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Registration number: 04690290

Solent Garden Services Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Solent Garden Services Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Solent Garden Services Ltd

Company Information

Director

R J Woodhouse

Registered office

1 Grantham Avenue
Hamble
Southampton
Hampshire
SO31 4JX

Accountants

Keith Powers FCA
Chartered Accountant51 Burridge Road
Southampton
SO31 1BY

 

Solent Garden Services Ltd

(Registration number: 04690290)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,978

10,762

Investment property

86,700

86,700

 

93,678

97,462

Current assets

 

Stocks

5

10,800

10,800

Debtors

14,197

11,770

Cash at bank and in hand

 

1,226

5,320

 

26,223

27,890

Creditors: Amounts falling due within one year

(22,648)

(18,656)

Net current assets

 

3,575

9,234

Total assets less current liabilities

 

97,253

106,696

Creditors: Amounts falling due after more than one year

(32,026)

(35,258)

Provisions for liabilities

(6,204)

(6,204)

Accruals and deferred income

 

(17,678)

(9,488)

Net assets

 

41,345

55,746

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

41,245

55,646

Shareholders' funds

 

41,345

55,746

For the financial year ending 30 April 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Solent Garden Services Ltd

(Registration number: 04690290)
Abridged Balance Sheet as at 30 April 2024

These financial statements have been prepared and 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 10 January 2025
 

.........................................
R J Woodhouse
Director

 

Solent Garden Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 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 Grantham Avenue
Hamble
Southampton
Hampshire
SO31 4JX

These financial statements were authorised for issue by the director on 10 January 2025.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Solent Garden Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

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

Plant and equipment

15% reducing balance

Vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Solent Garden Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 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 profit and loss account 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Solent Garden Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

13,000

8,700

42,100

63,800

Additions

-

2,000

645

2,645

Disposals

(13,000)

-

(16,455)

(29,455)

At 30 April 2024

-

10,700

26,290

36,990

Depreciation

At 1 May 2023

13,000

5,825

34,213

53,038

Charge for the year

-

2,675

3,754

6,429

Eliminated on disposal

(13,000)

-

(16,455)

(29,455)

At 30 April 2024

-

8,500

21,512

30,012

Carrying amount

At 30 April 2024

-

2,200

4,778

6,978

At 30 April 2023

-

2,875

7,887

10,762

Investment properties

2024
£

At 1 May

86,700

In the opinion of the director, the investment property is valued at Euro 120,000.

There has been no valuation of investment property by an independent valuer.

5

Stocks

2024
£

2023
£

Other inventories

10,800

10,800

 

Solent Garden Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Related party transactions

The company is under the control of the director, RJ Woodhouse.

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

8,596

7,089

Summary of transactions with other related parties

Included in Other Borrowings is a loan from the directors of £23,000 (2022: £25,274). The loan is unsecured, free of interest and has no fixed terms of repayment. The director has given an undertaking not to require repayment of the loan until such time as the financial position of the company permits.

Except as disclosed elsewhere in these accounts, there were no transactions with related parties requiring disclosure in terms of S1a of FRS102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, or the Companies Act, 2006.