Company registration number 03467115 (England and Wales)
PAPERMOON NURSERIES (GAMSTON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PAPERMOON NURSERIES (GAMSTON) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PAPERMOON NURSERIES (GAMSTON) LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
266,328
249,559
Current assets
Stocks
1,000
1,000
Debtors
4
358,642
528,645
Cash at bank and in hand
12,017
-
0
371,659
529,645
Creditors: amounts falling due within one year
5
(87,090)
(174,839)
Net current assets
284,569
354,806
Total assets less current liabilities
550,897
604,365
Creditors: amounts falling due after more than one year
6
(10,834)
(20,833)
Provisions for liabilities
(10,800)
-
0
Net assets
529,263
583,532
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
529,163
583,432
Total equity
529,263
583,532

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PAPERMOON NURSERIES (GAMSTON) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 October 2024 and are signed on its behalf by:
D Mayfield
Director
Company registration number 03467115 (England and Wales)
PAPERMOON NURSERIES (GAMSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Papermoon Nurseries (Gamston) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Lace Market Square, Nottingham, NG1 1PB. The company registration number is 03467115.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% and 4% straight line basis
Fixtures and fittings
10% straight line basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PAPERMOON NURSERIES (GAMSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
14
18
PAPERMOON NURSERIES (GAMSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
453,703
53,533
3,231
510,467
Additions
21,700
5,829
-
0
27,529
Disposals
-
0
-
0
(3,231)
(3,231)
At 30 April 2024
475,403
59,362
-
0
534,765
Depreciation and impairment
At 1 May 2023
211,123
46,641
3,144
260,908
Depreciation charged in the year
9,410
1,263
11
10,684
Eliminated in respect of disposals
-
0
-
0
(3,155)
(3,155)
At 30 April 2024
220,533
47,904
-
0
268,437
Carrying amount
At 30 April 2024
254,870
11,458
-
0
266,328
At 30 April 2023
242,580
6,892
87
249,559
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,864
1,836
Other debtors
355,778
526,809
358,642
528,645
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
36,003
Trade creditors
2,181
1,697
Corporation tax
-
0
12,286
Other taxation and social security
2,225
41,185
Other creditors
72,684
83,668
87,090
174,839
PAPERMOON NURSERIES (GAMSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,834
20,833
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
2,184
504
8
Related party transactions

The Company has taken advantage of the exemption in section FRS 102 Section 33.1A Related Party Disclosures from disclosing transactions entered into between two or more members of the group as all subsidiaries are wholly owned.

9
Parent company

The ultimate parent undertaking is Mayfield Estates (Portugal) Limited. The ultimate controlling party is D Mayfield.

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