Springhill Nurseries Ltd 05956828 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is tomato production Digita Accounts Production Advanced 6.30.9574.0 true true 05956828 2023-02-01 2024-01-31 05956828 2024-01-31 05956828 bus:OrdinaryShareClass1 2024-01-31 05956828 bus:OrdinaryShareClass2 2024-01-31 05956828 core:RetainedEarningsAccumulatedLosses 2024-01-31 05956828 core:ShareCapital 2024-01-31 05956828 core:CurrentFinancialInstruments 2024-01-31 05956828 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05956828 core:Non-currentFinancialInstruments 2024-01-31 05956828 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 05956828 core:FurnitureFittingsToolsEquipment 2024-01-31 05956828 core:LandBuildings 2024-01-31 05956828 core:MotorVehicles 2024-01-31 05956828 core:OtherPropertyPlantEquipment 2024-01-31 05956828 bus:SmallEntities 2023-02-01 2024-01-31 05956828 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05956828 bus:FullAccounts 2023-02-01 2024-01-31 05956828 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05956828 bus:RegisteredOffice 2023-02-01 2024-01-31 05956828 bus:CompanySecretary1 2023-02-01 2024-01-31 05956828 bus:Director1 2023-02-01 2024-01-31 05956828 bus:Director2 2023-02-01 2024-01-31 05956828 bus:Director4 2023-02-01 2024-01-31 05956828 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05956828 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 05956828 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05956828 bus:Agent1 2023-02-01 2024-01-31 05956828 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 05956828 core:ShareCapital 2023-02-01 2024-01-31 05956828 core:FurnitureFittings 2023-02-01 2024-01-31 05956828 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 05956828 core:LandBuildings 2023-02-01 2024-01-31 05956828 core:MotorVehicles 2023-02-01 2024-01-31 05956828 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 05956828 core:PlantMachinery 2023-02-01 2024-01-31 05956828 core:Vehicles 2023-02-01 2024-01-31 05956828 countries:England 2023-02-01 2024-01-31 05956828 2023-01-31 05956828 core:RetainedEarningsAccumulatedLosses 2023-01-31 05956828 core:ShareCapital 2023-01-31 05956828 core:FurnitureFittingsToolsEquipment 2023-01-31 05956828 core:LandBuildings 2023-01-31 05956828 core:MotorVehicles 2023-01-31 05956828 core:OtherPropertyPlantEquipment 2023-01-31 05956828 2022-02-01 2023-01-31 05956828 2023-01-31 05956828 bus:OrdinaryShareClass1 2023-01-31 05956828 bus:OrdinaryShareClass2 2023-01-31 05956828 core:RetainedEarningsAccumulatedLosses 2023-01-31 05956828 core:ShareCapital 2023-01-31 05956828 core:CurrentFinancialInstruments 2023-01-31 05956828 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 05956828 core:Non-currentFinancialInstruments 2023-01-31 05956828 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 05956828 core:FurnitureFittingsToolsEquipment 2023-01-31 05956828 core:LandBuildings 2023-01-31 05956828 core:MotorVehicles 2023-01-31 05956828 core:OtherPropertyPlantEquipment 2023-01-31 05956828 core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 05956828 core:ShareCapital 2022-02-01 2023-01-31 05956828 2022-01-31 05956828 core:RetainedEarningsAccumulatedLosses 2022-01-31 05956828 core:ShareCapital 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05956828

Springhill Nurseries Ltd

Annual Report and Unaudited Financial Statements

for the Year Ending 31 January 2024
 

 

Springhill Nurseries Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 11

 

Springhill Nurseries Ltd

Company Information

Directors

Mr Richard S Holt

Mr Roland E S Holt

Mrs Laura J D Holt

Company secretary

Mrs Laura Holt

Registered office

Oak Corner
Offenham Cross
Eveshan
Worcester
WR11 8RB

Accountants

Oakleys Professional Limited
14 St. Owen Street
Hereford
HR1 2PL

 

