Provender Nurseries Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04827218 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

FOR

PROVENDER NURSERIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R B East

R E Edge-McKenna

R J Burt

Mrs L P East

SECRETARY:

Mrs L P East

REGISTERED OFFICE:

The Landscape Centre

Leydenhatch Lane

Swanley

Kent

BR8 7PS

REGISTERED NUMBER:

04827218 (England and Wales)

ACCOUNTANTS:

Sargeant Partnership

Chartered Accountants

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

FIXED ASSETS

Tangible assets

2

459,147

403,336

CURRENT ASSETS

Stocks

1,024,982

932,577

Debtors

85,927

62,584

Cash at bank and in hand

8,391

701

1,119,300

995,862

CREDITORS

Amounts falling due within one year

768,929

660,286

NET CURRENT ASSETS

350,371

335,576

TOTAL ASSETS LESS CURRENT LIABILITIES

809,518

738,912

CREDITORS

Amounts falling due after more than one year

(708,764

)

(774,350

)

PROVISIONS FOR LIABILITIES

(30,811

)

-

NET ASSETS/(LIABILITIES)

69,943

(35,438

)

CAPITAL AND RESERVES

Called up share capital

3

11,110

11,110

Profit and loss account

58,833

(46,548

)

SHAREHOLDERS' FUNDS

69,943

(35,438

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 February 2016 and were signed on its behalf by:

R E Edge-McKenna - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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% per annum on cost

Plant and machinery

-

10% per annum on cost

Website & Design Costs

-

10% per annum on cost

Motor vehicles

-

10% per annum on cost

Office Equipment

-

20% per annum on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

646,522

Additions

121,745

At 31 August 2015

768,267

DEPRECIATION

At 1 September 2014

243,186

Charge for year

65,934

At 31 August 2015

309,120

NET BOOK VALUE

At 31 August 2015

459,147

At 31 August 2014

403,336

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

5,555

A Ordinary

£1

5,555

5,555

5,555

B Ordinary

£1

5,555

5,555

11,110

11,110

4.	TRANSACTIONS WITH DIRECTORS

At the balance sheet date the company owed R East £761,542 (2014: £782,098)

During the year R East transferred 278 A and B shares to R E Edge-McKenna at par.

5.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Richard East by virtue of his shareholdings.

6.	GOING CONCERN

The directors' are pleased to report a small profit this year and feel that the change of ownership and rebranding

that they went through in the previous period has really set the company up moving forward to continue to grow

and increase profitability.

The major creditor of the company is Richard East and he has agreed to provide continuing support to the

company. It is on this basis that the accounts have been prepared as a going concern.

7.	DIRECTORS' LOAN ACCOUNT

Included within other creditors are the following amounts relating to a directors' loan account from R East:

Due in less than one year £56,248

Due in more than one year £725,850

This loan has no stipulation as to repayment or interest and R East has indicated his continued ongoing support

for the company.