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Registered number: 05362807
Ince Blundell Nurseries Limited
Financial Statements
For The Year Ended 31 January 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05362807
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 39,840 46,480
Tangible Assets 5 4,072 4,805
43,912 51,285
CURRENT ASSETS
Stocks 6 28,265 27,801
Debtors 7 125,294 95,370
Cash at bank and in hand 37,117 49,249
190,676 172,420
Creditors: Amounts Falling Due Within One Year 8 (85,208 ) (54,649 )
NET CURRENT ASSETS (LIABILITIES) 105,468 117,771
TOTAL ASSETS LESS CURRENT LIABILITIES 149,380 169,056
NET ASSETS 149,380 169,056
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 149,379 169,055
SHAREHOLDERS' FUNDS 149,380 169,056
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J L Heaton
Director
20th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ince Blundell Nurseries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05362807 . The registered office is Tristrams Farm, Ladygreen Lane, Ince Blundell, Liverpool, L38 1QD. The financial statements are presented in the company's presentation currency of GBP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 25 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 166,000
As at 31 January 2024 166,000
Amortisation
As at 1 February 2023 119,520
Impairment losses 6,640
As at 31 January 2024 126,160
Net Book Value
As at 31 January 2024 39,840
As at 1 February 2023 46,480
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 16,869 33,487 50,356
As at 31 January 2024 16,869 33,487 50,356
Depreciation
As at 1 February 2023 16,752 28,799 45,551
Provided during the period 30 703 733
As at 31 January 2024 16,782 29,502 46,284
Net Book Value
As at 31 January 2024 87 3,985 4,072
As at 1 February 2023 117 4,688 4,805
6. Stocks
2024 2023
£ £
Stock 28,265 27,801
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,096 328
Other debtors 124,198 95,042
125,294 95,370
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,192 22,685
Other creditors 44,324 23,377
Taxation and social security 10,692 8,587
85,208 54,649
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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