Abbreviated Company Accounts - GREENHILLS NURSERY LIMITED

Abbreviated Company Accounts - GREENHILLS NURSERY LIMITED


Registered Number 03238249

GREENHILLS NURSERY LIMITED

Abbreviated Accounts

30 September 2016

GREENHILLS NURSERY LIMITED Registered Number 03238249

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 7,501 10,001
Tangible assets 3 763 -
8,264 10,001
Current assets
Stocks 245,000 250,000
Debtors 11,591 13,615
Cash at bank and in hand 23,398 12,484
279,989 276,099
Creditors: amounts falling due within one year (61,510) (45,839)
Net current assets (liabilities) 218,479 230,260
Total assets less current liabilities 226,743 240,261
Total net assets (liabilities) 226,743 240,261
Capital and reserves
Called up share capital 4 275,100 275,100
Profit and loss account (48,357) (34,839)
Shareholders' funds 226,743 240,261
  • For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 June 2017

And signed on their behalf by:
Mr J B Kruijer, Director

GREENHILLS NURSERY LIMITED Registered Number 03238249

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery - 15% straight line per annum
Office equipment - 33.33% straight line per annum

Intangible assets amortisation policy
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss Account over its estimated economic life.

Amortisation is provided at the following rates:

Goodwill - 5% straight line per annum

Other accounting policies
Operating leases

Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Profit and Loss Account.

2Intangible fixed assets
£
Cost
At 1 October 2015 50,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 September 2016 50,000
Amortisation
At 1 October 2015 39,999
Charge for the year 2,500
On disposals -
At 30 September 2016 42,499
Net book values
At 30 September 2016 7,501
At 30 September 2015 10,001
3Tangible fixed assets
£
Cost
At 1 October 2015 3,536
Additions 1,139
Disposals -
Revaluations -
Transfers -
At 30 September 2016 4,675
Depreciation
At 1 October 2015 3,536
Charge for the year 376
On disposals -
At 30 September 2016 3,912
Net book values
At 30 September 2016 763
At 30 September 2015 0
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
275,100 Ordinary shares of £1 each 275,100 275,100