Registered number
08377937
MTO NURSERY LIMITED
Filleted Accounts
30 June 2024
MTO NURSERY LIMITED
Registered number: 08377937
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 112,663 127,221
Current assets
Debtors 4 70,387 66,421
Cash at bank and in hand 5,527 18,370
75,914 84,791
Creditors: amounts falling due within one year 5 (15,637) (90,053)
Net current assets/(liabilities) 60,277 (5,262)
Total assets less current liabilities 172,940 121,959
Creditors: amounts falling due after more than one year 6 (42,075) (54,793)
Net assets 130,865 67,166
Capital and reserves
Called up share capital 100 100
Share premium 49,900 49,900
Profit and loss account 80,865 17,166
Shareholders' funds 130,865 67,166
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.
Mr K Vasseghi
Director
Approved by the board on 22 May 2025
MTO NURSERY LIMITED
Notes to the Accounts
for the year ended 30 June 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:
Leasehold land and buildings over the lease term
Plant and machinery 20% on reducing balance
Fixtures, fittings, tools and equipment 20% on reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 19
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 98,639 38,185 149,616 286,440
At 30 June 2024 98,639 38,185 149,616 286,440
Depreciation
At 1 July 2023 19,540 28,493 111,186 159,219
Charge for the year 4,934 1,938 7,686 14,558
At 30 June 2024 24,474 30,431 118,872 173,777
Net book value
At 30 June 2024 74,165 7,754 30,744 112,663
At 30 June 2023 79,099 9,692 38,430 127,221
4 Debtors 2024 2023
£ £
Trade debtors 4,040 32,811
Other debtors 66,347 33,610
70,387 66,421
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - (273)
Trade creditors 22,515 2,204
Taxation and social security costs 165,446 92,282
Other creditors (172,324) (4,160)
15,637 90,053
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,333 37,500
Obligations under finance lease and hire purchase contracts 13,742 17,293
42,075 54,793
7 Other information
MTO NURSERY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Units 1 & 2
44-54 Coleridge Road
London
N8 8ED
MTO NURSERY LIMITED 08377937 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2025 Mr K Vasseghi No description of principal activity 08377937 2022-07-01 2023-06-30 08377937 core:WithinOneYear 2023-06-30 08377937 core:AfterOneYear 2023-06-30 08377937 core:ShareCapital 2023-06-30 08377937 core:SharePremium 2023-06-30 08377937 core:RetainedEarningsAccumulatedLosses 2023-06-30 08377937 2023-07-01 2024-06-30 08377937 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08377937 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08377937 bus:Director40 2023-07-01 2024-06-30 08377937 1 2023-07-01 2024-06-30 08377937 2 2023-07-01 2024-06-30 08377937 core:LandBuildings 2023-07-01 2024-06-30 08377937 core:PlantMachinery 2023-07-01 2024-06-30 08377937 core:Vehicles 2023-07-01 2024-06-30 08377937 countries:England 2023-07-01 2024-06-30 08377937 bus:FRS102 2023-07-01 2024-06-30 08377937 bus:FilletedAccounts 2023-07-01 2024-06-30 08377937 2024-06-30 08377937 core:WithinOneYear 2024-06-30 08377937 core:AfterOneYear 2024-06-30 08377937 core:ShareCapital 2024-06-30 08377937 core:SharePremium 2024-06-30 08377937 core:RetainedEarningsAccumulatedLosses 2024-06-30 08377937 core:LandBuildings 2024-06-30 08377937 core:PlantMachinery 2024-06-30 08377937 core:Vehicles 2024-06-30 08377937 2023-06-30 08377937 core:LandBuildings 2023-06-30 08377937 core:PlantMachinery 2023-06-30 08377937 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure