18 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 5,700 3,420 570 3,990 1,710 2,280 xbrli:pure xbrli:shares iso4217:GBP SC452709 2022-04-01 2023-03-31 SC452709 2023-03-31 SC452709 2022-03-31 SC452709 2021-04-01 2022-03-31 SC452709 2022-03-31 SC452709 core:NetGoodwill 2022-04-01 2023-03-31 SC452709 core:PlantMachinery 2022-04-01 2023-03-31 SC452709 core:FurnitureFittings 2022-04-01 2023-03-31 SC452709 core:MotorVehicles 2022-04-01 2023-03-31 SC452709 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC452709 bus:Director1 2022-04-01 2023-03-31 SC452709 core:NetGoodwill 2022-03-31 SC452709 core:NetGoodwill 2023-03-31 SC452709 core:PlantMachinery 2022-03-31 SC452709 core:FurnitureFittings 2022-03-31 SC452709 core:MotorVehicles 2022-03-31 SC452709 core:PlantMachinery 2023-03-31 SC452709 core:FurnitureFittings 2023-03-31 SC452709 core:MotorVehicles 2023-03-31 SC452709 core:WithinOneYear 2023-03-31 SC452709 core:WithinOneYear 2022-03-31 SC452709 core:AfterOneYear 2023-03-31 SC452709 core:AfterOneYear 2022-03-31 SC452709 core:ShareCapital 2023-03-31 SC452709 core:ShareCapital 2022-03-31 SC452709 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC452709 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC452709 core:BetweenOneFiveYears 2023-03-31 SC452709 core:BetweenOneFiveYears 2022-03-31 SC452709 core:NetGoodwill 2022-03-31 SC452709 core:PlantMachinery 2022-03-31 SC452709 core:FurnitureFittings 2022-03-31 SC452709 core:MotorVehicles 2022-03-31 SC452709 bus:SmallEntities 2022-04-01 2023-03-31 SC452709 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC452709 bus:FullAccounts 2022-04-01 2023-03-31 SC452709 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 SC452709 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC452709 bus:OrdinaryShareClass1 2023-03-31 SC452709 bus:OrdinaryShareClass1 2022-03-31
COMPANY REGISTRATION NUMBER: SC452709
Balgillo Nurseries Dundee Limited
Filleted Unaudited Financial Statements
31 March 2023
Balgillo Nurseries Dundee Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Balgillo Nurseries Dundee Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1,710
2,280
Tangible assets
6
35,448
42,301
--------
--------
37,158
44,581
Current assets
Debtors
7
27,288
20,860
Cash at bank and in hand
206,413
206,246
---------
---------
233,701
227,106
Creditors: amounts falling due within one year
8
44,946
70,949
---------
---------
Net current assets
188,755
156,157
---------
---------
Total assets less current liabilities
225,913
200,738
Creditors: amounts falling due after more than one year
9
21,784
33,038
---------
---------
Net assets
204,129
167,700
---------
---------
Capital and reserves
Called up share capital
11
2
2
Profit and loss account
204,127
167,698
---------
---------
Shareholders funds
204,129
167,700
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Balgillo Nurseries Dundee Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
Mrs P. S. Gall
Director
Company registration number: SC452709
Balgillo Nurseries Dundee Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 56 Torridon Road, Broughty Ferry, Dundee, DD5 3HB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed that the company has adequate resources to meet the ongoing costs of the business for the foreseeable future. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangible assets
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tenants improvements
-
10% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
20% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2022: 18 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
5,700
-------
Amortisation
At 1 April 2022
3,420
Charge for the year
570
-------
At 31 March 2023
3,990
-------
Carrying amount
At 31 March 2023
1,710
-------
At 31 March 2022
2,280
-------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
30,445
31,063
31,480
92,988
Additions
663
663
--------
--------
--------
--------
At 31 March 2023
30,445
31,726
31,480
93,651
--------
--------
--------
--------
Depreciation
At 1 April 2022
17,339
27,052
6,296
50,687
Charge for the year
1,311
1,168
5,037
7,516
--------
--------
--------
--------
At 31 March 2023
18,650
28,220
11,333
58,203
--------
--------
--------
--------
Carrying amount
At 31 March 2023
11,795
3,506
20,147
35,448
--------
--------
--------
--------
At 31 March 2022
13,106
4,011
25,184
42,301
--------
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
9,635
3,429
Other debtors
17,653
17,431
--------
--------
27,288
20,860
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,000
Trade creditors
606
366
Corporation tax
29,862
45,024
Social security and other taxes
1,629
3,263
Other creditors
12,849
16,296
--------
--------
44,946
70,949
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,500
Other creditors
21,784
24,538
--------
--------
21,784
33,038
--------
--------
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2023
2022
£
£
Not later than 1 year
2,754
2,754
Later than 1 year and not later than 5 years
21,784
24,538
--------
--------
24,538
27,292
--------
--------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.01 each
200
2
200
2
----
----
----
----
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
46,100
46,100
Later than 1 year and not later than 5 years
61,592
107,692
---------
---------
107,692
153,792
---------
---------
13. Transactions with directors
The company was under the control of Mrs K Lee and Mrs P Gall throughout the current and previous year.