Registered number
02570425
EUROPLANTS (UK) LTD
Filleted Accounts
31 January 2024
EUROPLANTS (UK) LTD
Report and accounts
Contents
Page
Company information 1
Company Statement of Financial Position 2
Notes to the Financial statements 3-11
EUROPLANTS (UK) LTD
Company Information
Directors
The Late R A C Canale - Managing Director - Deceased 17 May 2021
Valerie Canale - Appointed on 05 March 2021
Fabienne Canale Thomson - Appointed on 15 March 2021
Secretary
Valerie Canale
Accountants
H Plaskow & Co
Chartered Certified Accountants
208 Green Lanes
Palmers Green
London
N13 5UE
Bankers
Handelsbanken
Svenska Handelsbanken AB (publ)
2nd Floor, East Suite
Nicholas House, River Front
Enfield
EN1 3TF
Registered office
Great North Road
Bell Bar A1000
Nr Hatfield
Hertfordshire
AL9 6DA
Registered number
02570425
EUROPLANTS (UK) LTD
Registered number: 02570425
Statement of Financial Position
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 10 2,046,659 2,048,521
Investments 11 2,043,746 2,043,746
4,090,405 4,092,267
Current assets
Stocks 12 1,294,525 1,135,543
Debtors 13 1,167,579 1,144,958
Cash at bank and in hand 6,684,337 6,303,728
9,146,441 8,584,229
Creditors: amounts falling due within one year 14 (3,113,474) (3,204,934)
Net current assets 6,032,967 5,379,295
Total assets less current liabilities 10,123,372 9,471,562
Provisions for liabilities 15 (68,344) (50,526)
Net assets 10,055,028 9,421,036
Capital and reserves
Called up share capital 450 450
Profit and loss account 10,054,578 9,420,586
Shareholders' funds 10,055,028 9,421,036
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Fabienne Canale Valerie Canale
Director Director
Approved by the board on 11 October 2024 Approved by the board on 11 October 2024
EUROPLANTS (UK) LTD
Notes to the Accounts
for the year ended 31 January 2024
1 General Information
Europlants (UK) Ltd is a company limited by shares, incorporated in England and Wales. Its registered office is Great North,Bell Bar A1000, Nr Hatfield, Hertfordshire, AL9 6DA.
2 Accounting policies
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
The individual financial statements of Europlants (UK) Ltd have been prepared in accordance with
the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are presented in Sterling (£).
Going Concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation
that the company has adequate resources to continue in operational existence for the foreseeable future.
The company therefore continues to adopt the going concern basis in preparing its financial
statements.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Sale of goods
The company sells indoor and outdoor plants together with related sundries during the year. Sale of
goods are recognised when the company has delivered plants to the customer and no other significant
obligation remains unfulfilled that may affect the customer's acceptance of the products. When plants
are delivered revenue is recognised when it is completed. The risk of obsolescence and loss of the
plants are considered to have been transferred to the customers when the products are shipped to
the location specified by the customer, and the customer has accepted them.
Interest income
Interest income is recognised using the effective interest method.
Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the
relevant lease unless the lease payments are structured to increase in line with expected general
inflation in which case the income is recognised as revenue in accordance with the expected
payments. Rental income is included in other income from fixed assets.
Property, plant and equipment
Land and buildings are carried at their revalued amounts, being fair value at the date of valuation
less subsequent depreciation and impairment losses. Revaluations are performed by professional
qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially
from those that would be determined using fair values at the end of each reporting period. Any
accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount
of the asset and the net amount is restated to the revalued amount of the asset.
Any revaluation increase in the carrying amount of land and buildings is recognised in other
comprehensive income and included in a revaluation reserve in equity, except to the extent that it
reverses a revaluation decrease of the same asset previously recognised in profit or loss, in
which case the increase is credited to profit and loss to the extent of the decrease previously
expended. Decreases that offset previous increases of the same asset are charged in other
comprehensive income and debited against revaluation reserve in equity; decreases exceeding the
the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the
difference between depreciation based on the revalued carrying amount ofasset recognised in
profit or loss and depreciation based on the asset's original cost is transferred from revaluation
reserve to retained earnings.
Land and buildings were carried at cost less accumulated depreciation and impairment in previous
periods. The use of a policy of revaluation provides more relevant and reliable information about
the vale of the property owned by the company.
Vehicles and machinery are carried at cost less accumulated depreciation and accumulated
impairment losses.
Land is not depreciated. Depreciation on other assets is calculated so as to write off the cost or
valuation of an asset, less its residual value, over their estimated useful lives as follows:
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold, industrial buildings and improvements 2% on cost
Fixtures and fittings 10% on reducing balance
Motor vehicles 25% on reducing balance
Plant and machinery 10% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Income tax
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years.

