REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
Natural Choice Nurseries Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
Natural Choice Nurseries Limited |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Natural Choice Nurseries Limited |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Woodlands Grange |
Woodlands Lane |
Bradley Stoke |
Bristol |
United Kingdom |
BS32 4JY |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Balance Sheet |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
( |
) |
( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Balance Sheet - continued |
29 February 2024 |
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 |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Natural Choice Nurseries Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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 |
Patents and licences |
Patents and licences are written off on a straight line basis over 5 years. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
In accordance with the requirements of Financial Reporting Standard 102, freehold property owned by the company is recognised at cost and depreciated over its useful economic life. No depreciation is provided on freehold property which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors to depreciate the freehold property would not give a true and fair view. The provisions of FRS 102 in respect of freehold property has therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made the profit for the year would have been decreased by depreciation. However, the amount of depreciation cannot be reasonably quantified and therefore the amount which might otherwise have been shown has not been disclosed. |
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. |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 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. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 March 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 29 February 2024 |
AMORTISATION |
At 1 March 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Cost or valuation at 29 February 2024 is represented by: |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2017 | 177,008 | - | 177,008 |
Cost | 1,097,992 | 27,919 | 1,125,911 |
1,275,000 | 27,919 | 1,302,919 |
If freehold property had not been revalued they would have been included at the following historical cost: |
29.2.24 | 28.2.23 |
£ | £ |
Cost | 1,097,992 | 1,097,992 |
Value of land in freehold land and buildings | 1,097,992 | 1,097,992 |
Freehold property were valued on an open market basis on 29 February 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Prepayments |
Natural Choice Nurseries Limited (Registered number: 05564949) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Mortgage 1-2 years | 35,223 | 35,340 |
Mortgage 2-5 years | 123,201 | 113,112 |
Mortgage > 5 years | 125,505 | 162,591 |
Amounts falling due in more than five years: |
Repayable by instalments |
Mortgage > 5 years | 125,505 | 162,591 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.2.24 | 28.2.23 |
£ | £ |
Mortgage | 316,160 | 346,383 |
The mortgages are secured against the freehold properties. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.24 | 28.2.23 |
value: | £ | £ |
Ordinary A | £1 | 20 | 20 |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is NEFE Ltd, who own 100% of issued share capital. |