Registered number
08158680
UK Garden Buildings (Rugeley) Limited
Filleted Accounts
31 December 2023
UK Garden Buildings (Rugeley) Limited
Registered number: 08158680
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,164,381 949,443
Investments 4 150,000 -
1,314,381 949,443
Current assets
Stocks 477,349 345,163
Debtors 5 479,958 112,155
Cash at bank 1,202,579 1,463,670
2,159,886 1,920,988
Creditors: amounts falling due within one year 6 (896,404) (581,337)
Net current assets 1,263,482 1,339,651
Net assets 2,577,863 2,289,094
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,577,862 2,289,093
Shareholders' funds 2,577,863 2,289,094
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
M Hill
Director
Approved by the board on 12 April 2024
UK Garden Buildings (Rugeley) Limited
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 all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold buildings 10% straight line
Plant and machinery 10% straight line
Fixtures, fittings, tools and equipment 10% straight line
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 40 40
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 154,302 648,435 1,172,048 1,974,785
Additions - 86,486 323,824 410,310
At 31 December 2023 154,302 734,921 1,495,872 2,385,095
Depreciation
At 1 January 2023 61,720 258,858 704,764 1,025,342
Charge for the year 15,430 69,725 110,217 195,372
At 31 December 2023 77,150 328,583 814,981 1,220,714
Net book value
At 31 December 2023 77,152 406,338 680,891 1,164,381
At 31 December 2022 92,582 389,577 467,284 949,443
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 150,000
At 31 December 2023 150,000
5 Debtors 2023 2022
£ £
Trade debtors 40,549 65,317
Other debtors 439,409 46,838
479,958 112,155
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 539,789 288,705
Taxation and social security costs 356,613 268,152
Other creditors 2 24,480
896,404 581,337
7 Controlling party
The company is controlled by Mr M Hill, by virtue of his ownership of all issued share capital.
8 Other information
UK Garden Buildings (Rugeley) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Second Floor, West Wing
10 Harborne Road
Edgbaston
Birmingham
B15 3AA
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