Homestead Nursery (Wirral) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06574572 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

HOMESTEAD NURSERY (WIRRAL) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C Devlin

Mrs G Dillon

SECRETARY:

Mrs G Dillon

REGISTERED OFFICE:

Drake House

Gadbrook Park

Northwich

Cheshire

CW9 7RA

REGISTERED NUMBER:

06574572 (England and Wales)

ACCOUNTANTS:

Howard Worth Chartered Accountants

Drake House

Gadbrook Way

Gadbrook Park

Northwich

Cheshire

CW9 7RA

FIXED ASSETS

Intangible assets

4

220,000

240,000

Tangible assets

5

38,846

35,290

258,846

275,290

CURRENT ASSETS

Debtors

6

12,000

12,000

Cash at bank and in hand

55,692

59,162

67,692

71,162

CREDITORS

Amounts falling due within one year

7

83,140

207,271

NET CURRENT LIABILITIES

(15,448

)

(136,109

)

TOTAL ASSETS LESS CURRENT LIABILITIES

243,398

139,181

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

243,298

139,081

SHAREHOLDERS' FUNDS

243,398

139,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 15 August 2017 and were signed on its behalf by:

Mrs C Devlin - Director

Mrs G Dillon - Director

1.	STATUTORY INFORMATION

Homestead Nursery (Wirral) Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number 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

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.

These are the first financial statements the Company has prepared in accordance with Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of

Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The

financial statements for the year ended 31 March 2016 were prepared in accordance with Financial

Reporting Standard for Smaller Entities (effective January 2015) (FRSSE).

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and

accounting policy choices differ from the FRSSE. Consequently the directors have amended certain

accounting policies to comply with FRS 102. The directors have also taken advantage of certain

exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''.

There are no changes in the prior period on transition to FRS 102 as the directors consider them to be

immaterial to financial statements.

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 2008, is being amortised evenly over its estimated useful life of twenty 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.

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

at variable rates on reducing balance

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 is recognised at the amount of tax payable using the tax rates and laws 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.

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 25 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

400,000

AMORTISATION

At 1 April 2016

160,000

Charge for year

20,000

At 31 March 2017

180,000

NET BOOK VALUE

At 31 March 2017

220,000

At 31 March 2016

240,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

5,705

56,209

-

61,914

Additions

3,087

8,052

1,032

12,171

At 31 March 2017

8,792

64,261

1,032

74,085

DEPRECIATION

At 1 April 2016

2,207

24,417

-

26,624

Charge for year

1,185

7,172

258

8,615

At 31 March 2017

3,392

31,589

258

35,239

NET BOOK VALUE

At 31 March 2017

5,400

32,672

774

38,846

At 31 March 2016

3,498

31,792

-

35,290

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Other debtors

12,000

12,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Taxation

24,548

33,110

Other creditors

6,017

791

Directors' current accounts

50,294

171,570

Accrued expenses

2,281

1,800

83,140

207,271