A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred taxation is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that 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 differences. Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.
Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.
Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand 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 to changes in value.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing and hire purchase commitments
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

Rights to use assets and corresponding obligations to lessors finance leases are recognised in the statement of financial position as assets and liabilities at the lower of fair value of the assets and the present value of the minimum lease payments, determined at the inception of the lease.

Lease payments are apportioned between finance charges and reduction of outstanding lease liabilities using the effective interest method, so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in profit or loss.

Assets held under finance leases are included in property, plant and equipment and are depreciated and reviewed for impairment in the same way as assets owned outright.

Payments received under operating leases are recognised as income over the lease term on a straight-line basis.


Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Judgements and key sources of estimation uncertainty
An entity shall disclose the judgements, apart from those involving estimations, that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

An entity shall disclose in the notes information about the key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. In respect of those assets and liabilities, the notes shall include details of their nature; and their carrying amount as at the end of the reporting period.

No significant judgements have had to be made by management in preparing these financial statements.
4 Analysis of turnover
2024 2023
£ £
By activity
Plant wholesale 8,679,244 8,539,621
8,679,244 8,539,621
By geographical market:
UK 8,679,244 8,539,621
8,679,244 8,539,621
5 Cost of sales and net operating expenses
The total figures for continuing operations in 2024 include the following amounts relating to
acquisitions: cost of sales £5,963,281 and administrative expenses totalling £1,788,077.
6 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 66,609 64,369
Amortisation of improvements 11,652 11,652
7 Director's emoluments 2024 2023
£ £
Emoluments 70,835 68,451
70,835 68,451
8 Staff costs 2024 2023
£ £
Wages and salaries 890,816 807,528
Social security costs 80,465 81,696
Other pension costs 27,788 26,403
999,069 915,627
Average number of employees during the year 2024 2023
Number Number
Administration and management 9 9
Office employees 19 16
Total 28 25
The company operates a stakeholder defined contribution pension scheme for the benefit of the
employees and directors. Pension payments recognised as expenses during the year amounting
to £27,788.
9 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 238,182 204,359
238,182 204,359
Deferred tax:
Origination and reversal of timing differences 17,818 11,186
17,818 11,186
Tax on profit on ordinary activities 256,000 215,545
10 Tangible fixed assets
Leasehold industrial building and improvement Fixtures, Fittings, Tools and Equipment Plant and machinery etc Land and buildings Motor vehicles Total
£ £ £ £ £ £
Cost
At 1 February 2023 582,583 162,079 341,508 1,291,773 538,504 2,916,447
Additions - 4,716 14,748 - 56,936 76,400
At 31 January 2024 582,583 166,795 356,256 1,291,773 595,440 2,992,847
Depreciation
At 1 February 2023 105,010 101,362 273,122 - 388,432 867,926
