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REGISTERED NUMBER: 03117804 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Pengethley Nursery and Garden Centre
Limited

Pengethley Nursery and Garden Centre
Limited (Registered number: 03117804)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Pengethley Nursery and Garden Centre
Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C S Taylor
Mrs S A Taylor
Mrs R L Watts
B T R Taylor
Ms E Taylor





SECRETARY: C S Taylor





REGISTERED OFFICE: Peterstow
Ross-on-Wye
Herefordshire
HR9 6LL





REGISTERED NUMBER: 03117804 (England and Wales)





ACCOUNTANTS: A D Accounts Limited
Rural Enterprise Centre
Vincent Carey Road
Rotherwas
Hereford
Herefordshire
HR2 6FE

Pengethley Nursery and Garden Centre
Limited (Registered number: 03117804)

Abridged Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,243,081 940,270

CURRENT ASSETS
Stocks 260,000 297,300
Debtors 212,563 532,326
Cash at bank and in hand 613,423 593,306
1,085,986 1,422,932
CREDITORS
Amounts falling due within one year (205,818 ) (319,956 )
NET CURRENT ASSETS 880,168 1,102,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,123,249

2,043,246

CAPITAL AND RESERVES
Called up share capital 138,500 138,500
Retained earnings 1,984,749 1,904,746
SHAREHOLDERS' FUNDS 2,123,249 2,043,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Pengethley Nursery and Garden Centre
Limited (Registered number: 03117804)

Abridged Balance Sheet - continued
31 January 2024


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 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

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





B T R Taylor - Director


Pengethley Nursery and Garden Centre
Limited (Registered number: 03117804)

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


1. STATUTORY INFORMATION

Pengethley Nursery and Garden Centre 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Freehold property - Straight line over 5 to 10 years
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pengethley Nursery and Garden Centre
Limited (Registered number: 03117804)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. ACCOUNTING POLICIES - continued

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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 1,587,521
Additions 324,165
Disposals (10,100 )
At 31 January 2024 1,901,586
DEPRECIATION
At 1 February 2023 647,251
Charge for year 20,972
Eliminated on disposal (9,718 )
At 31 January 2024 658,505
NET BOOK VALUE
At 31 January 2024 1,243,081
At 31 January 2023 940,270

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the previous year Ms E Taylor, a shareholder and director of the company, was loaned the amount of £445,000, on which interest has been paid at a commercial rate. The balance was fully repaid by 16th October 2024.