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REGISTERED NUMBER: 03031819 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Greenhouses Direct Limited

Greenhouses Direct Limited (Registered number: 03031819)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greenhouses Direct Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D W Moyes
T Rose
R J R Standley





SECRETARY: D W Moyes





REGISTERED OFFICE: 65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY





REGISTERED NUMBER: 03031819 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Greenhouses Direct Limited (Registered number: 03031819)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 89,793 -
Tangible assets 5 224,986 310,082
314,779 310,082

CURRENT ASSETS
Stocks 1,055,881 1,524,944
Debtors 6 498,367 263,356
Cash at bank and in hand 4,793,992 2,894,389
6,348,240 4,682,689
CREDITORS
Amounts falling due within one year 7 2,460,918 1,333,433
NET CURRENT ASSETS 3,887,322 3,349,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,202,101

3,659,338

CREDITORS
Amounts falling due after more than one
year

8

(8,946

)

-

PROVISIONS FOR LIABILITIES (76,335 ) (71,589 )
NET ASSETS 4,116,820 3,587,749

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 4,116,730 3,587,659
SHAREHOLDERS' FUNDS 4,116,820 3,587,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Greenhouses Direct Limited (Registered number: 03031819)

Balance Sheet - continued
30 April 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 24 July 2024 and were signed on its behalf by:





D W Moyes - Director


Greenhouses Direct Limited (Registered number: 03031819)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Greenhouses Direct Limited 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 2013, 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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

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.

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.

Greenhouses Direct Limited (Registered number: 03031819)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 29 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2023 893,434 - 893,434
Additions - 90,758 90,758
At 30 April 2024 893,434 90,758 984,192
AMORTISATION
At 1 May 2023 893,434 - 893,434
Charge for year - 965 965
At 30 April 2024 893,434 965 894,399
NET BOOK VALUE
At 30 April 2024 - 89,793 89,793
At 30 April 2023 - - -

Greenhouses Direct Limited (Registered number: 03031819)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 714,566
Additions 11,364
Disposals (67,723 )
At 30 April 2024 658,207
DEPRECIATION
At 1 May 2023 404,484
Charge for year 74,535
Eliminated on disposal (45,798 )
At 30 April 2024 433,221
NET BOOK VALUE
At 30 April 2024 224,986
At 30 April 2023 310,082

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 21,255 92,514
Other debtors 477,112 170,842
498,367 263,356

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 6,040 20,880
Trade creditors 883,973 424,244
Taxation and social security 716,645 287,957
Other creditors 854,260 600,352
2,460,918 1,333,433

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 8,946 -

9. OTHER FINANCIAL COMMITMENTS

At 30 April 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £592,385.

Greenhouses Direct Limited (Registered number: 03031819)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end, the director Mr Standley owes £22,745 to the company. Interest has been charged on the loan. The loan is unsecured and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.