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Registration number: 04910789

Wessex Gardeners Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Wessex Gardeners Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Wessex Gardeners Limited

Company Information

Directors

Mrs V Duignan

Mr K Duignan

Mr L Duignan

Company secretary

Mrs V Duignan

Registered office

Homeleigh West End Road
Bursledon
Southampton
Hampshire
SO31 8BN

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Wessex Gardeners Limited

(Registration number: 04910789)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

53,610

59,578

Current assets

 

Stocks

6

1,500

2,520

Debtors

7

85,413

37,350

Cash at bank and in hand

 

7,954

64,868

 

94,867

104,738

Creditors: Amounts falling due within one year

8

(39,257)

(48,173)

Net current assets

 

55,610

56,565

Total assets less current liabilities

 

109,220

116,143

Provisions for liabilities

(12,163)

(13,612)

Net assets

 

97,057

102,531

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

96,957

102,431

Shareholders' funds

 

97,057

102,531

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

 

Wessex Gardeners Limited

(Registration number: 04910789)
Balance Sheet as at 30 September 2024 (continued)

.........................................
Mr K Duignan
Director

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Homeleigh West End Road
Bursledon
Southampton
Hampshire
SO31 8BN

These financial statements were authorised for issue by the Board on 25 June 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 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 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.

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 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.

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 Machinery

15% Reducing Balance

Motor Vehicles

15% Reducing Balance

Computer Equipment

33% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

48,108

48,108

At 30 September 2024

48,108

48,108

Amortisation

At 1 October 2023

48,108

48,108

At 30 September 2024

48,108

48,108

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

74,668

3,769

65,371

143,808

Additions

5,388

-

-

5,388

At 30 September 2024

80,056

3,769

65,371

149,196

Depreciation

At 1 October 2023

46,268

3,102

34,860

84,230

Charge for the year

4,799

220

6,337

11,356

At 30 September 2024

51,067

3,322

41,197

95,586

Carrying amount

At 30 September 2024

28,989

447

24,174

53,610

At 30 September 2023

28,400

667

30,511

59,578

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Stocks

2024
£

2023
£

Other inventories

1,500

2,520

7

Debtors

Current

2024
£

2023
£

Trade debtors

48,439

35,451

Prepayments

1,975

1,899

Other debtors

34,999

-

 

85,413

37,350

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

39,257

39,786

Other creditors

-

8,387

39,257

48,173

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Dividends

2024

2023

£

£

Interim dividend of £770.00 (2023 - £515.00) per ordinary share

77,000

52,000

 

 

11

Related party transactions

 

Wessex Gardeners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

11

Related party transactions (continued)

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 30 September 2024
£

Mr K Duignan

The loans are interest free with no fixed date of repayment.

(349)

18,076

(3,500)

-

14,227

Mr L Duignan

The loans are interest free with no fixed date of repayment.

(6,772)

34,904

(20,000)

-

8,132

Mrs V Duignan

The loans are interest free with no fixed date of repayment.

(1,266)

17,500

(3,500)

(96)

12,638

12

Non adjusting events after the financial period

After the balance sheet date, the company resolved to write off an amount of £20,865 owing from directors, which was included within other debtors at the year-end. This write-off represents a non-adjusting post balance sheet event, as the decision to forgive the loan was made after the reporting date.

The financial effect of this event is a reduction in expected recoverable amounts from directors. The write-off may have tax implications and will be recognised in the following financial year.