REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
AMENITY HORTICULTURAL SERVICES LTD |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
AMENITY HORTICULTURAL SERVICES LTD |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 |
Report of the Independent Auditors | 4 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 15 |
AMENITY HORTICULTURAL SERVICES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
7 Lower Brook Street |
Oswestry |
Shropshire |
SY11 2HG |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30 APRIL 2024 |
The director presents his strategic report for the year ended 30 April 2024. |
REVIEW OF BUSINESS |
The company specialises in the supply of soft and hard landscaping products nationwide into a variety of market sectors. |
This financial year has proved to be another successful year in terms of revenue, with an increase of 13.85% on the previous year. |
2023 £15,036,902 |
2024 £17,119,621 |
The continued development of the business into other market sectors has proved successful and has contributed to the overall increase in revenue. This has complemented our existing strategy meaning that we remain one of the market leaders in the supply of landscaping products. |
Our focus is on continuing to work cohesively with our existing customer base and use our teams' extensive product knowledge and expertise to ensure that a quality level of service is provided. |
The directors consider the key risks and uncertainties to the company achieving its growth targets as follows: |
- Economic prosperity and associated strength of the building market |
- General changes in the economic environment |
- Poor weather across the UK summer period |
- Availability of some raw materials |
Key risks to the business are discussed during management review meetings and appropriate strategies are put in place to mitigate their impact as far as possible. |
Management use revenue and gross profit as key performance indicators to monitor and manage the business on a daily, weekly and monthly basis with regards to financial performance. |
The business also monitors non-financial key performance indicators which include customer satisfaction, health and safety compliance, and sustainability. |
ON BEHALF OF THE BOARD: |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 30 APRIL 2024 |
The director presents his report with the financial statements of the company for the year ended 30 April 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the manufacture and supply of barks, composts and associated products to the amenity horticultural and landscaping industries. |
DIVIDENDS |
There was no distribution of dividends during the year end 30 April 2024. |
RESEARCH AND DEVELOPMENT |
Please see the accounting policies note for information regarding research and development costs. |
DIRECTOR |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AMENITY HORTICULTURAL SERVICES LTD |
Opinion |
We have audited the financial statements of Amenity Horticultural Services Ltd (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AMENITY HORTICULTURAL SERVICES LTD |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AMENITY HORTICULTURAL SERVICES LTD |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- we identified the laws and regulations applicable to the company through discussions with directors and other |
management, and from our commercial knowledge and experience of the client's operating sector; |
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation; |
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of |
management; and |
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to |
instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and |
- reviewing the client's system notes and internal controls. |
To address the risk of fraud through management bias and override of controls, we: |
- performed analytical procedures to identify any unusual or unexpected relationships; |
- tested journal entries to identify unusual transactions; |
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; |
- investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- agreeing financial statement disclosures to underlying supporting documentation; |
- reading the minutes of meetings of those charged with governance; |
- enquiring of management as to actual and potential litigation and claims; |
- reviewing correspondence with HMRC. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AMENITY HORTICULTURAL SERVICES LTD |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
7 Lower Brook Street |
Oswestry |
Shropshire |
SY11 2HG |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT | 6 |
Impairment of unlisted investm |
ents | 7 | ( |
) |
970,300 | 285,892 |
Amounts written off investments | 8 | - | (102,937 | ) |
970,300 | 182,955 |
Interest payable and similar expenses | 9 | ( |
) | ( |
) |
PROFIT BEFORE TAXATION |
Tax on profit | 10 | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 APRIL 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME |
Purchase of own shares | ( |
) |
Capital redemption reserve |
Income tax relating to components of other comprehensive income |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
( |
) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
Note |
Prior year adjustment | 12 | ( |
) |
TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT |
122,448 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
BALANCE SHEET |
30 APRIL 2024 |
30.4.24 | 30.4.23 | 1.5.22 |
as restated |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 13 |
Tangible assets | 14 |
Investments | 15 |
CURRENT ASSETS |
Stocks | 16 |
Debtors | 17 | 3,309,767 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 18 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
CREDITORS |
Amounts falling due after more than one year |
PROVISIONS FOR LIABILITIES | 23 |
CAPITAL AND RESERVES |
Called up share capital | 24 |
Capital redemption reserve | 25 |
Retained earnings | 25 |
SHAREHOLDERS' FUNDS |
2,272,641 | 2,216,234 | 2,802,417 |
The financial statements were approved by the director and authorised for issue on |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Issue of share capital | ( |
) | - | - | ( |
) |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 April 2023 |
Prior year adjustment | - | ( |
) | - | ( |
) |
As restated |
Changes in equity |
Total comprehensive income | - |
Balance at 30 April 2024 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) |
Interest paid | ( |
) | ( |
) |
Interest element of hire purchase payments paid |
( |
) |
( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Purchase of own shares | ( |
