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Company No: 06852373 (England and Wales)

BLACKBERRY GARDENS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BLACKBERRY GARDENS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BLACKBERRY GARDENS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
BLACKBERRY GARDENS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Russell Grant Laugharne
REGISTERED OFFICE Leeward House Fitzroy Road
Exeter Business Park
Exeter
EX1 3LJ
England
United Kingdom
BUSINESS ADDRESS The Grange
Bridford
Exeter
EX6 7LA
COMPANY NUMBER 06852373 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
BLACKBERRY GARDENS LIMITED

BALANCE SHEET

As at 31 March 2024
BLACKBERRY GARDENS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 236,872 173,544
236,872 173,544
Current assets
Stocks 1,200 1,000
Debtors
- due within one year 4 239,933 345,139
- due after more than one year 4 375,000 300,000
Cash at bank and in hand 354,111 185,400
970,244 831,539
Creditors: amounts falling due within one year 5 ( 207,548) ( 167,586)
Net current assets 762,696 663,953
Total assets less current liabilities 999,568 837,497
Creditors: amounts falling due after more than one year 6 ( 15,728) ( 25,833)
Provision for liabilities ( 55,707) ( 39,812)
Net assets 928,133 771,852
Capital and reserves
Called-up share capital 1 1
Profit and loss account 928,132 771,851
Total shareholders' funds 928,133 771,852

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Blackberry Gardens Limited (registered number: 06852373) were approved and authorised for issue by the Director on 23 September 2024. They were signed on its behalf by:

Russell Grant Laugharne
Director
BLACKBERRY GARDENS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BLACKBERRY GARDENS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blackberry Gardens Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leeward House Fitzroy Road, Exeter Business Park, Exeter, EX1 3LJ, England, United Kingdom. The principal place of business is The Grange, Bridford, Exeter, EX6 7LA.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 the 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 12 8

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 77,941 222,178 155,181 9,167 464,467
Additions 0 9,106 141,486 625 151,217
Disposals 0 0 ( 19,895) 0 ( 19,895)
At 31 March 2024 77,941 231,284 276,772 9,792 595,789
Accumulated depreciation
At 01 April 2023 56,720 136,061 92,297 5,845 290,923
Charge for the financial year 7,794 23,806 49,795 1,303 82,698
Disposals 0 0 ( 14,704) 0 ( 14,704)
At 31 March 2024 64,514 159,867 127,388 7,148 358,917
Net book value
At 31 March 2024 13,427 71,417 149,384 2,644 236,872
At 31 March 2023 21,221 86,117 62,884 3,322 173,544

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 199,272 322,413
Amounts owed by Group undertakings 2,288 6,312
Other debtors 38,373 16,414
239,933 345,139
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 375,000 300,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,106 10,000
Trade creditors 87,282 57,706
Corporation tax 82,772 72,377
Other taxation and social security 7,547 8,942
Other creditors 19,841 18,561
207,548 167,586

Bank loans falling due within one year of £10,106 (2023: £10,000) are guaranteed by the government as part of the Bounce Back Loan scheme

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 15,728 25,833

Bank loans falling due after more than one year of £15,728 (2023: £25,833) are guaranteed by the government as part of the Bounce Back Loan scheme

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 23,000 35,000

8. Related party transactions

Transactions with the entity's director

Advances

Advances were granted to the director in the form of a director's loan account during the year. At the beginning of the year the amount owed to the company was £2,595. £2,846 was advanced, and £2,648 was subsequently repaid. The balance at the end of the year was £2,793. No interest has been charged and the loan was repayable on demand.