Olivers Plants Limited,Ltd - AccountsLtd - Accounts

Olivers Plants Limited,Ltd - AccountsLtd - Accounts

OLIVERS PLANTS LIMITED - Company Information

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2023-02-01 06487691 2024-01-31 06487691 2023-02-01 2024-01-31 06487691 2023-01-31 06487691 2022-02-01 2023-01-31 06487691 uk-core:WithinOneYear 2023-01-31 06487691 uk-core:WithinOneYear 2024-01-31 06487691 uk-core:AfterOneYear 2023-01-31 06487691 uk-core:AfterOneYear 2024-01-31 06487691 uk-core:ShareCapital 2024-01-31 06487691 uk-core:ShareCapital 2023-01-31 06487691 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 06487691 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 06487691 uk-bus:Director1 2023-02-01 2024-01-31 06487691 uk-core:LeaseholdImprovements 2023-02-01 2024-01-31 06487691 uk-core:PlantMachinery 2023-02-01 2024-01-31 06487691 uk-core:ComputerEquipment 2023-02-01 2024-01-31 06487691 uk-core:CommercialMotorVehicles 2023-02-01 2024-01-31 06487691 uk-core:ComputerEquipment 2023-01-31 06487691 uk-core:CommercialMotorVehicles 2023-01-31 06487691 uk-core:PlantMachinery 2023-01-31 06487691 uk-core:LeaseholdImprovements 2023-01-31 06487691 uk-core:PlantMachinery 2024-01-31 06487691 uk-core:CommercialMotorVehicles 2024-01-31 06487691 uk-core:ComputerEquipment 2024-01-31 06487691 uk-core:LeaseholdImprovements 2024-01-31 06487691 uk-core:WithinOneYear uk-core:Secured 2024-01-31 06487691 uk-core:WithinOneYear uk-core:Secured 2023-01-31 06487691 uk-core:WithinOneYear 2024-01-31 06487691 uk-core:WithinOneYear 2023-01-31 06487691 uk-core:AfterOneYear uk-core:Secured 2024-01-31 06487691 uk-core:AfterOneYear uk-core:Secured 2023-01-31 iso4217:GBP xbrli:pure 06487691 uk-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06487691 uk-bus:FRS102 2023-02-01 2024-01-31 06487691 uk-bus:FilletedAccounts 2023-02-01 2024-01-31 06487691 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31
Olivers Plants Limited
Registered Number:06487691
For the year ended 31 January 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 January 2024
Olivers Plants Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
06487691
As at 31 January 2024
Olivers Plants Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
190,522
137,519
2
190,522
137,519
Current assets
Inventories
230,500
230,500
3
Trade and other receivables
441,128
514,144
4
10,861
Cash and cash equivalents
5,857
750,501
682,489
Trade and other payables: amounts falling due within one year
(369,131)
(420,144)
5
313,358
330,357
Net current assets
Total assets less current liabilities
520,879
450,877
Trade and other payables: amounts falling due after more than
one year
(233,699)
(245,130)
6
(20,141)
(20,141)
Provisions for liabilities
255,608
Net assets
197,037
Capital and reserves
Called up share capital
2
2
Retained earnings
255,606
197,035
255,608
197,037
Shareholders' funds
For the year ended 31 January 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
06487691
For the year ended 31 January 2024
Olivers Plants Limited
Statement of Financial Position Continued
Mr Oliver Harold Wass Director
These financial statements were approved and authorised for issue by the Board on 30 April 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 January 2024
Olivers Plants Limited
Notes to the Financial Statements
Statutory Information
Olivers Plants Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
06487691.
Registered address:
Broomfield Farm Nursery
Coggeshall Road
Earls Colne
Essex
CO6 2JX
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Buildings
2% Straight line
Plant and Machinery
25% Reducing balance
33% Reducing balance
Computer Equipment
25% Reducing balance
Motor Vehicles
Government grants
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entiy recognises expenses for the related costs for which the grants are intended to compensate.The enitity received CJRS grants totalling £xx,xxx for the year.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 January 2024
Olivers Plants Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
Leasehold
Buildings
£
£
£
£
£
Cost or valuation
At 01 February 2023
255,243
40,061
23,300
92,564
99,318
74,229
1,120
-
71,448
1,661
Additions
At 31 January 2024
164,012
23,300
41,181
329,472
100,979
Provision for depreciation and impairment
At 01 February 2023
117,724
29,181
14,872
55,145
18,526
Charge for year
21,226
3,957
2,108
10,112
5,049
At 31 January 2024
138,950
33,138
16,980
65,257
23,575
At 31 January 2024
Net book value
77,404
98,755
6,320
8,043
190,522
At 31 January 2023
80,792
37,419
8,428
10,880
137,519
3. Inventories
2023
2024
£
£
Stocks
230,500
230,500
4. Trade and other receivables
2023
2024
£
£
Trade debtors
67,900
7,853
Amounts owed by group undertakings and participating interests
446,244
433,275
441,128
514,144
The debtors above include the following amounts falling due after more than one year:
Amounts owed by group undertakings and participating interests
446,244
433,275
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7
For the year ended 31 January 2024
Olivers Plants Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
-
12,811
Bank loans and overdraft
82,267
20,111
Trade creditors
129,478
136,037
Taxation and social security
26,402
19,738
Accruals and deferred income
1,650
30,650
Directors' loan accounts
130,160
113,875
Other creditors
50,187
35,909
420,144
369,131
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
170,540
163,730
Bank loans and overdraft (secured)
74,590
69,969
245,130
233,699
7. Average number of persons employed
During the year the average number of employees was 26 (2023 : 22)
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