Aspire Nurseries Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07464429 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Aspire Nurseries Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Chartered Accountants' Report

6

FIXED ASSETS

Tangible assets

4

3,103

4,946

CURRENT ASSETS

Debtors

5

24,605

6,456

Cash at bank and in hand

1,908

16,047

26,513

22,503

CREDITORS

Amounts falling due within one year

6

49,746

56,927

NET CURRENT LIABILITIES

(23,233

)

(34,424

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,130

)

(29,478

)

PROVISIONS FOR LIABILITIES

590

940

NET LIABILITIES

(20,720

)

(30,418

)

CAPITAL AND RESERVES

Called up share capital

860

860

Retained earnings

(21,580

)

(31,278

)

SHAREHOLDERS' FUNDS

(20,720

)

(30,418

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2020 and were signed on its behalf by:

Mr P E Mcvay - Director

1.	STATUTORY INFORMATION

Aspire Nurseries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07464429

Registered office:

2 Railway Street

Stafford

Staffordshire

The presentation currency of the financial statements is the Pound Sterling (£).

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis.

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditors of the company are trade creditors whom are owed £33,977 (2019: £43,083). The directors are satisfied that the shareholders are prepared to continue to support the development of the company for the next year.

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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

15,321

5,687

21,008

DEPRECIATION

At 1 April 2019

11,615

4,447

16,062

Charge for year

1,532

311

1,843

At 31 March 2020

13,147

4,758

17,905

NET BOOK VALUE

At 31 March 2020

2,174

929

3,103

At 31 March 2019

3,706

1,240

4,946

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

6,417

5,736

Other debtors

18,188

720

24,605

6,456

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

33,977

43,083

Taxation and social security

3,009

3,379

Other creditors

12,760

10,465

49,746

56,927

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aspire Nurseries Limited for the year ended 31 March 2020 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Aspire Nurseries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aspire Nurseries Limited and state those matters that we have agreed to state to the Board of Directors of Aspire Nurseries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspire Nurseries Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Aspire Nurseries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aspire Nurseries Limited. You consider that Aspire Nurseries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Aspire Nurseries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Thompson Wright Limited

Chartered Accountants

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

13 November 2020