Silverfin false false 31/12/2023 01/01/2023 31/12/2023 C Burton 01/09/2011 D Chilvers 22/03/2023 R J Colbourne 22/06/2004 A G Marskell 29/09/2023 25/06/2003 K W O'Neill 22/03/2023 W T J Tooby E A B Webb 01/08/2005 22 August 2024 The principal activity of the Company during the financial year was that of plant propagation and the wholesale of plants. 00686208 2023-12-31 00686208 bus:Director1 2023-12-31 00686208 bus:Director2 2023-12-31 00686208 bus:Director3 2023-12-31 00686208 bus:Director4 2023-12-31 00686208 bus:Director5 2023-12-31 00686208 bus:Director7 2023-12-31 00686208 2022-12-31 00686208 core:CurrentFinancialInstruments 2023-12-31 00686208 core:CurrentFinancialInstruments 2022-12-31 00686208 core:Non-currentFinancialInstruments 2023-12-31 00686208 core:Non-currentFinancialInstruments 2022-12-31 00686208 core:ShareCapital 2023-12-31 00686208 core:ShareCapital 2022-12-31 00686208 core:SharePremium 2023-12-31 00686208 core:SharePremium 2022-12-31 00686208 core:RetainedEarningsAccumulatedLosses 2023-12-31 00686208 core:RetainedEarningsAccumulatedLosses 2022-12-31 00686208 core:LandBuildings 2022-12-31 00686208 core:PlantMachinery 2022-12-31 00686208 core:Vehicles 2022-12-31 00686208 core:LandBuildings 2023-12-31 00686208 core:PlantMachinery 2023-12-31 00686208 core:Vehicles 2023-12-31 00686208 core:CostValuation 2022-12-31 00686208 core:CostValuation 2023-12-31 00686208 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 00686208 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 00686208 bus:OrdinaryShareClass1 2023-12-31 00686208 2023-01-01 2023-12-31 00686208 bus:FilletedAccounts 2023-01-01 2023-12-31 00686208 bus:SmallEntities 2023-01-01 2023-12-31 00686208 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00686208 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00686208 bus:Director1 2023-01-01 2023-12-31 00686208 bus:Director2 2023-01-01 2023-12-31 00686208 bus:Director3 2023-01-01 2023-12-31 00686208 bus:Director4 2023-01-01 2023-12-31 00686208 bus:Director5 2023-01-01 2023-12-31 00686208 bus:Director6 2023-01-01 2023-12-31 00686208 bus:Director7 2023-01-01 2023-12-31 00686208 core:LandBuildings core:BottomRangeValue 2023-01-01 2023-12-31 00686208 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 00686208 core:PlantMachinery core:BottomRangeValue 2023-01-01 2023-12-31 00686208 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 00686208 core:Vehicles 2023-01-01 2023-12-31 00686208 2022-01-01 2022-12-31 00686208 core:LandBuildings 2023-01-01 2023-12-31 00686208 core:PlantMachinery 2023-01-01 2023-12-31 00686208 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 00686208 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 00686208 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00686208 (England and Wales)

BRANSFORD GARDEN PLANTS LIMITED

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

BRANSFORD GARDEN PLANTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BRANSFORD GARDEN PLANTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
BRANSFORD GARDEN PLANTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,718,321 1,793,825
Investments 4 513 513
1,718,834 1,794,338
Current assets
Stocks 859,765 850,008
Debtors 5 2,602,228 2,506,913
Cash at bank and in hand 2,079,348 1,968,191
5,541,341 5,325,112
Creditors: amounts falling due within one year 6 ( 1,207,699) ( 1,135,658)
Net current assets 4,333,642 4,189,454
Total assets less current liabilities 6,052,476 5,983,792
Creditors: amounts falling due after more than one year 7 ( 425,000) ( 725,000)
Provision for liabilities ( 288,699) ( 287,558)
Net assets 5,338,777 4,971,234
Capital and reserves
Called-up share capital 8 36,585 36,585
Share premium account 326,354 326,354
Profit and loss account 4,975,838 4,608,295
Total shareholder's funds 5,338,777 4,971,234

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 Bransford Garden Plants Limited (registered number: 00686208) were approved and authorised for issue by the Board of Directors on 22 August 2024. They were signed on its behalf by:

R J Colbourne
Director
BRANSFORD GARDEN PLANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BRANSFORD GARDEN PLANTS 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

Bransford Garden Plants 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 The Bransford Webbs Plant Company, Bransford, Worcester, WR6 5JN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 Statement of Financial Position 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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

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. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 10 - 25 years straight line
Plant and machinery 3 - 20 years straight line
Vehicles 25 % 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.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 99 96

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 January 2023 1,067,691 2,472,804 189,040 3,729,535
Additions 7,237 159,816 23,200 190,253
Disposals 0 ( 7,156) 0 ( 7,156)
At 31 December 2023 1,074,928 2,625,464 212,240 3,912,632
Accumulated depreciation
At 01 January 2023 442,743 1,400,903 92,064 1,935,710
Charge for the financial year 55,765 182,557 27,435 265,757
Disposals 0 ( 7,156) 0 ( 7,156)
At 31 December 2023 498,508 1,576,304 119,499 2,194,311
Net book value
At 31 December 2023 576,420 1,049,160 92,741 1,718,321
At 31 December 2022 624,948 1,071,901 96,976 1,793,825

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 513 513
At 31 December 2023 513 513
Carrying value at 31 December 2023 513 513
Carrying value at 31 December 2022 513 513

5. Debtors

2023 2022
£ £
Trade debtors 90,315 82,118
Amounts owed by Parent undertakings 2,456,308 2,373,654
Prepayments 31,561 21,641
VAT recoverable 20,919 26,923
Other debtors 3,125 2,577
2,602,228 2,506,913

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 216,230 218,299
Other loans 300,000 300,000
Accruals 451,857 411,962
Taxation and social security 209,573 166,935
Obligations under finance leases and hire purchase contracts 0 7,293
Other creditors 30,039 31,169
1,207,699 1,135,658

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

2023 2022
£ £
Bank loans 425,000 725,000

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

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
36,585 Ordinary shares of £ 1.00 each 36,585 36,585

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts owed by Parent company 2,456,308 2,373,654

Dividends were declared during the year totalling £150,000.