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Registration number: 04118184

Tony Benger Landscaping Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Tony Benger Landscaping Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Tony Benger Landscaping Ltd

(Registration number: 04118184)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,340,406

1,454,860

Current assets

 

Stocks

5

179,328

162,878

Debtors

6

1,963,511

1,711,378

Cash at bank and in hand

 

392,519

457,361

 

2,535,358

2,331,617

Creditors: Amounts falling due within one year

7

(1,138,997)

(918,128)

Net current assets

 

1,396,361

1,413,489

Total assets less current liabilities

 

2,736,767

2,868,349

Creditors: Amounts falling due after more than one year

7

(352,603)

(368,325)

Provisions for liabilities

(222,603)

(244,514)

Net assets

 

2,161,561

2,255,510

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

2,161,461

2,255,410

Shareholders' funds

 

2,161,561

2,255,510

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

 

Tony Benger Landscaping Ltd

(Registration number: 04118184)
Statement of Financial Position as at 31 December 2023 (continued)


Mr A P Benger
Director


Ms G Pangonyte
Director

 

Tony Benger Landscaping Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dalwood Hill Nursery
Dalwood
Axminster
Devon
EX13 7ES

Principal activity

The principal activity of the company is that of landscape gardeners.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Tony Benger Landscaping Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

Straight line over 10 years

Short leasehold property

Straight line over 50 years

 

Tony Benger Landscaping Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Plant and machinery

Straight line over 3 years

Fittings fixtures and equipment

Straight line over 3 years

Motor vehicles

Straight line over 5 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Tony Benger Landscaping Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 130 (2022 - 113).

 

Tony Benger Landscaping Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

4

Tangible assets

Short leasehold property
£

Fixtures, fittings and equipment
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

745,900

190,963

911,201

913,745

2,761,809

Additions

-

17,876

95,328

184,360

297,564

Disposals

(10,380)

-

(39,436)

(35,674)

(85,490)

At 31 December 2023

735,520

208,839

967,093

1,062,431

2,973,883

Depreciation

At 1 January 2023

39,310

174,308

591,308

502,023

1,306,949

Charge for the year

16,210

14,427

182,775

157,538

370,950

Eliminated on disposal

-

-

(11,596)

(32,826)

(44,422)

At 31 December 2023

55,520

188,735

762,487

626,735

1,633,477

Carrying amount

At 31 December 2023

680,000

20,104

204,606

435,696

1,340,406

At 31 December 2022

706,590

16,655

319,893

411,722

1,454,860

Included within the net book value of land and buildings above is £680,001 (2022 - £706,591) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

179,328

162,878

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

1,430,097

1,179,716

Amounts owed by related parties

9

499,723

502,879

Other debtors

 

819

-

Prepayments

 

32,872

28,783

 

1,963,511

1,711,378

 

Tony Benger Landscaping Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

18,252

20,842

Trade creditors

 

628,442

338,963

Taxation and social security

 

320,014

279,112

Accruals and deferred income

 

158,285

182,163

Other creditors

 

14,004

97,048

 

1,138,997

918,128

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

352,603

368,325

Creditors include bank loans repayable by instalments of £279,595 (2022 - £284,957) due after more than five years.

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Other transactions with directors

Creditors include £4,176 owed by the Directors at the end of the year.

Summary of transactions with parent

Debtors include £34,657 (2022: £20,812) owed by it's parent company, TBL Associates Limited.

Summary of transactions with other related parties

Debtors include £465,066 (2022: £482,066) owed by a connected company which is under the control of one of the Directors of Tony Benger Landscaping Limited.

 

Tony Benger Landscaping Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

10

Parent and ultimate parent undertaking

The company's immediate parent is TBL Associates Limited, incorporated in England & Wales.

  These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.
 

11

Other information

Fixed charge
A Director and his wife has a fixed and floating charge over the land and property of the company.