IRIS Accounts Production v24.2.0.383 04331554 Board of Directors 31.12.23 1.1.23 31.12.23 31.12.23 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. a plant nursery. true true true false true true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043315542022-12-31043315542023-12-31043315542023-01-012023-12-31043315542021-12-31043315542022-01-012022-12-31043315542022-12-3104331554ns15:EnglandWales2023-01-012023-12-3104331554ns14:PoundSterling2023-01-012023-12-3104331554ns10:Director12023-01-012023-12-3104331554ns10:Consolidated2023-12-3104331554ns10:ConsolidatedGroupCompanyAccounts2023-01-012023-12-3104331554ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104331554ns10:Consolidatedns10:MediumEntities2023-01-012023-12-3104331554ns10:Consolidatedns10:Audited2023-01-012023-12-3104331554ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3104331554ns10:Medium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3104331554ns10:Consolidated2023-01-012023-12-3104331554ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3104331554ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3104331554ns10:FullAccounts2023-01-012023-12-3104331554ns5:Subsidiary12023-01-012023-12-3104331554ns10:OrdinaryShareClass12023-01-012023-12-3104331554ns10:Director22023-01-012023-12-3104331554ns10:Director32023-01-012023-12-3104331554ns10:Director42023-01-012023-12-3104331554ns10:CompanySecretary12023-01-012023-12-3104331554ns10:RegisteredOffice2023-01-012023-12-3104331554ns10:Consolidated2022-01-012022-12-3104331554ns5:CurrentFinancialInstruments2023-12-3104331554ns5:CurrentFinancialInstruments2022-12-3104331554ns5:Non-currentFinancialInstruments2023-12-3104331554ns5:Non-currentFinancialInstruments2022-12-3104331554ns5:ShareCapital2023-12-3104331554ns5:ShareCapital2022-12-3104331554ns5:RetainedEarningsAccumulatedLosses2023-12-3104331554ns5:RetainedEarningsAccumulatedLosses2022-12-3104331554ns5:ShareCapital2021-12-3104331554ns5:RetainedEarningsAccumulatedLosses2021-12-3104331554ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3104331554ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3104331554ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-01-012023-12-3104331554ns5:PlantMachinery2023-01-012023-12-3104331554ns5:FurnitureFittings2023-01-012023-12-3104331554ns5:MotorVehicles2023-01-012023-12-3104331554ns5:LandBuildings2022-12-3104331554ns5:PlantMachinery2022-12-3104331554ns5:FurnitureFittings2022-12-3104331554ns5:LandBuildings2023-01-012023-12-3104331554ns5:LandBuildings2023-12-3104331554ns5:PlantMachinery2023-12-3104331554ns5:FurnitureFittings2023-12-3104331554ns5:LandBuildings2022-12-3104331554ns5:PlantMachinery2022-12-3104331554ns5:FurnitureFittings2022-12-3104331554ns5:MotorVehicles2022-12-3104331554ns5:ComputerEquipment2022-12-3104331554ns5:ComputerEquipment2023-01-012023-12-3104331554ns5:MotorVehicles2023-12-3104331554ns5:ComputerEquipment2023-12-3104331554ns5:MotorVehicles2022-12-3104331554ns5:ComputerEquipment2022-12-3104331554ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3104331554ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3104331554ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3104331554ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3104331554ns5:CostValuation2022-12-3104331554ns5:UnlistedNon-exchangeTradedns5:CostValuation2022-12-3104331554ns5:UnlistedNon-exchangeTraded2023-12-3104331554ns5:UnlistedNon-exchangeTraded2022-12-31043315541ns5:Subsidiary12023-01-012023-12-3104331554ns5:Subsidiary12023-12-3104331554ns5:Subsidiary12022-12-3104331554ns5:Subsidiary12022-01-012022-12-3104331554ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3104331554ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3104331554ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2022-12-3104331554ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-12-3104331554ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3104331554ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3104331554ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-12-3104331554ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2022-12-3104331554ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3104331554ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3104331554ns5:HirePurchaseContracts2023-12-3104331554ns5:HirePurchaseContracts2022-12-3104331554ns5:WithinOneYear2023-12-3104331554ns5:WithinOneYear2022-12-3104331554ns5:BetweenOneFiveYears2023-12-3104331554ns5:BetweenOneFiveYears2022-12-3104331554ns5:AllPeriods2023-12-3104331554ns5:AllPeriods2022-12-3104331554ns5:Secured2023-12-3104331554ns5:Secured2022-12-3104331554ns5:DeferredTaxation2023-01-012023-12-3104331554ns5:DeferredTaxation2023-12-3104331554ns10:OrdinaryShareClass12023-12-3104331554ns5:RetainedEarningsAccumulatedLosses2022-12-31
REGISTERED NUMBER: 04331554 (England and Wales)












