Company Registration No. 03620884 (England and Wales)
MORLEY NURSERIES (WAKERING) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2015
31 December 2015
MORLEY NURSERIES (WAKERING) LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
MORLEY NURSERIES (WAKERING) LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
623,432
327,528
Current assets
Stocks
414,625
401,716
Debtors
37,007
23,719
Cash at bank and in hand
88,634
206,171
540,266
631,606
Creditors: amounts falling due within one year
3
(371,074)
(325,729)
Net current assets
169,192
305,877
Total assets less current liabilities
792,624
633,405
Creditors: amounts falling due after more than one year
4
(222,459)
-
Provisions for liabilities
(20,000)
(11,300)
550,165
622,105
Capital and reserves
Called up share capital
5
100
100
Revaluation reserve
220,715
220,715
Profit and loss account
329,350
401,290
Shareholders' funds
550,165
622,105
MORLEY NURSERIES (WAKERING) LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 14 September 2016
RB Wright
Mrs L Wright
Director
Director
Company Registration No. 03620884
MORLEY NURSERIES (WAKERING) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets include fixed plant and equipment which is stated at its open market value at 15 June 2007 less depreciation. In the opinion of the directors, the treatment adopted in the financial statements is necessary in order to give a true and fair view. Other assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixed plant and equipment
0% to 15% reducing balance
Plant and machinery
15% reducing balance
Motor vehicles
25% of reducing balance
1.4
Stock
Stock is valued at the lower of cost and net realisable value less provision for slow moving and obsolete stock.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
MORLEY NURSERIES (WAKERING) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 January 2015
540,945
Additions
368,773
At 31 December 2015
909,718
Depreciation
At 1 January 2015
213,417
Charge for the year
72,869
At 31 December 2015
286,286
Net book value
At 31 December 2015
623,432
At 31 December 2014
327,528
3
Creditors: amounts falling due within one year
The company's overdraft facility is secured on the assets of the company. The maximum liability of this guarantee is £
15
0,000
(2014 £150,000)
.
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Total amounts repayable by instalments which are due in more than five years
(122,543)
-
The aggregate amount of creditors for which security has been given amounted to £251,943 (2014 - £0).
The Bank loan is secured on part of the property from which the company operates.
MORLEY NURSERIES (WAKERING) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 5 -
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
30 Ordinary A shares of £1 each
30
30
30 Ordinary B shares of £1 each
30
30
15 Ordinary C shares of £1 each
15
15
10 Ordinary D shares of £1 each
10
10
5 Ordinary E shares of £1 each
5
5
5 Ordinary F shares of £1 each
5
5
5 Ordinary G shares of £1 each
5
5
100
100
2015-12-31
2015-01-01
false
true
true
true
true
true
tmp8AA4.html
2016-09-15
03620884
2015-01-01
2015-12-31
03620884
2015-12-31
03620884
2014-12-31
03620884
2014-12-31
03620884
uk-bus:Director2
2015-01-01
2015-12-31
03620884
uk-bus:Director3
2015-01-01
2015-12-31
03620884
uk-gaap:LandBuildings
2015-01-01
2015-12-31
03620884
uk-gaap:PlantMachinery
2015-01-01
2015-12-31
03620884
uk-gaap:MotorVehicles
2015-01-01
2015-12-31
xbrli:pure
xbrli:shares
iso4217:GBP