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REGISTERED NUMBER: 01957538 (England and Wales)












PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr G Owen
Dr R Earl



REGISTERED OFFICE: Wigan Road
Leyland
Lancashire
PR25 5XW



REGISTERED NUMBER: 01957538 (England and Wales)



AUDITORS: Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB



BANKERS: National Westminster Bank Plc
292 Garstang Road
Fulwood
Preston
Lancashire
PR2 9RQ

PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,045 70,215
Tangible assets 5 83,144 97,529
Investments 6 300,215 215
413,404 167,959

CURRENT ASSETS
Stocks 35,843 -
Debtors 587,082 857,691
Cash at bank and in hand 323,346 342,764
946,271 1,200,455
CREDITORS
Amounts falling due within one year 293,907 288,962
NET CURRENT ASSETS 652,364 911,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,065,768

1,079,452

CREDITORS
Amounts falling due after more than one
year

-

(10,315

)

PROVISIONS FOR LIABILITIES (17,631 ) (13,543 )
NET ASSETS 1,048,137 1,055,594

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,048,037 1,055,494
SHAREHOLDERS' FUNDS 1,048,137 1,055,594

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:





Dr R Earl - Director


PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)

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

1. STATUTORY INFORMATION

Professional Sportsturf Design (North West) 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.

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 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 £.

Turnover
Turnover represents net invoiced value of services supplied, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of 5 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Office equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts
When the outcome of a contract can be assessed with reasonable certainty an appropriate proportion of total contract value is included in turnover. The costs incurred in reaching that stage of completion are matched with this turnover. Hence the profit recognised in the accounts is the profit on the proportion of the contract completed by the balance sheet date. Where the directors expect an overall loss on a contract this is recognised as soon as it is foreseen.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 200,851
AMORTISATION
At 1 January 2023 130,636
Amortisation for year 40,170
At 31 December 2023 170,806
NET BOOK VALUE

At 31 December 2023 30,045
At 31 December 2022 70,215

PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 192,073
Additions 10,317
Disposals (14,616 )
At 31 December 2023 187,774
DEPRECIATION
At 1 January 2023 94,544
Charge for year 13,697
Eliminated on disposal (3,611 )
At 31 December 2023 104,630
NET BOOK VALUE
At 31 December 2023 83,144
At 31 December 2022 97,529

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023
and 31 December 2023 27,350
DEPRECIATION
At 1 January 2023 2,735
Charge for year 2,462
At 31 December 2023 5,197
NET BOOK VALUE
At 31 December 2023 22,153
At 31 December 2022 24,615

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023 7,715
Additions 300,000
At 31 December 2023 307,715
PROVISIONS
At 1 January 2023
and 31 December 2023 7,500
NET BOOK VALUE
At 31 December 2023 300,215
At 31 December 2022 215

PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)

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

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

PSD Agronomy Limited
Registered office: Shorrock House, 1 Faraday Court, Fulwood, Preston, Lancashire PR2 9NB
Nature of business: Dormant company
%
Class of shares: holding
Ordinary shares 100.00

TGMS Limited
Registered office: 4 Doolittle Mill, Froghall Road, Ampthill, Bedford, Bedfordshire MK45 2ND
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

European Turfgrass Laboratories (Holdings) Limited
Registered office: Shorrock House, 1 Faraday Court, Fulwood, Preston, Lancashire PR2 9NB
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 11,052 10,932
Between one and five years - 11,052
11,052 21,984

Finance charges repayable:
Within one year 737 1,916
Between one and five years - 737
737 2,653

Net obligations repayable:
Within one year 10,315 9,016
Between one and five years - 10,315
10,315 19,331

Non-cancellable operating leases
2023 2022
£    £   
Within one year 59,561 47,855
Between one and five years 81,345 71,329
140,906 119,184

PROFESSIONAL SPORTSTURF DESIGN
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons

9. RELATED PARTY DISCLOSURES

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.

The company had the following related party transactions with non-wholly owned group companies:

2023 2022
£ £
Dividends paid - 150,000
Management charges paid 112,334 109,185
Sales 27,857 26,190
Debtors 144,979 138,841
Purchases 317,542 404,757
Creditors 27,913 28,877

10. ULTIMATE CONTROLLING PARTY

The company was, at the end of the year, a wholly owned subsidiary of another company, incorporated in France. This parent company, SAS Labonext is a wholly owned subsidiary in its own right. The ultimate parent company prepares consolidated financial statements. In accordance with Section 401 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated financial statements. As a result, these financial statements present information about it as an individual, not its group.

The directors consider the ultimate controlling party to be Greenpeak Fund II GmbH & Co. KG, a company incorporated in Germany. The correspondence address for Greenpeak Fund II GmbH & Co. KG is: Theatinerstraße 14, D – 80333 München, Germany.

The financial statements for Greenpeak Fund II GmbH & Co. KG are publicly available from the following web address: https://www.unternehmensregister.de/ureg/index.html;jsessionid=027654FF4C22CFAC6B814A72D076A536.we b01-1.