REGISTERED NUMBER: 01462426 (England and Wales)

Financial Statements for the Year Ended 30 September 2024

for

TILDENET GARDENWARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P E James

A J Downey

P R Morgan

REGISTERED OFFICE:

Journal House

Bristol Vale Trading Estate

Hartcliffe Way

Bristol

BS3 5RJ

REGISTERED NUMBER:

01462426 (England and Wales)

AUDITORS:

Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

FIXED ASSETS

Tangible assets

4

285,657

288,302

CURRENT ASSETS

Stocks

1,953,092

2,002,201

Debtors

5

835,018

806,819

Cash at bank

228,231

147,303

3,016,341

2,956,323

CREDITORS

Amounts falling due within one year

6

1,103,777

1,099,347

NET CURRENT ASSETS

1,912,564

1,856,976

TOTAL ASSETS LESS CURRENT LIABILITIES

2,198,221

2,145,278

CREDITORS

Amounts falling due after more than one year

7

-

(1,407

)

PROVISIONS FOR LIABILITIES

8

(64,609

)

(64,609

)

NET ASSETS

2,133,612

2,079,262

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

2,133,512

2,079,162

SHAREHOLDERS' FUNDS

2,133,612

2,079,262

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:

A J Downey - Director

1.	STATUTORY INFORMATION

Tildenet Gardenware 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.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

The Company has transferred the significant risks and rewards of ownership to the buyer;

-

The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

The amount of revenue can be measured reliably;

-

It is probable that the Company will receive the consideration due under the transaction; and

-

The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold

-

20% on cost

Plant and Machinery

-

20% Straight line

Fixtures and fittings

-

20-33% Straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases: the company as a lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a

straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a

straight line basis over the lease term, unless another systematic basis is representative of the time

pattern of the lessee's benefit from the use of the leased asset.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the

contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when

they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets

of the plan are held separately from the Company in independently administered funds.

Critical accounting judgements and key sources of estimation uncertainty

In preparing these financial statements the Directors have made judgements as to the value of stock and trade debtors in estimating stock and bad debt provisions. No other significant judgement or assumptions have had to be made.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

Machinery

fittings

Totals

£

£

£

£

COST

At 1 October 2023

153,233

90,158

600,430

843,821

Additions

1,860

25,343

107,599

134,802

Disposals

-

-

(250,000

)

(250,000

)

At 30 September 2024

155,093

115,501

458,029

728,623

DEPRECIATION

At 1 October 2023

50,363

51,220

453,936

555,519

Charge for year

29,711

18,173

89,563

137,447

Eliminated on disposal

-

-

(250,000

)

(250,000

)

At 30 September 2024

80,074

69,393

293,499

442,966

NET BOOK VALUE

At 30 September 2024

75,019

46,108

164,530

285,657

At 30 September 2023

102,870

38,938

146,494

288,302

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

716,633

683,913

Amounts owed by group undertakings

167

167

Other debtors

118,218

122,739

835,018

806,819

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

1,407

5,630

Trade creditors

294,375

226,095

Amounts owed to group undertakings

299,585

419,530

Taxation and social security

116,889

98,899

Other creditors

391,521

349,193

1,103,777

1,099,347

The hire purchase liabilities are secured against the assets to which they relate.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

1,407

The hire purchase liabilities are secured against the assets to which they relate.

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

64,609

64,609

Deferred

tax

£

Balance at 1 October 2023

64,609

Accelerated Capital Allowances

Balance at 30 September 2024

64,609

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Catherine Edwards BSc FCA (Senior Statutory Auditor)

for and on behalf of Richardson Swift Audit Ltd

11.	CONTINGENT LIABILITIES

The company is a member of the Tildenet Holdings group VAT registration and is jointly and severally liable for the group liability. The total group VAT liability as at 30 September 2024 was £328,959 (2023: £270,605).

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	PARENT COMPANY

The parent company is Tildenet Holdings Limited.

14.	OPERATING LEASE COMMITMENT

At the year end, the total of future minimum lease payments under non-cancellable operating leases was £200,482 (2023: £311,181).