Company registration number 04771385 (England and Wales)
WATERMEAD NURSERIES LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
WATERMEAD NURSERIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WATERMEAD NURSERIES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
38,979
42,833
Current assets
Stocks
1,500
1,500
Debtors
4
104,157
100,178
Cash at bank and in hand
399,129
176,375
504,786
278,053
Creditors: amounts falling due within one year
5
(314,452)
(256,646)
Net current assets
190,334
21,407
Total assets less current liabilities
229,313
64,240
Creditors: amounts falling due after more than one year
6
(20,000)
(50,000)
Provisions for liabilities
(5,571)
(5,694)
Net assets
203,742
8,546
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
203,642
8,446
Total equity
203,742
8,546
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 31 August 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.
WATERMEAD NURSERIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 19 March 2025
S L Allen
Director
Company Registration No. 04771385
WATERMEAD NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Watermead Nurseries Limited is a private company limited by shares incorporated in England and Wales. The registered office is Millennium House, 2 Watermead Lane, Loughborough, Leicestershire, LE11 3TN.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including 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. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for child care 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 measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10% Straight line
Fixtures and fittings
20% Reducing balance
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
1.5
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. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
WATERMEAD NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. 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.
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.
1.7
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
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 the profit and loss account 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 leased asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
56
54
WATERMEAD NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
3
Tangible fixed assets
Leasehold
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
106,903
95,428
202,331
Additions
5,078
5,078
At 31 August 2024
106,903
100,506
207,409
Depreciation and impairment
At 1 September 2023
86,847
72,651
159,498
Depreciation charged in the year
3,361
5,571
8,932
At 31 August 2024
90,208
78,222
168,430
Carrying amount
At 31 August 2024
16,695
22,284
38,979
At 31 August 2023
20,056
22,777
42,833
4
Debtors
2024
2023
Amounts falling due within one year
£
£
Other debtors
104,157
100,178
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
30,000
30,000
Trade creditors
7,138
36,825
Corporation tax
151,862
60,323
Other taxation and social security
15,845
18,264
Other creditors
109,607
111,234
314,452
256,646
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,000
50,000
WATERMEAD NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
60
60
60
60
Ordinary B Shares of £1 each
30
30
30
30
Ordinary C Shares of £1 each
10
10
10
10
100
100
100
100
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director
(96,688)
(328,172)
325,001
(99,859)
(96,688)
(328,172)
325,001
(99,859)
The director's loan account has been subsequently repaid at the date of approval of these accounts.