Company Registration No. 08829925 (England and Wales)
The Gardenists Ltd.
Unaudited accounts
for the year ended 30 June 2024
The Gardenists Ltd.
Unaudited accounts
Contents
The Gardenists Ltd.
Company Information
for the year ended 30 June 2024
Director
Mr Simon Antony Kitchin
Company Number
08829925 (England and Wales)
Registered Office
2 Scout Lane
Clapham
London
SW4 0LA
England
Accountants
AccountsCo
47 Islington Park Street
London
N1 1QB
England
The Gardenists Ltd.
Statement of financial position
as at 30 June 2024
Tangible assets
67,967
54,381
Cash at bank and in hand
617,295
245,682
Creditors: amounts falling due within one year
(772,613)
(840,957)
Net current assets
814,437
391,279
Net assets
882,404
445,660
Called up share capital
10
10
Profit and loss account
882,394
445,650
Shareholders' funds
882,404
445,660
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 October 2024 and were signed on its behalf by
Mr Simon Antony Kitchin
Director
Company Registration No. 08829925
The Gardenists Ltd.
Notes to the Accounts
for the year ended 30 June 2024
The Gardenists Ltd. is a private company, limited by shares, registered in England and Wales, registration number 08829925. The registered office is 2 Scout Lane, Clapham, London, SW4 0LA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2022.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. Turnover is recognised by reference to the stage of completion of the contract.
Other income of £175,905 included in the financial statements for the year ended 30 June 2023 has been reclassified within these financial statements as Turnover
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
12.5% of cost
Motor vehicles
25.0% of cost
Fixtures & fittings
12.5% of cost
Taxation for the year comprises current 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 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 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.
The Gardenists Ltd.
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
68,639
29,017
25,617
123,273
Additions
13,923
27,253
-
41,176
At 30 June 2024
82,562
56,270
25,617
164,449
At 1 July 2023
34,320
21,763
12,809
68,892
Charge for the year
10,320
14,068
3,202
27,590
At 30 June 2024
44,640
35,831
16,011
96,482
At 30 June 2024
37,922
20,439
9,606
67,967
At 30 June 2023
34,319
7,254
12,808
54,381
Amounts falling due within one year
Trade debtors
186,072
555,516
Accrued income and prepayments
74,780
47,932
Other debtors
663,903
354,106
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
61,965
229,656
Taxes and social security
253,844
144,194
Other creditors
10,587
13,596
Deferred income
446,217
453,511
During the year the company advanced £1,777,665 (2023: £714,128) to the Director, of which during the year £1,994,333 (2023: £611,436) was repaid. The maximum amount outstanding during the year was £612,854 (2023:£ 458,860). The amount outstanding at year end was £28,480 (2023: £245,149). The advance is repayable on demand and accrued interest at 2.25% (2023: 2.00%).
8
Transactions with related parties
The company made an unsecured, interest free loan, repayable on demand, of £581,063 (2023: £Nil) to Hands Residential Ltd. The company also provided construction services to Hands Residential Ltd with a value of £8,729 (2023: £Nil). The company and Hands Residential Ltd are related by virtue of common control.
9
Average number of employees
During the year the average number of employees was 21 (2023: 11).
The Gardenists Ltd.
Notes to the Accounts
for the year ended 30 June 2024
10
Reconciliations on adoption of FRS 102
The transition to FRS 102 Section 1A Small Entities has resulted in a change in the company’s accounting policy for deferred tax. The impact of this change is to reduce shareholders' funds at 30 June 2022 and 1 July 2022 by £ 3,210 and at 30 June 2023 by £13,596. This change also reduced the profit for the year ending 30 June 2023 by £13,596. These changes are reflected in the comparative figures contained in these financial statements.