Company Registration No. 04727523 (England and Wales)
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
BALANCE SHEET
AS AT 30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Goodwill
5
7,500
11,250
Tangible assets
6
61,238
36,715
68,738
47,965
Current assets
Debtors
7
101,773
112,337
Cash at bank and in hand
5,150
76
106,923
112,413
Creditors: amounts falling due within one year
8
(100,501)
(146,002)
Net current assets/(liabilities)
6,422
(33,589)
Total assets less current liabilities
75,160
14,376
Creditors: amounts falling due after more than one year
9
(51,330)
(8,544)
Provisions for liabilities
(6,700)
(6,700)
Net assets/(liabilities)
17,130
(868)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
17,129
(869)
Total equity
17,130
(868)
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2021
30 April 2021
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 and signed by the director and authorised for issue on 8 October 2021
S E Illman
Director
Company Registration No. 04727523
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2021
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 May 2019
1
(15,522)
(15,521)
Year ended 30 April 2020:
Profit and total comprehensive income for the year
-
14,653
14,653
Balance at 30 April 2020
1
(869)
(868)
Year ended 30 April 2021:
Profit and total comprehensive income for the year
-
19,998
19,998
Dividends
-
(2,000)
(2,000)
Balance at 30 April 2021
1
17,129
17,130
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 4 -
1
Accounting policies
Company information
Illman Young Landscape Design Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Warehouse, Kingshold Building 4, Malmesbury Road, Cheltenham, GL51 9PL.
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 a
mounts
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
Turnover
Turnover represents amounts invoiced during the year, exclusive of Value Added Tax.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
Goodwill - To be written off over 20 years
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% Reducing balance
Computer equipment
20% Reducing balance
Motor vehicles
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents
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.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.12
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is 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.
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 7 -
3
Exceptional item
2021
2020
£
£
Expenditure
Exceptional bad debt write-off
16,451
-
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
8
8
5
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2020 and 30 April 2021
75,000
Amortisation and impairment
At 1 May 2020
63,750
Amortisation charged for the year
3,750
At 30 April 2021
67,500
Carrying amount
At 30 April 2021
7,500
At 30 April 2020
11,250
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 8 -
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2020
152,678
Additions
38,262
At 30 April 2021
190,940
Depreciation and impairment
At 1 May 2020
115,963
Depreciation charged in the year
13,739
At 30 April 2021
129,702
Carrying amount
At 30 April 2021
61,238
At 30 April 2020
36,715
7
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
43,026
91,388
Corporation tax recoverable
10,536
Prepayments and accrued income
48,211
20,949
101,773
112,337
8
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
10,000
44,983
Obligations under finance leases
9,597
8,181
Trade creditors
9,031
14,166
Other taxation and social security
37,163
33,050
Other creditors
28,735
43,131
Accruals and deferred income
5,975
2,491
100,501
146,002
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 9 -
9
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
30,000
Obligations under finance leases
21,330
8,544
51,330
8,544
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
12,500
37,500
11
Related party transactions
At the end, the company owed the director £20,908 (2020: £29,131). No interest has been charged on this amount and there is no fixed date for repayment, other than it is repayable on demand.
2021-04-30
2020-05-01
false
08 October 2021
CCH Software
CCH Accounts Production 2021.200
No description of principal activity
S E Illman
M J Edgington
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