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REGISTERED NUMBER: 05994722 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SAPCOTE GARDEN CENTRE LIMITED

SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

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


SAPCOTE GARDEN CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: A Porwol





REGISTERED OFFICE: Sapcote Garden Centre
Hinckley Road
Sapcote
Leicester
LE9 4LG





REGISTERED NUMBER: 05994722 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,611 7,389
Tangible assets 5 1,499,507 1,513,027
1,506,118 1,520,416

CURRENT ASSETS
Stocks 2,209,257 2,966,446
Debtors 6 5,360 83,085
Cash at bank and in hand 61,283 130,626
2,275,900 3,180,157
CREDITORS
Amounts falling due within one year 7 1,364,325 2,129,292
NET CURRENT ASSETS 911,575 1,050,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,417,693

2,571,281

CREDITORS
Amounts falling due after more than one
year

8

(299,394

)

(476,562

)

PROVISIONS FOR LIABILITIES 12 (340,668 ) (341,368 )
NET ASSETS 1,777,631 1,753,351

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,776,631 1,752,351
1,777,631 1,753,351

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





A Porwol - Director


SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

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


1. STATUTORY INFORMATION

Sapcote Garden Centre 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

Sales of goods are recognised on sale to the customer, which is considered to be the point of delivery and when the significant risks and rewards of the goods have been passed to the customer. Retail sales are usually by cash, credit or payment card.

Goodwill
The goodwill is the original cost on the acquisition of the unincorporated buisness, and has been transferred at the value into the company. It will be written off in equal annual instalments over its estimated useful economic life of 20 years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land and buildings - No depreciation
Integral features - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stocks are recognized as an expense in the period in which the related revenue is recognized.

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition

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.

SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 93 (2023 - 92 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 15,557
AMORTISATION
At 1 October 2023 8,168
Amortisation for year 778
At 30 September 2024 8,946
NET BOOK VALUE
At 30 September 2024 6,611
At 30 September 2023 7,389

5. TANGIBLE FIXED ASSETS
Freehold
land and Integral Plant and
buildings features machinery
£    £    £   
COST
At 1 October 2023 86,230 130,711 2,155,241
Additions - - 114,434
Disposals - - -
At 30 September 2024 86,230 130,711 2,269,675
DEPRECIATION
At 1 October 2023 - 67,186 879,989
Charge for year - 6,353 131,654
Eliminated on disposal - - -
At 30 September 2024 - 73,539 1,011,643
NET BOOK VALUE
At 30 September 2024 86,230 57,172 1,258,032
At 30 September 2023 86,230 63,525 1,275,252

SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

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


5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2023 28,988 130,324 2,531,494
Additions - 37,120 151,554
Disposals - (2,500 ) (2,500 )
At 30 September 2024 28,988 164,944 2,680,548
DEPRECIATION
At 1 October 2023 22,652 48,640 1,018,467
Charge for year 951 24,710 163,668
Eliminated on disposal - (1,094 ) (1,094 )
At 30 September 2024 23,603 72,256 1,181,041
NET BOOK VALUE
At 30 September 2024 5,385 92,688 1,499,507
At 30 September 2023 6,336 81,684 1,513,027

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 94,314
DEPRECIATION
At 1 October 2023 41,263
Charge for year 13,263
At 30 September 2024 54,526
NET BOOK VALUE
At 30 September 2024 39,788
At 30 September 2023 53,051

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,360 83,085

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 41,773 46,410
Hire purchase contracts (see note 10) 16,637 14,859
Trade creditors 451,820 861,108
Taxation and social security 566,220 813,971
Other creditors 287,875 392,944
1,364,325 2,129,292

SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 111,645 129,716
Hire purchase contracts (see note 10) 33,635 51,140
Other creditors 154,114 295,706
299,394 476,562

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year 41,773 46,410
Other loans 141,593 141,385
183,366 187,795

Amounts falling due between one and two years:
Bank loans 37,710 46,410
Other loans - 1-2 years 48,599 141,592
86,309 188,002

Amounts falling due between two and five years:
Bank loans - 2-5 years 73,935 83,306
Other loans - 2-5 years 105,515 154,114
179,450 237,420

A bank loan is supported and guaranteed by the UK Government's Bounce Back Loan Scheme (BBLS). Interest is charged at a fixed rate of 2.5% and the balance is repayable over 60 months which commenced in June 2021.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 16,637 14,859
Between one and five years 33,635 51,140
50,272 65,999

Non-cancellable operating leases
2024 2023
£    £   
Within one year 24,712 37,583
Between one and five years - 24,712
24,712 62,295

SAPCOTE GARDEN CENTRE LIMITED (REGISTERED NUMBER: 05994722)

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


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 295,707 437,091
Hire purchase contracts 50,272 -
345,979 437,091

The other loans have interest ranging from 11.90% to 22.57%. These other loans are secured against the fixed assets to which they have been used to acquire.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 340,668 341,368

Deferred
tax
£   
Balance at 1 October 2023 341,368
Credit to Income Statement during year (700 )
Balance at 30 September 2024 340,668

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
A Porwol
Balance outstanding at start of year - 227,336
Amounts advanced 356,314 206,538
Amounts repaid (356,314 ) (433,874 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

During the year, the company charged the Director interest on the loan totalling £2,993 (2023: £5,409).

14. ULTIMATE CONTROLLING PARTY

The controlling party is A Porwol.