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REGISTERED NUMBER: 08245947 (England and Wales)















DUTCH PLANTS DIRECT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






DUTCH PLANTS DIRECT LTD (REGISTERED NUMBER: 08245947)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


DUTCH PLANTS DIRECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: P Lovelace





REGISTERED OFFICE: 5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT





REGISTERED NUMBER: 08245947 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT

DUTCH PLANTS DIRECT LTD (REGISTERED NUMBER: 08245947)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 364,467 378,540

CURRENT ASSETS
Stocks 20,102 21,688
Debtors 5 9,464 7,527
Cash at bank and in hand 18,001 13,343
47,567 42,558
CREDITORS
Amounts falling due within one year 6 248,097 261,995
NET CURRENT LIABILITIES (200,530 ) (219,437 )
TOTAL ASSETS LESS CURRENT LIABILITIES 163,937 159,103

CREDITORS
Amounts falling due after more than one year 7 (16,246 ) (32,450 )

PROVISIONS FOR LIABILITIES (3,305 ) (5,646 )
NET ASSETS 144,386 121,007

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 144,286 120,907
SHAREHOLDERS' FUNDS 144,386 121,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 April 2024 and were signed by:





P Lovelace - Director


DUTCH PLANTS DIRECT LTD (REGISTERED NUMBER: 08245947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

The company's place of business is 7 Station Road, Kirton, Boston, Lincolnshire, PE20 1EF.

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.

Turnover
Turnover represents net sales of goods, excluding value added tax, and is recognised at the time of the sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and Straight line over 3 years

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

Stocks
Stocks being biological assets are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

DUTCH PLANTS DIRECT LTD (REGISTERED NUMBER: 08245947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase commitments
Assets obtained under hire purchase contracts are capitalised in the statement of financial position and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 319,683 106,814 426,497
Additions - 714 714
Disposals - (1,034 ) (1,034 )
At 31 October 2023 319,683 106,494 426,177
DEPRECIATION
At 1 November 2022 - 47,957 47,957
Charge for year - 14,787 14,787
Eliminated on disposal - (1,034 ) (1,034 )
At 31 October 2023 - 61,710 61,710
NET BOOK VALUE
At 31 October 2023 319,683 44,784 364,467
At 31 October 2022 319,683 58,857 378,540

The net book value of tangible fixed assets includes £ 29,538 (2022 - £ 39,384 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 9,464 7,527

DUTCH PLANTS DIRECT LTD (REGISTERED NUMBER: 08245947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,500 9,500
Hire purchase contracts 6,705 15,743
Trade creditors 24,116 26,034
Taxation 8,028 9,677
Other taxes and social security - 891
Value added tax 8,401 5,408
Other creditors 186,018 189,673
Directors' loan accounts 350 72
Accrued expenses 4,979 4,997
248,097 261,995

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 15,833 25,333
Hire purchase contracts 413 7,117
16,246 32,450

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100