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Registered Number: 06342059
England and Wales

 

 

 

GRACE NURSERIES LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,426    1,902 
1,426    1,902 
Current assets      
Debtors: amounts falling due after one year   (1,162)
Cash at bank and in hand 21,814    53,380 
21,814    52,218 
Creditors: amount falling due within one year (14,217)   (8,576)
Net current assets 7,597    43,642 
 
Total assets less current liabilities 9,023    45,544 
Creditors: amount falling due after more than one year (100,105)   (110,317)
Net assets (91,082)   (64,773)
 

Capital and reserves
     
Called up share capital 30,000    30,000 
Profit and loss account (121,082)   (94,773)
Shareholders' funds (91,082)   (64,773)
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 06 May 2025 and were signed on its behalf by:


-------------------------------
Grace Akinnugba
Director
1
General Information
GRACE NURSERIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06342059, registration address 65 CLEMENCE ROAD, DAGENHAM, ESSEX, RM10 9YQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of  trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 September 2023 3,963    6,302    10,265 
Additions    
Disposals    
At 31 August 2024 3,963    6,302    10,265 
Depreciation
At 01 September 2023 3,963    4,400    8,363 
Charge for year   476    476 
On disposals    
At 31 August 2024 3,963    4,876    8,839 
Net book values
Closing balance as at 31 August 2024   1,426    1,426 
Opening balance as at 01 September 2023   1,902    1,902 


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