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REGISTERED NUMBER: 08416428 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Growing Plants 4u Ltd.

Growing Plants 4u Ltd. (Registered number: 08416428)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Growing Plants 4u Ltd.

Company Information
for the Year Ended 29 February 2024







DIRECTOR: C A Roberts





REGISTERED OFFICE: Parkview Nurseries
Theobalds Park Road
Crews Hill
Enfield
Middlesex
EN2 9BQ





REGISTERED NUMBER: 08416428 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Growing Plants 4u Ltd. (Registered number: 08416428)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 4,000
Tangible assets 6 1,085,023 590,730
1,085,023 594,730

CURRENT ASSETS
Stocks 3,400,000 2,250,000
Debtors 7 792,265 655,998
Cash at bank and in hand 6,144 6,472
4,198,409 2,912,470
CREDITORS
Amounts falling due within one year 8 4,205,949 2,545,861
NET CURRENT (LIABILITIES)/ASSETS (7,540 ) 366,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,077,483

961,339

PROVISIONS FOR LIABILITIES 122,991 88,597
NET ASSETS 954,492 872,742

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 954,392 872,642
SHAREHOLDERS' FUNDS 954,492 872,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Growing Plants 4u Ltd. (Registered number: 08416428)

Balance Sheet - continued
29 February 2024


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 director and authorised for issue on 3 August 2024 and were signed by:





C A Roberts - Director


Growing Plants 4u Ltd. (Registered number: 08416428)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Growing Plants 4u Ltd. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of garden products 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 the dispatch of the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over term of the lease
Plant and machinery etc - 25% on cost and Straight line over 5 years

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

The stock value has increased significantly over the year as a result of the acquisition of the new garden centre in Feltham.

Growing Plants 4u Ltd. (Registered number: 08416428)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the impairment loss is recognised in the income statement.

Financial assets are derecognised when:
- the contractual right to cash flows from the asset are settled or expire,
- substantially all the risk and rewards of the ownership of the asset are transferred to another party or
- despite retaining some significant risks and rewards, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset without additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the liability is discharged, cancelled or expires.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 34 ) .

Growing Plants 4u Ltd. (Registered number: 08416428)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 8,000
AMORTISATION
At 1 March 2023 4,000
Charge for year 4,000
At 29 February 2024 8,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 4,000

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 211,883 626,014 837,897
Additions 317,147 396,477 713,624
Disposals - (11,441 ) (11,441 )
At 29 February 2024 529,030 1,011,050 1,540,080
DEPRECIATION
At 1 March 2023 2,979 244,188 247,167
Charge for year 31,551 185,322 216,873
Eliminated on disposal - (8,983 ) (8,983 )
At 29 February 2024 34,530 420,527 455,057
NET BOOK VALUE
At 29 February 2024 494,500 590,523 1,085,023
At 28 February 2023 208,904 381,826 590,730

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 189,818 175,613
Amounts owed by related parties 224,305 188,822
Other debtors 378,142 291,563
792,265 655,998

Growing Plants 4u Ltd. (Registered number: 08416428)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 399,165 37,337
Trade creditors 2,696,843 1,762,630
Amounts owed to related parties 726,787 181,200
Taxation and social security 29,689 23,062
Other creditors 353,465 541,632
4,205,949 2,545,861

9. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Bank overdrafts 399,165 37,337

A fixed and floating charge over all assets was created on 14/02/2023 and held by HSBC UK Bank Plc.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 Ordinary shares £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 March 2023 872,642
Profit for the year 81,750
At 29 February 2024 954,392

Growing Plants 4u Ltd. (Registered number: 08416428)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. RELATED PARTY DISCLOSURES


As at the balance sheet date the company was owed the following balances from companies with a common shareholders / director:
2024 (£ ) 2023 (£ )
St Johns Nursery (Clacton) Ltd 34,500 -
Garden Products Limited 155,567 147,742
West Country Trees Ltd - 1,719
Philip Harkness Limited - -
Plant Pro Ltd 1,722 -
Hargreaves Plants Limited 472 472
Nursery Garden Group Ltd 10,542 26,265
Gardening Club BV 21,502 12,624

As at the balance sheet date the company owed the following balances to companies with a common shareholder / director:

2024 (£ ) 2023 (£ )
Plant Pro Ltd - 127,969
Moondrop Limited 628,244 5,000
The Gardening Club Ltd 5,650 5,650
Suffolk Plants Limited 59,153 37,774
St John's Nursery Clacton Ltd - 67
Flower Garden Group 3,740 4,740



13. ULTIMATE CONTROLLING PARTY

The company is controlled by C A Roberts by virtue of his shareholding in the company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Growing Plants 4u Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Growing Plants 4u Ltd. for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Growing Plants 4u Ltd. in accordance with the terms of our engagement letter dated 29 February 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Growing Plants 4u Ltd. and state those matters that we have agreed to state to the director of Growing Plants 4u Ltd. in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Growing Plants 4u Ltd. and its director for our work or for this report.

It is your duty to ensure that Growing Plants 4u Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Growing Plants 4u Ltd.. You consider that Growing Plants 4u Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Growing Plants 4u Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


3 August 2024