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Registered Number: 08888241
England and Wales

 

 

 

G M SHARP LANDSCAPES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 2,170    2,170 
Tangible fixed assets 4 119,910    120,407 
122,080    122,577 
Current assets      
Stocks 14,304    29,384 
Debtors 90,623    30,738 
Cash at bank and in hand   1,690 
104,927    61,812 
Creditors: amount falling due within one year (268,688)   (248,557)
Net current assets (163,761)   (186,745)
 
Total assets less current liabilities (41,681)   (64,168)
Creditors: amount falling due after more than one year (95,376)   (106,795)
Net assets (137,057)   (170,963)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (137,058)   (170,964)
Shareholders' funds (137,057)   (170,963)
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 November 2024 and were signed by:


-------------------------------
Jonathan Sharp
Director
1
General Information
G M Sharp Landscapes Ltd is a private company, limited by shares, registered in England and Wales, registration number 08888241, registration address 27 Brockley Road, Elsworth, Cambridge, CB23 4JS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Plant and Machinery 15% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 March 2023 8,000    2,170    10,170 
Additions    
Disposals    
At 29 February 2024 8,000    2,170    10,170 
Amortisation
At 01 March 2023 8,000      8,000 
Charge for year    
On disposals    
At 29 February 2024 8,000      8,000 
Net book values
At 29 February 2024   2,170    2,170 
At 28 February 2023   2,170    2,170 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 March 2023 50,895    137,484    188,379 
Additions 38,505      38,505 
Disposals (13,995)     (13,995)
At 29 February 2024 75,405    137,484    212,889 
Depreciation
At 01 March 2023 23,123    44,849    67,972 
Charge for year 12,649    23,160    35,809 
On disposals (10,802)     (10,802)
At 29 February 2024 24,970    68,009    92,979 
Net book values
Closing balance as at 29 February 2024 50,435    69,475    119,910 
Opening balance as at 01 March 2023 27,772    92,635    120,407 

The net book value of Plant and Machinery, Motor Vehicles includes £ 72,983 (2023 £105,184) in respect of assets leased under finance leases or hire purchase contracts.

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Mr J Sharp(50,428)(50,428)

At the year end, the director owed the company £50,428. Interest has been paid on this balance at 2.25%.
2