LOVETT_NURSERIES_LTD - Accounts


Company Registration No. 04512346 (England and Wales)
LOVETT NURSERIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2014
LOVETT NURSERIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
LOVETT NURSERIES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2014
31 August 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
34
45
Current assets
Stocks
1,500
1,500
Cash at bank and in hand
795
1,005
2,295
2,505
Creditors: amounts falling due within one year
(12,099)
(12,839)
Net current liabilities
(9,804)
(10,334)
Total assets less current liabilities
(9,770)
(10,289)
Creditors: amounts falling due after more than one year
-
(690)
(9,770)
(10,979)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(9,870)
(11,079)
Shareholders'  funds
(9,770)
(10,979)
For the financial year ended 31 August 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 April 2015
R Lovett
Director
Company Registration No. 04512346
LOVETT NURSERIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2014
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2013 & at 31 August 2014
30,000
1,050
31,050
Depreciation
At 1 September 2013
30,000
1,005
31,005
Charge for the year
-
11
11
At 31 August 2014
30,000
1,016
31,016
Net book value
At 31 August 2014
-
34
34
At 31 August 2013
-
45
45
LOVETT NURSERIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100Ordinary share of £1 each
100
100
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