Springhill Nurseries Ltd 05956828 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is tomato production Digita Accounts Production Advanced 6.30.9574.0 true true 05956828 2022-02-01 2023-01-31 05956828 2023-01-31 05956828 bus:OrdinaryShareClass1 2023-01-31 05956828 bus:OrdinaryShareClass2 2023-01-31 05956828 bus:Revised 2023-01-31 05956828 core:CurrentFinancialInstruments 2023-01-31 05956828 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 05956828 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 05956828 core:FurnitureFittingsToolsEquipment 2023-01-31 05956828 core:LandBuildings 2023-01-31 05956828 core:MotorVehicles 2023-01-31 05956828 core:OtherPropertyPlantEquipment 2023-01-31 05956828 bus:SmallEntities 2022-02-01 2023-01-31 05956828 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 05956828 bus:AbridgedAccounts 2022-02-01 2023-01-31 05956828 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 05956828 bus:RegisteredOffice 2022-02-01 2023-01-31 05956828 bus:CompanySecretary1 2022-02-01 2023-01-31 05956828 bus:Director1 2022-02-01 2023-01-31 05956828 bus:Director2 2022-02-01 2023-01-31 05956828 bus:Director4 2022-02-01 2023-01-31 05956828 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 05956828 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 05956828 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05956828 core:FurnitureFittings 2022-02-01 2023-01-31 05956828 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 05956828 core:LandBuildings 2022-02-01 2023-01-31 05956828 core:MotorVehicles 2022-02-01 2023-01-31 05956828 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 05956828 core:PlantMachinery 2022-02-01 2023-01-31 05956828 core:Vehicles 2022-02-01 2023-01-31 05956828 countries:England 2022-02-01 2023-01-31 05956828 2022-01-31 05956828 core:FurnitureFittingsToolsEquipment 2022-01-31 05956828 core:LandBuildings 2022-01-31 05956828 core:MotorVehicles 2022-01-31 05956828 core:OtherPropertyPlantEquipment 2022-01-31 05956828 2021-02-01 2022-01-31 05956828 2022-01-31 05956828 bus:OrdinaryShareClass1 2022-01-31 05956828 bus:OrdinaryShareClass2 2022-01-31 05956828 core:CurrentFinancialInstruments 2022-01-31 05956828 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 05956828 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 05956828 core:FurnitureFittingsToolsEquipment 2022-01-31 05956828 core:LandBuildings 2022-01-31 05956828 core:MotorVehicles 2022-01-31 05956828 core:OtherPropertyPlantEquipment 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05956828

Springhill Nurseries Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2023

 

Springhill Nurseries Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Springhill Nurseries Ltd

Company Information

Directors

Mr Richard S Holt

Mr Roland E S Holt

Mrs Laura J D Holt

Company secretary

Mrs Laura Holt

Registered office

Oak Corner
Offenham Cross
Eveshan
Worcester
WR11 8RB

Accountants

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

 

Springhill Nurseries Ltd

(Registration number: 05956828)
Abridged Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,096,408

2,194,831

Current assets

 

Stocks

5

595,000

513,700

Debtors

667,719

860,014

Cash at bank and in hand

 

85,598

293,951

 

1,348,317

1,667,665

Creditors: Amounts falling due within one year

(2,025,782)

(2,300,007)

Net current liabilities

 

(677,465)

(632,342)

Total assets less current liabilities

 

1,418,943

1,562,489

Creditors: Amounts falling due after more than one year

(137,686)

(404,783)

Provisions for liabilities

(192,963)

(210,473)

Net assets

 

1,088,294

947,233

Capital and reserves

 

Called up share capital

6

300

300

Retained earnings

1,087,994

946,933

Shareholders' funds

 

1,088,294

947,233

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.

Approved and authorised by the Board on 24 October 2023 and signed on its behalf by:
 

 

Springhill Nurseries Ltd

(Registration number: 05956828)
Abridged Balance Sheet as at 31 January 2023

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

 

Springhill Nurseries Ltd

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:
Oak Corner
Offenham Cross
Eveshan
Worcester
WR11 8RB

These financial statements were authorised for issue by the Board on 24 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.

 

Springhill Nurseries Ltd

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

Equipment, fixtures & fittings

25% reducing balance

Plant & machinery

25% 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.

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

 

Springhill Nurseries Ltd

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

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 42 (2022 - 39).

 

Springhill Nurseries Ltd

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

255,368

2,164,787

120,668

745,127

3,285,950

At 31 January 2023

255,368

2,164,787

120,668

745,127

3,285,950

Depreciation

At 1 February 2022

-

421,232

87,990

581,897

1,091,119

Charge for the year

-

70,267

8,170

19,986

98,423

At 31 January 2023

-

491,499

96,160

601,883

1,189,542

Carrying amount

At 31 January 2023

255,368

1,673,288

24,508

143,244

2,096,408

At 31 January 2022

255,368

1,743,555

32,678

163,230

2,194,831

Included within the net book value of land and buildings above is £255,368 (2022 - £255,368) in respect of freehold land and buildings.
 

 

Springhill Nurseries Ltd

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

5

Stocks

2023
£

2022
£

Raw materials and consumables

595,000

513,700

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

200

200

200

200

 

300

300

300

300