Registered number
09331716
NLMS Nurseries Ltd
Filleted Accounts
30 November 2023
NLMS Nurseries Ltd
Registered number: 09331716
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 21,019 29,275
Current assets
Debtors 4 82,716 132,348
Investments held as current assets 5 48,085 48,425
Cash at bank and in hand 36,952 35,583
167,753 216,356
Creditors: amounts falling due within one year 6 (50,917) (50,837)
Net current assets 116,836 165,519
Total assets less current liabilities 137,855 194,794
Creditors: amounts falling due after more than one year 7 - (86,000)
Net assets 137,855 108,794
Capital and reserves
Called up share capital 100 100
Profit and loss account 137,755 108,694
Shareholders' funds 137,855 108,794
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Sammons
Director
Approved by the board on 6 February 2024
NLMS Nurseries Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 26 27
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 92,725
Additions 1,263
At 30 November 2023 93,988
Depreciation
At 1 December 2022 63,450
Charge for the year 9,519
At 30 November 2023 72,969
Net book value
At 30 November 2023 21,019
At 30 November 2022 29,275
4 Debtors 2023 2022
£ £
Trade debtors 6,960 3,047
Amounts owed by group undertakings and undertakings in which the company has a participating interest 75,000 120,000
Other debtors 756 9,301
82,716 132,348
5 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 48,085 48,425
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,677 15,258
Taxation and social security costs 30,379 9,989
Other creditors 18,861 25,590
50,917 50,837
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 86,000
8 Related party transactions
Loans
MJAG Properties Ltd
Company Matthew Sammons has a controlling interest
Amount due to NLMS 75,000 120,000
Flash Services North East Limited
Company Matthew Sammons has a controlling interest
Amount due to Flash Services 393 25,393
Controlling party
The company was under the control of M Sammons who acted as the managing director during the accounting period
Other information
NLMS Nurseries Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Saville Close
Wynyard
Billingham
Cleveland
TS22 5GL
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