Daisy Nursery Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06924846 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2022

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

583,430

233,139

CURRENT ASSETS

Debtors

5

59,183

395,183

Cash at bank

19,376

122,064

78,559

517,247

CREDITORS

Amounts falling due within one year

6

558,475

284,169

NET CURRENT (LIABILITIES)/ASSETS

(479,916

)

233,078

TOTAL ASSETS LESS CURRENT LIABILITIES

103,514

466,217

CREDITORS

Amounts falling due after more than one year

7

(123,750

)

(366,329

)

PROVISIONS FOR LIABILITIES

10

(110,852

)

(43,454

)

NET (LIABILITIES)/ASSETS

(131,088

)

56,434

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

(132,088

)

55,434

SHAREHOLDERS' FUNDS

(131,088

)

56,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 and authorised for issue on 30 May 2023 and were signed on its behalf by:

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.

At the balance sheet date the company had net liabilities of £131,088 (2021 net assets: £56,434). The ability of the company to continue trading is dependant on the continued support of the company's creditors. The directors are of the opinion that this support will continue for the foreseeable future and so consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not contain any adjustments that would be required if this support were to be withdrawn.

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 110 (2021 - 82 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Motor

Nursery

Improvements

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2021

-

57,300

501,975

559,275

Additions

59,457

-

433,313

492,770

At 31 August 2022

59,457

57,300

935,288

1,052,045

DEPRECIATION

At 1 September 2021

-

14,637

311,499

326,136

Charge for year

6,606

4,502

131,371

142,479

At 31 August 2022

6,606

19,139

442,870

468,615

NET BOOK VALUE

At 31 August 2022

52,851

38,161

492,418

583,430

At 31 August 2021

-

42,663

190,476

233,139

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Other debtors

59,183

395,183

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans and overdrafts

234,569

109,027

Hire purchase contracts (see note 8)

-

7,083

Taxation and social security

153,642

93,573

Other creditors

170,264

74,486

558,475

284,169

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans

123,750

356,250

Hire purchase contracts (see note 8)

-

10,079

123,750

366,329

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.8.22

31.8.21

£

£

Net obligations repayable:

Within one year

-

7,083

Between one and five years

-

10,079

-

17,162

Non-cancellable

operating leases

31.8.22

31.8.21

£

£

Within one year

252,000

252,000

Between one and five years

903,983

749,123

In more than five years

423,981

511,000

1,579,964

1,512,123

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.22

31.8.21

£

£

Hire purchase contracts

-

17,162

10.	PROVISIONS FOR LIABILITIES

31.8.22

31.8.21

£

£

Deferred tax

110,852

43,454

Deferred

tax

£

Balance at 1 September 2021

43,454

Movement in the year

67,398

Balance at 31 August 2022

110,852

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.22

31.8.21

value:

£

£

1,000

Ordinary

£1

1,000

1,000