Company registration number 03323340 (England and Wales)
LANDSCAPEPLUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LANDSCAPEPLUS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
LANDSCAPEPLUS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,888
12,652
Current assets
Stocks
815,201
574,484
Debtors
4
1,753,126
1,695,152
Cash at bank and in hand
224,167
336,400
2,792,494
2,606,036
Creditors: amounts falling due within one year
5
(857,556)
(776,818)
Net current assets
1,934,938
1,829,218
Total assets less current liabilities
1,962,826
1,841,870
Provisions for liabilities
6
(6,972)
(2,973)
Net assets
1,955,854
1,838,897
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
1,954,854
1,837,897
Total equity
1,955,854
1,838,897

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
R Sales
Director
Company registration number 03323340 (England and Wales)
LANDSCAPEPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Landscapeplus Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Kemble Business Park, Crudwell, Near Malmesbury, Wiltshire, SN16 9SH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
33% Straight Line
Plant and equipment
15% Straight Line
Fixtures and fittings
33% Straight Line
Motor vehicles
25% Straight Line

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

LANDSCAPEPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LANDSCAPEPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
20
17
LANDSCAPEPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
13,336
330,829
344,165
Additions
-
0
23,870
23,870
At 31 December 2023
13,336
354,699
368,035
Depreciation and impairment
At 1 January 2023
13,336
318,177
331,513
Depreciation charged in the year
-
0
8,634
8,634
At 31 December 2023
13,336
326,811
340,147
Carrying amount
At 31 December 2023
-
0
27,888
27,888
At 31 December 2022
-
0
12,652
12,652

The net carrying value of tangible fixed assets includes £3,902 (2022: £5,321) in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £1,419 (2022: £50,419) for the year.

 

Net obligations under finance leases and hire purchase contracts are secured on the assets acquired.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
225,681
206,985
Amounts owed by group undertakings
1,297,790
1,247,790
Other debtors
229,655
240,377
1,753,126
1,695,152
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
420,162
472,737
Corporation tax
200,369
148,517
Other taxation and social security
68,374
28,774
Other creditors
168,651
126,790
857,556
776,818
LANDSCAPEPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
6,972
2,973
2023
Movements in the year:
£
Liability at 1 January 2023
2,973
Charge to profit or loss
3,999
Liability at 31 December 2023
6,972
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
200
200
200
200
B Ordinary shares of £1 each
200
200
200
200
C Ordinary shares of £1 each
200
200
200
200
D Ordinary shares of £1 each
200
200
200
200
E Ordinary shares of £1 each
100
100
100
100
F Ordinary shares of £1 each
100
100
100
100
1,000
1,000
1,000
1,000

Full details of the rights attached to each class of shares including the right to income and distributions and the rights in respect to a return of capital on liquidation, winding up or otherwise is shown in the company's statutory records and in particular its statement of capital, all classes of shares are ranked Pari Passu.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
162,000
216,000
LANDSCAPEPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
9
Related party transactions

Included in other debtors is an amount of £200,000 (2022: £200,000) owed by Mardy Cow Limited, a company controlled by the directors.

 

Included within other creditors is an amount of £13,418 (2022: £57,191) owed to the directors as at the balance sheet date.

 

During the year the company paid dividends to its parent company totaling £541,000 (2022: £407,000),

10
Parent company

The company's parent company is Nutt Holding Co Limited and its registered office is Unit 1 Kemble Business Park, Crudwell, Malmesbury, Wiltshire, United Kingdom, SN16 9SH.

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