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Company No: 06058668 (England and Wales)

FROGNAL GARDENS LIMITED

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

FROGNAL GARDENS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

FROGNAL GARDENS LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
FROGNAL GARDENS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
Director Noel Brock
Secretary Izabela Urban
Registered office 305 Finchley Road
London
NW3 6DT
United Kingdom
Company number 06058668 (England and Wales)
Accountant Kreston Reeves LLP
2nd Floor
168 Shoreditch High Street
London
E1 6RA
FROGNAL GARDENS LIMITED

BALANCE SHEET

As at 31 January 2024
FROGNAL GARDENS LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 20,153 32,497
20,153 32,497
Current assets
Stocks 6 12,193 12,361
Debtors 7 52,899 37,200
Cash at bank and in hand 8 65,556 114,996
130,648 164,557
Creditors: amounts falling due within one year 9 ( 99,465) ( 103,955)
Net current assets 31,183 60,602
Total assets less current liabilities 51,336 93,099
Creditors: amounts falling due after more than one year 10 ( 14,187) ( 23,177)
Net assets 37,149 69,922
Capital and reserves
Called-up share capital 11 1 1
Share premium account 31,600 31,600
Profit and loss account 5,548 38,321
Total shareholders' funds 37,149 69,922

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 Frognal Gardens Limited (registered number: 06058668) were approved and authorised for issue by the Director on 14 October 2024. They were signed on its behalf by:

Noel Brock
Director
FROGNAL GARDENS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
FROGNAL GARDENS 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

Frognal 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 305 Finchley Road, London, NW3 6DT, 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 has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill not amortised
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:

Plant and machinery 4 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 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.

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.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 15 14

3. Dividends on equity shares

2024 2023
£ £
Amounts recognised as distributions to equity holders in the financial year:
Final dividend for the financial year ended 31 January 2024 of £61.5 (2023: £70) per ordinary share 80,934 92,120

4. Intangible assets

Goodwill Total
£ £
Cost/Valuation
At 01 February 2023 80,000 80,000
At 31 January 2024 80,000 80,000
Accumulated amortisation
At 01 February 2023 80,000 80,000
At 31 January 2024 80,000 80,000
Net book value
At 31 January 2024 0 0
At 31 January 2023 0 0

5. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 February 2023 29,097 40,665 16,955 86,717
Additions 1,329 0 1,142 2,471
At 31 January 2024 30,425 40,665 18,098 89,188
Accumulated depreciation
At 01 February 2023 21,894 18,069 14,257 54,220
Charge for the financial year 3,149 10,166 1,500 14,815
At 31 January 2024 25,043 28,235 15,757 69,035
Net book value
At 31 January 2024 5,382 12,430 2,341 20,153
At 31 January 2023 7,203 22,596 2,698 32,497

6. Stocks

2024 2023
£ £
Stocks 12,193 12,361

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

7. Debtors

2024 2023
£ £
Trade debtors 37,070 37,200
Other debtors 15,829 0
52,899 37,200

8. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 65,556 114,996

9. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 12,514
Trade creditors 6,660 2,118
Taxation and social security 42,918 47,372
Other creditors 39,887 41,951
99,465 103,955

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

2024 2023
£ £
Bank loans 14,187 23,177

There are no amounts included above in respect of which any security has been given by the small entity.

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,316 Ordinary shares of £ 0.001 each 1 1