) |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
New loans |
Loan repayments in year | ( |
) |
Amount introduced by directors |
Equity dividends paid | ( |
) |
Net cash from financing activities | ( |
) |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
(112,308 |
) |
491,872 |
Cash and cash equivalents at end of year | 2 | 266,812 | ( |
) |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Profit before taxation |
Depreciation charges |
Loss/(profit) on disposal of fixed assets | ( |
) |
Impairment of unlisted investments |
Goodwill write off |
Finance costs |
1,122,766 | 432,226 |
Decrease/(increase) in stocks | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 April 2024 |
30.4.24 | 1.5.23 |
£ | £ |
Cash and cash equivalents | 266,812 | 5,721 |
Bank overdrafts | ( |
) |
266,812 | (112,308 | ) |
Year ended 30 April 2023 |
30.4.23 | 1.5.22 |
as restated |
£ | £ |
Cash and cash equivalents | 5,721 | 491,872 |
Bank overdrafts | ( |
) |
(112,308 | ) | 491,872 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.5.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank | 5,721 | 261,091 | 266,812 |
Bank overdrafts | (118,029 | ) | 118,029 | - |
(112,308 | ) | 266,812 |
Debt |
Finance leases | (45,585 | ) | (18,014 | ) | (63,599 | ) |
Debts falling due within 1 year | (251,635 | ) | (75,632 | ) | (327,267 | ) |
Debts falling due after 1 year | (1,871,903 | ) | 642,436 | (1,229,467 | ) |
(2,169,123 | ) | 548,790 | (1,620,333 | ) |
Total | (2,281,431 | ) | 927,910 | (1,353,521 | ) |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Amenity Horticultural Services Ltd is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in (£) sterling, rounded to the nearest £1. |
The accounts are for the individual entity only. |
Significant judgements and estimates |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. |
Included within trade creditors is a provision for credit notes to be received from suppliers. When assessing the provision required the company takes into consideration the unreconciled delivery notes, purchase orders and invoices currently in dispute on each supplier account. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income recognition |
For regular sales of bark and other horticultural products, income is recognised when the product is received by the customer. |
Goodwill |
Goodwill represents costs incurred in connection with the acquisition of businesses between the years 2006 and 2008. The assets are being amortised over their estimated useful economic lives. Impairment reviews are undertaken where necessary and any relevant adjustments are made within the annual accounts in which they occur. |
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. The assets are being amortised over their estimated useful economic lives of 8 years. |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Freehold property | - |
Improvements to Property | - |
Website development | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Freehold property is revalued by the directors at the end of each financial period with depreciation charged to write off the difference in values, down to its estimated realisable value. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs, and then subsequently measured at amortised cost. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the assets has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Basic financial liabilities, including creditors and loans, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 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. Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
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. |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Fixed asset investments |
Investments on the balance sheet are unlisted and are shown at cost or most recent valuation. |
Development costs |
Development costs relate to staff wages which have been capitalised. After the sale of the AHS Energy division the directors decided to explore other areas of the market to substitute the loss of income, including developing a new computer system, investigating new products to compliment the existing business activities and developing the web based section of the business. The estimated useful life is expected to be between 5 and 20 years. |
Preparation of consolidated financial statements |
The financial statements contain information about Amenity Horticultural Services Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
4. | EMPLOYEES AND DIRECTORS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30.4.24 | 30.4.23 |
as restated |
Administration | 6 | 7 |
Sales | 12 | 11 |
Production & distribution | 3 | 3 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | DIRECTORS' EMOLUMENTS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
6. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Hire of plant and machinery |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
Loss/(profit) on disposal of fixed assets | ( |
) |
Goodwill amortisation |
Development costs amortisation |
Auditors' remuneration |
Auditors' remuneration for non audit work |
7. | EXCEPTIONAL ITEMS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Exceptional items | ( |
) |
Impairment of unlisted investm |
ents | ( |
) |
(3,936 | ) | (725,601 | ) |
8. | AMOUNTS WRITTEN OFF INVESTMENTS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Amounts w/o goodwill |
9. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Loan interest |
Other Interest |
Hire purchase interest |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
10. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Depreciation in excess of capital allowances |
Deferred tax charge | ( |
) |
Corporation tax rate movement | ( |
) |
Amount written off investments |
Directors bonus paid from Efrbs | ( |
) |
Total tax charge | 54,505 | 49,325 |
Tax effects relating to effects of other comprehensive income |
There were no tax effects for the year ended 30 April 2024. |
30.4.23 |
Gross | Tax | Net |
£ | £ | £ |
Purchase of own shares | ( |
) | - | (1,500,000 | ) |
Capital redemption reserve | - | 13,044 |
(1,486,956 | ) | - | (1,486,956 | ) |
11. | DIVIDENDS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Ordinary shares of £0.01 each |
Interim |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
12. | PRIOR YEAR ADJUSTMENT |
The accounts have been restated to incorporate the impact of a misclassification of a balance owed to a related party as a reduction in purchases, and therefore overstating profit for the previous financial year. The change has resulted in profits available for distribution at 30 April 2023 decreasing after tax by £584,159: |
