REGISTERED NUMBER: 07852294 (England and Wales)

Gardenlife Products Ltd

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D M Bailey

Mr T Roll

REGISTERED OFFICE:

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

REGISTERED NUMBER:

07852294 (England and Wales)

SENIOR STATUTORY AUDITOR:

Robert Willison

AUDITORS:

Swindells LLP

Chartered Accountants

and Statutory Auditor

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

CURRENT ASSETS

Debtors

6

-

1,896

Cash at bank and in hand

109,887

6,298

109,887

8,194

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

286,655

217,405

NET CURRENT LIABILITIES

(176,768

)

(209,211

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(176,768

)

(209,211

)

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

(177,768

)

(210,211

)

SHAREHOLDERS' FUNDS

(176,768

)

(209,211

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr T Roll - Director

1.	STATUTORY INFORMATION

Gardenlife Products 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.

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.

Turnover

Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for these goods and services.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Going concern

Notwithstanding the negative net assets on the balance sheet at the year end, the directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months, and thus conclude that the going concern basis remains appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

2,550

AMORTISATION

At 1 January 2024

and 31 December 2024

2,550

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

1,248

DEPRECIATION

At 1 January 2024

and 31 December 2024

1,248

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

1

Other debtors

-

1,895

-

1,896

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

37,629

3,302

Taxation and social security

4,039

-

Other creditors

244,987

214,103

286,655

217,405

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

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

The Report of the Auditors was unqualified.

Robert Willison (Senior Statutory Auditor)

for and on behalf of Swindells Swindells LLP

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date this company owed a director £794 (2023 - £482). The loan is unsecured, interest free and payable on demand.

11.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the company

During the year the company made purchases totalling £308,093 (2023 - £26,162) from entities with control or influence over the company.

At the balance sheet date, the company owed £239,611 (2023 - £215,735) to other entities with control or influence over the company.

Interest of 5% per annum was charged on the capital element of this balance, totalling £10,028 (2023 - £10,000) for the year.

12.	CONTROLLING PARTY

The immediate parent company is AS Palmako, a company incorporated in Estonia.

The ultimate parent company is AS Lemeks, a company incorporated in Estonia.

The ultimate controlling party is Jüri Külvik.

Consolidated accounts are prepared by AS Lemeks and are available from Naituse 25, 50409, Tartu, Estonia.