REGISTERED NUMBER: 00403938 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RUSSELLS GARDEN CENTRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J Phillips

SECRETARY:

R J Phillips

REGISTERED OFFICE:

Main Road

Birdham

Chichester

West Sussex

PO20 7BY

REGISTERED NUMBER:

00403938 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

BANKERS:

National Westminster Bank plc

5 East Street

Chichester

West Sussex

PO19 1HH

FIXED ASSETS

Tangible assets

4

699

13,623

CURRENT ASSETS

Stocks

94,212

118,371

Debtors

5

4,989

11,342

Cash at bank and in hand

38,110

63,930

137,311

193,643

CREDITORS

Amounts falling due within one year

6

140,380

131,657

NET CURRENT (LIABILITIES)/ASSETS

(3,069

)

61,986

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,370

)

75,609

CREDITORS

Amounts falling due after more than one year

7

5,286

14,167

NET (LIABILITIES)/ASSETS

(7,656

)

61,442

CAPITAL AND RESERVES

Called up share capital

8,913

8,913

Share premium

32,887

32,887

Retained earnings

(49,456

)

19,642

SHAREHOLDERS' FUNDS

(7,656

)

61,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 10 September 2025 and were signed by:

R J Phillips - Director

1.	STATUTORY INFORMATION

Russells Garden Centre Ltd 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.

The financial statements are presented in sterling (£), which is rounded to the nearest pound (£).

Going Concern

The company ceased trading on the 19 June 2025, the directors intention is to maintain the company as a non-trading or dormant entity for the time being. Therefore these financial statements have been prepared on a basis other than that of a going concern. No provisions for the future costs of terminating the business have been made other than those relating to costs committed to as at the year end.

Turnover

Revenue is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer and the amount of revenue can be measured reliably. Revenue is recorded net of returns, discounts, offers and value added tax.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property lease

Improvements to property

-

10% on reducing balance

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are initially measured at cost and are subsequently measured at cost net of depreciation and any impairment losses.

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

Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognized at amortized cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Leasing commitments

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Short

Improvements

Plant and

leasehold

to property

machinery

£

£

£

COST

At 1 January 2024

75,241

70,422

6,588

Disposals

-

-

(5,956

)

At 31 December 2024

75,241

70,422

632

DEPRECIATION

At 1 January 2024

75,241

61,049

4,080

Charge for year

-

9,373

251

Eliminated on disposal

-

-

(4,133

)

At 31 December 2024

75,241

70,422

198

NET BOOK VALUE

At 31 December 2024

-

-

434

At 31 December 2023

-

9,373

2,508

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

6,634

13,450

5,883

178,218

Disposals

(6,634

)

-

(5,209

)

(17,799

)

At 31 December 2024

-

13,450

674

160,419

DEPRECIATION

At 1 January 2024

6,477

13,450

4,298

164,595

Charge for year

40

-

726

10,390

Eliminated on disposal

(6,517

)

-

(4,615

)

(15,265

)

At 31 December 2024

-

13,450

409

159,720

NET BOOK VALUE

At 31 December 2024

-

-

265

699

At 31 December 2023

157

-

1,585

13,623

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

4,989

11,342

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,369

10,059

Trade creditors

102,266

95,754

Taxation and social security

14,624

9,185

Other creditors

13,121

16,659

140,380

131,657

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,286

14,167

8.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £7,141 (2023: £15,710)

9.	RELATED PARTY DISCLOSURES

The company occupies property which sits on land owned by the directors. There is no formal lease agreement in place. During the year under review the company paid £Nil (2023: £3,000) in respect of rent.