Company registration number 07244024 (England and Wales)
THREE GABLES NURSERIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
THREE GABLES NURSERIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
THREE GABLES NURSERIES LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
36,000
45,000
Tangible assets
4
114,548
120,927
150,548
165,927
Current assets
Debtors
5
554,014
442,049
Cash at bank and in hand
175,542
127,672
729,556
569,721
Creditors: amounts falling due within one year
6
(629,045)
(466,336)
Net current assets
100,511
103,385
Total assets less current liabilities
251,059
269,312
Creditors: amounts falling due after more than one year
7
(18,210)
(36,805)
Provisions for liabilities
(3,797)
(3,435)
Net assets
229,052
229,072
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
228,952
228,972
Total equity
229,052
229,072

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

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

THREE GABLES NURSERIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 February 2025 and are signed on its behalf by:
Mr Richard Grafham
Director
Company registration number 07244024 (England and Wales)
THREE GABLES NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Three Gables Nurseries Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

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.

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
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
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 improvements
5% straight line
Plant and equipment
33% straight line
Fixtures and fittings
25% reducing balance
Office equipment
33% straight line

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.

1.5
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

THREE GABLES NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.7
Taxation
Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, 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

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.

1.8
Retirement benefits

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

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2024
2023
Number
Number
Total
44
43
THREE GABLES NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
190,000
Amortisation and impairment
At 1 June 2023
145,000
Amortisation charged for the year
9,000
At 31 May 2024
154,000
Carrying amount
At 31 May 2024
36,000
At 31 May 2023
45,000
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Office equipment
Total
£
£
£
£
£
Cost
At 1 June 2023
156,461
22,157
119,431
19,438
317,487
Additions
-
0
6,448
1,703
1,700
9,851
At 31 May 2024
156,461
28,605
121,134
21,138
327,338
Depreciation and impairment
At 1 June 2023
49,276
19,383
109,885
18,016
196,560
Depreciation charged in the year
7,823
4,113
2,813
1,481
16,230
At 31 May 2024
57,099
23,496
112,698
19,497
212,790
Carrying amount
At 31 May 2024
99,362
5,109
8,436
1,641
114,548
At 31 May 2023
107,185
2,774
9,546
1,422
120,927
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,981
6,239
Other debtors
550,033
435,810
554,014
442,049
THREE GABLES NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
53,858
18,513
Trade creditors
26,731
43,138
Taxation and social security
119,838
82,816
Other creditors
428,618
321,869
629,045
466,336

The directors have provided a personal guarantee against the company's borrowings and there is also a charge over the company's assets.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,210
36,805

The directors have provided a personal guarantee against the company's borrowings and there is also a charge over the company's assets.

8
Operating lease commitments
Lessee

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

2024
2023
£
£
Within one year
117,000
117,000
Between two and five years
468,000
468,000
In over five years
708,000
825,000
1,293,000
1,410,000
THREE GABLES NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors loan
2.25
416,113
254,793
10,633
(143,187)
538,352
416,113
254,793
10,633
(143,187)
538,352

The above loan is repayable on demand.

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