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REGISTERED NUMBER: 00401334 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PAYNES NURSERIES (TOWCESTER) LIMITED

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PAYNES NURSERIES (TOWCESTER) LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: I T Morgan
P R Morgan





SECRETARY: I T Morgan





REGISTERED OFFICE: 194 Watling Street East
Towcester
Northamptonshire
NN12 6DB





REGISTERED NUMBER: 00401334 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 60,000 3,044

CURRENT ASSETS
Debtors 5 9,040 8,653
Cash at bank 20,402 14,787
29,442 23,440
CREDITORS
Amounts falling due within one year 6 (13,005 ) (14,874 )
NET CURRENT ASSETS 16,437 8,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,437

11,610

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 75,937 11,110
SHAREHOLDERS' FUNDS 76,437 11,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





I T Morgan - Director


PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Paynes Nurseries (Towcester) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00401334 and the registered office address is 194 Watling Street East, Towcester, Northamptonshire, England, NN12 6DB.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentational currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant & Machinery25%On reducing balance
Fixtures & Fittings15%On reducing balance

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold land
Individual freehold and leasehold land and properties are stated at fair value at the date of the revaluation less any subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or direct in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowance have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
land & Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2023 3,000 12,261 2,895 18,156
Disposals - (12,261 ) (2,895 ) (15,156 )
Revaluations 57,000 - - 57,000
At 30 September 2024 60,000 - - 60,000
DEPRECIATION
At 1 October 2023 - 12,243 2,869 15,112
Eliminated on disposal - (12,243 ) (2,869 ) (15,112 )
At 30 September 2024 - - - -
NET BOOK VALUE
At 30 September 2024 60,000 - - 60,000
At 30 September 2023 3,000 18 26 3,044

PAYNES NURSERIES (TOWCESTER) LIMITED (REGISTERED NUMBER: 00401334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Freehold
land &
buildings
£   
Valuation in 2024 60,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,500
Other debtors 9,040 7,153
9,040 8,653

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 405
Other creditors 13,005 14,469
13,005 14,874