13 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11221693 2022-03-01 2023-02-28 11221693 2023-02-28 11221693 2022-02-28 11221693 2021-03-01 2022-02-28 11221693 2022-02-28 11221693 core:LandBuildings core:LongLeaseholdAssets 2022-03-01 2023-02-28 11221693 bus:Director1 2022-03-01 2023-02-28 11221693 core:WithinOneYear 2023-02-28 11221693 core:WithinOneYear 2022-02-28 11221693 core:AfterOneYear 2023-02-28 11221693 core:AfterOneYear 2022-02-28 11221693 core:ShareCapital 2023-02-28 11221693 core:ShareCapital 2022-02-28 11221693 core:RetainedEarningsAccumulatedLosses 2023-02-28 11221693 core:RetainedEarningsAccumulatedLosses 2022-02-28 11221693 bus:SmallEntities 2022-03-01 2023-02-28 11221693 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11221693 bus:AbridgedAccounts 2022-03-01 2023-02-28 11221693 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11221693 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11221693 core:OfficeEquipment 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 11221693
Lloyd Williamson Nurseries Ltd
Filleted Unaudited Abridged Financial Statements
28 February 2023
Lloyd Williamson Nurseries Ltd
Abridged Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
3,962
Current assets
Debtors
163,399
247,982
Creditors: amounts falling due within one year
75,925
107,535
---------
---------
Net current assets
87,474
140,447
--------
---------
Total assets less current liabilities
87,474
144,409
Creditors: amounts falling due after more than one year
311,020
237,945
---------
---------
Net liabilities
( 223,546)
( 93,536)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 223,646)
( 93,636)
---------
--------
Shareholders deficit
( 223,546)
( 93,536)
---------
--------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 28 February 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 abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Lloyd Williamson Nurseries Ltd
Abridged Statement of Financial Position (continued)
28 February 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 24 November 2023 , and are signed on behalf of the board by:
Mrs L Meyer
Director
Company registration number: 11221693
Lloyd Williamson Nurseries Ltd
Notes to the Abridged Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 112 Palace Gardens Terrace, London, W8 4RT, England.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
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, stated net of discounts and of Value Added Tax.
Income 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.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Building lease
-
10% straight line
School equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 13 (2022: 12 ).
5. Tangible assets
£
Cost
At 1 March 2022
201,545
Disposals
( 201,545)
---------
At 28 February 2023
---------
Depreciation
At 1 March 2022
197,583
Charge for the year
3,962
Disposals
( 201,545)
---------
At 28 February 2023
---------
Carrying amount
At 28 February 2023
---------
At 28 February 2022
3,962
---------
6. Related party transactions
The company was under the control of Mrs L Meyer throughout the current year. Mrs L Meyer is the majority shareholder and managing director. An amount of £311,020 (2022: £237,945) is payable by Lloyd Williamson Nurseries Ltd to the director Mrs L Meyer as at the reporting date.