The Green House Norwich Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11696354 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST SEPTEMBER 2020 TO 30TH NOVEMBER 2021

FOR

THE GREEN HOUSE NORWICH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Koornneef

L E J Leerdam

REGISTERED OFFICE:

Kirby Road

Trowse

Norwich

Norfolk

NR14 8RS

REGISTERED NUMBER:

11696354 (England and Wales)

ACCOUNTANTS:

Bromley Clackett Limited

76 Aldwick Road

Bognor Regis

West Sussex

PO21 2PE

FIXED ASSETS

Tangible assets

4

1,986,667

-

CURRENT ASSETS

Stocks

530,305

-

Debtors

5

3,282,361

1,339,308

3,812,666

1,339,308

CREDITORS

Amounts falling due within one year

6

3,865,985

1,339,298

NET CURRENT (LIABILITIES)/ASSETS

(53,319

)

10

TOTAL ASSETS LESS CURRENT LIABILITIES

1,933,348

10

CREDITORS

Amounts falling due after more than one year

7

(1,589,861

)

-

PROVISIONS FOR LIABILITIES

(43,151

)

-

NET ASSETS

300,336

10

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

300,326

-

300,336

10

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th November 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th November 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 11th November 2022 and were signed on its behalf by:

L E J Leerdam - Director

1.	STATUTORY INFORMATION

The Green House Norwich Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are presented in Sterling and are rounded to the nearest pound.

The end of the financial year has been extended in order that the financial statements capture as close to a complete growing season as possible.

Significant judgements and estimates

The company makes certain estimates and assumptions regarding the future which are continually evaluated based on historical experience and other factors. The estimates and judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are limited to the depreciation of fixed assets.

Turnover

Turnover represents amounts receivable for the supply of produce during the accounting period irrespective of the timing of invoicing.

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 etc

-

33% on cost, 20% on cost, 15% on cost and 10% on cost

Depreciation is provided when assets are brought into economic use and on a pro rata basis.

Stocks

Stocks represent costs of sales incurred before the end of the period relating to the following seasons crop, general stocks and also a valuation of unsold crop whether harvested or otherwise at the end of the financial year.

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

Taxation

Taxation for the period 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 period 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 period was 9 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

2,209,998

At 30th November 2021

2,209,998

DEPRECIATION

Charge for period

223,331

At 30th November 2021

223,331

NET BOOK VALUE

At 30th November 2021

1,986,667

5.

DEBTORS

30.11.21

31.8.20

£

£

Amounts falling due within one year:

Trade debtors

499,918

-

Amounts owed by group undertakings

829,392

10

Other debtors

613,753

1,339,298

1,943,063

1,339,308

Amounts falling due after more than one year:

Other debtors

1,339,298

-

Aggregate amounts

3,282,361

1,339,308

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

31.8.20

£

£

Bank loans and overdrafts

995,687

-

Hire purchase contracts and finance leases (see note 8)

205,276

-

Trade creditors

450,391

-

Taxation and social security

21,326

-

Other creditors

2,193,305

1,339,298

3,865,985

1,339,298

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

31.8.20

£

£

Hire purchase contracts and finance leases (see note 8)

374,219

-

Other creditors

1,215,642

-

1,589,861

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

30.11.21

31.8.20

30.11.21

31.8.20

£

£

£

£

Net obligations repayable:

Within one year

87,649

-

117,627

-

Between one and five years

354,614

-

19,605

-

442,263

-

137,232

-

Non-cancellable operating

leases

30.11.21

31.8.20

£

£

Within one year

1,814,803

-

Between one and five years

7,590,988

-

In more than five years

26,962,370

-

36,368,161

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.21

31.8.20

£

£

Bank overdraft

995,687

-

Hire purchase contracts and finance leases

579,495

-

Invoice financing

157,808

-

Other loans

1,300,000

-

3,032,990

-

The debts above are secured by way of a mixture of fixed and floating charges over all assets.