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REGISTERED NUMBER: 07806020 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

FENCING & GARDEN PRODUCTS LIMITED

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


FENCING & GARDEN PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr S Nar
Mrs P K Nar





REGISTERED OFFICE: The Yard
Harvills Hawthorn
West Bromwich
B70 0UH





REGISTERED NUMBER: 07806020 (England and Wales)





AUDITORS: R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023


The directors present their strategic report for the year ended 31st December 2023.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties that we face.

Fencing & Garden Products Limited is a family owned and run business which operates in the UK. Our business model is primarily the purchase and retail of building materials specifically including timber products such as fencing.

The key financial and other performance indicators during the year were as follows:

2023 2022 change
£'000 £' 000 %

Turnover 14,382 24,161 -40.47%
Operating profit 574 496 +15.73%
Profit after tax 430 409 +5.13%
Current Assets as % of Current liabilities 244.12% 254.39% -4.04%
Debtors turnover as days 34.84 42.49 -18.00%

Our overall objective is to maintain and improve the level of trade that we currently enjoy.

Overall, at present, our market is reasonably stable and we would expect further improvement in turnover in the coming year.

The products sold by the company have minimal environmental impact. However, the board believes that good environmental practices support the board's strategy by enhancing the reputation of the company. These practises continue to achieve increased energy efficiency and reduced wastage.


FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The company recognizes a variety of financial and market based risks, including exposure to fluctuating interest risks, changing economic conditions, technological and industry based risks, the competitive environment and regulatory changes. These, either singularly or collectively, may affect revenue, cost structure or the value of assets within the business, and are all difficult to quantify.
The main financial risks arising from the company's business are liquidity and cash flow risk and credit risk, and policies with respect to these risks are described below. There is no currency exposure as all material transactions and financial instruments are in Sterling.

Liquidity and cash flow risk

Liquidity and cash flow risk is in risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities and exposure to variability in cash flows. The company also manages liquidity and cash flow risk by utilising its cash flow resources.

Credit risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. Company policies are aimed at minimising such losses, and require that deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures.

Other risks

IT risk and cyber security

The company has various IT systems and applications, the obsolescence or failure of which could impede trading. Failure to put in place adequate preventative measures, if attacked, could lead to data loss or the inability to use the IT systems for a prolonged period. The IT strategy is focused on ensuring the long-term stability of operating systems and data security, whilst keeping pace with the changing face of consumer IT expectations. We continue to strengthen IT security to mitigate the increasing risk of cyber security threats.

People and succession

Attracting and maintaining talented team members and investing in their training and development are essential to the efficiency and sustainability of the company. Succession planning is embedded across the company and is proactively managed.

ON BEHALF OF THE BOARD:





Mr S Nar - Director


23rd September 2024

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31st December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of garden product retailer.

DIVIDENDS
The total distribution of dividends for the year ended 31st December 2023 will be £ 52,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

Mr S Nar
Mrs P K Nar

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, R Pau & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr S Nar - Director


23rd September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FENCING & GARDEN PRODUCTS LIMITED


Opinion
We have audited the financial statements of Fencing & Garden Products Limited (the 'company') for the year ended 31st December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FENCING & GARDEN PRODUCTS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FENCING & GARDEN PRODUCTS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outline above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified the principal risks
of non-compliance with laws and regulations related to the acts by the company which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition.

Audit procedures performed included:

o Review of the financial statement disclosures to underlying supporting documentation
o Enquiring of management and directors concerning actual and potential litigation and claims including knowledge of any non-compliance with laws and regulations
o In addressing the fraud risk in revenue recognition we have tested a sample of revenues recorded through agreement of booking period terms
o In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of non-compliance with laws and regulations that are not closely related to the events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FENCING & GARDEN PRODUCTS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Nimesh Pau F.C.C.A (Senior Statutory Auditor)
for and on behalf of R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ

23rd September 2024

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

Year Ended Period
31/12/23 1/11/21 to 31/12/22
Notes £    £    £    £   

TURNOVER 14,382,417 24,161,238

Cost of sales 11,906,695 21,199,873
GROSS PROFIT 2,475,722 2,961,365

Distribution costs 985,211 1,293,543
Administrative expenses 989,127 1,213,336
1,974,338 2,506,879
501,384 454,486

Other operating income 72,135 41,527
OPERATING PROFIT 4 573,519 496,013

Interest receivable and similar income 3,257 -
PROFIT BEFORE TAXATION 576,776 496,013

Tax on profit 5 146,562 87,203
PROFIT FOR THE FINANCIAL YEAR 430,214 408,810

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST DECEMBER 2023

Period
1/11/21
Year Ended to
31/12/23 31/12/22
Notes £    £   

PROFIT FOR THE YEAR 430,214 408,810


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

430,214

408,810

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 334,341 347,865

CURRENT ASSETS
Stocks 8 2,734,547 1,806,408
Debtors 9 4,128,218 4,233,131
Cash at bank and in hand 679,551 604,784
7,542,316 6,644,323
CREDITORS
Amounts falling due within one year 10 3,089,646 2,611,883
NET CURRENT ASSETS 4,452,670 4,032,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,787,011

4,380,305

CREDITORS
Amounts falling due after more than one
year

11

28,492

-
NET ASSETS 4,758,519 4,380,305

CAPITAL AND RESERVES
Called up share capital 13 200 200
Retained earnings 4,758,319 4,380,105
SHAREHOLDERS' FUNDS 4,758,519 4,380,305

