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WHEELBARROW GARDENING LIMITED

Registered Number
07316888
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

WHEELBARROW GARDENING LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

Mrs. J Hawkes
Mr. D I Hawkes

Registered Address

79 Higher Bore Street
Bodmin
PL31 1JT

Registered Number

07316888 (England and Wales)
WHEELBARROW GARDENING LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3221,254247,566
221,254247,566
Current assets
Stocks4-500
Debtors5-42,636
Cash at bank and on hand18,71843,696
18,71886,832
Creditors amounts falling due within one year6(63,423)(95,733)
Net current assets (liabilities)(44,705)(8,901)
Total assets less current liabilities176,549238,665
Creditors amounts falling due after one year7-(28,910)
Provisions for liabilities9(240)(8,384)
Net assets176,309201,371
Capital and reserves
Called up share capital22
Profit and loss account176,307201,369
Shareholders' funds176,309201,371
The financial statements were approved and authorised for issue by the Board of Directors on 25 November 2024, and are signed on its behalf by:
Mr. D I Hawkes
Director
Registered Company No. 07316888
WHEELBARROW GARDENING LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on the going concern basis, on the assumption that the company will continue to trade for the foreseeable future, despite it having net current liabilities of £8,901 (2022 - £22,881) as at the balance sheet date. The directors consider the going concern basis to be appropriate as, in her opinion, the company will be able to secure sufficient funding to enable it to pay its debts as they fall due.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and net realizable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Vehicles

Total

£££
Cost or valuation
At 01 September 23203,44171,798275,239
Disposals-(41,798)(41,798)
At 31 August 24203,44130,000233,441
Depreciation and impairment
At 01 September 23-27,67327,673
Charge for year-6,3586,358
On disposals-(21,844)(21,844)
At 31 August 24-12,18712,187
Net book value
At 31 August 24203,44117,813221,254
At 31 August 23203,44144,125247,566
4.Stocks

2024

2023

££
Other stocks-500
Total-500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-59
Other debtors-42,577
Total-42,636
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,170929
Bank borrowings and overdrafts-14,290
Taxation and social security6810,149
Finance lease and HP contracts-6,043
Other creditors37,59631,750
Accrued liabilities and deferred income24,58932,572
Total63,42395,733
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-2,862
Other creditors-26,048
Total-28,910
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-26,048
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2408,384
Total2408,384