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REGISTERED NUMBER: 06294481 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Chapmans Nurseries Ltd

Chapmans Nurseries Ltd (Registered number: 06294481)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Chapmans Nurseries Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: K Jenkinson





SECRETARY: Mrs D Carter





REGISTERED OFFICE: Chapmans Nurseries
Burton Road
Rosliston
Swadlincote
Derbyshire
DE12 8JX





REGISTERED NUMBER: 06294481 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

Chapmans Nurseries Ltd (Registered number: 06294481)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,881 44,051
37,881 44,051

CURRENT ASSETS
Stocks 400,000 388,000
Debtors 6 345 737
Cash at bank and in hand 26,336 7,180
426,681 395,917
CREDITORS
Amounts falling due within one year 7 233,069 196,191
NET CURRENT ASSETS 193,612 199,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,493

243,777

CREDITORS
Amounts falling due after more than
one year

8

(116,838

)

(130,395

)

PROVISIONS FOR LIABILITIES 10 (2,928 ) (2,827 )
NET ASSETS 111,727 110,555

Chapmans Nurseries Ltd (Registered number: 06294481)

Statement of Financial Position - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Share premium 149,878 149,878
Retained earnings (38,251 ) (39,423 )
SHAREHOLDERS' FUNDS 111,727 110,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





K Jenkinson - Director


Chapmans Nurseries Ltd (Registered number: 06294481)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Chapmans Nurseries Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents sales of goods in the normal course of business, net of discounts, value added tax and other sales taxes. Sales of goods are recognised when title has passed to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Retail shop - 10% on reducing balance
Implements & equipment - 20% on reducing balance
Installations - 10% on reducing balance
Motor vehicles & tractors - 25% on reducing balance
Computer equipment - Straight line over 3 years

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Chapmans Nurseries Ltd (Registered number: 06294481)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Creditors
Short term creditors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

Chapmans Nurseries Ltd (Registered number: 06294481)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 35,427
AMORTISATION
At 1 January 2023
and 31 December 2023 35,427
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Retail Implements
shop & equipment Installations
£    £    £   
COST
At 1 January 2023 66,603 29,021 79,649
Disposals - - -
At 31 December 2023 66,603 29,021 79,649
DEPRECIATION
At 1 January 2023 53,337 25,359 61,002
Charge for year 1,327 732 1,865
Eliminated on disposal - - -
At 31 December 2023 54,664 26,091 62,867
NET BOOK VALUE
At 31 December 2023 11,939 2,930 16,782
At 31 December 2022 13,266 3,662 18,647

Chapmans Nurseries Ltd (Registered number: 06294481)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Computer
& tractors equipment Totals
£    £    £   
COST
At 1 January 2023 36,896 1,591 213,760
Disposals - (642 ) (642 )
At 31 December 2023 36,896 949 213,118
DEPRECIATION
At 1 January 2023 29,021 990 169,709
Charge for year 1,969 277 6,170
Eliminated on disposal - (642 ) (642 )
At 31 December 2023 30,990 625 175,237
NET BOOK VALUE
At 31 December 2023 5,906 324 37,881
At 31 December 2022 7,875 601 44,051

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Prepayments 345 737

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 14,371 15,058
Trade creditors 150,380 120,553
Corporation tax 1,577 -
Social security and other taxes 1,498 1,580
VAT 10,847 4,173
Directors' current accounts 52,431 52,431
Accrued expenses 1,965 2,396
233,069 196,191

Chapmans Nurseries Ltd (Registered number: 06294481)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 46,290 54,600
Bank loans more than 5 years 70,548 75,795
116,838 130,395

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 70,548 75,795

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 131,209 145,453

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 2,928 2,827

Deferred
tax
£   
Balance at 1 January 2023 2,827
Accelerated capital allowances 101
Balance at 31 December 2023 2,928

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary 1 100 100