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Registration number: 04585725

Les Halman Nurseries Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Les Halman Nurseries Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Les Halman Nurseries Ltd

Company Information

Directors

Mr Stuart Eric Halman

Mrs Gillian Louise Julie Halman

Registered office

Parkside Farm
Crown Lane
Lower Peover
Knutsford
Cheshire
WA16 9QA

Accountants

The Moffatts Partnership LLP
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN

 

Les Halman Nurseries Ltd

(Registration number: 04585725)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

775,221

757,004

Current assets

 

Stocks

6

476,675

299,704

Debtors

7

152,852

196,653

Cash at bank and in hand

 

53,800

204,408

 

683,327

700,765

Creditors: Amounts falling due within one year

8

(289,366)

(259,802)

Net current assets

 

393,961

440,963

Total assets less current liabilities

 

1,169,182

1,197,967

Creditors: Amounts falling due after more than one year

8

(451,105)

(521,534)

Provisions for liabilities

(132,765)

(125,602)

Net assets

 

585,312

550,831

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

585,212

550,731

Shareholders' funds

 

585,312

550,831

 

Les Halman Nurseries Ltd

(Registration number: 04585725)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 August 2022 and signed on its behalf by:
 

.........................................
Mr Stuart Eric Halman
Director

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Parkside Farm
Crown Lane
Lower Peover
Knutsford
Cheshire
WA16 9QA
England

These financial statements were authorised for issue by the Board on 25 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

10% Straight Line

Fittings, Fixtures & Equipment

20% Straight Line

Motor Vehicles

20% Straight Line

Greenhouses & Freehold Property

7.5% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2020 - 28).

4

Profit before tax

Arrived at after charging/(crediting)

2021
£

2020
£

Depreciation expense

104,102

114,354

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

624,583

644,852

116,500

1,385,935

Additions

97,715

11,604

13,000

122,319

Disposals

-

-

(33,305)

(33,305)

At 31 December 2021

722,298

656,456

96,195

1,474,949

Depreciation

At 1 January 2021

227,166

305,760

96,005

628,931

Charge for the year

36,576

62,620

4,906

104,102

Eliminated on disposal

-

-

(33,305)

(33,305)

At 31 December 2021

263,742

368,380

67,606

699,728

Carrying amount

At 31 December 2021

458,556

288,076

28,589

775,221

At 31 December 2020

397,417

339,092

20,495

757,004

Included within the net book value of land and buildings above is £458,556 (2020 - £397,417) in respect of freehold land and buildings.
 

6

Stocks

2021
£

2020
£

Work in progress

-

99,897

Other inventories

476,675

199,807

476,675

299,704

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Debtors

Current

2021
£

2020
£

Trade debtors

142,344

188,323

Prepayments

2,817

4,253

Other debtors

7,691

4,077

 

152,852

196,653

8

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

10

36,260

26,280

Trade creditors

 

158,908

82,578

Taxation and social security

 

51,074

123,238

Accruals and deferred income

 

9,974

17,188

Other creditors

 

33,150

10,518

 

289,366

259,802

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

10

451,105

521,534

 

Les Halman Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary £1 Shares of £1 each

100

100

100

100

         

10

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

231,105

266,534

Other borrowings

220,000

255,000

451,105

521,534

2021
£

2020
£

Current loans and borrowings

Bank borrowings

36,260

26,280