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Company No: 03922215 (England and Wales)

HAMBROOK GARDEN SUPPLIES LIMITED

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

HAMBROOK GARDEN SUPPLIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

HAMBROOK GARDEN SUPPLIES LIMITED

BALANCE SHEET

As at 31 January 2024
HAMBROOK GARDEN SUPPLIES LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 47,386 30,840
47,386 30,840
Current assets
Stocks 4 237,734 267,371
Debtors 5 617,865 260,442
Cash at bank and in hand 54,793 23,474
910,392 551,287
Creditors: amounts falling due within one year 6 ( 1,161,335) ( 787,335)
Net current liabilities (250,943) (236,048)
Total assets less current liabilities (203,557) (205,208)
Net liabilities ( 203,557) ( 205,208)
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 203,559 ) ( 205,210 )
Total shareholder's deficit ( 203,557) ( 205,208)

For the financial year ending 31 January 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 Hambrook Garden Supplies Limited (registered number: 03922215) were approved and authorised for issue by the Director on 30 September 2024. They were signed on its behalf by:

N Hambrook
Director
HAMBROOK GARDEN SUPPLIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
HAMBROOK GARDEN SUPPLIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 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

Hambrook Garden Supplies 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 Wangfield Lane, Curdridge, Southampton, SO32 2DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £203,557. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance
Computer equipment 3 years straight line

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.

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 Profit and Loss Account 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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 13 17

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 February 2023 76,495 100,201 6,000 40,756 29,121 59,859 312,432
Additions 10,635 0 14,000 0 0 0 24,635
At 31 January 2024 87,130 100,201 20,000 40,756 29,121 59,859 337,067
Accumulated depreciation
At 01 February 2023 73,537 77,060 5,843 38,116 27,177 59,859 281,592
Charge for the financial year 1,335 4,628 1,206 531 389 0 8,089
At 31 January 2024 74,872 81,688 7,049 38,647 27,566 59,859 289,681
Net book value
At 31 January 2024 12,258 18,513 12,951 2,109 1,555 0 47,386
At 31 January 2023 2,958 23,141 157 2,640 1,944 0 30,840

4. Stocks

2024 2023
£ £
Stocks 237,734 267,371

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

2024 2023
£ £
Trade debtors 28,324 ( 6,806)
Amounts owed by Group undertakings 589,541 266,357
Other debtors 0 891
617,865 260,442

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 43,715 8,283
Amounts owed to Group undertakings 1,082,789 756,921
Other taxation and social security 11,322 5,976
Other creditors 23,509 16,155
1,161,335 787,335