Springhill Nurseries Ltd

Directors' Report for the Year Ending 31 January 2024
 

The directors present their report and the financial statements for the year ending 31 January 2024
 

Directors of the company

The directors who held office during the year were as follows:

Mr Richard S Holt

Mr Roland E S Holt

Mrs Laura J D Holt

Principal activity

The principal activity of the company is tomato production

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 4 October 2024 and signed on its behalf by:

.........................................
Mr Richard S Holt
Director

.........................................
Mr Roland E S Holt
Director

.........................................
Mrs Laura J D Holt
Director

     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Springhill Nurseries Ltd
for the Year Ending 31 January 2024
 

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Springhill Nurseries Ltd for the year ended 31 January 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Springhill Nurseries Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Springhill Nurseries Ltd. You consider that Springhill Nurseries Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Springhill Nurseries Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Oakleys Professional Limited
14 St. Owen Street
Hereford
HR1 2PL

4 October 2024

 

Springhill Nurseries Ltd

(Registration number: 05956828)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,018,836

2,096,408

Current assets

 

Stocks

5

576,564

595,000

Debtors

6

612,249

667,719

Cash at bank and in hand

 

123,312

85,598

 

1,312,125

1,348,317

Creditors: Amounts falling due within one year

7

(2,099,477)

(2,025,782)

Net current liabilities

 

(787,352)

(677,465)

Total assets less current liabilities

 

1,231,484

1,418,943

Creditors: Amounts falling due after more than one year

7

-

(137,686)

Provisions for liabilities

(179,201)

(192,963)

Net assets

 

1,052,283

1,088,294

Capital and reserves

 

Called up share capital

8

300

300

Retained earnings

1,051,983

1,087,994

Shareholders' funds

 

1,052,283

1,088,294

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
Mrs Laura J D Holt
Director

 

Springhill Nurseries Ltd

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 February 2023

300

1,087,994

1,088,294

Loss for the year

-

(36,011)

(36,011)

Total comprehensive income

-

(36,011)

(36,011)

At 31 January 2024

300

1,051,983

1,052,283

Share capital
£

Profit and loss account
£

Total
£

At 1 February 2022

300

946,933

947,233

Profit for the year

-

141,061

141,061

Total comprehensive income

-

141,061

141,061

At 31 January 2023

300

1,087,994

1,088,294

 

Springhill Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Oak Corner
Offenham Cross
Eveshan
Worcester
WR11 8RB

These financial statements were authorised for issue by the Board on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Springhill Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Equipment, fixtures & fittings

25% reducing balance

Plant & machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

The directors have chosen the fair value model basis for the valuation of biological assets under FRS 102.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Springhill Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2023 - 42).

 

Springhill Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

255,368

2,164,787

120,668

745,127

3,285,950

Additions

-

935

15,000

-

15,935

At 31 January 2024

255,368

2,165,722

135,668

745,127

3,301,885

Depreciation

At 1 February 2023

-

491,499

96,160

601,883

1,189,542

Charge for the year

-

67,559

9,877

16,071

93,507

At 31 January 2024

-

559,058

106,037

617,954

1,283,049

Carrying amount

At 31 January 2024

255,368

1,606,664

29,631

127,173

2,018,836

At 31 January 2023

255,368

1,673,288

24,508

143,244

2,096,408

Included within the net book value of land and buildings above is £255,368 (2023 - £255,368) in respect of freehold land and buildings.
 

 

Springhill Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Stocks

2024
£

2023
£

Raw materials and consumables

576,564

595,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

588,562

621,025

Other debtors

23,687

46,694

 

612,249

667,719

 

Springhill Nurseries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

trade creditors

1,894,294

1,824,479

Other creditors

205,183

201,303

2,099,477

2,025,782

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

137,686

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

200

200

200

200

 

300

300

300

300

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

137,686