13939205)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUNK ISLAND GARDEN CENTRE LTD

COMPANY INFORMATION
for the Year Ended 28 February 2024







DIRECTOR: S Daniels





SECRETARY:





REGISTERED OFFICE: The Elms
Sunk Island Road
Ottringham
Hull
North Humberside
HU12 0DX





REGISTERED NUMBER: 13939205 (England and Wales)





ACCOUNTANTS: The Accountancy & Administration Bureau
31 Thornfields
Thorngumbald
East Riding

SUNK ISLAND GARDEN CENTRE LTD (REGISTERED NUMBER: 13939205)

BALANCE SHEET
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,991 23,363

CURRENT ASSETS
Stocks 32,625 27,420
Debtors 5 - 4,277
Cash at bank and in hand 7,558 765
40,183 32,462
CREDITORS
Amounts falling due within one year 6 33,332 29,837
NET CURRENT ASSETS 6,851 2,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,842

25,988

CREDITORS
Amounts falling due after more than one
year

7

(8,978

)

(12,205

)

PROVISIONS FOR LIABILITIES (3,228 ) (4,310 )
NET ASSETS 11,636 9,473

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,536 9,373
SHAREHOLDERS' FUNDS 11,636 9,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SUNK ISLAND GARDEN CENTRE LTD (REGISTERED NUMBER: 13939205)

BALANCE SHEET - continued
28 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





S Daniels - Director


SUNK ISLAND GARDEN CENTRE LTD (REGISTERED NUMBER: 13939205)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Sunk Island Garden Centre Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

SUNK ISLAND GARDEN CENTRE LTD (REGISTERED NUMBER: 13939205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 25,487
DEPRECIATION
At 1 March 2023 2,124
Charge for year 6,372
At 28 February 2024 8,496
NET BOOK VALUE
At 28 February 2024 16,991
At 28 February 2023 23,363

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 25,487
DEPRECIATION
At 1 March 2023 2,124
Charge for year 6,372
At 28 February 2024 8,496
NET BOOK VALUE
At 28 February 2024 16,991
At 28 February 2023 23,363

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 4,277

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,572 3,572
Taxation and social security 4,989 -
Other creditors 24,771 26,265
33,332 29,837

SUNK ISLAND GARDEN CENTRE LTD (REGISTERED NUMBER: 13939205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 8,978 12,205

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 12,550 15,777

The hire purchase loan is secured on the asset held.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2023 - £9,000) were paid to the director .