Registered number
13965992
Mustard Seed Gardens Ltd
Unaudited Filleted Accounts
31 March 2024
Mustard Seed Gardens Ltd
Registered number: 13965992
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,100 11,300
Tangible assets 4 66,447 69,250
76,547 80,550
Current assets
Stocks 36,749 20,467
Debtors 5 90,920 196,726
Cash at bank and in hand 5,618 12,966
133,287 230,159
Creditors: amounts falling due within one year 6 (155,738) (225,041)
Net current (liabilities)/assets (22,451) 5,118
Total assets less current liabilities 54,096 85,668
Creditors: amounts falling due after more than one year 7 (25,854) (60,869)
Provisions for liabilities (5,826) (13,160)
Net assets 22,416 11,639
Capital and reserves
Called up share capital 1 1
Profit and loss account 22,415 11,638
Shareholder's funds 22,416 11,639
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Myers
Director
Approved by the board on 27 January 2025
Mustard Seed Gardens Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 3 years
Plant and machinery over 10 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 12,000
At 31 March 2024 12,000
Amortisation
At 1 April 2023 700
Provided during the year 1,200
At 31 March 2024 1,900
Net book value
At 31 March 2024 10,100
At 31 March 2023 11,300
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office Equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 1,146 26,462 52,000 79,608
Additions - 2,999 12,489 15,488
At 31 March 2024 1,146 29,461 64,489 95,096
Depreciation
At 1 April 2023 223 2,552 7,583 10,358
Charge for the year 382 2,671 15,238 18,291
At 31 March 2024 605 5,223 22,821 28,649
Net book value
At 31 March 2024 541 24,238 41,668 66,447
At 31 March 2023 923 23,910 44,417 69,250
5 Debtors 2024 2023
£ £
Trade debtors 90,920 196,726
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,809 5,903
Obligations under finance lease and hire purchase contracts 32,664 12,614
Trade creditors 35,717 33,062
Taxation and social security costs 75,383 20,881
Other creditors 1,165 152,581
155,738 225,041
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,854 36,400
Obligations under finance lease and hire purchase contracts - 24,469
25,854 60,869
8 Other information
Mustard Seed Gardens Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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