Registered Number 01750654
COUNTRY GARDENS LIMITED
Micro-entity Accounts
25 December 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Investments | 1 |
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Current assets | |||
Debtors |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1
Fixed assets Investments
Beacon Garden Centres Limited - England & Wales - 100% - Direct
WYE 2004 Limited - England & Wales - 100% - Direct
Country Garden Centres Limited - England & Wales - 100% - Direct
The Country Gardener Limited - England & Wales - 100% - Direct
L R Russell Limited - England & Wales - 100% - Direct
Coventry Garden Centre Limited - England & Wales - 100% - Direct
Subsequent to the year end date, the group undertook a group simplification exercise which resulted in the dissolution of 24 dormant companies, 23 on the 28 February 2017 and 1 on the 25 July 2017. The following dissolved companies were an investment of the Company as at 25 December 2016:
• Country Garden Centres Limited
• Coventry Garden Centre Limited
• Beacon Garden Centres Limited
• Wye 2004 Limited
• L R Russell Limited
• The Country Gardener Limited
3 Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared on the historical cost basis.
The Company has opted to apply Section 390(3) of the Companies Act 2006. This permits the Company to end its financial year on 25 December 2016 (2015: 27 December 2015) as it is not more than 7 days after or before the end of the year dated 31 December 2016 (2015: 31 December 2015).
Other accounting policies
Financial assets are assessed for indicators of impairment at each Balance sheet date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted.
Objective evidence of impairment could include:
- significant financial difficulty of the issuer or counterparty
- default in interest or principal payments
- it becoming probable that the borrower will enter bankruptcy
The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account.
Other receivables
Other receivables and loans are measured at initial recognition at their fair value, and are subsequently measured at amortised cost using the effective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognised in the Income statement when there is objective evidence that the asset is impaired.
Impairment of tangible and intangible assets excluding goodwill
The Company reviews the carrying amounts of its tangible and intangible assets annually, to determine whether there is any indication those assets have suffered an impairment loss. If any such loss exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less disposal costs and value in use. In assessing the value in use, the estimated future cash flows are discounted to their present value using the Company's weighted average cost of capital. Management estimates discount rates using pre-tax rates that reflect current market assessments of the time value of money and the risks specific to the cash generating units. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised as an expense immediately.
Investments
Investments are stated at cost less any provision for impairment. Cost of investments includes costs directly attributable to their acquisition.
Share capital
Share capital represents the Ordinary shares issued by the Company and are recorded at the proceeds received less direct issue costs.