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REGISTERED NUMBER: 00465053 (England and Wales)


















Berrygate Hill Nurseries Limited

Financial Statements for the Year Ended 30th November 2022






Berrygate Hill Nurseries Limited (Registered number: 00465053)






Contents of the Financial Statements
for the year ended 30th November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Berrygate Hill Nurseries Limited

Company Information
for the year ended 30th November 2022







DIRECTORS: P A Overvoorde
Mrs R J Overvoorde
R M Sayers FCA





SECRETARY: Mrs R J Overvoorde





REGISTERED OFFICE: Hull Road
Keyingham
East Yorkshire
HU12 9ST





REGISTERED NUMBER: 00465053 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Berrygate Hill Nurseries Limited (Registered number: 00465053)

Balance Sheet
30th November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,279,524 1,321,325
Investments 5 107,578 107,578
1,387,102 1,428,903

CURRENT ASSETS
Stocks 866,327 722,278
Debtors 6 1,189,194 1,083,250
Cash in hand 812 693
2,056,333 1,806,221
CREDITORS
Amounts falling due within one year 7 1,512,990 1,257,112
NET CURRENT ASSETS 543,343 549,109
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,930,445

1,978,012

CREDITORS
Amounts falling due after more than one
year

8

(769,769

)

(888,403

)

PROVISIONS FOR LIABILITIES (104,537 ) (86,102 )
NET ASSETS 1,056,139 1,003,507

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Retained earnings 1,011,139 958,507
SHAREHOLDERS' FUNDS 1,056,139 1,003,507

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2023 and were signed on its behalf by:





P A Overvoorde - Director


Berrygate Hill Nurseries Limited (Registered number: 00465053)

Notes to the Financial Statements
for the year ended 30th November 2022

1. STATUTORY INFORMATION

Berrygate Hill Nurseries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

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

Going concern
The financial statements continue to be prepared on a going concern basis.

The ability of the company to continue to meet its liabilities as they fall due is dependent upon the renewal of banking facilities. The existing facilities run until February 2024, at which time the bank will conduct their periodic review.

The directors do not consider this to constitute a material uncertainty over the company's ability to continue as a going concern given the substantial level of security that the group has to offer and the positive financial forecasts prepared. The directors have a reasonable expectation that facilities will be renewed at the level required to maximise the new and exciting opportunities that present.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is calculated to write down the cost of all fixed assets (excluding land) by equal annual instalments over their expected useful lives.

The rates generally applicable are:-
Buildings2%
Glasshouses5%
Plant andequipment20%
Motor Vehicles20%

Berrygate Hill Nurseries Limited (Registered number: 00465053)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

2. ACCOUNTING POLICIES - continued

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

Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that expenditure which has been incurred in the normal course of business in bringing the product to its present location and condition.

In the case of raw materials and consumable stores, cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in first out basis. In the case of work in progress and finished goods, cost consists of direct materials, direct labour and attributable production overheads based on normal levels of activity.

Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution.

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

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits
The company operates a defined contribution pension scheme. Contributions to this scheme are charged to the profit and loss account in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2021 - 28 ) .

Berrygate Hill Nurseries Limited (Registered number: 00465053)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

4. TANGIBLE FIXED ASSETS
Glass-houses
Freehold Freehold and
property land Buildings
£    £    £   
COST
At 1st December 2021 140,223 56,857 2,769,652
Additions - - -
At 30th November 2022 140,223 56,857 2,769,652
DEPRECIATION
At 1st December 2021 65,231 - 2,058,920
Charge for year 2,804 - 61,082
At 30th November 2022 68,035 - 2,120,002
NET BOOK VALUE
At 30th November 2022 72,188 56,857 649,650
At 30th November 2021 74,992 56,857 710,732

Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st December 2021 3,068,715 162,679 6,198,126
Additions 104,599 500 105,099
At 30th November 2022 3,173,314 163,179 6,303,225
DEPRECIATION
At 1st December 2021 2,651,543 101,107 4,876,801
Charge for year 70,491 12,523 146,900
At 30th November 2022 2,722,034 113,630 5,023,701
NET BOOK VALUE
At 30th November 2022 451,280 49,549 1,279,524
At 30th November 2021 417,172 61,572 1,321,325

The directors consider the market value of land, freehold property, glasshouses and buildings to be approximately £2,245,000 based on a professional valuation carried out in January 2020 for bank purposes.

Berrygate Hill Nurseries Limited (Registered number: 00465053)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st December 2021
and 30th November 2022 107,578
NET BOOK VALUE
At 30th November 2022 107,578
At 30th November 2021 107,578

6. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 644,077 508,118
Amounts owed by group undertakings 537,598 50,000
Other debtors 7,519 12,363
1,189,194 570,481

Amounts falling due after more than one year:
Amounts owed by group undertakings - 512,769

Aggregate amounts 1,189,194 1,083,250

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 581,222 598,978
Hire purchase contracts 12,131 9,728
Trade creditors 531,845 390,434
Amounts owed to group undertakings 14,922 14,922
Taxation and social security 39,884 22,346
Other creditors 332,986 220,704
1,512,990 1,257,112

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 419,921 543,020
Hire purchase contracts 49,848 45,383
Other creditors 300,000 300,000
769,769 888,403

Berrygate Hill Nurseries Limited (Registered number: 00465053)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank overdrafts 456,644 481,242
Bank loans 544,499 660,756
Hire purchase contracts 61,979 55,111
1,063,122 1,197,109

The bank overdraft, bank loans and hire purchase contracts are secured by fixed charges on the land and premises, a fixed charge on the company's book debts and a floating charge on all assets.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Lamb FCA CF (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

11. OTHER FINANCIAL COMMITMENTS

The company has given a unlimited multilateral guarantee in respect of borrowings of East End Nurseries (Keyingham) Limited. At 30th November 2022 the potential liability of the company under the arrangement was £247,350 (2021 £241,790).

At 30th November 2022 operating lease commitments total £80,417 (2021 £26,136) of which £78,491 (2021 £26,136) are due within one year.