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REGISTERED NUMBER: 00401334 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PAYNES NURSERIES (TOWCESTER) LIMITED

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PAYNES NURSERIES (TOWCESTER) LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: I T Morgan
P R Morgan





SECRETARY: I T Morgan





REGISTERED OFFICE: 194 Watling Street East
Towcester
Northamptonshire
NN12 6DB





REGISTERED NUMBER: 00401334 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,044 3,082

CURRENT ASSETS
Debtors 5 8,653 335
Cash at bank 14,787 34,166
23,440 34,501
CREDITORS
Amounts falling due within one year 6 (14,874 ) (21,457 )
NET CURRENT ASSETS 8,566 13,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,610

16,126

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 11,110 15,626
SHAREHOLDERS' FUNDS 11,610 16,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:





I T Morgan - Director


PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023


1. STATUTORY INFORMATION

Paynes Nurseries (Towcester) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00401334 and the registered office address is 194 Watling Street East, Towcester, Northamptonshire, England, NN12 6DB.

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.

The presentational currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant & Machinery25%On reducing balance
Fixtures & Fittings15%On reducing balance

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
land & Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 3,000 12,261 2,895 18,156
DEPRECIATION
At 1 October 2022 - 12,237 2,837 15,074
Charge for year - 6 32 38
At 30 September 2023 - 12,243 2,869 15,112
NET BOOK VALUE
At 30 September 2023 3,000 18 26 3,044
At 30 September 2022 3,000 24 58 3,082

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,500 100
Other debtors 7,153 235
8,653 335

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 405 4,054
Other creditors 14,469 17,403
14,874 21,457