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Registration number: 11887672

Your Garden Creations Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Your Garden Creations Ltd

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,575

31,350

Current assets

 

Debtors

5

2,475

11,282

Cash at bank and in hand

 

17,012

7,679

 

19,487

18,961

Creditors: Amounts falling due within one year

6

(21,788)

(8,796)

Net current (liabilities)/assets

 

(2,301)

10,165

Total assets less current liabilities

 

37,274

41,515

Creditors: Amounts falling due after more than one year

6

(17,483)

(12,858)

Provisions for liabilities

(7,519)

-

Net assets

 

12,272

28,657

Capital and reserves

 

Called up share capital

100

100

Retained earnings

12,172

28,557

Shareholders' funds

 

12,272

28,657

For the financial year ending 31 March 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.

 

Your Garden Creations Ltd

Statement of Financial Position as at 31 March 2024

Approved and authorised by the director on 26 March 2025
 

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

Jack Kent

Director

Company registration number: 11887672

 

Your Garden Creations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
7 Meadowside Cottages
Lower Platts
Ticehurst
East Sussex
TN5 7DA

The principal activity of the company is that of landscaping.

2

Accounting policies

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.

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, unless otherwise stated.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date of £19,791 including cash at bank amounting to £17,012. The company continues to trade profitably.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

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 value added tax, returns, rebates and discounts.

The company recognises revenue from services over the period in which the services are provided and from the
sale of materials on the date the goods are delivered to customers.

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.

 

Your Garden Creations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

4 years straight line

Plant and machinery

4 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.

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.

 

Your Garden Creations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Finance 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. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 during the year, was 0 (2023 - 0).

 

Your Garden Creations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

41,800

-

41,800

Additions

-

20,882

20,882

At 31 March 2024

41,800

20,882

62,682

Depreciation

At 1 April 2023

10,450

-

10,450

Charge for the year

10,450

2,207

12,657

At 31 March 2024

20,900

2,207

23,107

Carrying amount

At 31 March 2024

20,900

18,675

39,575

At 31 March 2023

31,350

-

31,350

5

Debtors

2024
£

2023
£

Other debtors

2,475

11,282

2,475

11,282

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

7

10,751

4,541

Taxation and social security

 

9,137

2,755

Accruals and deferred income

 

1,900

1,500

 

21,788

8,796

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

17,483

12,858

 

Your Garden Creations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank loan

4,601

4,541

Hire purchase obligations

6,150

-

10,751

4,541

Non-current loans and borrowings

2024
£

2023
£

Bank loan

8,258

12,858

Hire purchase obligations

9,225

-

17,483

12,858

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

8

Transactions with directors

At 31st March 2024 an amount of £544 (2023: £9,351) was due from the director. During the year, there were advances of £48,627 and repayments of £57,703. Interest of £269 (2023: £NIL) is payable to the company at 2.25% per annum. There are no set terms in place.