REGISTERED NUMBER: |
East End Nurseries (Keyingham) Limited |
Financial Statements for the Year Ended 30th November 2022 |
REGISTERED NUMBER: |
East End Nurseries (Keyingham) Limited |
Financial Statements for the Year Ended 30th November 2022 |
East End Nurseries (Keyingham) Limited (Registered number: 01054835) |
Contents of the Financial Statements |
for the year ended 30th November 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
East End Nurseries (Keyingham) Limited |
Company Information |
for the year ended 30th November 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
East End Nurseries (Keyingham) Limited (Registered number: 01054835) |
Balance Sheet |
30th November 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
East End Nurseries (Keyingham) Limited (Registered number: 01054835) |
Notes to the Financial Statements |
for the year ended 30th November 2022 |
1. | STATUTORY INFORMATION |
East End Nurseries (Keyingham) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical convention. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Going concern |
The financial statements continue to be prepared on a going concern basis. |
The ability of the company to continue to meet its liabilities as they fall due is dependent upon the renewal of group banking facilities, which are secured in a relatively small part on the assets of the company. The existing facilities run until February 2024, at which time the bank will conduct their periodic review. |
The directors do not consider this to constitute a material uncertainty over the company's ability to continue as a going concern given the substantial level of security that the group has to offer and the positive group financial forecasts prepared. The directors have a reasonable expectation that facilities will be renewed at the level required to maximise the new and exciting opportunities that present to the parent company. |
Turnover |
Turnover is measured at the fair value of the consideration received of receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover as follows: |
Sale of goods |
Turnover from the sale of goods is recognised when significant risk and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is calculated to write down the cost or valuation of all fixed assets (excluding freehold land) by equal annual instalments over their expected useful lives. |
The rates generally applicable are:- |
Buildings | 5% |
Glasshouses | 5% |
Plant and equipment | 10%-20% |
Motor vehicles | 33% |
East End Nurseries (Keyingham) Limited (Registered number: 01054835) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2022 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that expenditure which has been incurred in the normal course of business in bringing the product to its present location and condition. |
In the case of raw materials and consumable stores, cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in first out basis. In the case of work in progress and finished goods, cost consists of direct materials, direct labour and attributable production overheads based on normal levels of activity. |
Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution. |
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 balance sheet date. |
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. |
Employee benefits |
The company operates a defined contribution pension scheme. Contributions to this scheme are charged to the profit and loss account in the period to which they relate. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Foreign currencies |
Transactions denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. |
Balances at the year end denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
East End Nurseries (Keyingham) Limited (Registered number: 01054835) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2022 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
land | Buildings | equipment |
£ | £ | £ |
COST |
At 1st December 2021 |
Disposals | ( |
) |
At 30th November 2022 |
DEPRECIATION |
At 1st December 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th November 2022 |
NET BOOK VALUE |
At 30th November 2022 |
At 30th November 2021 |
Fixtures |
Motor | and |
Glass-houses | vehicles | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2021 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30th November 2022 |
DEPRECIATION |
At 1st December 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30th November 2022 |
NET BOOK VALUE |
At 30th November 2022 |
At 30th November 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
East End Nurseries (Keyingham) Limited (Registered number: 01054835) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank overdrafts |
The bank overdraft and bank loan are secured by fixed charges on the land and premises, a fixed charge on the company's book debts and a floating charge on all assets. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | OTHER FINANCIAL COMMITMENTS |
The company has given guarantees in respect of borrowings of Berrygate Hill Nurseries Limited. At 30th November 2022 the potential liability of the company under the arrangement was £1,003,994 (2021 £1,141,998). |