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Registration number: 14223568

Old Sodbury Tree And Plant Nursery Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Old Sodbury Tree And Plant Nursery Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Old Sodbury Tree And Plant Nursery Ltd

(Registration number: 14223568)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

500

500

Tangible assets

5

23,070

5,994

 

23,570

6,494

Current assets

 

Stocks

6

89,586

64,250

Debtors

7

5,436

4,753

Cash at bank and in hand

 

64,407

35,869

 

159,429

104,872

Creditors: Amounts falling due within one year

8

(111,750)

(89,185)

Net current assets

 

47,679

15,687

Net assets

 

71,249

22,181

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

71,149

22,081

Shareholders' funds

 

71,249

22,181

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2025 and signed on its behalf by:
 

.........................................
C S Hodder
Director

 

Old Sodbury Tree And Plant Nursery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The company was formerly known as Landcare Tree Nursery Ltd.

The address of its registered office is:
The New House
Hawkesbury Grange
Hawkesbury Upton
Badminton
GL9 1EF

These financial statements were authorised for issue by the Board on 14 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Old Sodbury Tree And Plant Nursery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

10% straight line

Plant and machinery

25% straight line

Fixtures and fittings

25% straight line

Motor vehicles

25% straight line

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line after initial year of acquisition

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Old Sodbury Tree And Plant Nursery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Old Sodbury Tree And Plant Nursery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

500

500

At 31 October 2024

500

500

Amortisation

Carrying amount

At 31 October 2024

500

500

At 31 October 2023

500

500

 

Old Sodbury Tree And Plant Nursery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 November 2023

2,175

2,401

225

1,372

Additions

4,490

553

11,800

6,654

At 31 October 2024

6,665

2,954

12,025

8,026

Depreciation

At 1 November 2023

218

205

22

142

Charge for the year

544

739

3,006

2,007

At 31 October 2024

762

944

3,028

2,149

Carrying amount

At 31 October 2024

5,903

2,010

8,997

5,877

At 31 October 2023

1,957

2,196

203

1,230

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

500

6,673

Additions

-

23,497

At 31 October 2024

500

30,170

Depreciation

At 1 November 2023

92

679

Charge for the year

125

6,421

At 31 October 2024

217

7,100

Carrying amount

At 31 October 2024

283

23,070

At 31 October 2023

408

5,994

Included within the net book value of land and buildings above is £5,903 (2023 - £1,957) in respect of short leasehold land and buildings.
 

 

Old Sodbury Tree And Plant Nursery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

6

Stocks

2024
£

2023
£

Inventories

89,586

64,250

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,436

4,753

 

5,436

4,753

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

10,533

3,535

Taxation and social security

32,496

16,490

Accruals and deferred income

3,729

4,168

Other creditors

64,992

64,992

111,750

89,185

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Related party transactions

Other transactions with directors


At the balance sheet date the company owed the directors a balance in the sum of £64,992 (2023 - £64,992).