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REGISTERED NUMBER: SC281966 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HOME & GARDENS LIMITED

HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOME & GARDENS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T McColm
Mrs J McColm
D McColm





REGISTERED OFFICE: 84 George Street
Stranraer
WIGTOWNSHIRE
DG9 7JS





REGISTERED NUMBER: SC281966 (Scotland)





ACCOUNTANTS: Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA

HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 141,000 156,200
Tangible assets 5 311,551 351,622
Investments 6 17,500 17,500
Investment property 7 250,000 250,000
720,051 775,322

CURRENT ASSETS
Stocks 728,362 860,944
Debtors 8 328,958 277,335
Cash at bank and in hand 635,135 441,440
1,692,455 1,579,719
CREDITORS
Amounts falling due within one year 9 344,430 390,150
NET CURRENT ASSETS 1,348,025 1,189,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,068,076

1,964,891

CREDITORS
Amounts falling due after more than one
year

10

(15,920

)

(33,200

)

PROVISIONS FOR LIABILITIES (28,296 ) (36,201 )
NET ASSETS 2,023,860 1,895,490

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 52,696 52,696
Retained earnings 1,971,064 1,842,694
2,023,860 1,895,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

BALANCE SHEET - continued
31 DECEMBER 2023


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 11 September 2024 and were signed on its behalf by:





D McColm - Director


HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Home & Gardens Limited is a private company, limited by shares , registered in Scotland. 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.

Critical accounting judgements and key sources of estimation uncertainty
Covid 19 is one of the most significant economic events for the UK, and at this date its effects are subject to unprecedented levels of uncertainty of outcomes, with the full range of possible effects unknown. However, no company should be expected to predict the unknowable factors or all possible future implications for its business and this is particularly the case in relation to Covid 19.

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 has been amortised evenly over its useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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 25 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 380,000
AMORTISATION
At 1 January 2023 223,800
Charge for year 15,200
At 31 December 2023 239,000
NET BOOK VALUE
At 31 December 2023 141,000
At 31 December 2022 156,200

HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 409,104 651,058 1,060,162
Additions - 7,669 7,669
Disposals - (4,915 ) (4,915 )
At 31 December 2023 409,104 653,812 1,062,916
DEPRECIATION
At 1 January 2023 203,774 504,766 708,540
Charge for year 8,182 36,563 44,745
Eliminated on disposal - (1,920 ) (1,920 )
At 31 December 2023 211,956 539,409 751,365
NET BOOK VALUE
At 31 December 2023 197,148 114,403 311,551
At 31 December 2022 205,330 146,292 351,622

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 17,500
NET BOOK VALUE
At 31 December 2023 17,500
At 31 December 2022 17,500

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 250,000
NET BOOK VALUE
At 31 December 2023 250,000
At 31 December 2022 250,000

HOME & GARDENS LIMITED (REGISTERED NUMBER: SC281966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 20,783 6,207
Other debtors 308,175 271,128
328,958 277,335

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts - 118,648
Trade creditors 62,825 90,148
Taxation and social security 144,043 110,787
Other creditors 137,562 70,567
344,430 390,150

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Other creditors 15,920 33,200

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 52,696

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31/12/23 31/12/22
£    £   
D McColm
Balance outstanding at start of year - 176,553
Amounts repaid - (176,553 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

13. ULTIMATE CONTROLLING PARTY

The controlling party is D McColm.