Registered number
02570425
EUROPLANTS (UK) LTD
Filleted Accounts
31 January 2023
EUROPLANTS (UK) LTD
Report and accounts
Contents
Page
Company information 1
Consolidated Statement of Financial Position 2
Company Statement of Financial Position 3
Notes to the Financial statements 4-11
EUROPLANTS (UK) LTD
Company Information
Directors
The Late R A C Canale - Managing Director - Deceased 17 May 2021
Valerie Canale - Appointed on 05 March 2021
Fabienne Canale Thomson - Appointed on 15 March 2021
Secretary
Valerie Canale
Accountants
H Plaskow & Co
Chartered Certified Accountants
208 Green Lanes
Palmers Green
London
N13 5UE
Bankers
Handelsbanken
Svenska Handelsbanken AB (publ)
2nd Floor, East Suite
Nicholas House, River Front
Enfield
EN1 3TF
Registered office
Great North Road
Bell Bar A1000
Nr Hatfield
Hertfordshire
AL9 6DA
Registered number
02570425
EUROPLANTS (UK) LTD
Registered number: 02570425
Consolidated Statement of Financial Position
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 10 2,776,786 2,436,892
Investments 11 2,043,746 2,043,746
4,820,532 4,480,638
Current assets
Stocks 12 1,135,543 887,647
Debtors 13 1,176,254 1,299,963
Cash at bank and in hand 6,545,011 6,467,420
8,856,808 8,655,030
Creditors: amounts falling due within one year 14 (3,221,651) (3,586,737)
Net current assets 5,635,157 5,068,293
Total assets less current liabilities 10,455,689 9,548,931
Provisions for liabilities 15 (50,526) (39,340)
Net assets 10,405,163 9,509,591
Capital and reserves
Called up share capital 450 450
Profit and loss account 10,404,713 9,509,141
Shareholders' funds 10,405,163 9,509,591
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Valerie Canale Fabienne Canale
Director Director
Approved by the board on 16 October 2023 Approved by the board on 16 October 2023
EUROPLANTS (UK) LTD
Registered number: 02570425
Company Statement of Financial Position
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 10 2,048,521 1,708,539
Investments 11 2,043,746 2,043,746
4,092,267 3,752,285
Current assets
Stocks 12 1,135,543 887,647
Debtors 13 1,144,958 1,279,535
Cash at bank and in hand 6,303,728 6,254,097
8,584,229 8,421,279
Creditors: amounts falling due within one year 14 (3,204,934) (3,568,212)
Net current assets 5,379,295 4,853,067
Total assets less current liabilities 9,471,562 8,605,352
Provisions for liabilities 15 (50,526) (39,340)
Net assets 9,421,036 8,566,012
Capital and reserves
Called up share capital 450 450
Profit and loss account 9,420,586 8,565,562
Shareholders' funds 9,421,036 8,566,012
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Valerie Canale Fabienne Canale
Director Director
Approved by the board on 16 October 2023 Approved by the board on 16 October 2023
EUROPLANTS (UK) LTD
Notes to the Accounts
for the year ended 31 January 2023
1 General Information
Europlants (UK) Ltd is a company limited by shares, incorporated in England and Wales. Its registered office is Great North,Bell Bar A1000, Nr Hatfield, Hertfordshire, AL9 6DA.
2 Accounting policies
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
The individual financial statements of Europlants (UK) Ltd have been prepared in accordance with the provisions of Section
1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" and the Companies Act 2006.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are presented in Sterling (£).
The group financial statements consolidate the financial statements of Europlants (UK) LTD and all its subsidiary undertaking drawn
up to 31 January each year.
All intra-group transactions, balances and unrealised gains or transactions between group companies are eliminated on consolidation.
Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into
line with those used by other members of the group.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and
operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective
date of acquisition or up to the effective date of disposal, as appropriate. Where necessary adjustments are made to the financial
statements of subsidiaries to bring their accounting policies into line with those used by the group.
The parent company has taken advantage of section 408 of the Company Act 2006 and has not included its own Profit and Loss
Account in these financial statements, The parent company's profit for the year was £955,025. (2022: 1,006,960 ).
Going Concern
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate
resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern
basis in preparing its consolidated financial statements.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Sale of goods
The group sells indoor and outdoor plants together with related sundries during the year. Sale of goods are recognised when
the group has delivered plants to the customer and no other significant obligation remains unfulfilled that may affect the
customer's acceptance of the products. When plants are delivered revenue is recognised when it is completed. The risk of
obsolescence and loss of the plants are considered to have been transferred to the customers when the products are
shipped to the location specified by the customer, and the customer has accepted them.
Interest income
Interest income is recognised using the effective interest method.
Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease
payments are structured to increase in line with expected general inflation in which case the income is recognised as
revenue in accordance with the expected payments. Rental income is included in other income from fixed assets.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Property, plant and equipment
Land and buildings are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation
and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the
carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting
period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset
and the net amount is restated to the revalued amount of the asset.
Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive income and
included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset
previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease
previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income
and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset
are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the
asset recognised in profit or loss and depreciation based on the asset's original cost is transferred from revaluation reserve to
retained earnings.
Land and buildings were carried at cost less accumulated depreciation and impairment in previous periods. The use of a policy
of revaluation provides more relevant and reliable information about the vale of the property owned by the company.
Vehicles and machinery are carried at cost less accumulated depreciation and accumulated impairment losses.
Land is not depreciated. Depreciation on other assets is calculated so as to write off the cost or valuation of an asset, less its
residual value, over their estimated useful lives as follows:
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold, industrial buildings and improvements 2% on cost
Fixtures and fittings 10% on reducing balance
Motor vehicles 25% on reducing balance
Plant and machinery 10% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Income tax
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years.

