Daisy Nursery Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06924846 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2019

for

Daisy Nursery Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs V M Peterkin

A N Peterkin

REGISTERED OFFICE:

Anglesey Lodge

Farnborough Road

Aldershot

Hampshire

GU11 3BJ

REGISTERED NUMBER:

06924846 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Tangible assets

4

208,417

99,869

CURRENT ASSETS

Debtors

5

37,727

45,898

Cash at bank

72,303

13,699

110,030

59,597

CREDITORS

Amounts falling due within one year

6

178,521

139,114

NET CURRENT LIABILITIES

(68,491

)

(79,517

)

TOTAL ASSETS LESS CURRENT LIABILITIES

139,926

20,352

CREDITORS

Amounts falling due after more than one year

7

(95,305

)

-

PROVISIONS FOR LIABILITIES

10

(39,599

)

(18,975

)

NET ASSETS

5,022

1,377

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

4,022

377

SHAREHOLDERS' FUNDS

5,022

1,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 22 January 2020 and were signed on its behalf by:

Mrs V M Peterkin - Director

A N Peterkin - Director

1.	STATUTORY INFORMATION

Daisy Nursery Ltd is a private company, limited by shares , registered in England and Wales. 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.

Nursery equipment

-

over the remaining life of the lease

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs.

Subsequently they are measured at amortised cost using the effective interest rate method, less

impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

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

Income and Retained Earnings, 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, adjusted for indexation where applicable.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at

each balance sheet date. The directors review the carrying amount of the relevant assets and compare

them to their market values and recoverable amounts. Where the carrying amount exceeds this, an

impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where

the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2018 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Nursery

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2018

-

193,279

193,279

Additions

39,900

113,343

153,243

At 31 August 2019

39,900

306,622

346,522

DEPRECIATION

At 1 September 2018

-

93,410

93,410

Charge for year

2,494

42,201

44,695

At 31 August 2019

2,494

135,611

138,105

NET BOOK VALUE

At 31 August 2019

37,406

171,011

208,417

At 31 August 2018

-

99,869

99,869

The obligations under hire purchase agreements are secured against the items of plant and machinery

to which they relate that have a carrying value of £37,406.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Other debtors

37,727

45,898

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

18,780

-

Hire purchase contracts (see note 8)

7,083

-

Taxation and social security

53,612

53,236

Other creditors

99,046

85,878

178,521

139,114

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans

71,059

-

Hire purchase contracts (see note 8)

24,246

-

95,305

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.8.19

31.8.18

£

£

Net obligations repayable:

Within one year

7,083

-

Between one and five years

24,246

-

31,329

-

Non-cancellable

operating leases

31.8.19

31.8.18

£

£

Within one year

135,509

97,913

Between one and five years

469,958

363,302

In more than five years

178,250

75,785

783,717

537,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.19

31.8.18

£

£

Hire purchase contracts

31,329

-

10.	PROVISIONS FOR LIABILITIES

31.8.19

31.8.18

£

£

Deferred tax

39,599

18,975

Deferred

tax

£

Balance at 1 September 2018

18,975

Movement in the year

20,624

Balance at 31 August 2019

39,599

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.19

31.8.18

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.	RELATED PARTY DISCLOSURES

The bank loan is personally guaranteed by the directors.