IRIS Accounts Production v24.3.2.46 01286300 Board of Directors 1.10.23 30.9.24 30.9.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh012863002023-09-30012863002024-09-30012863002023-10-012024-09-30012863002022-09-30012863002022-10-012023-09-30012863002023-09-3001286300ns15:EnglandWales2023-10-012024-09-3001286300ns14:PoundSterling2023-10-012024-09-3001286300ns10:Director12023-10-012024-09-3001286300ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3001286300ns10:SmallEntities2023-10-012024-09-3001286300ns10:AuditExemptWithAccountantsReport2023-10-012024-09-3001286300ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3001286300ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3001286300ns10:FullAccounts2023-10-012024-09-3001286300ns10:Director22023-10-012024-09-3001286300ns10:Director32023-10-012024-09-3001286300ns10:CompanySecretary12023-10-012024-09-3001286300ns10:RegisteredOffice2023-10-012024-09-3001286300ns5:CurrentFinancialInstruments2024-09-3001286300ns5:CurrentFinancialInstruments2023-09-3001286300ns5:ShareCapital2024-09-3001286300ns5:ShareCapital2023-09-3001286300ns5:FurtherSpecificReserve3ComponentTotalEquity2024-09-3001286300ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-3001286300ns5:RetainedEarningsAccumulatedLosses2024-09-3001286300ns5:RetainedEarningsAccumulatedLosses2023-09-3001286300ns5:PlantMachinery2023-10-012024-09-3001286300ns5:PlantMachinery2023-09-3001286300ns5:PlantMachinery2024-09-3001286300ns5:PlantMachinery2023-09-3001286300ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3001286300ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3001286300ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-30
REGISTERED NUMBER: 01286300 (England and Wales)















MANSI GARDEN CENTRES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






MANSI GARDEN CENTRES LIMITED (REGISTERED NUMBER: 01286300)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

MANSI GARDEN CENTRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: J S Hunt
N J Mansi
B M Mansi





SECRETARY: B M Mansi





REGISTERED OFFICE: c/o Cox Costello & Horne
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ





REGISTERED NUMBER: 01286300 (England and Wales)





ACCOUNTANTS: Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ

MANSI GARDEN CENTRES LIMITED (REGISTERED NUMBER: 01286300)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 176 220
Investment property 5 750,000 750,000
750,176 750,220

CURRENT ASSETS
Debtors 6 1,037 586
Cash at bank 4,198 14,586
5,235 15,172
CREDITORS
Amounts falling due within one year 7 46,220 41,459
NET CURRENT LIABILITIES (40,985 ) (26,287 )
TOTAL ASSETS LESS CURRENT LIABILITIES 709,191 723,933

PROVISIONS FOR LIABILITIES 114,667 114,667
NET ASSETS 594,524 609,266

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 8 488,845 488,845
Retained earnings 104,679 119,421
SHAREHOLDERS' FUNDS 594,524 609,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:





N J Mansi - Director


MANSI GARDEN CENTRES LIMITED (REGISTERED NUMBER: 01286300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Mansi Garden Centres Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 as modified by the revaluation of certain assets.

Going concern basis
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover includes rental income, and service and management charges from properties.

Rental income from operating leases is recognised on a straight-line basis over the lease term. When the company provides incentives to its tenants, the cost of incentives is recognised over the lease term, on a straight-line basis, as a reduction of rental income.

Service and management charges are recognised in the accounting period in which the services are rendered.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property
Investment property consist of residential property held for long-term rental yields or for capital appreciation or both, and not held for the social benefit or for use in the business. Investment property is measured at cost, including related transaction costs, on initial recognition and subsequently at fair value as at the year end, with changes in fair value recognised in profit and loss. Subsequent expenditure is capitalised to the asset's carrying value only when it is probable that future economic benefits associated with the expenditure will flow to the company. All other repairs and maintenance costs are expensed when incurred. Fair value is determined by either independent professional third party valuers or company officers, such as the directors. Depreciation is not provided in respect of the investment property. Fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions.

MANSI GARDEN CENTRES LIMITED (REGISTERED NUMBER: 01286300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank
Cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
-the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Leased assets: lessor
Leases are treated as operating leases. Their annual rentals are credited to the profit and loss account on a straight-line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

MANSI GARDEN CENTRES LIMITED (REGISTERED NUMBER: 01286300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 October 2023
and 30 September 2024 18,441
DEPRECIATION
At 1 October 2023 18,221
Charge for year 44
At 30 September 2024 18,265
NET BOOK VALUE
At 30 September 2024 176
At 30 September 2023 220

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 October 2023
and 30 September 2024 750,000
NET BOOK VALUE
At 30 September 2024 750,000
At 30 September 2023 750,000

Fair value at 30 September 2024 is represented by:
£
Valuation in 2022 603,512
Cost 146,488
750,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£ £
Cost 146,488 146,488
Aggregate depreciation (140,628 ) (137,698 )

Investment property was valued on an informal open market basis on 30 September 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£ £
Trade debtors 1,037 -
Other debtors - 586
1,037 586

MANSI GARDEN CENTRES LIMITED (REGISTERED NUMBER: 01286300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£ £
Taxation and social security 6,137 8,904
Other creditors 40,083 32,555
46,220 41,459

8. RESERVES
Fair value
reserve
£
At 1 October 2023
and 30 September 2024 488,845

The fair value reserve comprises the movement on the revaluation of investment property and deferred tax recognised thereon.

9. RELATED PARTY DISCLOSURES

During the reporting period, total dividends of £40,900 (2023: £36,253) were paid to the directors.

At the reporting date, the company owed the directors £33,824 (2023: £27,270). The outstanding amount is unsecured, interest free, has no fixed terms of repayment and considered payable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MANSI GARDEN CENTRES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mansi Garden Centres Limited for the year ended 30 September 2024 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mansi Garden Centres Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mansi Garden Centres Limited and state those matters that we have agreed to state to the Board of Directors of Mansi Garden Centres Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mansi Garden Centres Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mansi Garden Centres Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mansi Garden Centres Limited. You consider that Mansi Garden Centres Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mansi Garden Centres Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ


19 February 2025