BELL BROTHERS NURSERIES LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


BELL BROTHERS NURSERIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B D Bell
Mrs M A Bell
R A Bell
Mr J D Bell





SECRETARY: Mrs M A Bell





REGISTERED OFFICE: The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA





REGISTERED NUMBER: 04331554 (England and Wales)





AUDITORS: Dexter & Sharpe
Chartered Certified Accountants
& Registered Auditors
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report of the company and the group for the year ended 31 December 2023.

The principal activity of the group in the year under review was that of nursery men and farming.

REVIEW OF BUSINESS
Turnover decreased by 4.5% compared with the prior year reflecting the directors decision to concentrate on the higher margin products.

The business environment remains highly competitive with pressure on selling prices influencing the margin achieved.

The company will continue to concentrate on the higher margin products and continue its efficiency plans.

PRINCIPAL RISKS AND UNCERTAINTIES
The Group operates in a challenging economic climate. As such management of the group's business and the execution of the group's strategies are subject to a number of risks:

- Impact of weather on production and supply costs and on customer demand;
- The strength local, national and international competition;
- The risks associated with needing to hold a wide range of stock lines to satisfy customer requirements.


The controllable risks are being addressed by continued focus on stock management processes and production efficiencies.

The group uses various financial instruments including cash, overdraft facilities, loans, HP finance and such items such as trade creditors that arise directly from its operations, the main purpose of which is to ensure liquidity of the group's activities.

The main risks arising from the Group's financial instruments and the management of these risks are summarised below:

- Credit risk. Credit checks and credit limits and follow up of overdue debts;

- Liquidity risks. The group manages its financial risks by ensuring that there is enough liquidity to meet its short and long term requirements, principally through bank loans and overdraft facilities:

- Interest rate risk. The company is exposed to a rise in interest rates. However, management anticipate that its operating result would cover any likely interest increase;

- Currency risks. The company is exposed to the Euro and US $. Forward contracts are taken out from time to time to manage these risks.


BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

KEY PERFORMANCE INDICATORS
We consider the key performance indicators to be measured by turnover, operating profit as a percentage of turnover and operating cash inflow.

ON BEHALF OF THE BOARD:




R A Bell - Director


26 September 2024

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

B D Bell
Mrs M A Bell
R A Bell
Mr J D Bell

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
The auditors, Dexter & Sharpe, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



R A Bell - Director


26 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BELL BROTHERS NURSERIES LIMITED


Opinion
We have audited the financial statements of Bell Brothers Nurseries Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BELL BROTHERS NURSERIES LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have enquired of those charged with governance around actual and potential litigation and claims.

We have reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Enquired of staff engaged in the completion of VAT, tax and compliance work to identify any instances of non compliance with laws and regulations.

