David Austin Rose Nursery Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04881400 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2022

FOR

DAVID AUSTIN ROSE NURSERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D J C Austin

Mr R D C Austin

SECRETARY:

Mr T M Smith

REGISTERED OFFICE:

Bowling Green Lane

Albrighton

West Midlands

WV7 3HB

REGISTERED NUMBER:

04881400 (England and Wales)

AUDITORS:

Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

BANKERS:

HSBC Bank plc

Lichfield Street

PO Box 33

9 Queen Square

Wolverhampton

West Midlands

WV1 1TE

CURRENT ASSETS

13,936,872

Debtors

4

-

CREDITORS

537,356

Amounts falling due within one year

5

534,387

13,399,516

NET CURRENT (LIABILITIES)/ASSETS

(534,387

)

13,399,516

TOTAL ASSETS LESS CURRENT LIABILITIES

(534,387

)

CAPITAL AND RESERVES

1

Called up share capital

7

1

13,399,515

Retained earnings

(534,388

)

13,399,516

SHAREHOLDERS' FUNDS

(534,387

)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 20th January 2023 and were signed on its behalf by:

Mr D J C Austin - Director

1.	STATUTORY INFORMATION

David Austin Rose Nursery 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 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 contain information about David Austin Rose Nursery Limited as an individual company. With effect from 1st January 2021, the company's trade and assets were transferred to David Austin Roses Limited.

Financing transactions

Basic financial instruments are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Under FRS102, long term intercompany loans are recorded at present value using a market rate for a similar instrument.

Turnover

Turnover comprises the amount invoiced by the company to external customers for goods. Turnover is recognised when the risks and rewards of owning the goods has been passed to the customer, which is generally on delivery.

Interest receivable

Interest income is recognised using the effective interest method.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Assets are depreciated from the date that they are brought into use.

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.

Foreign currencies

In accordance with FRS102 transactions in foreign currencies are translated at the rates ruling when they occurred. Foreign currency monetary assets and liabilities are translated using the spot rate of exchange.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administration expenses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amounts of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised immediately in the income statement.

Group relief

The benefit of group relief is accounted for within the tax charge of the profit making undertaking. No payment is made for group relief between group undertakings.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 39 ).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

-

469

Amounts owed by group undertakings

-

13,936,403

-

13,936,872

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Amounts owed to group undertakings

534,387

-

Tax

-

534,856

Accrued expenses

-

2,500

534,387

537,356

6.	SECURED DEBTS

An unlimited Multilateral Guarantee dated 11 October 2017 has been given by the company and its now fellow subsidiary undertakings, David Austin Roses Limited and D A English Roses Limited, in favour of the company's bankers. In October 2019 a new guarantee has been given by the above companies together with the parent undertaking David Austin Roses (Holdings) Limited.

A cross guarantee exists between group companies whereby certain compensating bank balances are offset against each other. As at the company's balance sheet date, the company has no overdrawn bank balances subject to this offset.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

1

Ordinary

£1

1

1

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adrian Ralph FCA CTA (Senior Statutory Auditor)

for and on behalf of Stanton Ralph & Co Limited

9.	ULTIMATE PARENT UNDERTAKING

David Austin Roses (Holdings) Limited, the company's parent undertaking, prepares group accounts. The registered office of David Austin Roses (Holdings) Limited is Bowling Green Lane, Albrighton, Shropshire, WV7 3HB.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions or balances with its parent undertaking or fellow subsidiary undertakings within the group.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D J C Austin by virtue of his ownership of the parent undertaking and his ultimate responsibility for all group operating decisions.