Silverfin false false 31/12/2023 01/01/2023 31/12/2023 A C Harker 30/03/2006 17 October 2024 The principal activity of Plantco UK Ltd (‘the company’) is that of nurserymen. 05763222 2023-12-31 05763222 bus:Director1 2023-12-31 05763222 2022-12-31 05763222 core:CurrentFinancialInstruments 2023-12-31 05763222 core:CurrentFinancialInstruments 2022-12-31 05763222 core:Non-currentFinancialInstruments 2023-12-31 05763222 core:Non-currentFinancialInstruments 2022-12-31 05763222 core:ShareCapital 2023-12-31 05763222 core:ShareCapital 2022-12-31 05763222 core:RetainedEarningsAccumulatedLosses 2023-12-31 05763222 core:RetainedEarningsAccumulatedLosses 2022-12-31 05763222 core:Goodwill 2022-12-31 05763222 core:Goodwill 2023-12-31 05763222 core:InvestmentPropertyIncludedWithinPPE 2022-12-31 05763222 core:PlantMachinery 2022-12-31 05763222 core:Vehicles 2022-12-31 05763222 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 05763222 core:PlantMachinery 2023-12-31 05763222 core:Vehicles 2023-12-31 05763222 core:CostValuation 2022-12-31 05763222 core:CostValuation 2023-12-31 05763222 bus:OrdinaryShareClass1 2023-12-31 05763222 bus:PreferenceShareClass1 2023-12-31 05763222 2023-01-01 2023-12-31 05763222 bus:FilletedAccounts 2023-01-01 2023-12-31 05763222 bus:SmallEntities 2023-01-01 2023-12-31 05763222 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05763222 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05763222 bus:Director1 2023-01-01 2023-12-31 05763222 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 05763222 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 05763222 core:PlantMachinery 2023-01-01 2023-12-31 05763222 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 05763222 2022-01-01 2022-12-31 05763222 core:Goodwill 2023-01-01 2023-12-31 05763222 core:Vehicles 2023-01-01 2023-12-31 05763222 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 05763222 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05763222 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 05763222 bus:PreferenceShareClass1 2023-01-01 2023-12-31 05763222 bus:PreferenceShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05763222 (England and Wales)

PLANTCO UK LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

PLANTCO UK LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PLANTCO UK LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
PLANTCO UK LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 1,500 2,250
Tangible assets 4 337,448 353,723
Investments 5 2 2
338,950 355,975
Current assets
Stocks 6 253,384 308,882
Debtors 7 1,169 2,520
Cash at bank and in hand 458,229 307,225
712,782 618,627
Creditors: amounts falling due within one year 8 ( 249,517) ( 186,103)
Net current assets 463,265 432,524
Total assets less current liabilities 802,215 788,499
Creditors: amounts falling due after more than one year 9 ( 32,369) ( 59,025)
Net assets 769,846 729,474
Capital and reserves
Called-up share capital 10 300,102 300,102
Profit and loss account 469,744 429,372
Total shareholders' funds 769,846 729,474

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Plantco UK Ltd (registered number: 05763222) were approved and authorised for issue by the Director. They were signed on its behalf by:

A C Harker
Director

17 October 2024

PLANTCO UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PLANTCO UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Plantco UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

**Sale of goods**

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* itis probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property 2 % reducing balance
Plant and machinery 25 % reducing balance
Vehicles 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 12 12

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 15,000 15,000
At 31 December 2023 15,000 15,000
Accumulated amortisation
At 01 January 2023 12,750 12,750
Charge for the financial year 750 750
At 31 December 2023 13,500 13,500
Net book value
At 31 December 2023 1,500 1,500
At 31 December 2022 2,250 2,250

4. Tangible assets

Investment property Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 January 2023 351,726 172,410 25,997 550,133
Additions 0 1,589 0 1,589
At 31 December 2023 351,726 173,999 25,997 551,722
Accumulated depreciation
At 01 January 2023 29,710 153,701 12,999 196,410
Charge for the financial year 6,440 4,925 6,499 17,864
At 31 December 2023 36,150 158,626 19,498 214,274
Net book value
At 31 December 2023 315,576 15,373 6,499 337,448
At 31 December 2022 322,016 18,709 12,998 353,723

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 2 2
At 31 December 2023 2 2
Carrying value at 31 December 2023 2 2
Carrying value at 31 December 2022 2 2

6. Stocks

2023 2022
£ £
Stocks 253,384 308,882

7. Debtors

2023 2022
£ £
Other debtors 1,169 2,520

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 30,175 28,516
Trade creditors 50,891 37,016
Taxation and social security 86,078 32,974
Other creditors 82,373 87,597
249,517 186,103

9. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 32,369 59,025

There are no amounts included above in respect of which any security has been given by the small entity.

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
102 Ordinary shares of £ 1.00 each 102 102
300,000 Preference shares of £ 1.00 each 300,000 300,000
300,102 300,102

11. Related party transactions

Included within other creditors is a balance of £47,807 (2022: £46,807) owed to D C Harker, the brother of the director. This balance is unsecured and interest free.

Also included within other creditors is a balance of £9,498 (2022: £11,498) owed to A C Harker, the director. This balance is unsecured and interest free.

Also included within other creditors is a balance of £2,674 (2022: £2,674) owed to Northfield Garden Centre Limited, a subsidiary company in which Mr A C Harker is also a director.