Keys Brothers Horticulture Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI620136 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Keys Brothers Horticulture Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Keys

I Keys

REGISTERED OFFICE:

125 Comber Road

Hillsborough

Down

BT26 6NA

REGISTERED NUMBER:

NI620136 (Northern Ireland)

ACCOUNTANTS:

ASC Wylie

Chartered Accountants

7 Lisburn Street

Hillsborough

Down

BT26 6AB

FIXED ASSETS

Tangible assets

4

73,074

64,747

CURRENT ASSETS

Stocks

95,400

85,870

Debtors

5

127,664

116,475

Cash at bank and in hand

16,680

20,529

239,744

222,874

CREDITORS

Amounts falling due within one year

6

151,362

170,095

NET CURRENT ASSETS

88,382

52,779

TOTAL ASSETS LESS CURRENT LIABILITIES

161,456

117,526

CREDITORS

Amounts falling due after more than one year

7

56,227

27,133

NET ASSETS

105,229

90,393

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

105,227

90,391

105,229

90,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 September 2019 and were signed on its behalf by:

A Keys - Director

1.	STATUTORY INFORMATION

Keys Brothers Horticulture Limited is a private company, limited by shares , registered in Northern

Ireland. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2017

104,660

Additions

27,155

At 30 September 2018

131,815

DEPRECIATION

At 1 October 2017

39,913

Charge for year

18,828

At 30 September 2018

58,741

NET BOOK VALUE

At 30 September 2018

73,074

At 30 September 2017

64,747

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

92,385

78,335

Other debtors

35,279

38,140

127,664

116,475

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

10,821

10,801

Trade creditors

53,297

93,435

Taxation and social security

19,840

16,847

Other creditors

67,404

49,012

151,362

170,095

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

39,749

27,133

Other creditors

16,478

-

56,227

27,133