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REGISTERED NUMBER: 04409486 (England and Wales)












PONTARDULAIS GARDEN CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 11

PONTARDULAIS GARDEN CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: D A Evans
Mrs A B Evans



SECRETARY: D A Evans



REGISTERED OFFICE: Pontardulais Garden Centre
Alltygraban Road
Pontardulais
Swansea
SA4 8DS



REGISTERED NUMBER: 04409486 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA



BANKERS: Lloyds TSB
21 Stepney Street
Llanelli
Carmarthenshire
SA15 3YD

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,705,246 2,667,889
Investment property 6 504,000 400,000
3,209,246 3,067,889

CURRENT ASSETS
Stocks 640,461 839,180
Debtors 7 40,661 65,588
Cash at bank and in hand 40,877 41,964
721,999 946,732
CREDITORS
Amounts falling due within one year 8 508,380 376,957
NET CURRENT ASSETS 213,619 569,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,422,865

3,637,664

CREDITORS
Amounts falling due after more than one
year

9

(1,422,970

)

(1,798,720

)

PROVISIONS FOR LIABILITIES (249,685 ) (249,053 )
NET ASSETS 1,750,210 1,589,891

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 731,250 731,250
Retained earnings 1,018,860 858,541
SHAREHOLDERS' FUNDS 1,750,210 1,589,891

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

BALANCE SHEET - continued
31 JANUARY 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 Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





D A Evans - Director


PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Pontardulais Garden Centre 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

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 as modified by the revaluation of certain assets.

Going Concern
After reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2002 and 2009, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 4% on cost
Plant and Machinery - Straight line over 4 years
Fixtures and fittings - 10 - 25% straight line
Motor vehicles - Over 5 years
Tea Rooms - 25% on cost and 15% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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


PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

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

2. ACCOUNTING POLICIES - continued
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.

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 or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account as incurred.

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial I instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

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

2. ACCOUNTING POLICIES - continued

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 12,788
AMORTISATION
At 1 February 2023
and 31 January 2024 12,788
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold Machinery
£    £    £   
COST OR VALUATION
At 1 February 2023 2,352,000 479,853 9,390
Additions 123,750 - 8,138
Reclassification/transfer (100,000 ) - -
At 31 January 2024 2,375,750 479,853 17,528
DEPRECIATION
At 1 February 2023 46,500 144,662 5,281
Charge for year - - -
At 31 January 2024 46,500 144,662 5,281
NET BOOK VALUE
At 31 January 2024 2,329,250 335,191 12,247
At 31 January 2023 2,305,500 335,191 4,109

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Tea Rooms Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2023 242,277 39,919 64,507 3,187,946
Additions 4,000 - 1,969 137,857
Reclassification/transfer - - - (100,000 )
At 31 January 2024 246,277 39,919 66,476 3,225,803
DEPRECIATION
At 1 February 2023 228,070 39,697 55,847 520,057
Charge for year - 222 278 500
At 31 January 2024 228,070 39,919 56,125 520,557
NET BOOK VALUE
At 31 January 2024 18,207 - 10,351 2,705,246
At 31 January 2023 14,207 222 8,660 2,667,889

Cost or valuation at 31 January 2024 is represented by:

Freehold Short Plant and
property leasehold Machinery
£    £    £   
Valuation in 2022 975,000 - -
Cost 1,400,750 479,853 17,528
2,375,750 479,853 17,528

Fixtures
and Motor
fittings vehicles Tea Rooms Totals
£    £    £    £   
Valuation in 2022 - - - 975,000
Cost 246,277 39,919 66,476 2,250,803
246,277 39,919 66,476 3,225,803

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,400,750 1,377,000

Freehold land and buildings were valued on an open market basis on 29 June 2021 by Knight Frank LLP .

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 26,606
DEPRECIATION
At 1 February 2023
and 31 January 2024 26,606
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 400,000
Additions 4,000
Reclassification/transfer 100,000
At 31 January 2024 504,000
NET BOOK VALUE
At 31 January 2024 504,000
At 31 January 2023 400,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,963 -
Other debtors 24,698 65,588
40,661 65,588

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 170,400 180,000
Trade creditors 172,531 108,746
Taxation and social security 131,688 58,855
Other creditors 33,761 29,356
508,380 376,957

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 987,929 1,215,226
Other creditors 435,041 583,494
1,422,970 1,798,720

PONTARDULAIS GARDEN CENTRE LIMITED (REGISTERED NUMBER: 04409486)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 306,329 495,226

10. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 731,250

11. ULTIMATE CONTROL

The company is controlled by Mr and Mrs Evans, the directors of the company, by virtue of their shareholdings.

12. NON-DISTRIBUTABLE RESERVES

An amount of £731,250 is included in fair value reserves in relation to the investment property revaluation, this is not distributable to the shareholders.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PONTARDULAIS GARDEN CENTRE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pontardulais Garden Centre Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pontardulais Garden Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pontardulais Garden Centre Limited and state those matters that we have agreed to state to the Board of Directors of Pontardulais Garden Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pontardulais Garden Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pontardulais Garden Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pontardulais Garden Centre Limited. You consider that Pontardulais Garden Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pontardulais Garden Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


18 March 2024