The profit and loss account and related notes have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to small companies subject to the small companies regime.
Davies Brothers Nursery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 December 2016 are the first financial statements of Davies Brothers Nursery Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
The company and its subsidiaries combined meet the size exemption criteria for a group and the company is therefore exempt from the requirement to prepare consolidated financial statements by virtue of Section 479 of the Companies Act 2006. Consequently, these financial statements deal with the results of the company as a single entity.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .
Investments in subsidiary undertakings are shown at historical cost less provision for impairments in value.
Details of the company's subsidiaries at 31 December 2016 are as follows:
The following directors received dividends of £168,120 (2015: £163,080)
R J Davies £24,480 (2015: £23,940)
R E Davies £24,480 (2015: £23,940)
MS Davies £24,480 (2015: £23,940)
B M Davies £30,600 (2015: £ 30,420)
M Davies £30,420 (2015: £30,240)
S R Davies £33,660 (2015: £30,240).
The company traded from a property owned by a partnership where the partners are R J Davies, R E Davies and M S Davies. The rent paid during the year totalled £4,200 (2015: £4,200).