Charge for the year 11,652 6,488 8,369 - 51,753 78,262
At 31 January 2024 116,662 107,850 281,491 - 440,185 946,188
Net book value
At 31 January 2024 465,921 58,945 74,765 1,291,773 155,255 2,046,659
At 31 January 2023 477,573 60,717 68,386 1,291,773 150,072 2,048,521
11 Investments
2024 2023
£ £
Interests in M.K.M Nurseries Ltd 2,023,746 2,023,746
Other investments 20,000 20,000
At 31 January 2024 2,043,746 2,043,746
Holding of 100%
The company holds 100% of the share capital of the following company:
Type of Proportion Country of Nature of
shares hold held % incorporation business
Subsidiary
MKM Nurseries Ltd Ordinary 100% UK Nursery and
garden
services
On 4 December 2014 Europlants (UK) Ltd acquired the entire share capital of MKM Nurseries Ltd
for a cash consideration of £2,023,746. The investment was incurred to increase the market shares
of Europlants (UK) Ltd.
The company has also invested £20,000 to acquire 4 Ordinary shares of £1 each of Oakgrange Ltd
in 2016.
12 Stocks
2024 2023
£ £
Finished goods and goods for resale 1,294,525 1,135,543
1,294,525 1,135,543
13 Debtors 2024 2023
£ £
Trade debtors 1,045,389 1,106,841
Other debtors 122,190 38,117
1,167,579 1,144,958
14 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,588,159 2,486,383
Corporation Tax 238,182 204,359
Taxation and social security costs 26,259 38,193
Accruals and Deferred Income 172,805 196,767
Other creditors 88,069 279,232
3,113,474 3,204,934
15 Deferred taxation
2024 2023
£ £
Accelerated capital allowances 68,344 50,526
Tax losses carried forward
Undiscounted provision for deferred tax 68,344 50,526
Discounted provision for deferred tax 68,344 50,526
2024 2023
£ £
At 1 February 2023 50,526 39,340
Deferred tax charge in profit and loss
account 17,818 11,186
At 31 January 2024 68,344 50,526
16 Share Capital
Share capital Nominal 2020 2024 2023
value Number
Allotted, called up and fully paid:
Ordinary shares £1 each 450 450 450
450 450
17 Reconciliation of movement in shareholders' funds
2024 2023
£ £
At 1 February 2023 9,420,586 8,565,562
Profit for the financial year 747,992 955,024
Dividends (114,000) (100,000)
At 31 January 2024 10,054,578 9,420,586
18 Controlling party
The company was under the control of the director, The Late Mr R A C Canale who holds more than 90% of the voting share capital of the company.
19 Other information
EUROPLANTS (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Great North Road
Bell Bar A1000
Nr Hatfield
Hertfordshire
AL9 6DA
EUROPLANTS (UK) LTD 02570425 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Fabienne Canale No description of principal activity 02570425 2022-02-01 2023-01-31 02570425 core:WithinOneYear 2023-01-31 02570425 core:ShareCapital 2023-01-31 02570425 core:RetainedEarningsAccumulatedLosses 2023-01-31 02570425 2023-02-01 2024-01-31 02570425 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02570425 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 02570425 bus:Director40 2023-02-01 2024-01-31 02570425 1 2023-02-01 2024-01-31 02570425 2 2023-02-01 2024-01-31 02570425 core:LandBuildings 2023-02-01 2024-01-31 02570425 core:PlantMachinery 2023-02-01 2024-01-31 02570425 core:Vehicles 2023-02-01 2024-01-31 02570425 countries:England 2023-02-01 2024-01-31 02570425 bus:FRS102 2023-02-01 2024-01-31 02570425 bus:FilletedAccounts 2023-02-01 2024-01-31 02570425 2024-01-31 02570425 core:WithinOneYear 2024-01-31 02570425 core:ShareCapital 2024-01-31 02570425 core:RetainedEarningsAccumulatedLosses 2024-01-31 02570425 core:LandBuildings 2024-01-31 02570425 core:PlantMachinery 2024-01-31 02570425 core:Vehicles 2024-01-31 02570425 2023-01-31 02570425 core:LandBuildings 2023-01-31 02570425 core:PlantMachinery 2023-01-31 02570425 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure