Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04317242 Mr Michael Eastwood Mrs Susan Eastwood iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04317242 2023-03-31 04317242 2024-03-31 04317242 2023-04-01 2024-03-31 04317242 frs-core:CurrentFinancialInstruments 2024-03-31 04317242 frs-core:Non-currentFinancialInstruments 2024-03-31 04317242 frs-core:FurnitureFittings 2024-03-31 04317242 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04317242 frs-core:FurnitureFittings 2023-03-31 04317242 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 04317242 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04317242 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 04317242 frs-core:MotorVehicles 2024-03-31 04317242 frs-core:MotorVehicles 2023-04-01 2024-03-31 04317242 frs-core:MotorVehicles 2023-03-31 04317242 frs-core:PlantMachinery 2024-03-31 04317242 frs-core:PlantMachinery 2023-04-01 2024-03-31 04317242 frs-core:PlantMachinery 2023-03-31 04317242 frs-core:RevaluationReserve 2023-04-01 2024-03-31 04317242 frs-core:RevaluationReserve 2023-03-31 04317242 frs-core:RevaluationReserve 2024-03-31 04317242 frs-core:SharePremium 2024-03-31 04317242 frs-core:ShareCapital 2024-03-31 04317242 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04317242 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04317242 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04317242 frs-bus:SmallEntities 2023-04-01 2024-03-31 04317242 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04317242 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04317242 frs-bus:Director1 2023-04-01 2024-03-31 04317242 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04317242 frs-countries:EnglandWales 2023-04-01 2024-03-31 04317242 2022-03-31 04317242 2023-03-31 04317242 2022-04-01 2023-03-31 04317242 frs-core:CurrentFinancialInstruments 2023-03-31 04317242 frs-core:Non-currentFinancialInstruments 2023-03-31 04317242 frs-core:RevaluationReserve 2023-03-31 04317242 frs-core:SharePremium 2023-03-31 04317242 frs-core:ShareCapital 2023-03-31 04317242 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04317242
Nursery Works Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Hennessey & Co
Accountants & Consultants
309 High Road
Benfleet
Essex
SS7 5HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04317242
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,226,275 1,152,435
1,226,275 1,152,435
CURRENT ASSETS
Debtors 5 325,186 344,450
Cash at bank and in hand 16,676 5,914
341,862 350,364
Creditors: Amounts Falling Due Within One Year 6 (449,282 ) (288,219 )
NET CURRENT ASSETS (LIABILITIES) (107,420 ) 62,145
TOTAL ASSETS LESS CURRENT LIABILITIES 1,118,855 1,214,580
Creditors: Amounts Falling Due After More Than One Year 7 (45,724 ) (89,834 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (62,110 ) (37,029 )
NET ASSETS 1,011,021 1,087,717
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Share premium account 24,000 24,000
Revaluation reserve 9 270,797 252,276
Profit and Loss Account 715,224 810,441
SHAREHOLDERS' FUNDS 1,011,021 1,087,717
Page 1
Page 2
For the year ending 31 March 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 Michael Eastwood
Director
19/09/2024
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
Nursery Works Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04317242 . The registered office is Nursery Works, 100 Little London Road, Sheffield, South Yorkshire, S8 0UJ.
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 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Leasehold 1% on Straight Line Basis.
Plant & Machinery 10 % on Straight Line Basis
Motor Vehicles 10 % on Straight Line Bais
Fixtures & Fittings 20 % on Straight Line Basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2023 1,046,517 144,373 48,024 4,540 1,243,454
Additions - - - 78,921 78,921
Revaluation 18,521 - - - 18,521
As at 31 March 2024 1,065,038 144,373 48,024 83,461 1,340,896
Depreciation
As at 1 April 2023 76,759 10,250 - 4,010 91,019
Provided during the period 10,442 7,702 4,802 656 23,602
As at 31 March 2024 87,201 17,952 4,802 4,666 114,621
Net Book Value
As at 31 March 2024 977,837 126,421 43,222 78,795 1,226,275
As at 1 April 2023 969,758 134,123 48,024 530 1,152,435
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 84,203 69,351
Prepayments and accrued income 7,170 9,375
VAT - 24,581
Amounts owed by group undertakings 233,813 241,143
325,186 344,450
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 75,305 115,079
Bank loans and overdrafts 53,523 53,523
Other taxes and social security 12,436 7,220
VAT 3,245 -
Net wages 44,317 403
Accruals and deferred income 30,524 66,969
Director's loan account 229,932 45,025
449,282 288,219
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 45,724 89,834
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Reserves
Revaluation Reserve
£
As at 1 April 2023 252,276
Surplus on revaluation 18,521
As at 31 March 2024 270,797
Page 5