A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred taxation is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that 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 differences. Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.
Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.
Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand 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 to changes in value.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing and hire purchase commitments
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

Rights to use assets and corresponding obligations to lessors finance leases are recognised in the statement of financial position as assets and liabilities at the lower of fair value of the assets and the present value of the minimum lease payments, determined at the inception of the lease.

Lease payments are apportioned between finance charges and reduction of outstanding lease liabilities using the effective interest method, so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in profit or loss.

Assets held under finance leases are included in property, plant and equipment and are depreciated and reviewed for impairment in the same way as assets owned outright.

Payments received under operating leases are recognised as income over the lease term on a straight-line basis.


Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Judgements and key sources of estimation uncertainty
An entity shall disclose the judgements, apart from those involving estimations, that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

An entity shall disclose in the notes information about the key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. In respect of those assets and liabilities, the notes shall include details of their nature; and their carrying amount as at the end of the reporting period.

No significant judgements have had to be made by management in preparing these financial statements.
4 Analysis of turnover
2023 2022
£ £
By activity
Plant wholesale 8,539,621 9,431,550
8,539,621 9,431,550
By geographical market:
UK 8,539,621 9,431,550
8,539,621 9,431,550
5 Cost of sales and net operating expenses
The total figures for continuing operations in 2023 include the following amounts relating to
acquisitions: cost of sales £5,653,737 and administrative expenses totalling £1,706,024.
6 Operating profit 2023 2022
£ £
This is stated after charging:
Depreciation of owned fixed assets 64,457 42,358
Amortisation of improvements 11,652 5,784
7 Director's emoluments 2023 2022
£ £
Emoluments 77,451 111,000
77,451 111,000
8 Staff costs 2023 2022
£ £
Wages and salaries 816,528 792,396
Social security costs 81,703 87,540
Other pension costs 26,403 26,885
924,634 906,821
Average number of employees during the year
2023 2022
Number Number
Administration and management 9 9
Office employees 16 14
Total 25 23
The group operates a stakeholder defined contribution pension scheme for the benefit of the
employees and directors. Pension payments recognised as expenses during the year amounting
to £26,403.
9 Taxation 2023 2022
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 213,891 252,029
MKM Nurseries-Post acquisition Corporation tax - -
Adjustments in respect of previous periods - -
213,891 252,029
Deferred tax:
Origination and reversal of timing differences 11,186 (7,362)
11,186 (7,362)
Tax on profit on ordinary activities 225,077 244,667
Profit attributable to members of the parent company
The group
2023 2022
£ £
Dealt with the financial statements 995,572 1,044,419
10 Tangible fixed assets
Group
Leasehold industrial building and improvement Fixtures, Fittings, Tools and Equipment Plant and machinery etc Land and buildings Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 289,209 222,837 422,656 2,019,773 418,029 3,372,504
Additions 293,374 1,800 353 - 120,475 416,002
At 31 January 2023 582,583 224,637 423,009 2,019,773 538,504 3,788,506
Depreciation
At 1 February 2022 93,359 164,276 339,569 - 338,408 935,612
Charge for the year 11,652 6,687 7,745 - 50,024 76,108
At 31 January 2023 105,011 170,963 347,314 - 388,432 1,011,720
Net book value
At 31 January 2023 477,572 53,674 75,695 2,019,773 150,072 2,776,786
At 31 January 2022 195,850 58,561 83,087 2,019,773 79,621 2,436,892
Company
Leasehold industrial building and improvement Fixtures, Fittings, Tools and Equipment Plant and machinery etc Land and buildings Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 289,209 160,279 341,155 1,291,773 418,029 2,500,445
Additions 293,374 1,800 353 - 120,475 416,002
At 31 January 2023 582,583 162,079 341,508 1,291,773 538,504 2,916,447
