A P Matthews (Nurseries) Limited Filleted accounts for Companies House (small and micro)

A.P. MATTHEWS (NURSERIES) LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-10-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 00828211 2017-10-01 2018-09-30 00828211 2018-09-30 00828211 2017-09-30 00828211 2016-10-01 2017-09-30 00828211 2017-09-30 00828211 core:LandBuildings core:OwnedOrFreeholdAssets 2017-10-01 2018-09-30 00828211 core:PlantMachinery 2017-10-01 2018-09-30 00828211 core:MotorVehicles 2017-10-01 2018-09-30 00828211 bus:Director1 2017-10-01 2018-09-30 00828211 core:LandBuildings 2017-09-30 00828211 core:PlantMachinery 2017-09-30 00828211 core:FurnitureFittings 2017-09-30 00828211 core:MotorVehicles 2017-09-30 00828211 core:LandBuildings 2018-09-30 00828211 core:PlantMachinery 2018-09-30 00828211 core:FurnitureFittings 2018-09-30 00828211 core:MotorVehicles 2018-09-30 00828211 core:LandBuildings 2017-10-01 2018-09-30 00828211 core:FurnitureFittings 2017-10-01 2018-09-30 00828211 core:WithinOneYear 2018-09-30 00828211 core:WithinOneYear 2017-09-30 00828211 core:AfterOneYear 2018-09-30 00828211 core:ShareCapital 2018-09-30 00828211 core:ShareCapital 2017-09-30 00828211 core:RetainedEarningsAccumulatedLosses 2018-09-30 00828211 core:RetainedEarningsAccumulatedLosses 2017-09-30 00828211 core:LandBuildings 2017-09-30 00828211 core:PlantMachinery 2017-09-30 00828211 core:FurnitureFittings 2017-09-30 00828211 core:MotorVehicles 2017-09-30 00828211 bus:SmallEntities 2017-10-01 2018-09-30 00828211 bus:AuditExemptWithAccountantsReport 2017-10-01 2018-09-30 00828211 bus:FullAccounts 2017-10-01 2018-09-30 00828211 bus:SmallCompaniesRegimeForAccounts 2017-10-01 2018-09-30 00828211 bus:PrivateLimitedCompanyLtd 2017-10-01 2018-09-30

COMPANY REGISTRATION NUMBER: 00828211

A P Matthews (Nurseries) Limited

Filleted Unaudited Financial Statements

30 September 2018

A P Matthews (Nurseries) Limited

Financial Statements

Year ended 30 September 2018

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 6

A P Matthews (Nurseries) Limited

Balance Sheet

30 September 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	612,868	557,341

Current assets

Stocks		95,000	95,000
Debtors	6	241,307	261,789
Cash at bank and in hand		54,839	72,777
		---------	---------
		391,146	429,566

Creditors: amounts falling due within one year	7	186,292	231,019
		---------	---------
Net current assets		204,854	198,547
		---------	---------
Total assets less current liabilities		817,722	755,888

Creditors: amounts falling due after more than one year	8	33,750	–

Provisions

Taxation including deferred tax	19,000	9,000
	---------	---------
Net assets	764,972	746,888
	---------	---------

Capital and reserves

Called up share capital	30,000	30,000
Profit and loss account	734,972	716,888
	---------	---------
Shareholders funds	764,972	746,888
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A P Matthews (Nurseries) Limited

Balance Sheet (continued)

30 September 2018

These financial statements were approved by the board of directors and authorised for issue on 26 June 2019 , and are signed on behalf of the board by:

Mr A P Basnett

Director

Company registration number: 00828211

A P Matthews (Nurseries) Limited

Notes to the Financial Statements

Year ended 30 September 2018

1. General information

The company is a private company limited by shares, registered in England and Wales, registration number 00828211 . The address of the registered office is Thurlwood Farm, Rode Heath, Stoke on Trent, Staffordshire, ST7 3RN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Revenue recognition

Turnover comprises the value of sales (exclusive of VAT) of goods provided in the normal course of business. Revenue is recognised when goods are dispatched, which is the same day on which goods are delivered and hence the point at which the risks and rewards of ownership pass to the buyer.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Rental income from operating leases is included in the profit and loss on a straight-line basis over the period of the lease.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and Buildings	-	2% straight line
Plant and Machinery	-	15% reducing balance
Fixtures and Fittings	-	15% Reducing balance, 25% on cost for computers
Motor Vehicles	-	25% reducing balance

Land is not depreciated.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises invoice cost. Net realisable value is the estimated proceeds from the sale of stock items.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade Creditors Trade creditors are not interest bearing and are stated at their nominal value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2017: 21 ).

5. Tangible assets

	Land and Buildings	Plant and Machinery	Fixtures and Fittings	Motor Vehicles	Total
	£	£	£	£	£
Cost
At 1 October 2017	514,005	233,674	10,622	130,655	888,956
Additions	–	3,190	–	88,865	92,055
Disposals	–	–	–	( 61,515)	( 61,515)
	---------	---------	--------	---------	---------
At 30 September 2018	514,005	236,864	10,622	158,005	919,496
	---------	---------	--------	---------	---------
Depreciation
At 1 October 2017	11,392	195,753	9,996	114,474	331,615
Charge for the year	1,988	6,168	162	25,613	33,931
Disposals	–	–	–	( 58,918)	( 58,918)
	---------	---------	--------	---------	---------
At 30 September 2018	13,380	201,921	10,158	81,169	306,628
	---------	---------	--------	---------	---------
Carrying amount
At 30 September 2018	500,625	34,943	464	76,836	612,868
	---------	---------	--------	---------	---------
At 30 September 2017	502,613	37,921	626	16,181	557,341
	---------	---------	--------	---------	---------

6. Debtors

	2018	2017
	£	£
Trade debtors	239,420	259,760
Other debtors	1,887	2,029
	---------	---------
	241,307	261,789
	---------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	22,461	31,447
Corporation tax	8,000	22,000
Social security and other taxes	36,826	50,913
Other creditors	119,005	126,659
	---------	---------
	186,292	231,019
	---------	---------

8. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Other creditors	33,750	–
	--------	-------

9. Directors' advances, credits and guarantees

Included within other creditors is £95,515 (2017 - £120,705) which represent the directors loan accounts.