Audited the risk of management override of controls including review of journal entries and large or unusual transaction, evaluating the business rationale of any significant transactions outside the course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BELL BROTHERS NURSERIES LIMITED





Mrs Nicola Michelle Lenton FCCA (Senior Statutory Auditor)
for and on behalf of Dexter & Sharpe
Chartered Certified Accountants
& Registered Auditors
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

26 September 2024

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

TURNOVER 9,603,737 10,066,234

Cost of sales (6,714,699 ) (6,421,975 )
GROSS PROFIT 2,889,038 3,644,259

Distribution costs (613,789 ) (581,175 )
Administrative expenses (2,996,224 ) (3,137,019 )
(720,975 ) (73,935 )

Other operating income 1,164,154 413,589
OPERATING PROFIT 3 443,179 339,654

Interest receivable and similar income 2,699 877
445,878 340,531

Interest payable and similar expenses 4 (249,396 ) (122,410 )
PROFIT BEFORE TAXATION 196,482 218,121

Tax on profit 5 (105,503 ) 161,295
PROFIT FOR THE FINANCIAL YEAR 90,979 379,416
Profit attributable to:
Owners of the parent 95,713 379,160
Non-controlling interests (4,734 ) 256
90,979 379,416

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 90,979 379,416


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

90,979

379,416

Total comprehensive income attributable to:
Owners of the parent 95,712 379,160
Non-controlling interests (4,733 ) 256
90,979 379,416

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 2,365,833 2,174,195
Investments 8 3,001 3,001
2,368,834 2,177,196

CURRENT ASSETS
Stocks 9 2,505,528 3,091,453
Debtors: amounts falling due within one year 10 2,704,953 1,642,215
Cash at bank and in hand 35,809 21,741
5,246,290 4,755,409
CREDITORS
Amounts falling due within one year 11 2,633,461 2,312,670
NET CURRENT ASSETS 2,612,829 2,442,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,981,663

4,619,935

CREDITORS
Amounts falling due after more than one year 12 (2,365,057 ) (2,199,812 )

PROVISIONS FOR LIABILITIES 16 (105,503 ) -
NET ASSETS 2,511,103 2,420,123

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Retained earnings 18 2,510,084 2,414,371
SHAREHOLDERS' FUNDS 2,511,084 2,415,371

NON-CONTROLLING INTERESTS 19 19 4,752
TOTAL EQUITY 2,511,103 2,420,123

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





R A Bell - Director


BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

COMPANY BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 1,819,832 1,625,351
Investments 8 3,901 3,901
1,823,733 1,629,252

CURRENT ASSETS
Stocks 9 2,498,684 3,088,132
Debtors: amounts falling due within one year 10 3,239,715 2,089,024
Cash at bank and in hand 30,842 21,741
5,769,241 5,198,897
CREDITORS
Amounts falling due within one year 11 2,611,062 2,255,300
NET CURRENT ASSETS 3,158,179 2,943,597
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,981,912

4,572,849

CREDITORS
Amounts falling due after more than one year 12 (2,365,057 ) (2,199,812 )

PROVISIONS FOR LIABILITIES 16 (105,503 ) -
NET ASSETS 2,511,352 2,373,037

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Retained earnings 18 2,510,352 2,372,037
SHAREHOLDERS' FUNDS 2,511,352 2,373,037

Company's profit for the financial year 138,315 376,857

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





R A Bell - Director


BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 January 2022 1,000 2,035,211 2,036,211 4,496 2,040,707

Changes in equity
Total comprehensive income - 379,160 379,160 256 379,416
Balance at 31 December 2022 1,000 2,414,371 2,415,371 4,752 2,420,123

Changes in equity
Total comprehensive income - 95,713 95,713 (4,733 ) 90,980
Balance at 31 December 2023 1,000 2,510,084 2,511,084 19 2,511,103

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 1,000 1,995,180 1,996,180

Changes in equity
Total comprehensive income - 376,857 376,857
Balance at 31 December 2022 1,000 2,372,037 2,373,037

Changes in equity
Total comprehensive income - 138,315 138,315
Balance at 31 December 2023 1,000 2,510,352 2,511,352

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 219,566 628,136
Interest paid (236,870 ) (110,823 )
Interest element of hire purchase payments
paid

(12,526

)

(11,587

)
Tax paid 126,689 61,607
Net cash from operating activities 96,859 567,333

Cash flows from investing activities
Purchase of tangible fixed assets (438,463 ) (428,042 )
Sale of tangible fixed assets 53,624 -
Interest received 2,699 877
Net cash from investing activities (382,140 ) (427,165 )

