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Owen Nurseries Limited

Unaudited Financial Statements

for the Year Ended

31 March 2023






Owen Nurseries Limited (Registered number: 05560726)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Owen Nurseries Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S B Owen
S A Owen





SECRETARY: S A Owen





REGISTERED OFFICE: 338 Spring Road
Sholing
Southampton
Hampshire
SO19 2NX





REGISTERED NUMBER: 05560726 (England and Wales)





ACCOUNTANTS: David Tilsley Limited
91 Lakewood Road
Chandlers Ford
Eastleigh
Hampshire
SO53 5AD

Owen Nurseries Limited (Registered number: 05560726)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 656,715 690,876

CURRENT ASSETS
Debtors 5 4,989 3,660
Cash at bank and in hand 161,164 166,870
166,153 170,530
CREDITORS
Amounts falling due within one year 6 67,571 62,479
NET CURRENT ASSETS 98,582 108,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

755,297

798,927

CREDITORS
Amounts falling due after more than one
year

7

(234,562

)

(259,656

)

PROVISIONS FOR LIABILITIES (669 ) (5,008 )
NET ASSETS 520,066 534,263

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 519,966 534,163
SHAREHOLDERS' FUNDS 520,066 534,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Owen Nurseries Limited (Registered number: 05560726)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





Mrs S B Owen - Director


Owen Nurseries Limited (Registered number: 05560726)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Owen Nurseries Limited 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.

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 represents net invoiced childcare, excluding value added tax.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 20% on cost and 15% on reducing balance

The Freehold Property has not been depreciated. The director has considered its value, without performing a revaluation, and considers that the residual value is not lower than that stated in the accounts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Owen Nurseries Limited (Registered number: 05560726)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and the director's personal pensions are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 577,995 303,105 881,100
Additions - 2,327 2,327
Disposals (6,100 ) (14,304 ) (20,404 )
At 31 March 2023 571,895 291,128 863,023
DEPRECIATION
At 1 April 2022 - 190,224 190,224
Charge for year - 29,350 29,350
Eliminated on disposal - (13,266 ) (13,266 )
At 31 March 2023 - 206,308 206,308
NET BOOK VALUE
At 31 March 2023 571,895 84,820 656,715
At 31 March 2022 577,995 112,881 690,876

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 73,672
DEPRECIATION
At 1 April 2022 11,051
Charge for year 9,393
At 31 March 2023 20,444
NET BOOK VALUE
At 31 March 2023 53,228
At 31 March 2022 62,621

Owen Nurseries Limited (Registered number: 05560726)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 124
Other debtors 4,989 3,536
4,989 3,660

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 15,967 15,809
Hire purchase contracts 8,907 6,660
Taxation and social security 40,812 33,054
Other creditors 1,885 6,956
67,571 62,479

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 178,541 194,728
Hire purchase contracts 56,021 64,928
234,562 259,656

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 114,673 131,492

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 194,508 210,537

The company has a mortgage secured on the freehold property.

Owen Nurseries Limited (Registered number: 05560726)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs S B Owen and S A Owen
Balance outstanding at start of year - 12,580
Amounts advanced 136,920 -
Amounts repaid (136,847 ) (12,580 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73 -