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REGISTERED NUMBER: 12007645 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

HIGHFIELDS NURSERY LTD

HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHFIELDS NURSERY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J Krayesteyn
Mrs M S Krayesteyn





REGISTERED OFFICE: 3 Manor Road
Colchester
Essex
CO3 3LU





REGISTERED NUMBER: 12007645 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 36,000
Tangible assets 5 59,982 66,353
89,982 102,353

CURRENT ASSETS
Stocks 6 164,283 164,189
Debtors 7 108,402 91,182
Cash at bank 216,160 197,265
488,845 452,636
CREDITORS
Amounts falling due within one year 8 202,560 185,258
NET CURRENT ASSETS 286,285 267,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,267

369,731

CREDITORS
Amounts falling due after more than one
year

9

(29,259

)

(77,265

)

PROVISIONS FOR LIABILITIES (10,305 ) (11,370 )
NET ASSETS 336,703 281,096

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 336,503 280,896
336,703 281,096

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

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

HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





J Krayesteyn - Director


HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Highfields Nursery Ltd 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. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Portacabins - 5% on reducing balance
Plant and machinery - 15% on reducing balance
Poly Tunnels - 10% on reducing balance
Mercedes KV63 TZF - 25% on reducing balance
Office equipment - 15% on reducing balance

Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to the profit and loss.

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

Work in progress has been valued at selling price based upon the work carried out at the balance sheet date, and is included in trade debtors.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.


HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 60,000
AMORTISATION
At 1 June 2023 24,000
Amortisation for year 6,000
At 31 May 2024 30,000
NET BOOK VALUE
At 31 May 2024 30,000
At 31 May 2023 36,000

The goodwill was acquired on purchase of the business of J & Mrs M Krayesteyn on 1st June 2019

HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Plant and Poly
Portacabins machinery Tunnels
£    £    £   
COST
At 1 June 2023 13,254 30,000 39,305
Additions - 441 -
At 31 May 2024 13,254 30,441 39,305
DEPRECIATION
At 1 June 2023 663 11,375 11,832
Charge for year 630 2,860 2,747
At 31 May 2024 1,293 14,235 14,579
NET BOOK VALUE
At 31 May 2024 11,961 16,206 24,726
At 31 May 2023 12,591 18,625 27,473

Mercedes Office
KV63 TZF equipment Totals
£    £    £   
COST
At 1 June 2023 4,500 10,158 97,217
Additions - 844 1,285
At 31 May 2024 4,500 11,002 98,502
DEPRECIATION
At 1 June 2023 3,077 3,917 30,864
Charge for year 356 1,063 7,656
At 31 May 2024 3,433 4,980 38,520
NET BOOK VALUE
At 31 May 2024 1,067 6,022 59,982
At 31 May 2023 1,423 6,241 66,353

HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Poly
Tunnels
£   
COST
At 1 June 2023
and 31 May 2024 39,305
DEPRECIATION
At 1 June 2023 11,832
Charge for year 2,747
At 31 May 2024 14,579
NET BOOK VALUE
At 31 May 2024 24,726
At 31 May 2023 27,473

6. STOCKS
2024 2023
£    £   
Stocks 164,283 164,189

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 106,888 90,239
Prepayments and accrued income 1,514 943
108,402 91,182

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Poly tunnel finance 6,083 7,538
Trade creditors 62,521 46,677
Corporation tax 48,158 34,375
Social security and other taxes 38,762 41,905
Directors loan account 35,000 50,000
Accrued expenses 12,036 4,763
202,560 185,258

HIGHFIELDS NURSERY LTD (REGISTERED NUMBER: 12007645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Poly tunnel finance 1-2 years 3,085 6,083
Poly tunnel finance 2-5 years - 3,085
Directors loan account 26,174 68,097
29,259 77,265

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Hans and Miranda Krayesteyn, directors of the company, have entered into a guarantee to support the credit available to the limited company. The facility as at the balance sheet date is limited to £10,792.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £66,900 (2023 - £62,900) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The controlling party is J Krayesteyn.