Summary of the prior year accounting impact | £ |
Increase in creditors - amounts owed to related parties | 725,601 |
Decrease in creditors - corporation tax | (141,442 | ) |
584,159 |
13. | INTANGIBLE FIXED ASSETS |
Development |
Goodwill | costs | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
and 30 April 2024 |
AMORTISATION |
At 1 May 2023 |
Amortisation for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
14. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Website | Plant and |
property | Property | development | machinery |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
14. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Cost or valuation at 30 April 2024 is represented by: |
Improvements |
Freehold | to | Website | Plant and |
property | Property | development | machinery |
£ | £ | £ | £ |
Valuation in 2001 | 95,171 | - | - | - |
Valuation in 2004 | 174,552 | - | - | - |
Valuation in 2007 | 40,000 | - | - | - |
Valuation in 2014 | 60,000 | - | - | - |
Valuation in 2018 | (43,236 | ) | - | - | - |
Cost | 303,513 | 181,674 | 34,870 | 399,181 |
630,000 | 181,674 | 34,870 | 399,181 |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2001 | - | - | - | 95,171 |
Valuation in 2004 | - | - | - | 174,552 |
Valuation in 2007 | - | - | - | 40,000 |
Valuation in 2014 | - | - | - | 60,000 |
Valuation in 2018 | - | - | - | (43,236 | ) |
Cost | 169,327 | 135,576 | 222,273 | 1,446,414 |
169,327 | 135,576 | 222,273 | 1,772,901 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
14. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Cost | 303,513 | 303,513 |
Value of land in freehold land and buildings | 65,365 | 65,365 |
Freehold land and buildings were valued on an open market basis on 14 May 2018 by Nicholas CD Jones MRICS of Graves Jenkins . |
Plant and machinery with a carrying value of £39,545 (2023: £84,976) and motor vehicles with a carrying value of £54,936 (2023: £6,839) are held under hire purchase agreements. |
15. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST OR VALUATION |
At 1 May 2023 |
Impairments | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Cost or valuation at 30 April 2024 is represented by: |
Unlisted |
investments |
£ |
Valuation in 2008 | (3,936 | ) |
Cost | 4,022 |
86 |
On 23rd July 2024, the following companies filed a striking off application form:- |
Petdoo Limited |
Birdoo Limited |
Equidoo Limited |
Gardoo Limited |
In addition to this, a First Gazette Notice for company strike off has been issued for the below companies:- |
AHS Direct Ltd 07/01/2025 |
C R Black & Son Ltd 17/12/2024 |
AHS Recycling (Peterborough) Ltd 05/11/2024 |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
15. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
30.4.24 | 30.4.23 |
£ | £ |
Aggregate capital and reserves |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
30.4.24 |
£ | £ |
Aggregate capital and reserves |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
30.4.24 |
£ | £ |
Aggregate capital and reserves |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
30.4.24 | 30.4.23 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
15. | FIXED ASSET INVESTMENTS - continued |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
30.4.24 |
£ | £ |
Aggregate capital and reserves |
Registered office: Registered in United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
30.4.24 |
£ | £ |
Aggregate capital and reserves |
16. | STOCKS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Raw materials and finished goods |
17. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Trade debtors |
Amounts due from related |
parties |
Directors' current accounts |
Tax |
Prepayments |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
18. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank loans and overdrafts (see note 20) |
Other loans (see note 20) |
Hire purchase contracts (see note 21) |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Amounts due to related parties |
Accrued expenses |
19. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank loans (see note 20) |
Other loans (see note 20) |
Hire purchase contracts (see note 21) |
20. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | - |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Other loans comprise discounted loan notes issued by the company's Employer Funded Retirement Benefit Scheme. The balances outstanding at the year end were £NIL (2023: £239,538) |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
21. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Within one year |
Between one and five years |
22. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank overdraft |
Bank loans |
Hire purchase contracts |
Hire purchase liabilities are secured on the assets to which they relate. |
The above bank loans are secured by way of a legal charge dated 20 July 1995 and debenture dated 19 June 1995 over the company's freehold property. |
The company has given to its bankers a cross guarantee and debenture over C R Black and Son Ltd dated 5 February 2008. |
23. | PROVISIONS FOR LIABILITIES |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Deferred tax |
AMENITY HORTICULTURAL SERVICES LTD (REGISTERED NUMBER: 02803955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
23. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year |
Balance at 30 April 2024 |
24. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | as restated |
£ | £ |
Ordinary | £0.01 | 26,956 | 26,956 |
The Ordinary shares have full voting rights, are eligible for dividends and carry the right to participate in a distribution (including on winding up). |
25. | RESERVES |
Included in retained earnings is £326,479 (2023 - £326,479) of profits which are not available for distribution as they are unrealised gains on revaluations. |
26. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Mr AW Jenkinson owed the company £NIL at the year end (2023: £468,065 ). The company was charged interest of £NIL (2023: £26,667) in relation to the loan, which is included in the profit and loss account. |
During the year the directors voted dividends of £NIL from the company (2023: £150,000). |
27. | RELATED PARTY DISCLOSURES |
During the year the company made sales of £2,464 (2023: £3,754) and purchases of £7,700,951 (2023: £6,581,435. At the year end, the balance owed to related companies was £1,761,510. |
Key management personnel remuneration, including employer's national insurance and pension contributions totalled £227,256 (2023: £179,447). |
28. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr A W Jenkinson by virtue of his 100% shareholding of the company. |