2022-12-012023-11-302023-11-30false08656639Pine Tree Nurseries 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Pine Tree Nurseries Limited

Registered Number
08656639
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Pine Tree Nurseries Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Duncan Wilson
Lynne Wilson

Registered Address

C/O Saint & Co 4 Mason Court
Gillan Way, Penrith 40 Business Park
Penrith
CA11 9GR

Place of Business

Pine Tree Nurseries

Glassonby

Penrith

CA10 1DZ


Registered Number

08656639 (England and Wales)
Pine Tree Nurseries Limited
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets38,37112,781
8,37112,781
Current assets
Stocks525,47727,695
Cash at bank and on hand27,6989,899
53,17537,594
Creditors amounts falling due within one year6(95,213)(96,118)
Net current assets (liabilities)(42,038)(58,524)
Total assets less current liabilities(33,667)(45,743)
Net assets(33,667)(45,743)
Capital and reserves
Called up share capital22
Profit and loss account(33,669)(45,745)
Shareholders' funds(33,667)(45,743)
The financial statements were approved and authorised for issue by the Board of Directors on 9 August 2024, and are signed on its behalf by:
Duncan Wilson
Director
Lynne Wilson
Director

Registered Company No. 08656639
Pine Tree Nurseries Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The balance sheet indicates a net deficit of £33,667. However, the accounts have been prepared on a going concern basis on the grounds that the directors have continued to offer their full support to the company since the year end.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue from sale of goods
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land and buildings - 10% straight line Plant and machinery - 20% reducing balance Motor vehicles - 15% straight line Equipment - 25% straight line
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in notes. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 December 2222,29712,82918,35082454,300
Additions-1,208--1,208
At 30 November 2322,29714,03718,35082455,508
Depreciation and impairment
At 01 December 2220,06910,9969,86459041,519
Charge for year2,2295032,7531335,618
At 30 November 2322,29811,49912,61772347,137
Net book value
At 30 November 23(1)2,5385,7331018,371
At 30 November 222,2281,8338,48623412,781
4.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
5.Stocks

2023

2022

££
Other stocks25,47727,695
Total25,47727,695
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1271,804
Taxation and social security4,715875
Other creditors89,14792,213
Accrued liabilities and deferred income1,2241,226
Total95,21396,118
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.