REGISTERED NUMBER: |
Berrygate Hill Nurseries Limited |
Financial Statements for the Year Ended 30th November 2023 |
REGISTERED NUMBER: |
Berrygate Hill Nurseries Limited |
Financial Statements for the Year Ended 30th November 2023 |
Berrygate Hill Nurseries Limited (Registered number: 00465053) |
Contents of the Financial Statements |
for the year ended 30th November 2023 |
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 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Berrygate Hill Nurseries Limited (Registered number: 00465053) |
Notes to the Financial Statements |
for the year ended 30th November 2023 |
1. | STATUTORY INFORMATION |
Berrygate Hill Nurseries Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
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:- |
Buildings | 2% |
Glasshouses | 5% |
Plant andequipment | 20% |
Motor Vehicles | 20% |
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. |
Berrygate Hill Nurseries Limited (Registered number: 00465053) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2023 |
2. | ACCOUNTING POLICIES - continued |
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 |
Berrygate Hill Nurseries Limited (Registered number: 00465053) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2023 |
4. | TANGIBLE FIXED ASSETS |
Glass-houses |
Freehold | Freehold | and |
property | land | Buildings |
£ | £ | £ |
COST |
At 1st December 2022 |
Additions |
Disposals |
At 30th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for year |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1st December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for year |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
The directors consider the market value of land, freehold property, glasshouses and buildings to be approximately £2,885,000 based on a professional valuation carried out in April 2024 for bank purposes. |
Berrygate Hill Nurseries Limited (Registered number: 00465053) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st December 2022 |
and 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings | 14,922 | 14,922 |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
Berrygate Hill Nurseries Limited (Registered number: 00465053) |
Notes to the Financial Statements - continued |
for the year ended 30th November 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
Bank loans |
Hire purchase contracts | 52,079 | 61,979 |
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. |
for and on behalf of |
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 2023 the potential liability of the company under the arrangement was £nil (2022 £247,350). |
At 30th November 2023 operating lease commitments total £105,185 (2022 £80,417) of which £65,382 (2022 £78,491) are due within one year. |