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Registered number: 08299735
New Form Landscapes Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
JLH Financial Consultancy Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08299735
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 39,793 54,424
39,793 54,424
CURRENT ASSETS
Stocks 6 292,547 177,799
Debtors 7 46,437 35,948
Cash at bank and in hand 18,419 228,275
357,403 442,022
Creditors: Amounts Falling Due Within One Year 8 (209,500 ) (357,361 )
NET CURRENT ASSETS (LIABILITIES) 147,903 84,661
TOTAL ASSETS LESS CURRENT LIABILITIES 187,696 139,085
Creditors: Amounts Falling Due After More Than One Year 9 (40,047 ) (78,282 )
NET ASSETS 147,649 60,803
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 147,549 60,703
SHAREHOLDERS' FUNDS 147,649 60,803
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Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Hawkins
Director
13/03/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
New Form Landscapes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08299735 . The registered office is Coleman Croft, Woodcock Hill, St. Albans, AL4 9HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of nil years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Computer Equipment 20% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Intangible Assets
Other
£
Cost
As at 1 December 2022 27,052
As at 30 November 2023 27,052
Amortisation
As at 1 December 2022 27,052
As at 30 November 2023 27,052
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 29,707 70,809 48,584 11,036 160,136
Additions - 166 - 2,959 3,125
As at 30 November 2023 29,707 70,975 48,584 13,995 163,261
Depreciation
As at 1 December 2022 12,873 45,879 37,808 9,152 105,712
Provided during the period 5,941 8,363 2,694 758 17,756
As at 30 November 2023 18,814 54,242 40,502 9,910 123,468
Net Book Value
As at 30 November 2023 10,893 16,733 8,082 4,085 39,793
As at 1 December 2022 16,834 24,930 10,776 1,884 54,424
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6. Stocks
2023 2022
£ £
Finished goods 292,547 177,799
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 21,133 2,059
Prepayments and accrued income 680 -
Other debtors 5,576 7,914
Directors' loan accounts 19,048 25,975
46,437 35,948
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 832
Trade creditors 42,293 92,024
Bank loans and overdrafts 37,712 40,347
Corporation tax 29,846 38,617
Other taxes and social security 5,668 2,522
VAT 25,636 42,175
Other creditors 933 131,410
Accruals and deferred income 67,412 9,434
209,500 357,361
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 40,047 78,282
40,047 78,282
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 832
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Benjamin Hawkins 10,554 692 3,299 - 7,947
Mr Simon Hawkins 13,798 1,014 3,711 - 11,101
The above loan is unsecured, accrues interest and is repayable on demand.
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