20 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08014349 2023-01-01 2023-12-31 08014349 2023-12-31 08014349 2022-12-31 08014349 2022-01-01 2022-12-31 08014349 2022-12-31 08014349 2021-12-31 08014349 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08014349 core:PlantMachinery 2023-01-01 2023-12-31 08014349 core:FurnitureFittings 2023-01-01 2023-12-31 08014349 core:MotorVehicles 2023-01-01 2023-12-31 08014349 bus:Director1 2023-01-01 2023-12-31 08014349 bus:Director2 2023-01-01 2023-12-31 08014349 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 08014349 core:PlantMachinery 2022-12-31 08014349 core:FurnitureFittings 2022-12-31 08014349 core:MotorVehicles 2022-12-31 08014349 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 08014349 core:PlantMachinery 2023-12-31 08014349 core:FurnitureFittings 2023-12-31 08014349 core:MotorVehicles 2023-12-31 08014349 core:WithinOneYear 2023-12-31 08014349 core:WithinOneYear 2022-12-31 08014349 core:AfterOneYear 2023-12-31 08014349 core:AfterOneYear 2022-12-31 08014349 core:ShareCapital 2023-12-31 08014349 core:ShareCapital 2022-12-31 08014349 core:RetainedEarningsAccumulatedLosses 2023-12-31 08014349 core:RetainedEarningsAccumulatedLosses 2022-12-31 08014349 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 08014349 core:PlantMachinery 2022-12-31 08014349 core:FurnitureFittings 2022-12-31 08014349 core:MotorVehicles 2022-12-31 08014349 bus:SmallEntities 2023-01-01 2023-12-31 08014349 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08014349 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08014349 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08014349 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08014349
The Secret Garden (Wales) Limited
Filleted Unaudited Financial Statements
31 December 2023
The Secret Garden (Wales) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
77,086
86,351
Current assets
Stocks
40,000
40,000
Debtors
6
106,363
149,332
Cash at bank and in hand
308,560
251,270
---------
---------
454,923
440,602
Creditors: amounts falling due within one year
7
93,979
88,782
---------
---------
Net current assets
360,944
351,820
---------
---------
Total assets less current liabilities
438,030
438,171
Creditors: amounts falling due after more than one year
8
22,450
33,871
---------
---------
Net assets
415,580
404,300
---------
---------
The Secret Garden (Wales) Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
415,480
404,200
---------
---------
Shareholders funds
415,580
404,300
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Ms K Williams
Mr R Williams
Director
Director
Company registration number: 08014349
The Secret Garden (Wales) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Summit House, 10 Waterside Court, Newport, NP20 5NT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
5% straight line
Plant and machinery
-
15% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a 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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2022: 20 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
141,276
39,762
12,580
52,950
246,568
---------
--------
--------
--------
---------
Depreciation
At 1 January 2023
60,587
39,010
9,330
51,290
160,217
Charge for the year
7,234
451
750
830
9,265
---------
--------
--------
--------
---------
At 31 December 2023
67,821
39,461
10,080
52,120
169,482
---------
--------
--------
--------
---------
Carrying amount
At 31 December 2023
73,455
301
2,500
830
77,086
---------
--------
--------
--------
---------
At 31 December 2022
80,689
752
3,250
1,660
86,351
---------
--------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
15,735
3,002
Other debtors
90,628
146,330
---------
---------
106,363
149,332
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
11,375
9,660
Trade creditors
46,730
44,007
Corporation tax
28,289
19,461
Social security and other taxes
3,395
4,991
Other creditors
4,190
10,663
--------
--------
93,979
88,782
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,450
33,871
--------
--------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
409,607
392,178
---------
---------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
84,743
98,201
--------
--------
10. Directors' advances, credits and guarantees
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding from the director was £62,147 this amount being included in debtors: amounts falling within one year (2022: £105,153).