Garpa Garden & Park Furniture Limited
Financial Statements
For the year ended 31 December 2022
Pages for Filing with Registrar
Company Registration No. 04536226 (England and Wales)
Garpa Garden & Park Furniture Limited
Company Information
Directors
M Köhler-Prehn
D Petermann
(Appointed 1 April 2023)
Company number
04536226
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Auditors
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Garpa Garden & Park Furniture Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Garpa Garden & Park Furniture Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
322,367
303,515
Cash at bank and in hand
34,103
45,806
356,470
349,321
Creditors: amounts falling due within one year
4
(66,144)
(68,884)
Net current assets
290,326
280,437
Capital and reserves
Called up share capital
5
10,000
10,000
Profit and loss reserves
280,326
270,437
Total equity
290,326
280,437
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 September 2023 and are signed on its behalf by:
D Petermann
Director
Company Registration No. 04536226
Garpa Garden & Park Furniture Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 2
1
Accounting policies
Company information
Garpa Garden & Park Furniture Limited is a private company limited by shares domiciled and incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
Accounting convention
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for commissions paid by the parent company and for goods and services net of VAT and trade discounts. Turnover is recognised on delivery of garden furniture provided to customers.
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.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Garpa Garden & Park Furniture Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 3
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2020 - 0).
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
46,271
14,798
Amounts owed by group undertakings
272,153
263,904
Other debtors
-
12,694
Prepayments and accrued income
3,943
12,119
322,367
303,515
4
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
2,500
2,988
Other taxation and social security
5,638
16,851
Other creditors
41,306
48,095
Accruals and deferred income
16,700
950
66,144
68,884
Garpa Garden & Park Furniture Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 4
5
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary Shares of £1 each
10,000
10,000
10,000
10,000
6
Audit report information
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.
Senior Statutory Auditor:
Ryan Day
Statutory Auditor:
Moore Kingston Smith LLP
7
Related party transactions
The company made purchases from its parent company, GARPA Garten and Park Einrichtungen GmbH, amounting to £239,335 (2021: £321,740). It also received £12,387 (2021: £15,879) for intermediary services supplied to the parent company during the period under review. At the year end a balance of £272,153 (2021: £263,904) was due from the parent company.
8
Parent company
The company is a wholly owned subsidiary undertaking of GARPA Garten and Park Einrichtungen GmbH, registered in Germany. The registered office is Kiehnwiese 1, Escheburg, 21039, Germany.
The ultimate controlling party of the group which owns the company is DK Premium Brands Holdings AG by virtue of their 100% holding in GARPA Holert Handelsgesellschaft mbH & Co. KG.