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:





Mr S Nar - Director


FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st November 2021 200 4,031,295 4,031,495

Changes in equity
Dividends - (60,000 ) (60,000 )
Total comprehensive income - 408,810 408,810
Balance at 31st December 2022 200 4,380,105 4,380,305

Changes in equity
Dividends - (52,000 ) (52,000 )
Total comprehensive income - 430,214 430,214
Balance at 31st December 2023 200 4,758,319 4,758,519

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

Period
1/11/21
Year Ended to
31/12/23 31/12/22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 283,186 (673,774 )
Tax paid (110,108 ) (363,910 )
Net cash from operating activities 173,078 (1,037,684 )

Cash flows from investing activities
Purchase of tangible fixed assets (32,260 ) (21,500 )
Sale of tangible fixed assets - 83,534
Interest received 3,257 -
Net cash from investing activities (29,003 ) 62,034

Cash flows from financing activities
Capital repayments in year 33,557 (99,534 )
Amount withdrawn by directors (50,865 ) (58,994 )
Equity dividends paid (52,000 ) (60,000 )
Net cash from financing activities (69,308 ) (218,528 )

Increase/(decrease) in cash and cash equivalents 74,767 (1,194,178 )
Cash and cash equivalents at beginning of
year

2

604,784

1,798,962

Cash and cash equivalents at end of year 2 679,551 604,784

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period
1/11/21
Year Ended to
31/12/23 31/12/22
£    £   
Profit before taxation 576,776 496,013
Depreciation charges 45,783 48,224
Loss on disposal of fixed assets - 7,801
Finance income (3,257 ) -
619,302 552,038
(Increase)/decrease in stocks (928,139 ) 2,169,439
Decrease in trade and other debtors 104,913 64,746
Increase/(decrease) in trade and other creditors 487,110 (3,459,997 )
Cash generated from operations 283,186 (673,774 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 679,551 604,784
Period ended 31st December 2022
31/12/22 1/11/21
£    £   
Cash and cash equivalents 604,784 1,798,962


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank and in hand 604,784 74,767 679,551
604,784 74,767 679,551
Debt
Finance leases - (33,557 ) (33,557 )
- (33,557 ) (33,557 )
Total 604,784 41,210 645,994

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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


1. STATUTORY INFORMATION

Fencing & Garden Products 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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


2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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
Period
1/11/21
Year Ended to
31/12/23 31/12/22
£    £   
Wages and salaries 798,989 757,750
Social security costs 1,681 2,058
Other pension costs 936 1,116
801,606 760,924

The average number of employees during the year was as follows:
Period
1/11/21
Year Ended to
31/12/23 31/12/22

Employees 31 24

Period
1/11/21
Year Ended to
31/12/23 31/12/22
£    £   
Directors' remuneration 31,200 37,200
Directors' pension contributions to money purchase schemes 936 1,116

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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


4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1/11/21
Year Ended to
31/12/23 31/12/22
£    £   
Hire of plant and machinery 50,031 109,455
Depreciation - owned assets 37,986 48,224
Depreciation - assets on hire purchase contracts 7,798 -
Loss on disposal of fixed assets - 7,801
Foreign exchange differences (870 ) (11,527 )

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1/11/21
Year Ended to
31/12/23 31/12/22
£    £   
Current tax:
UK corporation tax 146,562 114,746

Deferred tax - (27,543 )
Tax on profit 146,562 87,203

6. DIVIDENDS
Period
1/11/21
Year Ended to
31/12/23 31/12/22
£    £   
Interim dividends 52,000 60,000

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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


7. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st January 2023 250,000 9,562 115,722
Additions - - -
At 31st December 2023 250,000 9,562 115,722
DEPRECIATION
At 1st January 2023 - - 62,568
Charge for year - - 28,931
At 31st December 2023 - - 91,499
NET BOOK VALUE
At 31st December 2023 250,000 9,562 24,223
At 31st December 2022 250,000 9,562 53,154

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st January 2023 11,423 56,480 443,187
Additions 1,069 31,191 32,260
At 31st December 2023 12,492 87,671 475,447
DEPRECIATION
At 1st January 2023 4,976 27,778 95,322
Charge for year 1,879 14,974 45,784
At 31st December 2023 6,855 42,752 141,106
NET BOOK VALUE
At 31st December 2023 5,637 44,919 334,341
At 31st December 2022 6,447 28,702 347,865

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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


7. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 31,191
At 31st December 2023 31,191
DEPRECIATION
Charge for year 7,798
At 31st December 2023 7,798
NET BOOK VALUE
At 31st December 2023 23,393

8. STOCKS
2023 2022
£    £   
Stocks 2,734,547 1,806,408

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,491,194 2,410,008
Amouts owed from related
parties 2,272,236 1,615,717
Value added taxation 315,825 141,429
Prepayments 48,963 65,977
4,128,218 4,233,131

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 12) 5,065 -
Trade creditors 2,692,824 2,289,597
Commercial card 49,565 27,194
Corporation taxation 151,200 114,746
PAYE and national insurance 15,364 9,596
Pension 2,059 1,417
Directors' current accounts 30,041 80,906
Accrued expenses 143,528 88,427
3,089,646 2,611,883

FENCING & GARDEN PRODUCTS LIMITED (REGISTERED NUMBER: 07806020)

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


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 12) 28,492 -

12. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 5,065 -
Between one and five years 28,492 -
33,557 -

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 ORDINARY £1 200 200