Company registration number 08422908 (England and Wales)
DAVIES BROTHERS NURSERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
44,806
51,768
Investments
5
100
100
44,907
51,869
Current assets
Stocks
6,830
31,968
Debtors
6
994,545
978,400
Cash at bank and in hand
2,981,457
2,365,426
3,982,832
3,375,794
Creditors: amounts falling due within one year
7
(790,951)
(748,316)
Net current assets
3,191,881
2,627,478
Total assets less current liabilities
3,236,788
2,679,347
Provisions for liabilities
8
(10,995)
(9,836)
Net assets
3,225,793
2,669,511
Capital and reserves
Called up share capital
10
120
120
Profit and loss reserves
3,225,673
2,669,391
Total equity
3,225,793
2,669,511
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 2023 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.
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.
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 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 April 2024 and are signed on its behalf by:
R J Davies
Director
Company Registration No. 08422908
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 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 amounts 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 2023
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 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
11
8
3
Intangible fixed assets
Total
£
Cost
At 1 January 2023 and 31 December 2023
151,250
Amortisation and impairment
At 1 January 2023 and 31 December 2023
151,249
Carrying amount
At 31 December 2023
1
At 31 December 2022
1
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
113,838
58,417
37,595
209,850
Additions
1,162
1,162
At 31 December 2023
113,838
59,579
37,595
211,012
Depreciation and impairment
At 1 January 2023
84,444
38,802
34,836
158,082
Depreciation charged in the year
4,410
3,024
690
8,124
At 31 December 2023
88,854
41,826
35,526
166,206
Carrying amount
At 31 December 2023
24,984
17,753
2,069
44,806
At 31 December 2022
29,394
19,615
2,759
51,768
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
992,203
977,203
Other debtors
2,342
1,197
994,545
978,400
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
71,095
71,112
Corporation tax
122,011
79,157
Other taxation and social security
53,525
54,013
Other creditors
544,320
544,034
790,951
748,316
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
9
10,995
9,836
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
10,995
9,836
DAVIES BROTHERS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
9
Deferred taxation
(Continued)
- 7 -
2023
Movements in the year:
£
Liability at 1 January 2023
9,836
Charge to profit or loss
1,159
Liability at 31 December 2023
10,995
10
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
"A' Ordinary shares of £1 each
20
20
20
20
''B' Oridnary shares of £1 each
20
20
20
20
''C' Ordinary shares of £1 each
20
20
20
20
"D' Ordinary shares of £1 each
20
20
20
20
"E' Ordinary shares of £1 each
20
20
20
20
"F' Ordinary shares of £1 each
20
20
20
20
120
120
120
120
Refer to Companies House for full details of each class of shares.
11
Related party transactions
Included in other creditors is an amount of £458,095 (2022: £458,095) due to the directors as at the balance sheet date.
Included in other creditors is an amount of £81,089 (2022: £81,089) due to Executors of the Estate of R E Davies.
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