New Hollybeck Nurseries Limited Filleted accounts for Companies House (small and micro)

New Hollybeck Nurseries Limited Filleted accounts for Companies House (small and micro)

NEW HOLLYBECK NURSERIES LIMITED - Company Information

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37 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2 2 2 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 04457592 2022-02-01 2023-01-31 04457592 2023-01-31 04457592 2022-01-31 04457592 2021-02-01 2022-01-31 04457592 2022-01-31 04457592 core:PlantMachinery 2022-02-01 2023-01-31 04457592 core:MotorVehicles 2022-02-01 2023-01-31 04457592 bus:Director1 2022-02-01 2023-01-31 04457592 core:LandBuildings 2022-01-31 04457592 core:PlantMachinery 2022-01-31 04457592 core:MotorVehicles 2022-01-31 04457592 core:LandBuildings 2023-01-31 04457592 core:PlantMachinery 2023-01-31 04457592 core:MotorVehicles 2023-01-31 04457592 core:WithinOneYear 2023-01-31 04457592 core:WithinOneYear 2022-01-31 04457592 core:AfterOneYear 2023-01-31 04457592 core:AfterOneYear 2022-01-31 04457592 core:ShareCapital 2023-01-31 04457592 core:ShareCapital 2022-01-31 04457592 core:RetainedEarningsAccumulatedLosses 2023-01-31 04457592 core:RetainedEarningsAccumulatedLosses 2022-01-31 04457592 core:BetweenOneFiveYears 2023-01-31 04457592 core:BetweenOneFiveYears 2022-01-31 04457592 core:MoreThanFiveYears 2023-01-31 04457592 core:MoreThanFiveYears 2022-01-31 04457592 core:NetGoodwill 2023-01-31 04457592 core:NetGoodwill 2022-01-31 04457592 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 04457592 core:Non-currentFinancialInstruments 2023-01-31 04457592 core:Non-currentFinancialInstruments 2022-01-31 04457592 core:LandBuildings 2022-01-31 04457592 core:PlantMachinery 2022-01-31 04457592 core:MotorVehicles 2022-01-31 04457592 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-01-31 04457592 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-01-31 04457592 bus:SmallEntities 2022-02-01 2023-01-31 04457592 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 04457592 bus:FullAccounts 2022-02-01 2023-01-31 04457592 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 04457592 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 04457592
NEW HOLLYBECK NURSERIES LIMITED
Filleted Unaudited Financial Statements
31 January 2023
NEW HOLLYBECK NURSERIES LIMITED
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
2
2
Tangible assets
6
146,202
86,341
Investments
7
100
100
---------
--------
146,304
86,443
Current assets
Stocks
135,000
112,000
Debtors
8
464,073
449,384
Cash at bank and in hand
50,018
76,232
---------
---------
649,091
637,616
Prepayments and accrued income
6,055
1,946
Creditors: amounts falling due within one year
9
208,303
201,869
---------
---------
Net current assets
446,843
437,693
---------
---------
Total assets less current liabilities
593,147
524,136
Creditors: amounts falling due after more than one year
10
56,409
47,210
Provisions
Taxation including deferred tax
19,666
13,272
---------
---------
Net assets
517,072
463,654
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
517,070
463,652
---------
---------
Shareholder funds
517,072
463,654
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
NEW HOLLYBECK NURSERIES LIMITED
Statement of Financial Position (continued)
31 January 2023
For the year ending 31st January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 October 2023 , and are signed on behalf of the board by:
Mr C I Orme
Director
Company registration number: 04457592
NEW HOLLYBECK NURSERIES LIMITED
Notes to the Financial Statements
Year ended 31st January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Newstead Grove, NOTTINGHAM, NOTTINGHAMSHIRE, NG1 4GZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover is derived from the sale of plants and related garden products to third parties after deducting discounts and VAT. Turnover is recognised at the point at sale.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery etc
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Land is not depreciated.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 37 (2022: 33 ).
5. Intangible assets
Goodwill
£
Cost
At 1st February 2022 and 31st January 2023
2
----
Amortisation
At 1st February 2022 and 31st January 2023
–
----
Carrying amount
At 31st January 2023
2
----
At 31st January 2022
2
----
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1st February 2022
16,607
262,303
41,735
320,645
Additions
–
55,246
36,623
91,869
--------
---------
--------
---------
At 31st January 2023
16,607
317,549
78,358
412,514
--------
---------
--------
---------
Depreciation
At 1st February 2022
–
198,930
35,374
234,304
Charge for the year
–
29,655
2,353
32,008
--------
---------
--------
---------
At 31st January 2023
–
228,585
37,727
266,312
--------
---------
--------
---------
Carrying amount
At 31st January 2023
16,607
88,964
40,631
146,202
--------
---------
--------
---------
At 31st January 2022
16,607
63,373
6,361
86,341
--------
---------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 31st January 2023
35,860
--------
At 31st January 2022
17,962
--------
7. Investments
Other investments other than loans
£
Cost
At 1st February 2022 and 31st January 2023
100
----
Impairment
At 1st February 2022 and 31st January 2023
–
----
Carrying amount
At 31st January 2023
100
----
At 31st January 2022
100
----
The company owns 100% of the issued share capital of Hollybeck Nurseries Limited a dormant company. The above £100 represents aggregate capital and reserves of the company.
8. Debtors
2023
2022
£
£
Trade debtors
–
379
Amounts owed by group undertakings and undertakings in which the company has a participating interest
462,132
443,132
Other debtors
1,941
5,873
---------
---------
464,073
449,384
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,648
10,648
Trade creditors
107,704
121,199
Corporation tax
3,303
15,900
Social security and other taxes
26,294
17,334
Other creditors
60,354
36,788
---------
---------
208,303
201,869
---------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
27,431
36,997
Other creditors
28,978
10,213
--------
--------
56,409
47,210
--------
--------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
80,000
82,845
Later than 1 year and not later than 5 years
320,000
322,846
Later than 5 years
882,849
960,003
------------
------------
1,282,849
1,365,694
------------
------------
12. Other financial commitments
The company has given a debenture comprising a fixed and floating charge over all its assets in respect of banks loans of its parent company Greycat Garden Centres Limited.
13. Controlling party
The name of the parent undertaking is Greycat Garden Centres Limited a company registered in England and Wales .Registered Office 17 Newstead Grove, Nottingham NG1 4GZ
14. Comparatives
The 2022 figure for bank loans and overdrafts over one year included £10,648 payable within one year which is now included under that heading.