Company registration number 08284577 (England and Wales)
WESTCOUNTRY WATER GARDENS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
WESTCOUNTRY WATER GARDENS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WESTCOUNTRY WATER GARDENS LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,375,386
1,311,446
Current assets
Stocks
370,681
354,129
Debtors
5
14,645
7,247
Investments
6
1,000
1,000
Cash at bank and in hand
157,946
316,448
544,272
678,824
Creditors: amounts falling due within one year
7
(579,700)
(527,365)
Net current (liabilities)/assets
(35,428)
151,459
Total assets less current liabilities
1,339,958
1,462,905
Creditors: amounts falling due after more than one year
8
(524,334)
(720,783)
Provisions for liabilities
(79,854)
(43,493)
Net assets
735,770
698,629
Capital and reserves
Called up share capital
10
2
2
Profit and loss reserves
735,768
698,627
Total equity
735,770
698,629

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

WESTCOUNTRY WATER GARDENS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 October 2024 and are signed on its behalf by:
Mr D F Tucker
Mrs M E Tucker
Director
Director
Company Registration No. 08284577
WESTCOUNTRY WATER GARDENS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Westcountry Water Gardens Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Westcountry Water Gardens, Bow Aquatic And Garden Centre, Bow, Crediton, Devon, EX17 6LA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% per annum on cost of buildings (no depreciation on land)
Plant and machinery
20-30% per annum on cost
Motor vehicles
20% per annum on book value
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WESTCOUNTRY WATER GARDENS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
45
44
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
65,128
41,833
106,961
Amortisation and impairment
At 1 February 2023 and 31 January 2024
65,128
41,833
106,961
Carrying amount
At 31 January 2024
-
0
-
0
-
0
At 31 January 2023
-
0
-
0
-
0
WESTCOUNTRY WATER GARDENS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023
1,383,367
344,667
16,995
1,745,029
Additions
105,882
22,739
-
0
128,621
At 31 January 2024
1,489,249
367,406
16,995
1,873,650
Depreciation and impairment
At 1 February 2023
155,464
265,578
12,541
433,583
Depreciation charged in the year
29,817
33,973
891
64,681
At 31 January 2024
185,281
299,551
13,432
498,264
Carrying amount
At 31 January 2024
1,303,968
67,855
3,563
1,375,386
At 31 January 2023
1,227,903
79,089
4,454
1,311,446
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,411
2,101
Other debtors
3,409
3,447
Prepayments and accrued income
2,825
1,699
14,645
7,247
6
Current asset investments
2024
2023
£
£
Other investments
1,000
1,000
WESTCOUNTRY WATER GARDENS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
25,024
29,163
Trade creditors
187,592
140,078
Corporation tax
30,521
21,087
Other taxation and social security
52,625
63,559
Other creditors
130,938
120,853
Accruals and deferred income
153,000
152,625
579,700
527,365

Bank loans and overdrafts are secured by fixed and floating charges over the assets of the company.

8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
338,426
359,311
Other borrowings
185,908
361,472
524,334
720,783

Bank loans and overdrafts are secured by fixed and floating charges over the assets of the company.

9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
79,854
43,493
10
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
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