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Registration number: 04807406

R & L Holt Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2023

 

R & L Holt Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

R & L Holt Limited

Company Information

Directors

Mrs Laura J D Holt

Mr Richard S Holt

Mr Roland E S Holt

Miss Felicity J D Holt

Company secretary

Mrs Laura J D Holt

Registered office

Sandylands Nurseries
Offenham Cross
Evesham
Worcs
WR11 8RB

Accountants

Oakleys Professional Limited
14 St. Owen Street
Hereford
HR1 2PL

 

R & L Holt Limited

(Registration number: 04807406)
Abridged Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,865,486

5,776,450

Current assets

 

Stocks

5

737,556

577,451

Debtors

2,064,726

2,144,414

Cash at bank and in hand

 

607

791

 

2,802,889

2,722,656

Prepayments and accrued income

 

10,692

42,383

Creditors: Amounts falling due within one year

(1,447,370)

(3,183,304)

Net current assets/(liabilities)

 

1,366,211

(418,265)

Total assets less current liabilities

 

7,231,697

5,358,185

Creditors: Amounts falling due after more than one year

(2,959,330)

(1,239,043)

Provisions for liabilities

(48,545)

(11,932)

Net assets

 

4,223,822

4,107,210

Capital and reserves

 

Called up share capital

6

300

300

Revaluation reserve

1,891,496

1,891,496

Retained earnings

2,332,026

2,215,414

Shareholders' funds

 

4,223,822

4,107,210

For the financial year ending 31 January 2023 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

R & L Holt Limited

(Registration number: 04807406)
Abridged Balance Sheet as at 31 January 2023

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

.........................................
Mrs Laura J D Holt
Director

 

R & L Holt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
Sandylands Nurseries
Offenham Cross
Evesham
Worcs
WR11 8RB
United Kingdom

These financial statements were authorised for issue by the Board on 23 October 2023.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

R & L Holt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

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

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Plant and machinery

25% & 5% reducing balance

Glasshouses

5% reducing balance

Solar panels

5% reducing balance

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.

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

The directors have chosen the fair value model basis for the valuation of biological assets under FRS 102.

 

R & L Holt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2022 - 38).

 

R & L Holt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

6,843,505

795,935

45,842

529,493

8,214,775

Revaluations

-

-

38,254

-

38,254

Additions

84,949

235,620

-

-

320,569

At 31 January 2023

6,928,454

1,031,555

84,096

529,493

8,573,598

Depreciation

At 1 February 2022

1,742,411

255,696

38,747

401,471

2,438,325

Charge for the year

156,334

85,820

11,337

16,296

269,787

At 31 January 2023

1,898,745

341,516

50,084

417,767

2,708,112

Carrying amount

At 31 January 2023

5,029,709

690,039

34,012

111,726

5,865,486

At 31 January 2022

5,101,094

540,239

7,095

128,022

5,776,450

Included within the net book value of land and buildings above is £5,029,709 (2022 - £5,101,094) in respect of freehold land and buildings.
 

 

R & L Holt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

5

Stocks

2023
£

2022
£

Raw materials and consumables

737,556

577,451

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary 'A' shares of £1 each

200

200

200

200

 

300

300

300

300