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Registered number: 05812559
Salterforth Nurseries & Garden Centre Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05812559
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 118,464 111,221
118,464 111,221
CURRENT ASSETS
Stocks 6 32,391 40,759
Debtors 7 227 -
Cash at bank and in hand 57,332 46,729
89,950 87,488
Creditors: Amounts Falling Due Within One Year 8 (47,521 ) (56,257 )
NET CURRENT ASSETS (LIABILITIES) 42,429 31,231
TOTAL ASSETS LESS CURRENT LIABILITIES 160,893 142,452
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,416 ) (11,416 )
NET ASSETS 149,477 131,036
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 149,467 131,026
SHAREHOLDERS' FUNDS 149,477 131,036
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Michael Bradley
Director
29 May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Salterforth Nurseries & Garden Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05812559 . The registered office is Salterforth Garden Centre, Moor Lane, Salterforth, Barnoldswick, Lancashire, BB18 5SP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5%
Plant & Machinery 5%
Motor Vehicles 10%
Fixtures & Fittings 5%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 3)
4 3
4. Intangible Assets
Other
£
Cost
As at 1 April 2024 30,000
As at 31 March 2025 30,000
Amortisation
As at 1 April 2024 30,000
As at 31 March 2025 30,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2024 33,817 113,827 50,476 12,177 210,297
Additions - 16,905 - - 16,905
As at 31 March 2025 33,817 130,732 50,476 12,177 227,202
Depreciation
As at 1 April 2024 - 77,776 13,249 8,051 99,076
Provided during the period - 4,006 5,047 609 9,662
As at 31 March 2025 - 81,782 18,296 8,660 108,738
Net Book Value
As at 31 March 2025 33,817 48,950 32,180 3,517 118,464
As at 1 April 2024 33,817 36,051 37,227 4,126 111,221
Page 4
Page 5
6. Stocks
2025 2024
£ £
Stock 32,391 40,759
7. Debtors
2025 2024
£ £
Due within one year
VAT 227 -
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 4,008 10,307
Corporation tax 2,861 2,732
Other taxes and social security 694 528
VAT - 1,594
Accruals 985 1,065
Pension (Current liabilities - creditors < 1 year) 49 130
Sundry(Current liabilities - creditors < 1 year) 395 311
Director's loan account 38,529 39,590
47,521 56,257
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
Page 5