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Registered number: 05029370









GARDEN CENTRE SALES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GARDEN CENTRE SALES LIMITED
 
 
COMPANY INFORMATION


Director
D J Clarke 




Registered number
05029370



Registered office
45 Durham Tower, Acorn Grove
Convention Quarter

Birmingham

West Midlands

B1 2PW




Accountants
Wayside Accountancy Limited

5 Willow Close

Fradley

Lichfield

Staffordshire

WS13 8RW





 
GARDEN CENTRE SALES LIMITED
REGISTERED NUMBER: 05029370

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 3 
102
-

Current asset investments
 4 
99,531
99,531

Cash at bank and in hand
 5 
4,173
5,840

  
103,806
105,371

Creditors: amounts falling due within one year
 6 
(415)
(2,325)

Net current assets
  
 
 
103,391
 
 
103,046

Total assets less current liabilities
  
103,391
103,046

  

Net assets
  
103,391
103,046


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
103,291
102,946

  
103,391
103,046


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 September 2024.


D J Clarke
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
GARDEN CENTRE SALES LIMITED
REGISTERED NUMBER: 05029370
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
GARDEN CENTRE SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Garden Centre Sales Limited is a limited liability company incorporated and domiciled in the United Kingdom.
The address of its registered office and registration number is shown on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
GARDEN CENTRE SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Debtors

2023
2022
£
£


Other debtors
102
-



4.


Current asset investments

2023
2022
£
£

Unlisted investments
99,531
99,531


Page 4

 
GARDEN CENTRE SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,173
5,840



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
315
2,172

Other taxation and social security
-
53

Other creditors
100
100

415
2,325



7.


Controlling party

The company is controlled by Mr D J Clarke.

 
Page 5