Registered number
07443140
Sturmer Nurseries Limited
Report and Accounts
31 December 2023
Sturmer Nurseries Limited
Report and accounts
Contents
Page
Directors' report 1
Accountants' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6
Sturmer Nurseries Limited
Registered number: 07443140
Directors' Report
The directors present their report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be the operation and management of a garden centre.
Directors
The following persons served as directors during the year:
Robert Mason
Samantha Mason
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 7 March 2024 and signed on its behalf.
Samantha Mason
Director
Sturmer Nurseries Limited
Accountants' Report
Accountants' report to the directors of
Sturmer Nurseries Limited
You consider that the company is exempt from an audit for the year ended 31 December 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Anthony N Bristow MA FCA
Anthony N Bristow Chartered Accountant
The Windmill
Balderton Lane
Coddington
Newark
NG24 2QE
7 March 2024
Sturmer Nurseries Limited
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 959,305 912,158
Cost of sales (687,402) (652,863)
Gross profit 271,903 259,295
Administrative expenses (252,128) (242,538)
Operating profit 19,775 16,757
Interest receivable 1,239 58
Profit before taxation 21,014 16,815
Tax on profit (4,338) (2,670)
Profit for the financial year 16,676 14,145
Sturmer Nurseries Limited
Registered number: 07443140
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 480,001 487,934
Current assets
Stocks 77,694 82,822
Debtors 4 3,532 4,413
Cash at bank and in hand 126,513 114,365
207,739 201,600
Creditors: amounts falling due within one year 5 (55,628) (62,936)
Net current assets 152,111 138,664
Total assets less current liabilities 632,112 626,598
Provisions for liabilities (8,671) (9,833)
Net assets 623,441 616,765
Capital and reserves
Called up share capital 100 100
Share premium 96,724 96,724
Profit and loss account 526,617 519,941
Shareholders' funds 623,441 616,765
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.
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.
Robert Mason
Director
Approved by the board on 7 March 2024
Sturmer Nurseries Limited
Statement of Changes in Equity
for the year ended 31 December 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 January 2022 100 96,724 - 515,796 612,620
Profit for the financial year 14,145 14,145
Dividends (10,000) (10,000)
At 31 December 2022 100 96,724 - 519,941 616,765
At 1 January 2023 100 96,724 - 519,941 616,765
Profit for the financial year 16,676 16,676
Dividends (10,000) (10,000)
At 31 December 2023 100 96,724 - 526,617 623,441
Sturmer Nurseries Limited
Notes to the Accounts
for the year ended 31 December 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 over its expected useful life, as follows:
Fixtures, fittings, tools and equipment at 15% p.a. on a reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 22 23
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 434,362 175,486 609,848
Additions - 120 120
At 31 December 2023 434,362 175,606 609,968
Depreciation
At 1 January 2023 - 121,914 121,914
Charge for the year - 8,053 8,053
At 31 December 2023 - 129,967 129,967
Net book value
At 31 December 2023 434,362 45,639 480,001
At 31 December 2022 434,362 53,572 487,934
4 Debtors 2023 2022
£ £
Other debtors 3,532 4,413
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 22,257 15,808
Directors' loans 780 13,760
Taxation and social security costs 22,990 23,792
Other creditors 9,601 9,576
55,628 62,936
6 Other information
Sturmer Nurseries Limited is a private company limited by shares and incorporated in England. Its registered office is:
Church Walk
Sturmer
Haverhill
CB9 7XD
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