Cash flows from financing activities
New loans in year (220,390 ) -
Loan repayments in year 408,970 (171,183 )
Capital repayments in year 83,090 165,807
Amount introduced by directors 300,294 148,747
Amount withdrawn by directors (223,592 ) (135,422 )
Net cash from financing activities 348,372 7,949

Increase in cash and cash equivalents 63,091 148,117
Cash and cash equivalents at beginning of
year

2

(582,471

)

(730,588

)

Cash and cash equivalents at end of year 2 (519,380 ) (582,471 )

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 196,482 218,121
Depreciation charges 216,173 193,687
Profit on disposal of fixed assets (22,972 ) -
Finance costs 249,396 122,410
Finance income (2,699 ) (877 )
636,380 533,341
Decrease/(increase) in stocks 585,925 (375,808 )
(Increase)/decrease in trade and other debtors (1,214,957 ) 58,045
Increase in trade and other creditors 212,218 412,558
Cash generated from operations 219,566 628,136

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 35,809 21,741
Bank overdrafts (555,189 ) (604,212 )
(519,380 ) (582,471 )
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 21,741 70,664
Bank overdrafts (604,212 ) (801,252 )
(582,471 ) (730,588 )


BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 21,741 14,068 35,809
Bank overdrafts (604,212 ) 49,023 (555,189 )
(582,471 ) 63,091 (519,380 )
Debt
Finance leases (228,704 ) (83,090 ) (311,794 )
Debts falling due within 1 year (177,932 ) (81,004 ) (258,936 )
Debts falling due after 1 year (2,046,314 ) (107,575 ) (2,153,889 )
(2,452,950 ) (271,669 ) (2,724,619 )
Total (3,035,421 ) (208,578 ) (3,243,999 )

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


1. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The Group consolidated financial statements include the financial statements of the Company and of its subsidiary undertaking made up to 31 December 2023.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.

Stock valuation
The stock valuation is based on costing data. At the direct cost level little judgement is involved. The inclusion and apportionment of production overheads is based on reasonable criteria, but requires an element of judgement.

Useful economic lives of tangible assets
Plant and Machinery, Fixtures and Fittings, and Motor Vehicles are depreciated on a reducing balance method at rates which historically have resulted in a reasonable residual value of the assets. Farm buildings and glasshouses are individually assessed and a straight line or reducing balance method at a rate judged suitable for the particular asset applied. The useful economic lives and residual values are re-assessed annually.

Deferred taxation
Deferred taxation is calculated at the enacted tax rates when the taxation timing differences are expected to reverse. Estimates and judgements are required in making these forecasts.

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

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.
Freehold property - 5-15% reducing balance/10% straight line
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


1. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Derivatives are initially recognised at fair value on the date the derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of the derivatives are recognised in profit or loss in finance costs or income as appropriate.

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


2. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 3,593,777 3,415,467
Social security costs 171,304 161,506
Other pension costs 46,687 46,413
3,811,768 3,623,386

The average number of employees during the year was as follows:
2023 2022

Directors 4 4
Managers 6 6
Administration 4 4
Operatives 53 55
67 69

2023 2022
£    £   
Directors' remuneration 82,160 62,972

3. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 193,304 212,963
Depreciation - owned assets 159,255 154,928
Depreciation - assets on hire purchase contracts 56,918 38,759
Profit on disposal of fixed assets (22,972 ) -
Auditors' remuneration 7,150 6,600
Foreign exchange differences 11,048 12,085

4. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest payable 66,518 30,994
Corporation tax interest 199 -
Loan and mortgage interest
payable 170,153 79,829
Hire purchase and finance lease charges 12,526 11,587
249,396 122,410

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


5. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax - 1,100
Under / (Overprovision) in
previous year - (162,395 )
Total current tax - (161,295 )

Deferred tax 105,503 -
Tax on profit 105,503 (161,295 )

