PREMIUM_HORTICULTURE_LIMI - Accounts

PREMIUM HORTICULTURE LIMITED - Company Information

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Company Registration No. 02855205 (England and Wales)

PREMIUM HORTICULTURE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2014

PREMIUM HORTICULTURE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PREMIUM HORTICULTURE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

211,708

242,580

Current assets

Stocks

106,000

67,000

Debtors

178,397

152,261

Cash at bank and in hand

271,566

147,022

555,963

366,283

Creditors: amounts falling due within one year

(348,866)

(220,868)

Net current assets

207,097

145,415

Total assets less current liabilities

418,805

387,995

Creditors: amounts falling due after more than one year

(25,600)

(1,418)

Provisions for liabilities

(30,353)

(33,926)

362,852

352,651

Capital and reserves

Called up share capital

100

Profit and loss account

362,752

352,551

Shareholders' funds

362,852

352,651

PREMIUM HORTICULTURE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2014

- 2 -

For the financial year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 March 2015

Mr John Hedley

Director

Company Registration No. 02855205

PREMIUM HORTICULTURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts. A sale is recognised on despatch of the goods to the customer, which is the point at which the risks and rewards of ownership of the goods pass to the customer.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

10% and 25% Reducing Balance

Fixtures, fittings & equipment

10% Reducing Balance

Motor vehicles

25% Reducing Balance

1.4

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

PREMIUM HORTICULTURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2014

- 4 -

Fixed assets

Tangible assets

Cost

At 1 November 2013

607,737

Additions

58,709

Disposals

(117,513)

At 31 October 2014

548,933

Depreciation

At 1 November 2013

365,157

On disposals

(72,113)

Charge for the year

44,181

At 31 October 2014

337,225

Net book value

At 31 October 2014

211,708

At 31 October 2013

242,580

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100