Company registration number 04051776 (England and Wales)
VILLAGE NURSERIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
VILLAGE NURSERIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VILLAGE NURSERIES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
100,409
111,453
Current assets
Cash at bank and in hand
213,338
158,205
Creditors: amounts falling due within one year
4
(41,547)
(39,233)
Net current assets
171,791
118,972
Total assets less current liabilities
272,200
230,425
Provisions for liabilities
(3,733)
(472)
Net assets
268,467
229,953
Capital and reserves
Called up share capital
10,000
10,000
Share premium account
2,500
2,500
Profit and loss reserves
255,967
217,453
Total equity
268,467
229,953
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 14 January 2025 and are signed on its behalf by:
Mr N Parry
Mrs R Parry
Director
Director
Company registration number 04051776 (England and Wales)
VILLAGE NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Village Nurseries Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Samuels LLP, 3 Locks Yard, High Street, Sevenoaks, Kent, TN13 1LT.
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 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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:
Leasehold land and buildings
Straight line over 25 years
Fixtures and fittings
20% on reducing balance
Computers
20% on reducing balance
1.4
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.
VILLAGE NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Hire Purchase and leasing commitments
Rental Paid under operating lease are charged to profit or loss on a straight line basis over the period of the lease.
1.6
Pension costs and other post-retirement benefits
The Company operates defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
23
29
VILLAGE NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
213,696
163,165
376,861
Additions
1,237
1,237
At 31 August 2024
213,696
164,402
378,098
Depreciation and impairment
At 1 September 2023
119,671
145,737
265,408
Depreciation charged in the year
8,548
3,733
12,281
At 31 August 2024
128,219
149,470
277,689
Carrying amount
At 31 August 2024
85,477
14,932
100,409
At 31 August 2023
94,025
17,428
111,453
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,473
Corporation tax
32,329
21,304
Other taxation and social security
3,344
3,209
Other creditors
5,874
6,247
41,547
39,233