Registered number
00627001
M.K.M. NURSERIES LIMITED
Filleted Accounts
31 January 2024
M.K.M. NURSERIES LIMITED
Registered number: 00627001
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 728,198 728,265
728,198 728,265
Current assets
Debtors 4 32,586 31,296
Cash at bank and in hand 310,096 241,283
342,682 272,579
Creditors: amounts falling due within one year 5 (46,366) (16,723)
Net current assets 296,316 255,856
Total assets less current liabilities 1,024,514 984,121
Net assets 1,024,514 984,121
Capital and reserves
Called up share capital 450 450
Revaluation reserve 6 638,951 638,951
Profit and loss account 385,113 344,720
Shareholders' funds 1,024,514 984,121
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Fabienne Canale Valerie Canale
Director Director
Approved by the board on 2 October 2024 Approved by the board on 2 October 2024
M.K.M. NURSERIES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixtures & Fittings Total
£ £ £ £
Cost
At 1 February 2023 728,000 81,501 62,558 872,059
Additions - - - -
At 31 January 2024 728,000 81,501 62,558 872,059
Depreciation
At 1 February 2023 - 81,246 62,548 143,794
Charge for the year - 64 3 67
At 31 January 2024 - 81,310 62,551 143,861
Net book value
At 31 January 2024 728,000 191 7 728,198
At 31 January 2023 728,000 255 10 728,265
4 Debtors 2024 2023
£ £
Other debtors 32,586 31,296
32,586 31,296
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation Tax 9,497 9,533
Taxation and social security costs 300 300
Other creditors 36,569 6,890
46,366 16,723
6 Revaluation reserve 2024 2023
£ £
At 1 February 2023 638,951 638,951
At 31 January 2024 638,951 638,951
7 Other information
M.K.M. NURSERIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
H Plaskow & Co
Chartered Certified Accountants
208 Green Lanes
Palmers Green
London
N13 5UE
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