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GARDEN CENTRE OVERSTRAND LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Registered number: 10081332
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GARDEN CENTRE OVERSTRAND LIMITED
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ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GARDEN CENTRE OVERSTRAND LIMITED
This report is made to the Company's Board of Directors in accordance with the terms of our engagement.
We have prepared the financial statements of the company, which comprise the Statement of Comprehensive Income, the Balance Sheet and related notes (pages 3 to 7) from the accounting records and information and explanations you have provided.
The Company is exempt from an audit for the period ended 31 December 2024. You have acknowledged, on the Balance Sheet, your responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006, and for preparing financial statements which give a true and fair view of the state of affairs of the company and of its profit or loss for the financial period.
We have not carried out an audit, and consequently we do not express any audit opinion on these financial statements.
Tony Larner
Chartered Certified Accountants
23 Station Road
Sheringham
Norfolk
NR26 8RF
26 September 2025
Page 1
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GARDEN CENTRE OVERSTRAND LIMITED
REGISTERED NUMBER:10081332
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ABRIDGED BALANCE SHEET
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 2
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GARDEN CENTRE OVERSTRAND LIMITED
REGISTERED NUMBER:10081332
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ABRIDGED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements. The members have agreed to the preparation of abridged accounts for the accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The abridged financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.
The notes on pages 4 to 7 form part of these abridged financial statements.
Page 3
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GARDEN CENTRE OVERSTRAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Garden Centre Overstrand Limited is a private company, limited by shares, domiciled in England and Wales, registration number 10081332. The company's principal place of business is 6 Mundesley Road, Overstrand, Norfolk, NR27 0PU.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company from the sale of garden centre plants and goods excluding Value Added Tax.
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. Goodwill is measured at cost less accumulated amortisation and any accumulated impairment losses. Goodwill has previously been amortised on a straight-line basis over its estimated useful life of ten years. The useful life is assessed at each reporting date and following the decision to cease trading operations, and close the garden centre on 6 September 2024 the carrying value of goodwill has been fully impaired at the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Freehold property used within the company business is not treated as an investment property as it is not held for investment purposes.
Depreciation is charged so as to allocate the cost of assets less their estimated residual value over their expected useful lives. Freehold land is not depreciated as this is considered to have an indefinite useful life.
Depreciation is provided on the following basis:
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Freehold land and buildings
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A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
Stocks of goods for resale are valued at the lower of cost and net realisable value.
Page 4
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GARDEN CENTRE OVERSTRAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Debtors are measured at transaction price, less any impairment for bad or doubtful debts.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Defined contribution pension plan
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 profit or loss 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.
Interest income is recognised in the Statement of Comprehensive Income in the year in which it is received.
The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.
The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.
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The average monthly number of employees, including directors, during the period was 13 (2023 - 12).
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Page 5
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GARDEN CENTRE OVERSTRAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 6
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GARDEN CENTRE OVERSTRAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Freehold land & buildings
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Charge for the period on owned assets
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Allotted, called up and fully paid
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601,000 (2023 - 601,000) Ordinary shares of £1 each
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Page 7
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