Garden Club London Limited 08076706 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Landscape activities Digita Accounts Production Advanced 6.30.9574.0 true true 08076706 2023-01-01 2023-12-31 08076706 2023-12-31 08076706 bus:OrdinaryShareClass1 2023-12-31 08076706 bus:OrdinaryShareClass2 2023-12-31 08076706 core:CurrentFinancialInstruments 2023-12-31 08076706 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08076706 core:Non-currentFinancialInstruments 2023-12-31 08076706 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08076706 core:FurnitureFittingsToolsEquipment 2023-12-31 08076706 core:OtherPropertyPlantEquipment 2023-12-31 08076706 bus:SmallEntities 2023-01-01 2023-12-31 08076706 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08076706 bus:FilletedAccounts 2023-01-01 2023-12-31 08076706 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08076706 bus:RegisteredOffice 2023-01-01 2023-12-31 08076706 bus:Director1 2023-01-01 2023-12-31 08076706 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08076706 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 08076706 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08076706 core:ComputerEquipment 2023-01-01 2023-12-31 08076706 core:FurnitureFittings 2023-01-01 2023-12-31 08076706 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08076706 core:MotorVehicles 2023-01-01 2023-12-31 08076706 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 08076706 core:PlantMachinery 2023-01-01 2023-12-31 08076706 countries:EnglandWales 2023-01-01 2023-12-31 08076706 2022-12-31 08076706 core:FurnitureFittingsToolsEquipment 2022-12-31 08076706 core:OtherPropertyPlantEquipment 2022-12-31 08076706 2022-01-01 2022-12-31 08076706 2022-12-31 08076706 bus:OrdinaryShareClass1 2022-12-31 08076706 bus:OrdinaryShareClass2 2022-12-31 08076706 core:CurrentFinancialInstruments 2022-12-31 08076706 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08076706 core:Non-currentFinancialInstruments 2022-12-31 08076706 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08076706 core:FurnitureFittingsToolsEquipment 2022-12-31 08076706 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08076706

Garden Club London Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Garden Club London Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Garden Club London Limited

Company Information

Director

Mr T A Woods

Registered office

320 Garratt Lane
London
SW18 4EJ

Accountants

Franklin, Chartered Accountants
320 Garratt Lane
London
SW18 4EJ

 

Garden Club London Limited

(Registration number: 08076706)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

16,797

17,631

Current assets

 

Debtors

5

150,837

427,652

Cash at bank and in hand

 

396,789

426,045

 

547,626

853,697

Creditors: Amounts falling due within one year

6

(243,441)

(531,863)

Net current assets

 

304,185

321,834

Total assets less current liabilities

 

320,982

339,465

Creditors: Amounts falling due after more than one year

6

(23,657)

(33,333)

Provisions for liabilities

(3,191)

(3,350)

Net assets

 

294,134

302,782

Capital and reserves

 

Called up share capital

7

90

90

Retained earnings

294,044

302,692

Shareholders' funds

 

294,134

302,782

For the financial 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.

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Garden Club London Limited

(Registration number: 08076706)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 9 September 2024
 

.........................................
Mr T A Woods
Director

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
320 Garratt Lane
London
SW18 4EJ

These financial statements were authorised for issue by the director on 9 September 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 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 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.

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.

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.

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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 machinery

Straight line over 3 years

Fixtures and fittings

Straight line over 3 years

Motor vehicles

Straight line over 5 years

Computer equipment

Straight line over 3 years

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.

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.

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

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.

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Financial instruments

Classification
The Company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

 Recognition and measurement
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

 Impairment
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 27 (2022 - 27).

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

35,951

22,531

58,482

Additions

7,584

1,846

9,430

At 31 December 2023

43,535

24,377

67,912

Depreciation

At 1 January 2023

32,304

8,547

40,851

Charge for the year

4,263

6,001

10,264

At 31 December 2023

36,567

14,548

51,115

Carrying amount

At 31 December 2023

6,968

9,829

16,797

At 31 December 2022

3,647

13,984

17,631

5

Debtors

Current

2023
£

2022
£

Trade debtors

115,867

370,645

Prepayments

27,032

27,368

Other debtors

7,938

29,639

 

150,837

427,652

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

8,333

8,333

Trade creditors

 

93,822

153,644

Taxation and social security

 

110,697

142,575

Accruals and deferred income

 

16,791

155,543

Other creditors

 

13,798

71,768

 

243,441

531,863

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

23,657

33,333

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

60

60

60

60

Ordinary B of £1 each

40

40

40

40

100

100

100

100

 

Garden Club London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

23,657

33,333

Current loans and borrowings

2023
£

2022
£

Bank borrowings

8,333

8,333

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

13,000

12,194