The Garden Nursery Frome Limited 13974448 false 2022-03-14 2023-03-31 2023-03-31 The principal activity of the company is that of a childcare facilities. Digita Accounts Production Advanced 6.30.9574.0 true true 13974448 2022-03-14 2023-03-31 13974448 2023-03-31 13974448 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13974448 core:Goodwill 2023-03-31 13974448 core:OtherResidualIntangibleAssets 2023-03-31 13974448 core:FurnitureFittingsToolsEquipment 2023-03-31 13974448 core:LandBuildings 2023-03-31 13974448 bus:SmallEntities 2022-03-14 2023-03-31 13974448 bus:AuditExemptWithAccountantsReport 2022-03-14 2023-03-31 13974448 bus:FullAccounts 2022-03-14 2023-03-31 13974448 bus:SmallCompaniesRegimeForAccounts 2022-03-14 2023-03-31 13974448 bus:RegisteredOffice 2022-03-14 2023-03-31 13974448 bus:Director1 2022-03-14 2023-03-31 13974448 bus:PrivateLimitedCompanyLtd 2022-03-14 2023-03-31 13974448 core:Goodwill 2022-03-14 2023-03-31 13974448 core:IntangibleAssetsOtherThanGoodwill 2022-03-14 2023-03-31 13974448 core:OtherResidualIntangibleAssets 2022-03-14 2023-03-31 13974448 core:ComputerEquipment 2022-03-14 2023-03-31 13974448 core:FurnitureFittingsToolsEquipment 2022-03-14 2023-03-31 13974448 core:LandBuildings 2022-03-14 2023-03-31 13974448 countries:EnglandWales 2022-03-14 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13974448

The Garden Nursery Frome Limited

Annual Report and Unaudited Financial Statements

for the Period from 14 March 2022 to 31 March 2023

 

The Garden Nursery Frome Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

The Garden Nursery Frome Limited

(Registration number: 13974448)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

31,999

Tangible assets

5

9,040

 

41,039

Current assets

 

Cash at bank and in hand

 

17,581

Creditors: Amounts falling due within one year

6

(50,977)

Net current liabilities

 

(33,396)

Total assets less current liabilities

 

7,643

Provisions for liabilities

(293)

Net assets

 

7,350

Capital and reserves

 

Called up share capital

100

Retained earnings

7,250

Shareholders' funds

 

7,350

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2023
 

.........................................
R M Emmett
Director

 

The Garden Nursery Frome Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Garden Nursery Frome Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

25% straight line

Computer equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Other intangible assets

100% in first year

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The Garden Nursery Frome Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 11.

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

39,999

1

40,000

At 31 March 2023

39,999

1

40,000

Amortisation

Amortisation charge

8,000

1

8,001

At 31 March 2023

8,000

1

8,001

Net book value

At 31 March 2023

31,999

-

31,999

 

The Garden Nursery Frome Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

10,000

2,053

12,053

At 31 March 2023

10,000

2,053

12,053

Depreciation

Charge for the period

2,500

513

3,013

At 31 March 2023

2,500

513

3,013

Net book value

At 31 March 2023

7,500

1,540

9,040

6

Creditors

Amounts falling due within one year

Note

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

38,426

Taxation and social security

 

1,110

Accruals and deferred income

 

2,448

Other creditors

 

2,451

Corporation tax

 

6,542

 

50,977

 

The Garden Nursery Frome Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £32,500.

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

The company owes £38,426 to a company that is owned by the director of The Garden Nursery Frome Limited.