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REGISTERED NUMBER: 01417996 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Tamar Nurseries Limited

Tamar Nurseries Limited (Registered number: 01417996)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Tamar Nurseries Limited (Registered number: 01417996)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £ £
Fixed assets
Tangible assets 5 3,456,311 3,087,000
Investments 6 3,001 3,001
3,459,312 3,090,001

Current assets
Stocks 532,422 313,058
Debtors 7 620,264 863,386
Cash at bank and in hand 40,476 31,274
1,193,162 1,207,718
Creditors
Amounts falling due within one year 8 (866,933 ) (805,585 )
Net current assets 326,229 402,133
Total assets less current liabilities 3,785,541 3,492,134

Creditors
Amounts falling due after more than one
year

9

(960,169

)

(806,356

)

Provisions for liabilities (186,187 ) (210,006 )
Net assets 2,639,185 2,475,772

Tamar Nurseries Limited (Registered number: 01417996)

Balance Sheet - continued
30 June 2023

30.6.23 30.6.22
Notes £ £
Capital and reserves
Called up share capital 15,000 15,000
Revaluation reserve 10 793,966 793,966
Capital redemption reserve 90,000 90,000
Retained earnings 1,740,219 1,576,806
2,639,185 2,475,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2023 and were signed by:





Mr J D Huibers - Director


Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

Tamar Nurseries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01417996

Registered office: West Drove South
Walpole Highway
Wisbech
Cambridgeshire
PE14 7RA

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 25% p.a. reducing balance
Fixtures and fittings - 25% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance
Computer equipment - 25% p.a. reducing balance

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

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are initially recorded at cost,and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. the cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.


Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employees and directors

The average number of employees during the year was 29 (2022 - 24 ) .

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Cost
At 1 July 2022 2,610,183 1,251,892 51,208
Additions 297,201 96,592 -
Disposals - (34,225 ) -
At 30 June 2023 2,907,384 1,314,259 51,208
Depreciation
At 1 July 2022 279,987 524,945 51,165
Charge for year 13,920 75,106 11
Eliminated on disposal - (23,830 ) -
At 30 June 2023 293,907 576,221 51,176
Net book value
At 30 June 2023 2,613,477 738,038 32
At 30 June 2022 2,330,196 726,947 43

Motor Computer
vehicles equipment Totals
£ £ £
Cost
At 1 July 2022 81,160 49,326 4,043,769
Additions 95,000 - 488,793
Disposals - - (34,225 )
At 30 June 2023 176,160 49,326 4,498,337
Depreciation
At 1 July 2022 52,067 48,605 956,769
Charge for year 19,870 180 109,087
Eliminated on disposal - - (23,830 )
At 30 June 2023 71,937 48,785 1,042,026
Net book value
At 30 June 2023 104,223 541 3,456,311
At 30 June 2022 29,093 721 3,087,000

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. Tangible fixed assets - continued

Tangible assets held at valuation

Certain assets included in Freehold Land and Buildings were valued on an open market basis on 27th April 2002 by Timothy Lea & Griffiths. Details of the assets valued in 2002 are as follows:-

Land valued at £700,000 (2022: £700,000) which is not depreciated. Buildings valued at £359,734 (2022: £359,734), with accumulated depreciation at 30th June 2023 of £246,095 (2022: £234,900 and a net book value at balance sheet date of £113,639 (2022: £124,834).

6. Fixed asset investments
Other
investments
£
Cost
At 1 July 2022
and 30 June 2023 3,001
Net book value
At 30 June 2023 3,001
At 30 June 2022 3,001

The investment relates to shares held in an unquoted company.

7. Debtors: amounts falling due within one year
30.6.23 30.6.22
£ £
Trade debtors 570,134 838,760
Other debtors 50,130 24,626
620,264 863,386

8. Creditors: amounts falling due within one year
30.6.23 30.6.22
£ £
Bank loans and overdrafts 86,000 131,335
Hire purchase contracts 26,215 6,100
Trade creditors 642,958 539,395
Taxation and social security 99,961 115,514
Other creditors 11,799 13,241
866,933 805,585

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


9. Creditors: amounts falling due after more than one year
30.6.23 30.6.22
£ £
Bank loans 874,561 804,831
Hire purchase contracts 85,608 1,525
960,169 806,356

10. Reserves
Revaluation
reserve
£
At 1 July 2022
and 30 June 2023 793,966

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

11. Related party disclosures

The company was under the control of Mr J D Huibers throughout the current and previous year. Mr J D Huibers is the managing director and majority shareholder.