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Registration number: 04782100

David Stead Landscapes Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

David Stead Landscapes Limited

Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

46,903

29,015

Current assets

 

Debtors

6

33,677

94,388

Cash at bank and in hand

 

42,755

14,802

 

76,432

109,190

Creditors: Amounts falling due within one year

7

(67,037)

(93,282)

Net current assets

 

9,395

15,908

Total assets less current liabilities

 

56,298

44,923

Creditors: Amounts falling due after more than one year

7

(1,751)

(10,252)

Provisions for liabilities

(11,726)

(7,254)

Net assets

 

42,821

27,417

Capital and reserves

 

Called up share capital

1

1

Retained earnings

42,820

27,416

Shareholders' funds

 

42,821

27,417

 

David Stead Landscapes Limited

Statement of Financial Position as at 30 June 2024

For the financial year ending 30 June 2024 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 14 January 2025
 

.........................................

Mr D N J Stead

Director

Company registration number: 04782100

 

David Stead Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of landscape gardening.

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company continues to trade profitably and the director does not believe the current economic conditions or global conflicts will have a material effect on the company.

After making enquires, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has few fixed overheads and the director is able to exercise control over expenditure when activity levels fall.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns and discounts.

The company recognises turnover based upon the stage of completion of contracted work and upon finalisation of small works.

 

David Stead Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 statement of financial position 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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

over 5 years straight line

Motor vehicles

over 4 years straight line

Office equipment

over 3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

David Stead Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Operating leases and hire purchase

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at cost. The asset is then depreciated over its useful life. Future payments are apportioned between finance costs in the income statement and reduction of the liability so as to achieve a constant periodic rate of interest on the
remaining balance of the liability using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year was 5 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

9,485

3,839

 

David Stead Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Office equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 July 2023

3,367

14,750

21,957

40,074

Additions

-

26,915

458

27,373

At 30 June 2024

3,367

41,665

22,415

67,447

Depreciation

At 1 July 2023

2,828

5,532

2,699

11,059

Charge for the year

227

5,370

3,888

9,485

At 30 June 2024

3,055

10,902

6,587

20,544

Carrying amount

At 30 June 2024

312

30,763

15,828

46,903

At 30 June 2023

539

9,218

19,258

29,015

6

Debtors

2024
£

2023
£

Trade debtors

99

8,218

Other debtors

33,578

86,170

33,677

94,388

7

Creditors

Note

2024
£

2023
£

Loans and borrowings

8

8,501

8,501

Trade creditors

 

13,493

32,170

Taxation and social security

 

35,734

34,373

Other creditors

 

9,309

18,238

 

67,037

93,282

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

1,751

10,252

 

David Stead Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchase agreements

8,501

8,501

Non-current loans and borrowings

2024
£

2023
£

Hire purchase agreements

1,751

10,252

Obligations under hire purchase agreements are secured on the assets involved.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of commitments under non-cancellable operating leases not included in the statement of financial position is £Nil (2023 - £931).

10

Director's advances, credits and guarantees

At 30 June 2024 an amount of £4,845 (2023: £8,378) was due from the director. During the year, there were advances of £68,412 and repayments of £72,209. Interest of £264 (2023: £901) has been charged at 2.25% per annum. There are no set terms in place.