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REGISTERED NUMBER: SC260841 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: Mrs E Strachan
Ms C A Duncan





SECRETARY: Mrs E Strachan





REGISTERED OFFICE: 65 King Street
Peterhead
Aberdeenshire
AB42 1QJ





REGISTERED NUMBER: SC260841 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 43,800 51,100
Tangible assets 5 572,583 541,362
616,383 592,462

CURRENT ASSETS
Stocks 2,250 1,800
Debtors 6 13,121 16,845
Cash at bank and in hand 8 57,113
15,379 75,758
CREDITORS
Amounts falling due within one year 7 123,159 87,351
NET CURRENT LIABILITIES (107,780 ) (11,593 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

508,603

580,869

CREDITORS
Amounts falling due after more than one
year

8

(404,781

)

(459,009

)

PROVISIONS FOR LIABILITIES (6,462 ) (8,521 )
NET ASSETS 97,360 113,339

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 97,260 113,239
97,360 113,339

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

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

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

BALANCE SHEET - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th November 2023 and were signed on its behalf by:





Mrs E Strachan - Director


STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Stepping Stones Nurseries (Peterhead) Limited is a private company, limited by shares , registered in Scotland. 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. 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 2009, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - not provided
Improvements to Property - 25% on reducing balance and not provided
Equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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 Statement of Income and Retained Earnings, 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.


STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 146,000
AMORTISATION
At 1st April 2022 94,900
Amortisation for year 7,300
At 31st March 2023 102,200
NET BOOK VALUE
At 31st March 2023 43,800
At 31st March 2022 51,100

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property Property Equipment
£    £    £   
COST
At 1st April 2022 487,170 49,476 28,172
Additions - 50,260 3,835
At 31st March 2023 487,170 99,736 32,007
DEPRECIATION
At 1st April 2022 - 36,286 23,886
Charge for year - 12,045 1,650
At 31st March 2023 - 48,331 25,536
NET BOOK VALUE
At 31st March 2023 487,170 51,405 6,471
At 31st March 2022 487,170 13,190 4,286

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2022 2,618 40,992 16,845 625,273
Additions - - - 54,095
At 31st March 2023 2,618 40,992 16,845 679,368
DEPRECIATION
At 1st April 2022 970 8,507 14,262 83,911
Charge for year 412 8,121 646 22,874
At 31st March 2023 1,382 16,628 14,908 106,785
NET BOOK VALUE
At 31st March 2023 1,236 24,364 1,937 572,583
At 31st March 2022 1,648 32,485 2,583 541,362

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 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 1st April 2022
and 31st March 2023 40,992
DEPRECIATION
At 1st April 2022 8,507
Charge for year 8,121
At 31st March 2023 16,628
NET BOOK VALUE
At 31st March 2023 24,364
At 31st March 2022 32,485

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,169 4,295
Directors' current accounts - 9,490
Prepayments and accrued income 2,952 3,060
13,121 16,845

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 65,809 47,745
Hire purchase contracts 6,879 5,800
Trade creditors 6,138 5,018
Corporation tax - 3,666
Social security and other taxes 14,553 6,292
Other creditors 29,640 18,830
Directors' current accounts 140 -
123,159 87,351

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans due in 1-2 years 53,153 50,344
Bank loans due in 2-5 years 158,259 161,404
Bank loans due in more than
5 years 177,891 228,411
Hire purchase contracts 15,478 18,850
404,781 459,009

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than
5 years 177,891 228,411
177,891 228,411

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 439,665 487,904

The company has granted a standard security in favour of Royal Bank of Scotland PLC in respect of freehold property held at Castle Road Industrial Estate, Ellon, Aberdeenshire.

The company has granted a standard security in favour of Royal Bank of Scotland PLC in respect of freehold property held at 65 King Street, Peterhead, Abderdeenshire.

The company has granted a bond and floating charge in favour of Royal Bank of Scotland PLC in respect of all present and future undertakings and property of the company.

10. RESERVES
Retained
earnings
£   

At 1st April 2022 113,239
Profit for the year 17,021
Dividends (33,000 )
At 31st March 2023 97,260

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mrs E Strachan
Balance outstanding at start of year 9,490 14,969
Amounts advanced 23,370 77,521
Amounts repaid (33,000 ) (83,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (140 ) 9,490

STEPPING STONES NURSERIES
(PETERHEAD) LIMITED (REGISTERED NUMBER: SC260841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The loan is interest free and was repaid within 9 months of the Company year end date.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
STEPPING STONES NURSERIES
(PETERHEAD) LIMITED

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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Stepping Stones Nurseries (Peterhead) Limited for the year ended 31st March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Stepping Stones Nurseries (Peterhead) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stepping Stones Nurseries (Peterhead) Limited and state those matters that we have agreed to state to the Board of Directors of Stepping Stones Nurseries (Peterhead) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Stepping Stones Nurseries (Peterhead) Limited 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 profit of Stepping Stones Nurseries (Peterhead) Limited. You consider that Stepping Stones Nurseries (Peterhead) Limited 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 Stepping Stones Nurseries (Peterhead) Limited. 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.






Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


8th November 2023