Elmwood Nursery Ltd. - Accounts to registrar - small 17.2
Elmwood Nursery Ltd. - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| ELMWOOD NURSERY LTD. |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ELMWOOD NURSERY LTD. |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 169 West George Street |
| Glasgow |
| G2 2LB |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Elmwood Nursery Ltd. is a |
| and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The impact of first year adoption of FRS 102 is given in the final note to the financial statements. |
| Turnover |
| The turnover shown in the Income Statement represents the value of all services delivered at a selling price. Sales are |
| recognised at the point at which the Company has fulfilled its contractual obligations to the customer. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Leasehold improvements | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs |
| of acquisition. |
| Financial instruments |
| The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, |
| according to the substance of the contractual arrangement. |
| Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at |
| principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the |
| outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
| An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of |
| its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated |
| financial instrument. |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Leasehold |
| property | property | improvements |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | - | 74,056 |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| 9. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Charge to Income Statement during year |
| Balance at 31 December 2016 |
| 10. | CALLED UP SHARE CAPITAL |
| Alloted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| 29 | A Ordinary | £1 | 29 | 30 |
| 29 | B Ordinary | £1 | 29 | 30 |
| 30 | C Ordinary | £1 | 30 | 30 |
| 1 | D Ordinary | £1 | 1 | - |
| 1 | E Ordinary | £1 | 1 | - |
| 90 | 90 |
| On 20 June 2016 1 A Ordinary share and 1 B Ordinary share in issue were redesignated as 1 D Ordinary share and as 1 E |
| Ordinary share respectively. |
| All classes of shares rank parri passu in all respects. However when paying dividends the Company may differentiate |
| between classes of share to which payments are being made in respect of the amount or percentage of dividend payable. |
| 11. | RELATED PARTY DISCLOSURES |
| Total director emoluments in the year were £18,000 (2015 - £18,000). |
| No other transactions with related parties were undertaken such as required to be disclosed under FRS 102. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The Company was under the control of Mrs D Bunis throughout the current and prior year by virtue of her majority interest |
| in the Company's issued share capital. |
| ELMWOOD NURSERY LTD. (REGISTERED NUMBER: SC199051) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 13. | FIRST YEAR ADOPTION |
| The policies applied under the Company's previous accounting framework are not materially different to FRS 102 and have |
| not impacted on equity or profit or loss. The transition date for FRS 102 reporting is 1 January 2015. |