Registered number
SC374144
GYE Garden Care Ltd
Filleted Accounts
31 December 2023
GYE Garden Care Ltd
Registered number: SC374144
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,154 16,848
Current assets
Stocks 3,048 3,048
Cash at bank and in hand 4,196 645
7,244 3,693
Creditors: amounts falling due within one year 4 (4,842) (6,494)
Net current assets/(liabilities) 2,402 (2,801)
Total assets less current liabilities 20,556 14,047
Creditors: amounts falling due after more than one year 5 (10,087) (13,793)
Bounce Back Loan (6,800) (9,200)
Provisions for liabilities (1,435) (1,435)
Net assets/(liabilities) 2,234 (10,381)
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,232 (10,383)
Shareholder's funds 2,234 (10,381)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S & R Wallace
Director
Approved by the board on 6 September 2024
GYE Garden Care Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Plant and machinery 20% on a Reducing Balance basis
Motor Vehicles 25% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 15% on a Reducing Balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 22,990 18,850 41,840
Additions 6,420 - 6,420
At 31 December 2023 29,410 18,850 48,260
Depreciation
At 1 January 2023 17,629 7,363 24,992
Charge for the year 2,242 2,872 5,114
At 31 December 2023 19,871 10,235 30,106
Net book value
At 31 December 2023 9,539 8,615 18,154
At 31 December 2022 5,361 11,487 16,848
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 5,146
Other taxes and social security costs 4,491 -
Other creditors 351 1,348
4,842 6,494
5 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,087 13,793
6 Other information
GYE Garden Care Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
13 North Park
Auchtermuchty
Fife
KY14 7DF
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