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Registration number: SC669946

Rock Your Garden Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Rock Your Garden Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Rock Your Garden Ltd

Company Information

Director

Mr L McIlduff

Registered office

 

Helenslea Cottage
Bathgate Road
Blackburn
West Lothian
EH47 7LW

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Rock Your Garden Ltd

(Registration number: SC669946)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,576

2,931

Current assets

 

Stocks

5

800

750

Debtors

6

117

81

Cash at bank and in hand

 

1,730

2,022

 

2,647

2,853

Creditors: Amounts falling due within one year

7

(14,743)

(8,596)

Net current liabilities

 

(12,096)

(5,743)

Total assets less current liabilities

 

(10,520)

(2,812)

Provisions for liabilities

487

487

Net liabilities

 

(10,033)

(2,325)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(10,034)

(2,326)

Shareholders' deficit

 

(10,033)

(2,325)

 

Rock Your Garden Ltd

(Registration number: SC669946)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 October 2024
 

.........................................
Mr L McIlduff
Director

 

Rock Your Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Helenslea Cottage
Bathgate Road
Blackburn
West Lothian
EH47 7LW

These financial statements were authorised for issue by the director on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared on a going concern basis as the director has undertaken to support the company until profitability can be achieved.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from the manufacture of other articles of concrete, plaster and cement. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

Rock Your Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Tax

The tax expense for the period comprises tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other tangible assets

25%, straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Rock Your Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

5,422

5,422

At 31 August 2023

5,422

5,422

Depreciation

At 1 September 2022

2,491

2,491

Charge for the year

1,355

1,355

At 31 August 2023

3,846

3,846

Carrying amount

At 31 August 2023

1,576

1,576

At 31 August 2022

2,931

2,931

5

Stocks

2023
£

2022
£

Stock

800

750

 

Rock Your Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Debtors

2023
£

2022
£

Prepayments

117

81

117

81

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,230

1,200

Other creditors

13,513

7,396

14,743

8,596

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Related party transactions

The company operates a loan account with the director, Mr L McIlduff.
During the year, the director advanced loans totalling £6,117 to the company. At the year end, the balance due to the director was £13,513 (2022 - £7,396). This loan is unsecured, interest free and has no fixed repayment terms.