IRIS Accounts Production v24.1.4.33 05755895 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057558952022-12-31057558952023-12-31057558952023-01-012023-12-31057558952021-12-31057558952022-01-012022-12-31057558952022-12-3105755895ns15:EnglandWales2023-01-012023-12-3105755895ns14:PoundSterling2023-01-012023-12-3105755895ns10:Director12023-01-012023-12-3105755895ns10:Director22023-01-012023-12-3105755895ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105755895ns10:SmallEntities2023-01-012023-12-3105755895ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105755895ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105755895ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105755895ns10:FullAccounts2023-01-012023-12-310575589512023-01-012023-12-3105755895ns10:OrdinaryShareClass12023-01-012023-12-3105755895ns10:Director32023-01-012023-12-3105755895ns10:Director42023-01-012023-12-3105755895ns10:Director52023-01-012023-12-3105755895ns10:RegisteredOffice2023-01-012023-12-3105755895ns5:CurrentFinancialInstruments2023-12-3105755895ns5:CurrentFinancialInstruments2022-12-3105755895ns5:Non-currentFinancialInstruments2023-12-3105755895ns5:Non-currentFinancialInstruments2022-12-3105755895ns5:ShareCapital2023-12-3105755895ns5:ShareCapital2022-12-3105755895ns5:RetainedEarningsAccumulatedLosses2023-12-3105755895ns5:RetainedEarningsAccumulatedLosses2022-12-3105755895ns5:NetGoodwill2023-01-012023-12-3105755895ns5:LandBuildings2023-01-012023-12-3105755895ns5:PlantMachinery2023-01-012023-12-3105755895ns5:NetGoodwill2022-12-3105755895ns5:NetGoodwill2023-12-3105755895ns5:NetGoodwill2022-12-3105755895ns5:LandBuildings2022-12-3105755895ns5:PlantMachinery2022-12-3105755895ns5:LandBuildings2023-12-3105755895ns5:PlantMachinery2023-12-3105755895ns5:LandBuildings2022-12-3105755895ns5:PlantMachinery2022-12-3105755895ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105755895ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105755895ns5:Secured2023-12-3105755895ns5:Secured2022-12-3105755895ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 05755895 (England and Wales)















SKEGNESS NATURELAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


SKEGNESS NATURELAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R J Yeadon
Mrs N J Yeadon
Mrs C D Yeadon
Miss D Yeadon
Mr M J Yeadon



REGISTERED OFFICE: North Parade
Skegness
Lincolnshire
PE25 1DB



REGISTERED NUMBER: 05755895 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Barclays Bank PLC
65 Lumley Road
Skegness
Lincolnshire
PE25 3LU

SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,000 130,000
Tangible assets 5 581,347 460,913
671,347 590,913

CURRENT ASSETS
Stocks 38,109 95,081
Debtors 6 1,164,324 1,322,782
Cash at bank and in hand 297,496 630,339
1,499,929 2,048,202
CREDITORS
Amounts falling due within one year 7 98,157 170,673
NET CURRENT ASSETS 1,401,772 1,877,529
TOTAL ASSETS LESS CURRENT LIABILITIES 2,073,119 2,468,442

CREDITORS
Amounts falling due after more than one year 8 (94,149 ) (144,914 )

PROVISIONS FOR LIABILITIES (21,447 ) (10,229 )
NET ASSETS 1,957,523 2,313,299

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,957,423 2,313,199
SHAREHOLDERS' FUNDS 1,957,523 2,313,299

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

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

The directors acknowledge their 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.

SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 and authorised for issue by the Board of Directors and authorised for issue on 3 June 2024 and were signed on its behalf by:




Miss D Yeadon - Director



Mr M J Yeadon - Director


SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)

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

1. STATUTORY INFORMATION

Skegness Natureland Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty 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 - 15% on reducing balance and 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are held at cost, less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

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.


SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)

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

2. ACCOUNTING POLICIES - continued
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.

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 26 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 800,000
AMORTISATION
At 1 January 2023 670,000
Charge for year 40,000
At 31 December 2023 710,000
NET BOOK VALUE
At 31 December 2023 90,000
At 31 December 2022 130,000

SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 435,404 153,495 588,899
Additions 64,173 80,155 144,328
Disposals - (1,565 ) (1,565 )
At 31 December 2023 499,577 232,085 731,662
DEPRECIATION
At 1 January 2023 28,757 99,229 127,986
Charge for year 7,555 15,820 23,375
Eliminated on disposal - (1,046 ) (1,046 )
At 31 December 2023 36,312 114,003 150,315
NET BOOK VALUE
At 31 December 2023 463,265 118,082 581,347
At 31 December 2022 406,647 54,266 460,913

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 969,748 987,519
Other debtors 194,576 335,263
1,164,324 1,322,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 47,615 48,123
Trade creditors 8,150 26,239
Taxation and social security 28,721 90,383
Other creditors 13,671 5,928
98,157 170,673

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 94,149 144,914

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 141,764 193,037

The loan is secured by the UK Government.

SKEGNESS NATURELAND LIMITED (REGISTERED NUMBER: 05755895)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the 31 December 2022 year end a director of the company was provided with a loan of £165,000 at an interest rate of 3.2%. The balance outstanding at the year end was £174,591. (2022 £169,311)

12. ULTIMATE CONTROLLING PARTY

The controlling party is Skegness Natureland Holdings Ltd.