KEELEY NURSERY LIMITED
Registered number: 07407728
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 189,574 189,574
Tangible assets 4 312,339 298,227
501,913 487,801
Current assets
Trade Debtors 5 18,734 29,781
Cash at bank and in hand 150,480 40,904
169,214 70,685
Creditors: amounts falling due within one year 6 (459,953) (337,960)
Net current liabilities (290,739) (267,275)
Total assets less current liabilities 211,174 220,526
Creditors: amounts falling due after more than one year 7 (508,004) (551,292)
Net liabilities (296,830) (330,766)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (297,830) (331,766)
Shareholders' funds (296,830) (330,766)
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.
Mr. Mukesh Parekh
Director
Approved by the board on 15 December 2023
KEELEY NURSERY LIMITED
Notes to the Accounts
for the year ended 31 March 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.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 189,574
At 31 March 2023 189,574
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 189,574
At 31 March 2022 189,574
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Goodwill Total
£ £ £ £
Cost
At 1 April 2022 99,842 53,549 185,000 338,391
Additions - 14,112 - 14,112
At 31 March 2023 99,842 67,661 185,000 352,503
Depreciation
At 1 April 2022 - 40,164 - 40,164
At 31 March 2023 - 40,164 - 40,164
Net book value
At 31 March 2023 99,842 27,497 185,000 312,339
At 31 March 2022 99,842 13,385 185,000 298,227
5 Debtors 2023 2022
£ £
Trade debtors 8,234 19,281
Rent Deposit 10,500 10,500
18,734 29,781
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,645 2,782
Trade creditors 255,258 233,258
Directors account 18,950 -
Other taxes and social security costs 82,324 53,353
Other creditors 100,776 48,567
459,953 337,960
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,583 40,703
Loans and other creditors 478,421 510,589
508,004 551,292
8 Other information
KEELEY NURSERY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
22-30 Keeley House
Croydon
CR0 1TE
KEELEY NURSERY LIMITED 07407728 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 Mr. Mukesh Parekh No description of principal activity 07407728 2021-04-01 2022-03-31 07407728 core:WithinOneYear 2022-03-31 07407728 core:AfterOneYear 2022-03-31 07407728 core:ShareCapital 2022-03-31 07407728 core:RetainedEarningsAccumulatedLosses 2022-03-31 07407728 2022-04-01 2023-03-31 07407728 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07407728 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07407728 bus:Director40 2022-04-01 2023-03-31 07407728 1 2022-04-01 2023-03-31 07407728 2 2022-04-01 2023-03-31 07407728 core:LandBuildings 2022-04-01 2023-03-31 07407728 core:PlantMachinery 2022-04-01 2023-03-31 07407728 core:Vehicles 2022-04-01 2023-03-31 07407728 countries:England 2022-04-01 2023-03-31 07407728 bus:FRS102 2022-04-01 2023-03-31 07407728 bus:FullAccounts 2022-04-01 2023-03-31 07407728 2023-03-31 07407728 core:WithinOneYear 2023-03-31 07407728 core:AfterOneYear 2023-03-31 07407728 core:ShareCapital 2023-03-31 07407728 core:RetainedEarningsAccumulatedLosses 2023-03-31 07407728 core:Goodwill 2023-03-31 07407728 core:LandBuildings 2023-03-31 07407728 core:PlantMachinery 2023-03-31 07407728 core:Vehicles 2023-03-31 07407728 2022-03-31 07407728 core:Goodwill 2022-03-31 07407728 core:LandBuildings 2022-03-31 07407728 core:PlantMachinery 2022-03-31 07407728 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure