General Information
GARDEN THYME. GARDEN MAINTENANCE AND LANDSCAPE LTD is a private company, limited by shares, registered in England and Wales, registration number 06067638, registration address 3 Hardy Close, Thatcham, Berkshire, RG18 3AZ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Hire purchase and leasing agreements
Assets held under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor vehicles 30% reducing balance
Plant and machinery 30% reducing balance
Fixtures and fittings 30% reducing balance
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
|
| 2. |
Average number of employees
Average number of employees during the year was 5 (2024 : 3).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Motor Vehicles |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
45,942 |
|
1,012 |
|
23,090 |
|
70,044 |
| Additions |
11,524 |
|
- |
|
- |
|
11,524 |
| Disposals |
- |
|
(717) |
|
- |
|
(717) |
| At 31 March 2025 |
57,466 |
|
295 |
|
23,090 |
|
80,851 |
| Depreciation |
| At 01 April 2024 |
21,084 |
|
754 |
|
2,129 |
|
23,967 |
| Charge for year |
10,362 |
|
78 |
|
6,288 |
|
16,728 |
| On disposals |
- |
|
(718) |
|
- |
|
(718) |
| At 31 March 2025 |
31,446 |
|
114 |
|
8,417 |
|
39,977 |
| Net book values |
| Closing balance as at 31 March 2025 |
26,020 |
|
181 |
|
14,673 |
|
40,874 |
| Opening balance as at 01 April 2024 |
24,858 |
|
258 |
|
20,961 |
|
46,077 |
The net book value of Plant and Machinery, Motor Vehicles includes £ 31,630 (2024 £43,726) in respect of assets leased under finance leases or hire purchase contracts.
|
| 4. |
Advances and Credits
I Douglas At the balance sheet date there was a credit balance of £87 (2024: £226 debit) on the director's loan account.
The loan account is interest free with no fixed date for repayment. | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| I Douglas | 226 | | 527 | | 0 | | 840 | | 0 | | 0 | | (87) | | 226 | | 527 | | 0 | | 840 | | 0 | | 0 | | -87 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| I Douglas | 850 | | 0 | | 0 | | 624 | | 0 | | 0 | | 226 | | 850 | | 0 | | 0 | | 624 | | 0 | | 0 | | 226 |
|
| 5. |
Debtors: amounts falling due within one year
| . |
|
2025
£ |
|
2024
£ |
| Trade debtors |
|
16,631 |
|
5,041 |
| Prepayments & accrued income |
|
1,100 |
|
1,100 |
| Directors |
|
- |
|
226 |
|
|
17,731 |
|
6,367 |
|
| 6. |
Creditors: amounts falling due within one year
| . |
|
2025
£ |
|
2024
£ |
| Trade creditors |
|
- |
|
341 |
| PAYE & social security |
|
3,336 |
|
1,953 |
| Accrued expenses |
|
4,500 |
|
1,800 |
| Other creditors |
|
3,156 |
|
2,054 |
| Obligations under HP/Finance leases |
|
10,695 |
|
9,058 |
| Wages & salaries control account |
|
2,693 |
|
5,188 |
| Directors |
|
87 |
|
- |
| VAT |
|
23,162 |
|
2,925 |
|
|
47,629 |
|
23,319 |
|
| 7. |
Creditors: amounts falling due after more than one year
| . |
|
2025
£ |
|
2024
£ |
| Other creditors |
|
18,910 |
|
13,010 |
| Obligations under HP/ Financial leases |
|
26,229 |
|
36,323 |
|
|
45,139 |
|
49,333 |
|
| 8. |
Provisions for liabilities
| . |
|
2025
£ |
|
2024
£ |
| Deferred tax |
|
(8,261) |
|
(5,286) |
|
|
(8,261) |
|
(5,286) |
|
2
|