D Byford & Sons (Nurseries) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00954424 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

D BYFORD & SONS (NURSERIES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs L R Byford

N J Byford

Mrs W E Byford

M J Byford

Mrs C L Knights

SECRETARY:

Mrs C L Knights

REGISTERED OFFICE:

Tile House

New Road

Aldham

Colchester

Essex

CO6 3PN

REGISTERED NUMBER:

00954424 (England and Wales)

ACCOUNTANTS:

Richard Sexton & Co

Chartered Accountants

St Margarets

3 Manor Road

Colchester

Essex

CO3 3LU

FIXED ASSETS

Tangible assets

4

1,352,695

1,327,995

CURRENT ASSETS

Debtors

5

7,469

9,204

Cash in hand

142,668

126,874

150,137

136,078

CREDITORS

Amounts falling due within one year

6

41,709

42,570

NET CURRENT ASSETS

108,428

93,508

TOTAL ASSETS LESS CURRENT LIABILITIES

1,461,123

1,421,503

PROVISIONS FOR LIABILITIES

125,510

130,600

NET ASSETS

1,335,613

1,290,903

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Non distributable retained earnings

7

1,075,469

1,041,234

Retained earnings

7

257,144

246,669

SHAREHOLDERS' FUNDS

1,335,613

1,290,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 6 June 2018 and were signed on its behalf by:

Mrs L R Byford - Director

1.	STATUTORY INFORMATION

D Byford & Sons (Nurseries) Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and also have been consistently applied within the same

accounts.

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.

Freehold land & buildings

-

10% reducing balance on certain works

Equipment

-

10% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Freehold

land &

buildings

Equipment

Totals

£

£

£

COST OR VALUATION

At 1 November 2016

1,383,342

7,326

1,390,668

Revaluations

29,235

-

29,235

At 31 October 2017

1,412,577

7,326

1,419,903

DEPRECIATION

At 1 November 2016

58,342

4,331

62,673

Charge for year

4,235

300

4,535

At 31 October 2017

62,577

4,631

67,208

NET BOOK VALUE

At 31 October 2017

1,350,000

2,695

1,352,695

At 31 October 2016

1,325,000

2,995

1,327,995

Cost or valuation at 31 October 2017 is represented by:

Freehold

land &

buildings

Equipment

Totals

£

£

£

Valuation in 2015

1,133,209

-

1,133,209

Valuation in 2016

38,025

-

38,025

Valuation in 2017

29,235

-

29,235

Cost

212,108

7,326

219,434

1,412,577

7,326

1,419,903

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,165

4,389

Prepayments

4,304

4,815

7,469

9,204

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

6,908

7,567

Corporation tax

13,480

15,200

Social security and other taxes

1,370

1,145

Other creditors - Directors current account

941

3,144

Accruals & rents received in advance

19,010

15,514

41,709

42,570

7.

RESERVES

Non

distributable

Retained

retained

earnings

earnings

Totals

£

£

£

At 1 November 2016

246,669

1,041,234

1,287,903

Profit for the year

85,210

85,210

Dividends

(40,500

)

(40,500

)

Non distributable earnings

(34,235

)

34,235

-

At 31 October 2017

257,144

1,075,469

1,332,613

8.	RELATED PARTY DISCLOSURES

During the year the company paid dividends of £36,450 to the directors of the company.

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mrs. L R Byford who owns 52% of the issued share capital.

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting Standard

102 (FRS102) issued by the Financial Reporting Council. The previous financial statements, for the year ended

31 October 2016, were prepared under previous UK GAAP. The transition date for FRS 102 is therefore 1

November 2015.

As a result of adopting FRS 102 freehold land and buildings are now valued in the accounts at their present open

market valuation.