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Registered number: 12624182
Bristol Artificial Grass Company Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12624182
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,460 4,920
Tangible Assets 5 35,575 46,281
Investments 6 50 50
38,085 51,251
CURRENT ASSETS
Stocks 7 625 850
Debtors 8 126,947 61,012
Cash at bank and in hand 8,150 42,374
135,722 104,236
Creditors: Amounts Falling Due Within One Year 9 (80,034 ) (33,618 )
NET CURRENT ASSETS (LIABILITIES) 55,688 70,618
TOTAL ASSETS LESS CURRENT LIABILITIES 93,773 121,869
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,893 ) (11,570 )
NET ASSETS 84,880 110,299
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 84,780 110,199
SHAREHOLDERS' FUNDS 84,880 110,299
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Britton
Director
15 November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bristol Artificial Grass Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12624182 . The registered office is Gowran House, 56 Broad Street Chipping Sodbury, Chipping Sodbury, Bristol, BS37 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 12,300
As at 31 March 2024 12,300
Amortisation
As at 1 April 2023 7,380
Provided during the period 2,460
As at 31 March 2024 9,840
Net Book Value
As at 31 March 2024 2,460
As at 1 April 2023 4,920
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 8,203 72,469 80,672
Additions 1,152 - 1,152
As at 31 March 2024 9,355 72,469 81,824
Depreciation
As at 1 April 2023 4,372 30,019 34,391
Provided during the period 1,245 10,613 11,858
As at 31 March 2024 5,617 40,632 46,249
...CONTINUED
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Net Book Value
As at 31 March 2024 3,738 31,837 35,575
As at 1 April 2023 3,831 42,450 46,281
6. Investments
Unlisted
£
Cost
As at 1 April 2023 50
As at 31 March 2024 50
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 50
As at 1 April 2023 50
7. Stocks
2024 2023
£ £
Stock 625 850
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,397 43,309
VAT - 317
Director's loan account 89,550 17,386
126,947 61,012
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Page 6
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,655 6,424
Corporation tax 43,815 23,947
Other taxes and social security 144 75
VAT 11,650 -
Accruals and deferred income 12,770 3,172
80,034 33,618
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Ricky Britton 17,386 72,164 - - 89,550
The above loan has been repaid within 9 months from the balance sheet date.
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