Registration number:
Louisa Gardens Ltd
for the Year Ended 31 August 2022
Louisa Gardens Ltd
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Louisa Gardens Ltd
Company Information
Director |
P Walsh |
Registered office |
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Accountants |
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Louisa Gardens Ltd
(Registration number: 04522226)
Statement of Financial Position as at 31 August 2022
Note |
2022 |
2021 |
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Fixed assets |
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Property plant and equipment |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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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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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
63,015 |
55,156 |
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Shareholders' funds |
63,115 |
55,256 |
Louisa Gardens Ltd
(Registration number: 04522226)
Statement of Financial Position as at 31 August 2022
For the financial year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
P Walsh
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P Walsh
Director
Louisa Gardens Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
General information |
The company is a private company limited by share capital, incorporated in United Kingdom..
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A small entities ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. Following the easing of all lockdown restrictions and a return to normal activities since October 2021, the director strongly believes that the company can successfully manage its business risks and will have sufficient funds to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the director adopted the going concern basis in the preparation of these financial statements.ts
Revenue recognition
turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Louisa Gardens Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
Property plant and equipment
Property plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
25% on cost |
Office equipment |
25% reducing balance |
Van |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Louisa Gardens Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
Property plant and equipment |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2021 |
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Additions |
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At 31 August 2022 |
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Depreciation |
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At 1 September 2021 |
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Charge for the year |
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At 31 August 2022 |
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Carrying amount |
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At 31 August 2022 |
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At 31 August 2021 |
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Stocks |
2022 |
2021 |
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Work in progress |
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Debtors |
Current |
2022 |
2021 |
Other debtors |
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Louisa Gardens Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Related party transactions |
Transactions with the director |
During the year a loan of £38,493 was advanced to the director by the company with no interest.