Company Registration No. 07309198 (England and Wales)
NEAME LEA NURSERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
29 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
Eastwest
Tollhouse
Nottingham
NG1 5FS
NEAME LEA NURSERY LIMITED
CONTENTS
Page
Company information
0
Balance sheet
2
Notes to the financial statements
4 - 8
NEAME LEA NURSERY LIMITED
COMPANY INFORMATION
Directors
Mr D Ball
Mr K Zwetsloot
Company number
07309198
Registered office
1-4 London Road
Spalding
Lincolnshire
PE11 2TA
Accountants
KPMG LLP
Eastwest
Tollhouse
Nottingham
NG1 5FS
NEAME LEA NURSERY LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 29 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the Period ended 29 December 2023.

Principal activities

The principal activity of the company continued to be dormant.

Directors

The directors who held office during the Period and up to the date of signature of the financial statements were as follows:

Mrs L Motala
(Resigned 28 June 2024)
Mr D Ball
Mr K Zwetsloot
(Appointed 15 December 2023)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr D Ball
Director
23 December 2024
NEAME LEA NURSERY LIMITED
BALANCE SHEET
AS AT 29 DECEMBER 2023
29 December 2023
- 2 -
29 December 2023
31 December 2022
Notes
£
£
£
£
Current assets
Debtors
4
-
0
199,534
Cash at bank and in hand
-
0
47
-
0
199,581
Creditors: amounts falling due within one year
5
-
0
(6,964,475)
Net current liabilities
-
0
(6,764,894)
Capital and reserves
Called up share capital
2
2
Capital redemption reserve
6,878,487
-
0
Profit and loss reserves
(6,878,489)
(6,764,896)
Total equity
-
0
(6,764,894)

For the financial Period ended 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 23 December 2024 and are signed on its behalf by:
Mr D Ball
Director
Company registration number 07309198 (England and Wales)
NEAME LEA NURSERY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 DECEMBER 2023
- 3 -
Share capital
Capital contribution reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 30 December 2021
2
-
0
(5,848,062)
(5,848,060)
Period ended 29 December 2022:
Loss and total comprehensive income for the period
-
-
(916,834)
(916,834)
Balance at 29 December 2022
2
-
0
(6,764,896)
(6,764,894)
Period ended 29 December 2023:
Loss and total comprehensive income for the period
-
-
(113,593)
(113,593)
Group restructuring
-
0
6,878,487
-
0
6,878,487
Balance at 29 December 2023
2
6,878,487
(6,878,489)
-
0
NEAME LEA NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Neame Lea Nursery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1-4 London Road, Spalding, Lincolnshire, PE11 2TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

During the year the group went through a restructuring process which resulted in Neame Lea Nursery becoming dormant and surplus to requirements. The company no longer trades and it is ultimately the intention to close Neame Lea Nursery in the future, therefore the accounts have been prepared on a basis other than going concern.true

1.3
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 current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

NEAME LEA NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

NEAME LEA NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant including managements expectations of future events. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
2022
Number
Number
Total
-
0
-
0
NEAME LEA NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2023
- 7 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
13
Other debtors
-
0
86,030
-
0
86,043
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
113,491
Total debtors
-
0
199,534
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts due to related parties
-
0
6,964,475
6
Reserves

Share capital

Represents the nominal value of shares that have been issued.

 

Profit and loss account

Includes all current and prior period retained profits and losses, inclusive of cumulative unrealised gains and losses for assets shown at fair value at the balance sheet date.

 

7
Related party transactions

Summary of transactions with parent

The Company has taken advantage of the exemption in FRS 102 Section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by its parent group.

 

NEAME LEA NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2023
- 8 -
8
Untimate controlling party

The company's immediate parent is Bridge Farm Bioscience Limited (formerly Bridge Farm Nurseries Limited).

 

The ultimate parent is Facere Holdings Ltd.

 

The most senior parent entity producing publicly available financial statements is Facere Holdings Ltd. These financial statements are available upon request from https://find-and update.company-information.service.gov.uk/ or available upon request from C/O TC Group, 1-4 London Road, Spalding, Lincolnshire PE11 2TA.

 

The highest UK entity within the group for which consolidated accounts are available is Facere Holdings Ltd. Financial statements are available upon request from C/O TC Group, 1-4 London Road, Spalding, Lincolnshire PE11 2TA.

 

Consolidated accounts are also prepared by Bridge Farm Group Ltd. These are available upon request from C/O TC Group, 1-4 London Road, Spalding, Lincolnshire PE11 2TA.

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