Company No: 04135298 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	1,952,974		1,427,556
		1,952,974		1,427,556
Current assets
Stocks		800,000		525,000
Debtors	4	330,050		476,673
Cash at bank and in hand		1,174,205		1,382,886
		2,304,255		2,384,559
Creditors
Amounts falling due within one year	5	( 2,174,723)		( 1,895,819)
Net current assets		129,532		488,740
Total assets less current liabilities		2,082,506		1,916,296
Provision for liabilities		( 317,947)		( 155,776)
Net assets		1,764,559		1,760,520
Capital and reserves
Called-up share capital	6	20,008		20,008
Profit and loss account		1,744,551		1,740,512
Total shareholder's funds		1,764,559		1,760,520

For the financial year ending 28 February 2022 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Joyners Plants Limited (registered number: 04135298) were approved and authorised for issue by the Board of Directors on 25 October 2022. They were signed on its behalf by:

Mr M R Joyner Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Joyners Plants Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Forches Cross, Forches Cross Road, Newton Abbot, Devon, TQ12 6PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	0 - 10 years straight line
Plant and machinery	5 years straight line
Vehicles	4 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	102		90

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 March 2021	953,183		1,148,031		384,033		63,909		2,549,156
Additions	33,424		246,489		409,816		58,871		748,600
Disposals	0		0		( 9,500)		0		( 9,500)
At 28 February 2022	986,607		1,394,520		784,349		122,780		3,288,256
Accumulated depreciation
At 01 March 2021	218,879		545,794		305,477		51,450		1,121,600
Charge for the financial year	17,879		117,353		69,895		18,055		223,182
Disposals	0		0		( 9,500)		0		( 9,500)
At 28 February 2022	236,758		663,147		365,872		69,505		1,335,282
Net book value
At 28 February 2022	749,849		731,373		418,477		53,275		1,952,974
At 28 February 2021	734,304		602,237		78,556		12,459		1,427,556

4. Debtors

	2022		2021
	£		£
Amounts owed by Group undertakings	218,533		150,000
Other debtors	111,517		326,673
	330,050		476,673

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Trade creditors	1,750,060		1,315,358
Corporation tax	( 66,061)		2,820
Other taxation and social security	28,299		19,715
Obligations under finance leases and hire purchase contracts	0		14,217
Other creditors	462,425		543,709
	2,174,723		1,895,819

6. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
20,002 Ordinary A shares of £ 1.00 each	20,002		20,002
1 Non-voting convertible Ordinary B share of £ 1.00	1		1
1 Non-voting Ordinary C share of £ 1.00	1		1
1 Non-voting Ordinary D share of £ 1.00	1		1
1 Non-voting Ordinary E share of £ 1.00	1		1
1 Ordinary F share of £ 1.00	1		1
1 Ordinary G share of £ 1.00	1		1
	20,008		20,008

7. Financial commitments

Commitments

Capital commitments are as follows:

	2022		2021
	£		£
Contracted for but not provided for:
	149,500		212,500

8. Ultimate controlling party

Parent Company:

Joyner Holdings Limited

The most senior parent entity producing publicly available financial statements is Joyner Holdings Limited, incorporated in England. These financial statements are available upon request from Companies House.