Company registration number 04885570 (England and Wales)
PAPERMOON NURSERIES (BOULTHAM PARK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PAPERMOON NURSERIES (BOULTHAM PARK) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PAPERMOON NURSERIES (BOULTHAM PARK) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
202,768
199,745
Current assets
Stocks
1,000
1,000
Debtors
4
90,617
112,973
Cash at bank and in hand
1,674
275
93,291
114,248
Creditors: amounts falling due within one year
5
(56,177)
(81,574)
Net current assets
37,114
32,674
Total assets less current liabilities
239,882
232,419
Creditors: amounts falling due after more than one year
6
(10,833)
(20,833)
Provisions for liabilities
(269)
(584)
Net assets
228,780
211,002
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
228,680
210,902
Total equity
228,780
211,002
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 (BOULTHAM PARK) 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 04885570 (England and Wales)
PAPERMOON NURSERIES (BOULTHAM PARK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Papermoon Nurseries (Boultham Park) 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 04885570.
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% straight line
Fixtures and fittings
25% reducing balance
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.
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.
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.
PAPERMOON NURSERIES (BOULTHAM PARK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
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
11
12
PAPERMOON NURSERIES (BOULTHAM PARK) 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
Total
£
£
£
Cost
At 1 May 2023
276,787
20,426
297,213
Additions
4,980
5,730
10,710
At 30 April 2024
281,767
26,156
307,923
Depreciation and impairment
At 1 May 2023
81,397
16,071
97,468
Depreciation charged in the year
5,619
2,068
7,687
At 30 April 2024
87,016
18,139
105,155
Carrying amount
At 30 April 2024
194,751
8,017
202,768
At 30 April 2023
195,390
4,355
199,745
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
959
2,705
Other debtors
89,658
110,268
90,617
112,973
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
34,448
Trade creditors
1,625
1,513
Corporation tax
16,403
12,846
Other taxation and social security
8,500
16,743
Other creditors
1,594
230
Accruals and deferred income
18,055
15,794
56,177
81,574
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
10,833
20,833
PAPERMOON NURSERIES (BOULTHAM PARK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
7
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.
8
Parent company
The ultimate party undertaking is Mayfield Estates (Portugal) Limited. The ultimate controlling party is D Mayfield.