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REGISTERED NUMBER: 06342680 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Simpsons Nurseries Limited

Simpsons Nurseries Limited (Registered number: 06342680)

Contents of the Financial Statements
for the year ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simpsons Nurseries Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: P C Simpson
Mrs S L Simpson
M Simpson





REGISTERED OFFICE: 8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR





REGISTERED NUMBER: 06342680 (England and Wales)





ACCOUNTANTS: KPSK Accounts and Tax Limited
8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR

Simpsons Nurseries Limited (Registered number: 06342680)

Balance Sheet
31 January 2023

31/1/23 31/1/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 422,485 423,771
422,485 423,771

CURRENT ASSETS
Stocks 800,000 800,000
Debtors 6 115,687 194,882
Cash at bank and in hand 52,754 41,045
968,441 1,035,927
CREDITORS
Amounts falling due within one year 7 628,741 638,978
NET CURRENT ASSETS 339,700 396,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

762,185

820,720

CREDITORS
Amounts falling due after more than one year 8 (447,172 ) (537,897 )

PROVISIONS FOR LIABILITIES (63,401 ) (59,942 )
NET ASSETS 251,612 222,881

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 251,512 222,781
SHAREHOLDERS' FUNDS 251,612 222,881

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

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

Simpsons Nurseries Limited (Registered number: 06342680)

Balance Sheet - continued
31 January 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 3 October 2023 and were signed on its behalf by:





P C Simpson - Director


Simpsons Nurseries Limited (Registered number: 06342680)

Notes to the Financial Statements
for the year ended 31 January 2023


1. STATUTORY INFORMATION

Simpsons 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five 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.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Simpsons Nurseries Limited (Registered number: 06342680)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 84 (2022 - 50 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 85,360
AMORTISATION
At 1 February 2022
and 31 January 2023 85,360
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2022 728,820 203,670 80,822 240,446 1,253,758
Additions 16,709 5,096 426 72,476 94,707
Disposals - (10,825 ) (13,240 ) (39,079 ) (63,144 )
At 31 January 2023 745,529 197,941 68,008 273,843 1,285,321
DEPRECIATION
At 1 February 2022 500,095 123,708 32,981 173,203 829,987
Charge for year 32,426 13,065 6,802 43,700 95,993
Eliminated on disposal - (10,825 ) (13,240 ) (39,079 ) (63,144 )
At 31 January 2023 532,521 125,948 26,543 177,824 862,836
NET BOOK VALUE
At 31 January 2023 213,008 71,993 41,465 96,019 422,485
At 31 January 2022 228,725 79,962 47,841 67,243 423,771

Simpsons Nurseries Limited (Registered number: 06342680)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022 83,949
Additions 66,476
At 31 January 2023 150,425
DEPRECIATION
At 1 February 2022 72,948
Charge for year 22,119
At 31 January 2023 95,067
NET BOOK VALUE
At 31 January 2023 55,358
At 31 January 2022 11,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Trade debtors 110,425 184,689
Tax - 4,931
Prepayments and accrued income 5,262 5,262
115,687 194,882

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Bank loans and overdrafts 130,092 108,742
Hire purchase contracts 41,525 34,319
Trade creditors 297,127 332,339
Tax 6,510 2,649
Social security and other taxes 30,190 29,125
VAT 88,540 101,333
Directors' current accounts 757 471
Accrued expenses 34,000 30,000
628,741 638,978

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/1/23 31/1/22
£    £   
Bank loans - 1-2 years 53,060 53,060
Bank loans - 2-5 years 159,180 159,180
Bank loans more 5 yr by instal 98,659 204,932
Other loans - 1-2 years 73,333 93,333
Hire purchase contracts 62,940 27,392
447,172 537,897

Simpsons Nurseries Limited (Registered number: 06342680)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31/1/23 31/1/22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 98,659 204,932

9. SECURED DEBTS

The following secured debts are included within creditors:

31/1/23 31/1/22
£    £   
Bank loans 363,959 470,232
Hire purchase contracts 104,465 61,711
468,424 531,943

The bank loan is secured by a charge over the property owned personally by the directors, Mr P Simpson and Mrs S Simpson.

Amounts due under finance leases is secured by the assets to which they relate.