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REGISTERED NUMBER: 06806204 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Malvern Garden Buildings Ltd

Malvern Garden Buildings Ltd (Registered number: 06806204)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Malvern Garden Buildings Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs L A Peck
A L Peck





REGISTERED OFFICE: Breeze House Sunnyhills Road
Barnfields Ind. Est.
Leek
Staffordshire
ST13 5RJ





REGISTERED NUMBER: 06806204 (England and Wales)

Malvern Garden Buildings Ltd (Registered number: 06806204)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 41,842 58,071
Tangible assets 5 17,174 20,466
Investments 6 16,000 32,000
75,016 110,537

CURRENT ASSETS
Stocks 165,155 225,917
Debtors 7 568,440 449,240
Cash at bank and in hand 1,057,237 809,564
1,790,832 1,484,721
CREDITORS
Amounts falling due within one year 8 232,427 175,021
NET CURRENT ASSETS 1,558,405 1,309,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,633,421

1,420,237

PROVISIONS FOR LIABILITIES 3,950 4,051
NET ASSETS 1,629,471 1,416,186

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,629,469 1,416,184
1,629,471 1,416,186

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 18 September 2024 and were signed on its behalf by:





A L Peck - Director


Malvern Garden Buildings Ltd (Registered number: 06806204)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Malvern Garden Buildings Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Reclassification of comparative amounts
The directors have considered the disclosure of certain items during the year and have decided that it is appropriate to amend the comparative in places. There has been no impact on profit. as amendments have been for disclosure purposes only.

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

Intangible assets
Amortisation of the lease premium is released to the profit and loss over the term of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the 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.

Malvern Garden Buildings Ltd (Registered number: 06806204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument in any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non- current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Malvern Garden Buildings Ltd (Registered number: 06806204)

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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases.

Assets held under finance leases are recognised initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss. Asset held under finance leases are included in tangible fixed assets and depreciated and assessed for impairment losses in the same way as owned assets.

Rental payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with general inflation, in which case the company recognises annual rent expenses equal to amounts owed to the lessor.

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 38 (2022 - 38 ) .

Malvern Garden Buildings Ltd (Registered number: 06806204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 99,816
AMORTISATION
At 1 January 2023 41,745
Charge for year 16,229
At 31 December 2023 57,974
NET BOOK VALUE
At 31 December 2023 41,842
At 31 December 2022 58,071

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 101,873
Additions 3,083
At 31 December 2023 104,956
DEPRECIATION
At 1 January 2023 81,407
Charge for year 6,375
At 31 December 2023 87,782
NET BOOK VALUE
At 31 December 2023 17,174
At 31 December 2022 20,466

Malvern Garden Buildings Ltd (Registered number: 06806204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 32,000
Impairments (16,000 )
At 31 December 2023 16,000
NET BOOK VALUE
At 31 December 2023 16,000
At 31 December 2022 32,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 88,796 32,655
Amounts owed by parent 230,740 220,895
Amounts owed by group undertakings 160,060 5,648
Other debtors 88,844 190,042
568,440 449,240

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 37,518 17,156
Taxation and social security 101,107 44,430
Other creditors 93,802 113,435
232,427 175,021

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Edwards FCCA CTA (Senior Statutory Auditor)
for and on behalf of Afford Bond Holdings Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Corble Group Limited.