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

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

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COMPANY REGISTRATION NUMBER: 00828211

A P Matthews (Nurseries) Limited

Filleted Unaudited Financial Statements

30 September 2023

A P Matthews (Nurseries) Limited

Financial Statements

Year ended 30 September 2023

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 6

A P Matthews (Nurseries) Limited

Balance Sheet

30 September 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	868,102	791,548

Current assets

Stocks		87,000	66,000
Debtors	6	188,293	178,259
Cash at bank and in hand		321,214	308,566
		---------	---------
		596,507	552,825

Creditors: amounts falling due within one year	7	171,284	158,037
		---------	---------
Net current assets		425,223	394,788
		------------	------------
Total assets less current liabilities		1,293,325	1,186,336

Provisions

Taxation including deferred tax	47,000	28,400
	------------	------------
Net assets	1,246,325	1,157,936
	------------	------------

Capital and reserves

Called up share capital	30,000	30,000
Profit and loss account	1,216,325	1,127,936
	------------	------------
Shareholders funds	1,246,325	1,157,936
	------------	------------

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 Section 1A of 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 2023 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 2023

These financial statements were approved by the board of directors and authorised for issue on 9 May 2024 , 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 2023

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, 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.

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 18 (2022: 18 ).

5. Tangible assets

	Land and Buildings	Plant and Machinery	Fixtures and Fittings	Motor Vehicles	Total
	£	£	£	£	£
Cost
At 1 October 2022	759,651	255,986	10,217	158,005	1,183,859
Additions	73,148	45,083	–	–	118,231
Disposals	–	( 63,083)	–	–	( 63,083)
	---------	---------	--------	---------	------------
At 30 September 2023	832,799	237,986	10,217	158,005	1,239,007
	---------	---------	--------	---------	------------
Depreciation
At 1 October 2022	26,205	222,545	9,865	133,696	392,311
Charge for the year	8,323	9,069	137	6,077	23,606
Disposals	–	( 45,012)	–	–	( 45,012)
	---------	---------	--------	---------	------------
At 30 September 2023	34,528	186,602	10,002	139,773	370,905
	---------	---------	--------	---------	------------
Carrying amount
At 30 September 2023	798,271	51,384	215	18,232	868,102
	---------	---------	--------	---------	------------
At 30 September 2022	733,446	33,441	352	24,309	791,548
	---------	---------	--------	---------	------------

6. Debtors

	2023	2022
	£	£
Trade debtors	185,028	172,079
Other debtors	3,265	6,180
	---------	---------
	188,293	178,259
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	11,361	9,887
Corporation tax	35,150	20,000
Social security and other taxes	46,103	44,417
Other creditors	78,670	83,733
	---------	---------
	171,284	158,037
	---------	---------