Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Andrew Duncan Brain 29/04/2003 Catherine Brain 25/10/2006 Pamela Joyce Jackson 01/01/2023 29/04/2003 Robert Francis Jackson 01/01/2023 29/04/2003 26 March 2024 The principal activity of the Company continued to be that of horticultural nursery proprietors. 04713915 2023-12-31 04713915 bus:Director1 2023-12-31 04713915 bus:Director2 2023-12-31 04713915 bus:Director3 2023-12-31 04713915 bus:Director4 2023-12-31 04713915 2022-12-31 04713915 core:CurrentFinancialInstruments 2023-12-31 04713915 core:CurrentFinancialInstruments 2022-12-31 04713915 core:Non-currentFinancialInstruments 2023-12-31 04713915 core:Non-currentFinancialInstruments 2022-12-31 04713915 core:ShareCapital 2023-12-31 04713915 core:ShareCapital 2022-12-31 04713915 core:RetainedEarningsAccumulatedLosses 2023-12-31 04713915 core:RetainedEarningsAccumulatedLosses 2022-12-31 04713915 core:Goodwill 2022-12-31 04713915 core:Goodwill 2023-12-31 04713915 core:LeaseholdImprovements 2022-12-31 04713915 core:PlantMachinery 2022-12-31 04713915 core:Vehicles 2022-12-31 04713915 core:OfficeEquipment 2022-12-31 04713915 core:LeaseholdImprovements 2023-12-31 04713915 core:PlantMachinery 2023-12-31 04713915 core:Vehicles 2023-12-31 04713915 core:OfficeEquipment 2023-12-31 04713915 bus:OrdinaryShareClass1 2023-12-31 04713915 2023-01-01 2023-12-31 04713915 bus:FilletedAccounts 2023-01-01 2023-12-31 04713915 bus:SmallEntities 2023-01-01 2023-12-31 04713915 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04713915 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04713915 bus:Director1 2023-01-01 2023-12-31 04713915 bus:Director2 2023-01-01 2023-12-31 04713915 bus:Director3 2023-01-01 2023-12-31 04713915 bus:Director4 2023-01-01 2023-12-31 04713915 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 04713915 core:Goodwill 2023-01-01 2023-12-31 04713915 core:LeaseholdImprovements core:TopRangeValue 2023-01-01 2023-12-31 04713915 core:PlantMachinery 2023-01-01 2023-12-31 04713915 core:Vehicles 2023-01-01 2023-12-31 04713915 core:OfficeEquipment 2023-01-01 2023-12-31 04713915 2022-01-01 2022-12-31 04713915 core:LeaseholdImprovements 2023-01-01 2023-12-31 04713915 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 04713915 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04713915 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04713915 (England and Wales)

WOOLPIT NURSERIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WOOLPIT NURSERIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WOOLPIT NURSERIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
WOOLPIT NURSERIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Andrew Duncan Brain
Catherine Brain
SECRETARY Catherine Abigail Brain
REGISTERED OFFICE Gascoyne House Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
IP28 6JY
United Kingdom
COMPANY NUMBER 04713915 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
WOOLPIT NURSERIES LIMITED

BALANCE SHEET

As at 31 December 2023
WOOLPIT NURSERIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 84,889 94,274
84,889 94,274
Current assets
Stocks 5 258,544 194,278
Debtors 6 12,264 13,141
Cash at bank and in hand 55,318 71,295
326,126 278,714
Creditors: amounts falling due within one year 7 ( 79,005) ( 77,248)
Net current assets 247,121 201,466
Total assets less current liabilities 332,010 295,740
Creditors: amounts falling due after more than one year 8 ( 70,833) ( 80,833)
Net assets 261,177 214,907
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 261,077 214,807
Total shareholders' funds 261,177 214,907

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Woolpit Nurseries Limited (registered number: 04713915) were approved and authorised for issue by the Board of Directors on 26 March 2024. They were signed on its behalf by:

Andrew Duncan Brain
Director
WOOLPIT NURSERIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WOOLPIT NURSERIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Woolpit Nurseries Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Gascoyne House Moseleys Farm Business Centre, Fornham All Saints, Bury St Edmunds, IP28 6JY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 9

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 45,500 45,500
At 31 December 2023 45,500 45,500
Accumulated amortisation
At 01 January 2023 45,500 45,500
At 31 December 2023 45,500 45,500
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 January 2023 79,524 100,772 37,869 24,399 242,564
Additions 10,033 11,000 0 208 21,241
At 31 December 2023 89,557 111,772 37,869 24,607 263,805
Accumulated depreciation
At 01 January 2023 42,683 83,786 9,854 11,967 148,290
Charge for the financial year 13,893 5,621 7,004 4,108 30,626
At 31 December 2023 56,576 89,407 16,858 16,075 178,916
Net book value
At 31 December 2023 32,981 22,365 21,011 8,532 84,889
At 31 December 2022 36,841 16,986 28,015 12,432 94,274

5. Stocks

2023 2022
£ £
Stocks 258,544 194,278

6. Debtors

2023 2022
£ £
Trade debtors 2,577 3,419
Other debtors 9,687 9,722
12,264 13,141

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,000
Trade creditors 21,870 0
Taxation and social security 30,669 8,367
Other creditors 16,466 58,881
79,005 77,248

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 20,833 30,833
Other creditors 50,000 50,000
70,833 80,833

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100