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Unaudited Financial Statements for the Year Ended 31 January 2016 |
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ROSEBANK GARDEN CENTRE LTD |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2016 |
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for |
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ROSEBANK GARDEN CENTRE LTD |
ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 9 |
ROSEBANK GARDEN CENTRE LTD |
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Company Information |
for the Year Ended 31 January 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Balance Sheet |
31 January 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Profit and loss account | 11 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Balance Sheet - continued |
31 January 2016 |
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The financial statements were approved by the Board of Directors on
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ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised at current tax rates in respect of all timing differences that have originated but not |
reversed at the balance sheet date. A deferred tax asset is only recognised to the extent that future taxable profits |
are expected to reverse the underlying timing difference. Deferred tax balances are not discounted. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2016 |
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2. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 February 2015 |
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Additions |
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At 31 January 2016 |
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DEPRECIATION |
At 1 February 2015 |
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Charge for year |
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At 31 January 2016 |
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NET BOOK VALUE |
At 31 January 2016 |
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At 31 January 2015 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 February 2015 |
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Transfer to ownership | (13,995 | ) |
At 31 January 2016 |
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DEPRECIATION |
At 1 February 2015 |
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Charge for year |
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Transfer to ownership | (13,995 | ) |
At 31 January 2016 |
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NET BOOK VALUE |
At 31 January 2016 |
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At 31 January 2015 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors | 3,123 | 2,333 |
Other debtors | 6,427 | 26,931 |
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ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2016 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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6. | LOANS |
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An analysis of the maturity of loans is given below: |
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2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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15,087 | 30,464 |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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7. | OPERATING LEASE COMMITMENTS |
ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2016 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Bank loans |
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Hire purchase contracts | 13,000 | 21,029 |
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The Royal Bank of Scotland holds a standard security over the property, The Shieling, Rosebank, and a floating |
charge over the assets of the company. |
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9. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 February 2015 |
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Accelerated capital allowances | (2,800 | ) |
Balance at 31 January 2016 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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ordinary | £1 |
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11. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 February 2015 |
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Profit for the year |
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Dividends | ( |
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At 31 January 2016 |
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ROSEBANK GARDEN CENTRE LTD (REGISTERED NUMBER: SC255996) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2016 |
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12. | RELATED PARTY DISCLOSURES |
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At the year end the company had the following loan balance with J T Forrest. This loan is interest free with no |
fixed repayment terms |
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2016 | 2015 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | ( |
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At the year end the company had the following loan balance with Mrs H Forrest. This loan is interest free with |
no fixed repayment terms |
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2016 | 2015 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | ( |
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At the year end the company had the following loan balance with C J G Forrest. This loan is interest free with no |
fixed repayment terms |
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2016 | 2015 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | ( |
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13. | ULTIMATE CONTROLLING PARTY |
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There was no ultimate controlling party during the year. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Rosebank Garden Centre Ltd |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Rosebank Garden Centre Ltd for the year ended 31 January 2016 which comprise the Profit and |
Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Rosebank Garden Centre Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rosebank Garden Centre Ltd and state those matters that we have agreed to state to the Board of Directors of Rosebank Garden Centre Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Rosebank Garden Centre Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rosebank Garden Centre Ltd. You consider that Rosebank Garden Centre Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Rosebank Garden Centre Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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6 June 2016 |