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REGISTERED NUMBER: 05986013 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

HERTS GARDEN BUILDINGS LIMITED

HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HERTS GARDEN BUILDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: G Monk
Mrs J M Monk





SECRETARY: G Monk





REGISTERED OFFICE: Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP





REGISTERED NUMBER: 05986013 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 300,000 350,000
Tangible assets 5 135,537 139,314
435,537 489,314

CURRENT ASSETS
Stocks 8,657 12,245
Debtors 6 30,693 43,262
Cash at bank and in hand 71,507 77,872
110,857 133,379
CREDITORS
Amounts falling due within one year 7 114,330 175,176
NET CURRENT LIABILITIES (3,473 ) (41,797 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

432,064

447,517

CREDITORS
Amounts falling due after more than one
year

8

(12,500

)

(22,500

)

PROVISIONS FOR LIABILITIES (5,474 ) (8,034 )
NET ASSETS 414,090 416,983

CAPITAL AND RESERVES
Called up share capital 7 6
Retained earnings 414,083 416,977
SHAREHOLDERS' FUNDS 414,090 416,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th August 2024 and were signed on its behalf by:





G Monk - Director


HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Herts Garden Buildings Limited 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

Accounting convention
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.

Going concern justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could effect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st March 2024 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Display Equipment - 33% on cost
Motor vehicles - 25% on reducing balance
Office Equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.


HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 510,000
AMORTISATION
At 1st April 2023 160,000
Charge for year 50,000
At 31st March 2024 210,000
NET BOOK VALUE
At 31st March 2024 300,000
At 31st March 2023 350,000

HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Display
property machinery Equipment
£    £    £   
COST
At 1st April 2023 107,179 21,910 14,349
Additions - - 5,631
At 31st March 2024 107,179 21,910 19,980
DEPRECIATION
At 1st April 2023 - 17,835 13,943
Charge for year - 1,328 2,264
At 31st March 2024 - 19,163 16,207
NET BOOK VALUE
At 31st March 2024 107,179 2,747 3,773
At 31st March 2023 107,179 4,075 406

Motor Office
vehicles Equipment Totals
£    £    £   
COST
At 1st April 2023 70,524 11,392 225,354
Additions - 1,139 6,770
At 31st March 2024 70,524 12,531 232,124
DEPRECIATION
At 1st April 2023 45,623 8,639 86,040
Charge for year 6,225 730 10,547
At 31st March 2024 51,848 9,369 96,587
NET BOOK VALUE
At 31st March 2024 18,676 3,162 135,537
At 31st March 2023 24,901 2,753 139,314

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,529 3,150
Other debtors 29,164 40,112
30,693 43,262

HERTS GARDEN BUILDINGS LIMITED (REGISTERED NUMBER: 05986013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 34,072 65,560
Taxation and social security 63,280 74,961
Other creditors 6,978 24,655
114,330 175,176

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 22,500

9. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £64,426(2023: £54,000).