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


7. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 3,232,585 2,194,894 340,633
Additions 88,010 336,492 7,961
Disposals - (33,250 ) -
At 31 December 2023 3,320,595 2,498,136 348,594
DEPRECIATION
At 1 January 2023 2,350,247 1,313,414 283,678
Charge for year 56,750 140,632 8,743
Eliminated on disposal - (9,108 ) -
At 31 December 2023 2,406,997 1,444,938 292,421
NET BOOK VALUE
At 31 December 2023 913,598 1,053,198 56,173
At 31 December 2022 882,338 881,480 56,955

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


7. TANGIBLE FIXED ASSETS - continued

Group

Motor
vehicles Land Totals
£    £    £   
COST
At 1 January 2023 291,190 311,035 6,370,337
Additions 6,000 - 438,463
Disposals (26,339 ) - (59,589 )
At 31 December 2023 270,851 311,035 6,749,211
DEPRECIATION
At 1 January 2023 248,803 - 4,196,142
Charge for year 10,048 - 216,173
Eliminated on disposal (19,829 ) - (28,937 )
At 31 December 2023 239,022 - 4,383,378
NET BOOK VALUE
At 31 December 2023 31,829 311,035 2,365,833
At 31 December 2022 42,387 311,035 2,174,195

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 398,365
Additions 157,445
At 31 December 2023 555,810
DEPRECIATION
At 1 January 2023 51,075
Charge for year 56,918
At 31 December 2023 107,993
NET BOOK VALUE
At 31 December 2023 447,817
At 31 December 2022 347,290

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


7. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 2,702,691 2,144,424 340,633
Additions 88,010 336,492 7,961
Disposals - (33,250 ) -
At 31 December 2023 2,790,701 2,447,666 348,594
DEPRECIATION
At 1 January 2023 2,350,247 1,281,894 283,678
Charge for year 56,750 137,789 8,743
Eliminated on disposal - (9,108 ) -
At 31 December 2023 2,406,997 1,410,575 292,421
NET BOOK VALUE
At 31 December 2023 383,704 1,037,091 56,173
At 31 December 2022 352,444 862,530 56,955

Motor
vehicles Land Totals
£    £    £   
COST
At 1 January 2023 291,190 311,035 5,789,973
Additions 6,000 - 438,463
Disposals (26,339 ) - (59,589 )
At 31 December 2023 270,851 311,035 6,168,847
DEPRECIATION
At 1 January 2023 248,803 - 4,164,622
Charge for year 10,048 - 213,330
Eliminated on disposal (19,829 ) - (28,937 )
At 31 December 2023 239,022 - 4,349,015
NET BOOK VALUE
At 31 December 2023 31,829 311,035 1,819,832
At 31 December 2022 42,387 311,035 1,625,351

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


7. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 384,745
Additions 157,445
At 31 December 2023 542,190
DEPRECIATION
At 1 January 2023 44,648
Charge for year 56,918
At 31 December 2023 101,566
NET BOOK VALUE
At 31 December 2023 440,624
At 31 December 2022 340,097

8. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 January 2023
and 31 December 2023 3,001
NET BOOK VALUE
At 31 December 2023 3,001
At 31 December 2022 3,001

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


8. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 900 3,001 3,901
NET BOOK VALUE
At 31 December 2023 900 3,001 3,901
At 31 December 2022 900 3,001 3,901

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

Subsidiary

Bell Brothers Farms Limited
Registered office: The Old Vicarage, Church Close, Boston, PE21 6NA
Nature of business: Farming
%
Class of shares: holding
Ordinary 90.00
2023 2022
£    £   
Aggregate capital and reserves 187 47,522
(Loss)/profit for the year (47,335 ) 2,558


9. STOCKS

Group Company
2023 2022 2023 2022
£    £    £    £   
Plant stocks 2,505,528 3,091,453 2,498,684 3,088,132

