ABERCORN_PLANT_&_GARDEN_C

ABERCORN PLANT & GARDEN CENTRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

13,500

27,000

Tangible assets

48,620

61,197

Investments

1,000

63,120

89,197

Current assets

Stocks

222,674

229,793

Debtors

58,979

59,854

Cash at bank and in hand

295,184

119,988

576,837

409,635

Creditors: amounts falling due within one year

(471,654)

(358,505)

Net current assets

105,183

51,130

Total assets less current liabilities

168,303

140,327

Creditors: amounts falling due after more than one year

(100,000)

(52,805)

68,303

87,522

Capital and reserves

Called up share capital

100

Profit and loss account

68,203

87,422

Shareholders' funds

68,303

87,522

ABERCORN PLANT & GARDEN CENTRE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2015

- 2 -

For the financial period ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 December 2015

DJ Norman

Mrs M Norman

Director

Company Registration No. 06053275

ABERCORN PLANT & GARDEN CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 JULY 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% on net book value and 10% to 25% on cost

Fixtures, fittings & equipment

15% on net book value

Motor vehicles

25% on net book value

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stock is valued at the lower of cost and net realisable value. Full provision is made for unsaleable stock.

ABERCORN PLANT & GARDEN CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 JULY 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 February 2014

90,000

150,717

1,000

241,717

Additions

1,500

2,815

4,315

Disposals

(1,500)

At 31 July 2015

90,000

153,532

1,000

244,532

Depreciation

At 1 February 2014

63,000

89,520

152,520

On disposals

(1,500)

Charge for the period

15,000

15,392

30,392

At 31 July 2015

76,500

104,912

181,412

Net book value

At 31 July 2015

13,500

48,620

1,000

63,120

At 31 January 2014

27,000

61,197

1,000

89,197

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

During the year the company entered into the following transactions with Jamada Limited, a company of which Mr DJ Norman and Mrs M Norman are directors. Jamada Limited was liquidated on 31 July 2015:-

2015

2014

Sales

21,911

60,115

Purchases

40,820

21,225

ABERCORN PLANT & GARDEN CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 JULY 2015

Related party relationships and transactions

(Continued)

- 5 -

At 31 July 2015 Jamada Trading Limited owed £Nil (2014: £49,070) to Abercorn Plant and Garden Centre Limited.

As at 31 July 2015, the outstanding balance on the directors' loan account was a credit balance of £316,967 (2014: £278,055).

Dividends to Directors

The following directors were paid dividends during the period as outlined in the table below:

2015

2014

DJ Norman

31,000

M Norman

12,000

43,000