17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,700 3,990 570 4,560 1,140 1,710 xbrli:pure xbrli:shares iso4217:GBP SC452709 2023-04-01 2024-03-31 SC452709 2024-03-31 SC452709 2023-03-31 SC452709 2022-04-01 2023-03-31 SC452709 2023-03-31 SC452709 2022-03-31 SC452709 core:NetGoodwill 2023-04-01 2024-03-31 SC452709 core:PlantMachinery 2023-04-01 2024-03-31 SC452709 core:FurnitureFittings 2023-04-01 2024-03-31 SC452709 core:MotorVehicles 2023-04-01 2024-03-31 SC452709 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC452709 bus:Director1 2023-04-01 2024-03-31 SC452709 core:NetGoodwill 2023-03-31 SC452709 core:NetGoodwill 2024-03-31 SC452709 core:PlantMachinery 2023-03-31 SC452709 core:FurnitureFittings 2023-03-31 SC452709 core:MotorVehicles 2023-03-31 SC452709 core:PlantMachinery 2024-03-31 SC452709 core:FurnitureFittings 2024-03-31 SC452709 core:MotorVehicles 2024-03-31 SC452709 core:WithinOneYear 2024-03-31 SC452709 core:WithinOneYear 2023-03-31 SC452709 core:AfterOneYear 2024-03-31 SC452709 core:AfterOneYear 2023-03-31 SC452709 core:ShareCapital 2024-03-31 SC452709 core:ShareCapital 2023-03-31 SC452709 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC452709 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC452709 core:BetweenOneFiveYears 2024-03-31 SC452709 core:BetweenOneFiveYears 2023-03-31 SC452709 core:MoreThanFiveYears 2024-03-31 SC452709 core:NetGoodwill 2023-03-31 SC452709 core:PlantMachinery 2023-03-31 SC452709 core:FurnitureFittings 2023-03-31 SC452709 core:MotorVehicles 2023-03-31 SC452709 bus:SmallEntities 2023-04-01 2024-03-31 SC452709 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC452709 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC452709 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC452709 bus:FullAccounts 2023-04-01 2024-03-31 SC452709 bus:OrdinaryShareClass1 2024-03-31 SC452709 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: SC452709
Balgillo Nurseries Dundee Limited
Filleted Unaudited Financial Statements
31 March 2024
Balgillo Nurseries Dundee Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Balgillo Nurseries Dundee Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
1,140
1,710
Tangible assets
6
29,362
35,448
--------
--------
30,502
37,158
Current assets
Debtors
7
28,226
27,288
Cash at bank and in hand
172,906
206,413
---------
---------
201,132
233,701
Creditors: amounts falling due within one year
8
41,200
44,946
---------
---------
Net current assets
159,932
188,755
---------
---------
Total assets less current liabilities
190,434
225,913
Creditors: amounts falling due after more than one year
9
19,030
21,784
---------
---------
Net assets
171,404
204,129
---------
---------
Capital and reserves
Called up share capital
11
2
2
Profit and loss account
171,402
204,127
---------
---------
Shareholders funds
171,404
204,129
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Balgillo Nurseries Dundee Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 9 October 2024 , and are signed on behalf of the board by:
Mrs P. S. Gall
Director
Company registration number: SC452709
Balgillo Nurseries Dundee Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 56 Torridon Road, Broughty Ferry, Dundee, DD5 3HB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed that the company has adequate resources to meet the ongoing costs of the business for the foreseeable future. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangible assets
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tenants improvements
-
10% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
20% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 18 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
5,700
-------
Amortisation
At 1 April 2023
3,990
Charge for the year
570
-------
At 31 March 2024
4,560
-------
Carrying amount
At 31 March 2024
1,140
-------
At 31 March 2023
1,710
-------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
30,445
31,726
31,480
93,651
--------
--------
--------
--------
Depreciation
At 1 April 2023
18,650
28,220
11,333
58,203
Charge for the year
1,180
877
4,029
6,086
--------
--------
--------
--------
At 31 March 2024
19,830
29,097
15,362
64,289
--------
--------
--------
--------
Carrying amount
At 31 March 2024
10,615
2,629
16,118
29,362
--------
--------
--------
--------
At 31 March 2023
11,795
3,506
20,147
35,448
--------
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
3,392
9,635
Other debtors
24,834
17,653
--------
--------
28,226
27,288
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
606
Corporation tax
20,385
29,862
Social security and other taxes
10,513
1,629
Other creditors
10,302
12,849
--------
--------
41,200
44,946
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
19,030
21,784
--------
--------
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2024
2023
£
£
Not later than 1 year
2,754
2,754
Later than 1 year and not later than 5 years
19,030
21,784
--------
--------
21,784
24,538
--------
--------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.01 each
200
2
200
2
----
----
----
----
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
53,300
46,100
Later than 1 year and not later than 5 years
168,492
61,592
Later than 5 years
8,700
---------
---------
230,492
107,692
---------
---------
13. Transactions with directors
The company was under the control of Mrs K Lee and Mrs P Gall throughout the current and previous year.