Hawkesmill Nurseries Co. Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01303304

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

HAWKESMILL NURSERIES CO. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Evans

Mrs V F Evans

R J Evans

J R Evans

REGISTERED OFFICE:

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

REGISTERED NUMBER:

01303304

ACCOUNTANTS:

Armstrongs

Chartered Accountants and Business Advisors

1&2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

BANKERS:

HSBC

227 Station Road

Balsall Common

Coventry

West Midlands

CV7 7FE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

638,456

813,258

638,456

813,258

CURRENT ASSETS

Stocks

6

908,064

837,413

Debtors

7

316,564

329,043

Cash at bank

1,296,155

854,513

2,520,783

2,020,969

CREDITORS

Amounts falling due within one year

8

306,834

282,127

NET CURRENT ASSETS

2,213,949

1,738,842

TOTAL ASSETS LESS CURRENT LIABILITIES

2,852,405

2,552,100

PROVISIONS FOR LIABILITIES

10

23,964

4,665

NET ASSETS

2,828,441

2,547,435

CAPITAL AND RESERVES

Called up share capital

11

2,900

2,900

Retained earnings

12

2,825,541

2,544,535

SHAREHOLDERS' FUNDS

2,828,441

2,547,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25th September 2017 and were signed on its behalf by:

R J Evans - Director

1.	STATUTORY INFORMATION

Hawkesmill Nurseries Co. Limited is a private company, limited by shares , registered in Not specified/Other.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% and 10 % on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

50% on reducing balance

Stocks

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

moving items.

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 57 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2016

and 31st December 2016

134,000

AMORTISATION

At 1st January 2016

and 31st December 2016

134,000

NET BOOK VALUE

At 31st December 2016

-

At 31st December 2015

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

buildings

machinery

fittings

£

£

£

COST

At 1st January 2016

1,150,600

557,899

8,704

Additions

-

18,995

-

Disposals

(216,090

)

-

-

At 31st December 2016

934,510

576,894

8,704

DEPRECIATION

At 1st January 2016

490,152

434,810

8,314

Charge for year

29,033

28,288

78

Eliminated on disposal

(84,187

)

-

-

At 31st December 2016

434,998

463,098

8,392

NET BOOK VALUE

At 31st December 2016

499,512

113,796

312

At 31st December 2015

660,448

123,089

390

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2016

160,399

52,229

1,929,831

Additions

-

11,130

30,125

Disposals

-

-

(216,090

)

At 31st December 2016

160,399

63,359

1,743,866

DEPRECIATION

At 1st January 2016

141,974

41,323

1,116,573

Charge for year

4,607

11,018

73,024

Eliminated on disposal

-

-

(84,187

)

At 31st December 2016

146,581

52,341

1,105,410

NET BOOK VALUE

At 31st December 2016

13,818

11,018

638,456

At 31st December 2015

18,425

10,906

813,258

6.

STOCKS

2016

2015

£

£

Stocks

908,064

837,413

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

296,385

314,483

Prepayments and other debtors

20,179

14,560

316,564

329,043

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts (see note 9)

-

10,724

Trade creditors

33,777

25,615

Corporation tax

86,207

81,450

Social security and other taxes

10,621

11,070

VAT

11,180

7,699

Other creditors

1,496

1,610

Directors' loan accounts

57,500

50,000

Accrued expenses

106,053

93,959

306,834

282,127

9.

LOANS

An analysis of the maturity of loans is given below:

2016

2015

£

£

Amounts falling due within one year or on demand:

Bank loans

-

10,724

10.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

23,964

4,665

Deferred

tax

£

Balance at 1st January 2016

4,665

Deferred Tax

19,299

Balance at 31st December 2016

23,964

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,800

Ordinary

£ 1

1,800

1,800

1,000

Ordinary 'A'

£ 1

1,000

1,000

100

Ordinary 'B'

£1

100

100

2,900

2,900

12.

RESERVES

Retained

earnings

£

At 1st January 2016

2,544,535

Profit for the year

392,506

Dividends

(111,500

)

At 31st December 2016

2,825,541

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have signified that they have kept their directors current account in credit and that they will not

charge any interest on the monies held.

14.	RELATED PARTY DISCLOSURES

During the year, market rent of £14,815 (2015 £13,980) for the Fen End premises has been paid to Mr. T J Evans

and Mrs. V F Evans who are directors of the company.

15.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who are all shareholders of the company.