Craigend Nursery & Coffee Shop Ltd - Accounts to registrar (filleted) - small 18.2

Craigend Nursery & Coffee Shop Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC538150 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

CRAIGEND NURSERY & COFFEE SHOP LTD

CRAIGEND NURSERY & COFFEE SHOP LTD (REGISTERED NUMBER: SC538150)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2020




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


CRAIGEND NURSERY & COFFEE SHOP LTD (REGISTERED NUMBER: SC538150)

ABRIDGED BALANCE SHEET
30 June 2020

30.6.20 30.6.19
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,400 16,800
Tangible assets 5 19,550 -
33,950 16,800

CURRENT ASSETS
Stocks 15,520 25,890
Debtors 2,335 4,580
Cash at bank 8,013 6,777
25,868 37,247
CREDITORS
Amounts falling due within one year 55,076 37,331
NET CURRENT LIABILITIES (29,208 ) (84 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,742

16,716

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,642 16,616
4,742 16,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

CRAIGEND NURSERY & COFFEE SHOP LTD (REGISTERED NUMBER: SC538150)

ABRIDGED BALANCE SHEET - continued
30 June 2020



The financial statements were approved by the Board of Directors and authorised for issue on 10 May 2021 and were signed on its behalf by:





Mrs J T Watson - Director


CRAIGEND NURSERY & COFFEE SHOP LTD (REGISTERED NUMBER: SC538150)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2020

1. STATUTORY INFORMATION

Craigend Nursery & Coffee Shop Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC538150

Registered office: 22 Backbrae Street
Kilsyth
Glasgow
North Lanarkshire
G65 0NH

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 and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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.


CRAIGEND NURSERY & COFFEE SHOP LTD (REGISTERED NUMBER: SC538150)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2020

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2019 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2019
and 30 June 2020 24,000
AMORTISATION
At 1 July 2019 7,200
Amortisation for year 2,400
At 30 June 2020 9,600
NET BOOK VALUE

At 30 June 2020 14,400
At 30 June 2019 16,800

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 23,000
At 30 June 2020 23,000
DEPRECIATION
Charge for year 3,450
At 30 June 2020 3,450
NET BOOK VALUE
At 30 June 2020 19,550

CRAIGEND NURSERY & COFFEE SHOP LTD (REGISTERED NUMBER: SC538150)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2020

6. POST BALANCE SHEET EVENTS

As a member of the agricultural and retail sector the business was subject to the various mandatory shut downs imposed by both the UK and Scottish Governments. As a result, in certain periods, the business was required to cease or restrict certain operations when restrictions were imposed. The effect of this has been that trade had reduced during these periods.

During this period staff have been furloughed. With staff being placed on furlough the business is eligible for the Government's Coronavirus Job Retention Scheme (CJRS) which will reimburse 80% of the salaries of furloughed staff of all eligible businesses. It has also made a successful application for a grant through the Scottish Government Coronavirus Business Support Fund for £10,000 to further support the business through this period.