Company Registration No. 08422908 (England and Wales)
DAVIES BROTHERS NURSERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
DAVIES BROTHERS NURSERY LIMITED
COMPANY INFORMATION
Directors
M S Davies
R J Davies
S R Davies
B M Davies
M Davies
Company number
08422908
Registered office
166 College Road
Harrow
Middlesex
HA1 1RA
Accountants
Charterhouse (Accountants) Limited
166 College Road
Harrow
Middlesex
HA1 1RA
DAVIES BROTHERS NURSERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DAVIES BROTHERS NURSERY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
66,922
73,985
Investments
5
100
100
67,023
74,086
Current assets
Stocks
6,470
6,370
Debtors
6
968,490
953,507
Cash at bank and in hand
1,479,397
1,162,737
2,454,357
2,122,614
Creditors: amounts falling due within one year
7
(915,626)
(953,268)
Net current assets
1,538,731
1,169,346
Total assets less current liabilities
1,605,754
1,243,432
Provisions for liabilities
(12,616)
(16,733)
Net assets
1,593,138
1,226,699
Capital and reserves
Called up share capital
9
120
120
Profit and loss reserves
1,593,018
1,226,579
Total equity
1,593,138
1,226,699
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime
.
DAVIES BROTHERS NURSERY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2020
31 December 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 September 2021 and are signed on its behalf by:
M S Davies
Director
Company Registration No. 08422908
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 3 -
1
Accounting policies
Company information
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.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Income is recognised in the period to which it relates.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.
1.4
Tangible fixed assets
Tangible fixed assets
are measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
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
.
1.5
Fixed asset investments
Investments in subsidiary undertakings are shown at historical cost less provision for impairments in value.
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Stocks
Stocks
are stated at the lower of cost and
estimated selling price less costs to complete and sell.
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs
. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a
financing transaction.
Financial liabilities classified as payable within one year are not amortised.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Retirement benefits
The company operates a defined contribution
retirement benefit
scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.11
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
9
10
3
Intangible fixed assets
Total
£
Cost
At 1 January 2020 and 31 December 2020
151,250
Amortisation and impairment
At 1 January 2020 and 31 December 2020
151,249
Carrying amount
At 31 December 2020
1
At 31 December 2019
1
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2020
109,638
52,900
37,595
200,133
Additions
5,517
5,517
At 31 December 2020
109,638
58,417
37,595
205,650
Depreciation and impairment
At 1 January 2020
68,613
26,480
31,055
126,148
Depreciation charged in the year
6,155
4,790
1,635
12,580
At 31 December 2020
74,768
31,270
32,690
138,728
Carrying amount
At 31 December 2020
34,870
27,147
4,905
66,922
At 31 December 2019
41,025
26,420
6,540
73,985
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 6 -
5
Fixed asset investments
2020
2019
£
£
Investments in group undertakings
100
100
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2020 & 31 December 2020
100
Carrying amount
At 31 December 2020
100
At 31 December 2019
100
6
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
967,203
952,203
Other debtors
1,287
1,304
968,490
953,507
7
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
89,832
47,076
Corporation tax
125,523
124,680
Other taxation and social security
46,519
49,167
Other creditors
653,752
732,345
915,626
953,268
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 7 -
8
Provisions for liabilities
2020
2019
£
£
Deferred tax liabilities
12,616
16,733
9
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
20 "A' Ordinary shares of £1 each
20
20
20 ''B' Oridnary shares of £1 each
20
20
20 ''C' Ordinary shares of £1 each
20
20
20 "D' Ordinary shares of £1 each
20
20
20 "E' Ordinary shares of £1 each
20
20
20 "F' Ordinary shares of £1 each
20
20
120
120
10
Related party transactions
Included in other creditors is an amount
of £
638,485
(201
9
: £7
27
,9
85
) due to the directors as at the balance sheet date
.
2020-12-31
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false
08 September 2021
CCH Software
CCH Accounts Production 2021.111
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M S Davies
R E Davies
R J Davies
S R Davies
B M Davies
M Davies
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