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REGISTERED NUMBER: 04392463 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Rosedene Nurseries Limited

Rosedene Nurseries Limited (Registered number: 04392463)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rosedene Nurseries Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J M McCullagh
C A McCullagh
A S McCullagh
S A McCullagh
T O McCullagh
J Graham





REGISTERED OFFICE: 3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX





REGISTERED NUMBER: 04392463 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Rosedene Nurseries Limited (Registered number: 04392463)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 94,067 105,825
Tangible assets 5 660,940 637,351
Investments 6 550,000 550,000
1,305,007 1,293,176

CURRENT ASSETS
Debtors 7 467,014 482,105
Cash at bank and in hand 239,819 76,021
706,833 558,126
CREDITORS
Amounts falling due within one year 8 872,202 807,692
NET CURRENT LIABILITIES (165,369 ) (249,566 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,139,638

1,043,610

CREDITORS
Amounts falling due after more than one
year

9

(47,827

)

-

PROVISIONS FOR LIABILITIES 11 (119,708 ) (97,000 )

ACCRUALS AND DEFERRED INCOME 12 (12,427 ) (17,627 )
NET ASSETS 959,676 928,983

CAPITAL AND RESERVES
Called up share capital 13 2 2
Retained earnings 959,674 928,981
SHAREHOLDERS' FUNDS 959,676 928,983

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.

Rosedene Nurseries Limited (Registered number: 04392463)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





J M McCullagh - Director


Rosedene Nurseries Limited (Registered number: 04392463)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Rosedene Nurseries 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

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 represents VAT exempt fees receivable for the provision of nursery services in the period.

Goodwill
Goodwill can be split into two separate amounts as follows:

Goodwill of £150,000 being the amount paid in connection with the acquisition of a business in 2002, which was amortised evenly over its estimated useful economic life of 10 years. The amount capitalised was fully amortised by 2019, and;

Goodwill of £117,583, being the amount paid in connection with the acquisition of a business in 2022, which is being amortised evenly over its estimated useful life of 10 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 4% on cost and over the period of the lease
Fixtures, fittings and equipment - 15% on cost and 10% on cost
Motor vehicles - 25% on reducing balance and 20% on reducing balance
Computer equipment - 33% on cost

Freehold land is not depreciated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Rosedene Nurseries Limited (Registered number: 04392463)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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 the profit and loss account in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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 146 (2022 - 150 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 267,583
AMORTISATION
At 1 January 2023 161,758
Charge for year 11,758
At 31 December 2023 173,516
NET BOOK VALUE
At 31 December 2023 94,067
At 31 December 2022 105,825

Rosedene Nurseries Limited (Registered number: 04392463)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
Freehold to and
property property equipment
£    £    £   
COST
At 1 January 2023 347,448 276,976 167,741
Additions - - 18,397
Disposals - - -
At 31 December 2023 347,448 276,976 186,138
DEPRECIATION
At 1 January 2023 8,908 120,821 124,052
Charge for year 8,908 13,137 9,286
Eliminated on disposal - - -
At 31 December 2023 17,816 133,958 133,338
NET BOOK VALUE
At 31 December 2023 329,632 143,018 52,800
At 31 December 2022 338,540 156,155 43,689

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 114,895 58,059 965,119
Additions 60,200 12,359 90,956
Disposals (5,420 ) - (5,420 )
At 31 December 2023 169,675 70,418 1,050,655
DEPRECIATION
At 1 January 2023 34,986 39,001 327,768
Charge for year 23,512 11,522 66,365
Eliminated on disposal (4,418 ) - (4,418 )
At 31 December 2023 54,080 50,523 389,715
NET BOOK VALUE
At 31 December 2023 115,595 19,895 660,940
At 31 December 2022 79,909 19,058 637,351

Rosedene Nurseries Limited (Registered number: 04392463)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS



Shares in
group
undertakings
£
COST
At 1 January 2023
and 31 December 2023 550,000

NET BOOK VALUE
At 31 December 2023 550,000
At 31 December 2022 550,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,231 26,913
Amounts owed by associated companies 372,959 389,397
Other debtors 6,267 12,884
Prepayments and accrued income 57,557 52,911
467,014 482,105

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 33,085 -
Trade creditors 9,422 28,605
Amounts owed to group undertakings 550,000 550,000
Amounts owed to associated companies 1,296 1,296
Taxation 24,249 58,350
Social security and other taxes 27,855 18,927
Other creditors 37,819 36,275
Directors' current accounts 18,217 57,121
Accruals and deferred income 170,259 57,118
872,202 807,692

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 47,827 -

Rosedene Nurseries Limited (Registered number: 04392463)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 80,912 -

Hire purchase liabilities are secured against the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred taxation 45,000 37,000

Other provisions
Provision for dilapidations 55,000 60,000
Closure provision 19,708 -
74,708 60,000

Aggregate amounts 119,708 97,000

Deferred Other
tax provisions
£    £   
Balance at 1 January 2023 37,000 60,000
Provided during year 8,000 19,708
Credit to Income Statement during year - (5,000 )
Balance at 31 December 2023 45,000 74,708

12. ACCRUALS AND DEFERRED INCOME

Deferred Government Grants

The amount of deferred capital grants released to the Profit and Loss Account in the year was £5,200 (2022 - £5,214). The amount of deferred capital grant remaining to be released as at 31 December 2023 was £12,427 (2022 - £17,627).

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

14. OTHER FINANCIAL COMMITMENTS

The total amount of financial obligations due under non-cancellable lease agreements not included within Balance Sheet liabilities at 31 December 2023 amounted to £259,193 (2022 - £326,216).