REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
Chapmans Nurseries Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
Chapmans Nurseries Ltd |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chapmans Nurseries Ltd |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Lichfield Street |
Burton-on-Trent |
Staffordshire |
DE14 3RD |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Statement of Financial Position |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Statement of Financial Position - continued |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Chapmans Nurseries Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents sales of goods in the normal course of business, net of discounts, value added tax and other sales taxes. Sales of goods are recognised when title has passed to the customer. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Retail shop | - |
Implements & equipment | - |
Installations | - |
Motor vehicles & tractors | - |
Computer equipment | - |
Tangible fixed assets are included at cost less depreciation and impairment. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Debtors |
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss. |
Creditors |
Short term creditors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
AMORTISATION |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | TANGIBLE FIXED ASSETS |
Retail | Implements |
shop | & equipment | Installations |
£ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor |
vehicles | Computer |
& tractors | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
& tractors |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Prepayments |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT |
Credit card | - | 1,116 |
Directors' current accounts |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more than 5 years |
Hire purchase contracts (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 87,887 | 96,708 |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
31.12.21 | 31.12.20 |
£ | £ |
Gross obligations repayable: |
Within one year |
Between one and five years |
Finance charges repayable: |
Within one year |
Between one and five years |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans |
11. | PROVISIONS FOR LIABILITIES |
31.12.21 | 31.12.20 |
£ | £ |
Deferred tax | 3,420 | 2,870 |
Deferred |
tax |
£ |
Balance at 1 January 2021 |
Accelerated capital allowances | 550 |
Balance at 31 December 2021 |
Chapmans Nurseries Ltd (Registered number: 06294481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
13. | COVID 19 |
The COVID-19 pandemic developed rapidly throughout 2020 and 2021 with the UK government and the devolved administrations of the United Kingdom introducing various measures that have affected economic activity. |
We have taken all necessary measures to monitor and mitigate the effects of COVID-19, such as health and safety measures for our staff and customers. |
The measures introduced by the government during this accounting year, and subsequently, did have an impact upon the business, as the premises were required to close during the initial lockdown. The company worked hard to introduce alternative methods of selling to mitigate the loss of sales due to the enforced closure this included a delivery service and additional garden design and planting. |
Since reopening the footfall through the centre has reduced as customer confidence was impacted by the pandemic, the measures introduced through the enforced closure of the centre have continued. |
During the initial lockdown in early 2020 the company was able to make use of the Coronavirus Job Retention Scheme to protect the employment status of staff. |
We will continue to follow government policies and guidelines and to continue operations in the best and safest way possible without endangering the health of our staff or customers. |
There has been no impact upon the company's liquidity or ability to continue as a going concern arising from the pandemic. |