Alice's Garden UK LTD is a private company limited by shares incorporated in England and Wales. The registered office is International House, 24 Holborn Viaduct, London, EC1A 2BN.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company is dependent upon the continued financial support of its parent company, which has undertaken to financially support the company for the at least 12 months after the date of the signing of these accounts. The financial statements have therefore been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Related party disclosure exemption
The company has taken advantage of the exemption not to disclose transactions entered into by two members of a group where a subsidiary that is party to a transaction is wholly owned by such a member. The company is a wholly owned subsidiary of WALIBUY SAS , a company incorporated in France.
As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006 :
The auditor's report was unqualified.
During the year, expenses amounting to £62,528 were recharged from a fellow group company, Walibuy Spain SL to the company for the costs incurred by Walibuy Spain on behalf of the company. These costs are mainly a share of office costs of the team working on the UK company in Spain, staff costs of staff working on the UK company, a share of IT support, and administration costs attributed to the UK Company. The amount owed to Walibuy Spain at the year-end amounted to £64,918.
WALIBUY SAS , incorporated in France is regarded by the directors as being the company's ultimate parent company and controlling party. The company's registered office is at 137 Allée de l’Ecopark , 59118 W ambrechies , France.
WALIBUY SAS prepared group financial statements and copies can be obtained from its registered office.
The average monthly number of persons (including directors) employed by the company during the Period was 0.