Depreciation
At 1 February 2022 93,358 94,678 265,462 - 338,408 791,906
Charge for the year 11,652 6,684 7,660 - 50,024 76,020
At 31 January 2023 105,010 101,362 273,122 - 388,432 867,926
Net book value
At 31 January 2023 477,573 60,717 68,386 1,291,773 150,072 2,048,521
At 31 January 2022 195,851 65,601 75,693 1,291,773 79,621 1,708,539
11 Investments
The group The company
2023 2022 2023 2022
£ £ £ £
Interests in subsidiaries 2,023,746 2,023,746 2,023,746 2,023,746
Other investments 20,000 20,000 20,000 20,000
At 31 January 2023 2,043,746 2,043,746 2,043,746 2,043,746
Holding of 100%
The company holds 100% of the share capital of the following company:
Type of Proportion Country of Nature of
shares hold held % incorporation business
Subsidiary
MKM Nurseries Ltd Ordinary 100% UK Nursery and
garden
services
On 4 December 2014 Europlants (UK) Ltd acquired the entire share capital of MKM Nurseries Ltd
for a cash consideration of £2,023,746. The investment was incurred to increase the market shares
of Europlants (UK) Ltd. MKM Nurseries Ltd has been accounted for using the acquisition method
of accounting. The assets and liabilities of MKM Nurseries Ltd have been consolidated at their fair
values to the group.
The company has also invested £20,000 to acquire 4 Ordinary shares of £1 each of Oakgrange Ltd
in 2016.
The company
Investments in
subsidiary Other
undertakings investments Total
2023 2023 2023
Cost
At 1 February 2022 2,023,746 20,000 2,043,746
Additions - - -
Disposals - - -
At 31 January 2023 2,023,746 20,000 2,043,746
12 Stocks
The group The company
2023 2022 2023 2022
£ £ £ £
Finished goods and goods for resale 1,135,543 887,647 1,135,543 887,647
1,135,543 887,647 1,135,543 887,647
13 Debtors
The Group The Company
2023 2022 2023 2022
£ £ £ £
Trade debtors 1,106,841 1,172,776 1,106,841 1,172,776
Other debtors 69,413 127,187 38,117 106,759
1,176,254 1,299,963 1,144,958 1,279,535
14 Creditors: amounts falling due within one year
The Group The Company
2023 2022 2023 2022
£ £ £ £
Trade creditors 2,486,383 2,974,951 2,486,383 2,974,951
Corporation Tax 213,892 252,029 204,359 243,223
Taxation and social security costs 38,493 67,566 38,193 67,263
Accruals and Deferred Income 198,078 166,617 196,767 163,983
Other creditors 284,805 125,574 279,232 118,792
3,221,651 3,586,737 3,204,934 3,568,212
15 Deferred taxation
The group The company
2023 2022 2023 2022
£ £ £ £
Accelerated capital allowances 50,526 39,340 50,526 39,340
Tax losses carried forward
Undiscounted provision for deferred tax 50,526 39,340 50,526 39,340
Discounted provision for deferred tax 50,526 39,340 50,526 39,340
The group The company
2023 2022 2023 2022
£ £ £ £
At 1 February 2022 39,340 46,702 39,340 46,702
Deferred tax charge in profit and loss
account 11,186 (7,362) 11,186 (7,362)
At 31 January 2023 50,526 39,340 50,526 39,340
16 Share Capital
Share capital Nominal 2020 2023 2022
value Number
Allotted, called up and fully paid:
Ordinary shares £1 each 450 450 450
450 450
17 Profit and loss account
The group The company
2023 2022 2023 2022
£ £ £ £
At 1 February 2022 9,509,141 8,533,222 8,565,562 7,627,102
Profit for the year 995,572 1,044,419 955,024 1,006,960
Dividends (100,000) (68,500) (100,000) (68,500)
At 31 January 2023 10,404,713 9,509,141 9,420,586 8,565,562
18 Dividends
The group The company
2023 2022 2023 2022
£ £ £ £
Dividends for which the company
became liable during the year
Dividends paid (100,000) (68,500) (100,000) (68,500)
(100,000) (68,500) (100,000) (68,500)
Analysis of dividends by type:
Equity dividends (note 19) (100,000) (68,500) (100,000) (68,500)
(100,000) (68,500) (100,000) (68,500)
19 Reconciliation of movement in shareholders' funds
The group The company
2023 2022 2023 2022
£ £ £ £
At 1 February 2022 9,509,141 8,533,222 8,565,562 7,627,102
Profit for the financial year 995,572 1,044,419 955,024 1,006,960
Dividends (100,000) (68,500) (100,000) (68,500)
At 31 January 2023 10,404,713 9,509,141 9,420,586 8,565,562
20 Related party transactions
Group
The group is taking advantage of the exemptions in Financial Reporting Standard 8, paragraph 3c, not
to disclose transactions with related parties within the group where 100% of the voting rights are controlled
by the group.
21 Controlling party
The group was under the control of the director, The Late Mr R A C Canale who holds more than 90% of the voting
share capital of the group.
22 Other information
EUROPLANTS (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Great North Road
Bell Bar A1000
Nr Hatfield
Hertfordshire
AL9 6DA
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