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REGISTERED NUMBER: 11748972 (England and Wales)














Sam Nurseries Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Sam Nurseries Ltd (Registered number: 11748972)

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










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Sam Nurseries Ltd

Company Information
for the Year Ended 31 March 2023







Directors: Miss S Dawson
Mr B J S Dawson
Mr A D McCrindle





Registered office: SAM Nurseries
The Wubbery
Back Street, Gayton
King's Lynn
Norfolk
PE32 1QR





Registered number: 11748972 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambs
PE13 3AD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sam Nurseries Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sam Nurseries Ltd for the year ended 31 March 2023 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sam Nurseries Ltd, as a body, in accordance with the terms of our engagement letter dated 20 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Sam Nurseries Ltd and state those matters that we have agreed to state to the Board of Directors of Sam Nurseries Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sam Nurseries Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sam Nurseries Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sam Nurseries Ltd. You consider that Sam Nurseries Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sam Nurseries Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambs
PE13 3AD


13 October 2023

Sam Nurseries Ltd (Registered number: 11748972)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 5 212,433 246,791
Tangible assets 6 8,059 8,624
220,492 255,415

Current assets
Stocks 1,000 1,000
Debtors 7 28 3,033
Prepayments and accrued income 4,496 4,035
Cash at bank and in hand 5,465 48,492
10,989 56,560
Creditors
Amounts falling due within one year 8 183,522 207,881
Net current liabilities (172,533 ) (151,321 )
Total assets less current liabilities 47,959 104,094

Creditors
Amounts falling due after more than one
year

9

(102,077

)

(147,445

)

Provisions for liabilities (2,016 ) (1,640 )
Net liabilities (56,134 ) (44,991 )

Capital and reserves
Called up share capital 1 1
Retained earnings (56,135 ) (44,992 )
(56,134 ) (44,991 )

Sam Nurseries Ltd (Registered number: 11748972)

Statement of Financial Position - continued
31 March 2023


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.

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 13 October 2023 and were signed on its behalf by:





Miss S Dawson - Director


Sam Nurseries Ltd (Registered number: 11748972)

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


1. Statutory information

Sam 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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 2019, 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.
Fixtures and fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

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 statement of financial position date.


Sam Nurseries Ltd (Registered number: 11748972)

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


3. Accounting policies - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Working capital deficit
At the balance sheet date, current liabilities exceed current assets by £172,533 (2022: £151,321). Part of this deficit is due to the directors current account being included in creditors due within one year. The director has indicated that she will not withdraw from her loan account in preference to other creditors.

4. Employees and directors

The average number of employees during the year was 17 (2022 - 19 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2022
and 31 March 2023 343,573
Amortisation
At 1 April 2022 96,782
Amortisation for year 34,358
At 31 March 2023 131,140
Net book value
At 31 March 2023 212,433
At 31 March 2022 246,791

Sam Nurseries Ltd (Registered number: 11748972)

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


6. Tangible fixed assets
Fixtures
and Office
fittings equipment Totals
£    £    £   
Cost
At 1 April 2022 17,893 542 18,435
Additions 398 1,673 2,071
Disposals (388 ) (75 ) (463 )
At 31 March 2023 17,903 2,140 20,043
Depreciation
At 1 April 2022 9,520 291 9,811
Charge for year 2,181 293 2,474
Eliminated on disposal (258 ) (43 ) (301 )
At 31 March 2023 11,443 541 11,984
Net book value
At 31 March 2023 6,460 1,599 8,059
At 31 March 2022 8,373 251 8,624

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 28 3,033

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 43,089 35,368
Other loans (see note 10) 10,000 10,000
Trade creditors 11,009 1,346
Corporation tax 5,520 8,040
Social security and other taxes 1,886 2,813
Pension control 788 733
Directors' current accounts 82,539 108,119
Accruals and deferred income 28,691 41,462
183,522 207,881

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans (see note 10) 79,577 114,945
Other loans (see note 10) 22,500 32,500
102,077 147,445

Sam Nurseries Ltd (Registered number: 11748972)

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


10. Loans

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 7,721 -
Bank loans 35,368 35,368
Other loans 10,000 10,000
53,089 45,368

Amounts falling due between one and two years:
Bank loans - 1-2 years 35,368 35,368
Other loans - 1-2 years 10,000 10,000
45,368 45,368

Amounts falling due between two and five years:
Bank loans - 2-5 years 44,209 79,577
Other loans - 2-5 years 12,500 22,500
56,709 102,077

11. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 840 6,530
Between one and five years 2,310 3,150
3,150 9,680

12. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 114,945 150,313

The bank loan of £114,945 (2022: £150,313) disclosed in creditors is secured by the following against the leasehold of Unit 15, Paxman Road, Hardwick Industrial Estate, King's Lynn:

(a) Fixed charge

(b) Floating charge, covering all the property or undertaking of the company

(c) A negative pledge