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 792,259 988,949 792,259 977,839
Amounts owed by group undertakings - - 587,402 541,976
Other debtors 225,265 97,461 225,265 97,461
Directors' current accounts 70,216 94,646 60,216 84,646
Tax 34,606 162,395 34,606 162,395
VAT 15,192 - 12,926 -
Called up share capital not paid 100 100 - -
Prepayments and accrued income 1,567,315 298,664 1,527,041 224,707
2,704,953 1,642,215 3,239,715 2,089,024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 13) 674,350 684,309 674,350 659,715
Other loans (see note 13) 139,775 97,835 139,775 97,835
Hire purchase contracts (see note 14) 100,626 75,206 100,626 75,206
Trade creditors 1,487,836 1,003,074 1,486,432 991,981
Corporation Tax - 1,100 - -
Social security and other taxes 32,945 49,821 32,945 49,821
VAT - 115,880 - 116,122
Other creditors 68,702 68,117 48,702 48,117
Euro forward - 113,439 - 113,439
Directors' current accounts 71,323 19,051 71,323 19,051
Accruals and deferred income 57,904 84,838 56,909 84,013
2,633,461 2,312,670 2,611,062 2,255,300

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 13) 1,887,084 1,835,372 1,887,084 1,835,372
Other loans (see note 13) 266,805 210,942 266,805 210,942
Hire purchase contracts (see note 14) 211,168 153,498 211,168 153,498
2,365,057 2,199,812 2,365,057 2,199,812

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


13. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 555,189 604,212 555,189 579,618
HSBC Loan 119,161 80,097 119,161 80,097
Other loans 139,775 97,835 139,775 97,835
814,125 782,144 814,125 757,550
Amounts falling due between one and two years:
HSBC Loan 123,652 82,135 123,652 82,135
Other loans - 1-2 years 150,094 102,840 150,094 102,840
273,746 184,975 273,746 184,975
Amounts falling due between two and five years:
Bank loans - 2-5 years 360,170 259,157 360,170 259,157
Other loans - 2-5 years 116,711 108,102 116,711 108,102
476,881 367,259 476,881 367,259
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,403,262 1,494,080 1,403,262 1,494,080

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 100,626 75,206
Between one and five years 211,168 153,498
311,794 228,704

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


14. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 100,626 75,206
Between one and five years 211,168 153,498
311,794 228,704

Company
Non-cancellable operating leases
2023 2022
£    £   
Within one year 4,649 4,649
Between one and five years 775 5,424
5,424 10,073

15. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank overdrafts 555,189 604,212 555,189 579,618
Bank loans 2,006,245 1,915,469 2,006,245 1,915,469
Hire purchase contracts 311,794 228,704 311,794 228,704
2,873,228 2,748,385 2,873,228 2,723,791

16. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 105,503 - 105,503 -

BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Charge to Income Statement during year 105,503
Balance at 31 December 2023 105,503

Company
Deferred
tax
£   
Charge to Income Statement during year 105,503
Balance at 31 December 2023 105,503

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

18. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 2,414,371
Profit for the year 95,713
At 31 December 2023 2,510,084

Company
Retained
earnings
£   

At 1 January 2023 2,372,037
Profit for the year 138,315
At 31 December 2023 2,510,352


BELL BROTHERS NURSERIES LIMITED (REGISTERED NUMBER: 04331554)

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


19. NON-CONTROLLING INTERESTS

The minority interest represents a 10% minority holding in Bell Brothers Farms Limited.

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
R A Bell
Balance outstanding at start of year 73,888 64,334
Amounts advanced - 73,888
Amounts repaid (9,489 ) (64,334 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,399 73,888

Mr J D Bell
Balance outstanding at start of year 20,758 24,586
Amounts advanced - 20,758
Amounts repaid (20,758 ) (24,586 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 20,758

B D Bell
Balance outstanding at start of year - -
Amounts advanced 3,506 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,506 -

Mrs M A Bell
Balance outstanding at start of year - -
Amounts advanced 2,312 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,312 -

21. SUBSIDIARY

The following subsidiary has taken audit exemption under Section 479A

Bell Brothers Farms Limited Registered Number 07087314.