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REGISTERED NUMBER: 06294481 (England and Wales)










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: Mrs H J Osborne
R Chapman
J Osborne
K Jenkinson





SECRETARY: Mrs D Carter





REGISTERED OFFICE: Chapmans Nurseries
Burton Road
Rosliston
Swadlincote
Derbyshire
DE12 8JX





REGISTERED NUMBER: 06294481 (England and Wales)





ACCOUNTANTS: Bourne & Co
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 50,536 54,408
50,536 54,408

CURRENT ASSETS
Stocks 370,000 320,000
Debtors 6 365 359
Cash at bank and in hand 17,927 109,390
388,292 429,749
CREDITORS
Amounts falling due within one year 7 172,968 204,926
NET CURRENT ASSETS 215,324 224,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,860

279,231

CREDITORS
Amounts falling due after more than
one year

8

(145,398

)

(162,614

)

PROVISIONS FOR LIABILITIES 11 (3,420 ) (2,870 )
NET ASSETS 117,042 113,747

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 12 100 100
Share premium 149,878 149,878
Retained earnings (32,936 ) (36,231 )
SHAREHOLDERS' FUNDS 117,042 113,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 8 September 2022 and were signed on its behalf by:





K Jenkinson - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Retail shop - 10% on reducing balance
Implements & equipment - 20% on reducing balance
Installations - 10% on reducing balance
Motor vehicles & tractors - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 10 (2020 - 11 ) .

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 35,427
AMORTISATION
At 1 January 2021
and 31 December 2021 35,427
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 66,603 27,371 82,253
Additions - 1,650 -
Disposals - - (2,604 )
At 31 December 2021 66,603 29,021 79,649
DEPRECIATION
At 1 January 2021 50,247 23,461 58,617
Charge for year 1,616 983 2,277
Eliminated on disposal - - (1,964 )
At 31 December 2021 51,863 24,444 58,930
NET BOOK VALUE
At 31 December 2021 14,740 4,577 20,719
At 31 December 2020 16,356 3,910 23,636

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 36,896 758 213,881
Additions - - 1,650
Disposals - - (2,604 )
At 31 December 2021 36,896 758 212,927
DEPRECIATION
At 1 January 2021 26,390 758 159,473
Charge for year 6 - 4,882
Eliminated on disposal - - (1,964 )
At 31 December 2021 26,396 758 162,391
NET BOOK VALUE
At 31 December 2021 10,500 - 50,536
At 31 December 2020 10,506 - 54,408

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 25,630
DEPRECIATION
At 1 January 2021
and 31 December 2021 16,617
NET BOOK VALUE
At 31 December 2021 9,013
At 31 December 2020 9,013

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Prepayments 365 359

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 14,846 12,142
Hire purchase contracts (see note 9) 2,492 5,543
Trade creditors 88,791 76,805
Corporation tax 1,820 7,628
Social security and other taxes 1,727 914
VAT 8,553 20,420
Credit card - 1,116
Directors' current accounts 52,431 77,431
Accrued expenses 2,308 2,927
172,968 204,926

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans - 2-5 years 57,511 63,414
Bank loans more than 5 years 87,887 96,708
Hire purchase contracts (see note 9) - 2,492
145,398 162,614

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 2,524 5,842
Between one and five years - 2,524
2,524 8,366

Finance charges repayable:
Within one year 32 299
Between one and five years - 32
32 331

Net obligations repayable:
Within one year 2,492 5,543
Between one and five years - 2,492
2,492 8,035

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank loans 160,244 172,264

11. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 3,420 2,870

Deferred
tax
£   
Balance at 1 January 2021 2,870
Accelerated capital allowances 550
Balance at 31 December 2021 3,420

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: £    £   
100 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.