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Registration number: 1463636

Grange Farm Nurseries Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Grange Farm Nurseries Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Grange Farm Nurseries Limited

Company Information

Directors

Mrs C J Nicholls

R Nicholls

Registered office

Grange Farm Nursery
Guarlford
Malvern
Worcestershire
WR13 6NT

Accountants

Clement Rabjohns Limited
Chartered Accountants111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Grange Farm Nurseries Limited

(Registration number: 1463636)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

170,660

171,473

Current assets

 

Stocks

117,439

116,963

Debtors

5

12,139

8,763

Cash at bank and in hand

 

81,966

107,966

 

211,544

233,692

Creditors: Amounts falling due within one year

6

(97,600)

(97,864)

Net current assets

 

113,944

135,828

Net assets

 

284,604

307,301

Capital and reserves

 

Called up share capital

100

100

Retained earnings

284,504

307,201

Shareholders' funds

 

284,604

307,301

For the financial year ending 31 December 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 and 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 24 February 2025 and signed on its behalf by:
 

.........................................
Mrs C J Nicholls
Director

 

Grange Farm Nurseries Limited

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

1

General information

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

The address of its registered office is:
Grange Farm Nursery
Guarlford
Malvern
Worcestershire
WR13 6NT
United Kingdom

These financial statements were authorised for issue by the Board on 24 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.

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 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 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.

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.

 

Grange Farm Nurseries Limited

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

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

Freehold land

Not depreciated

Property improvements

10% straight line basis

Plant and machinery

12.5% straight line basis

Motor vehicles

20% straight line basis

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 - 9).

 

Grange Farm Nurseries Limited

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

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

171,052

35,690

33,580

240,322

Disposals

-

-

(13,250)

(13,250)

At 31 December 2024

171,052

35,690

20,330

227,072

Depreciation

At 1 January 2024

2,679

32,590

33,580

68,849

Charge for the year

297

516

-

813

Eliminated on disposal

-

-

(13,250)

(13,250)

At 31 December 2024

2,976

33,106

20,330

56,412

Carrying amount

At 31 December 2024

168,076

2,584

-

170,660

At 31 December 2023

168,373

3,100

-

171,473

Included within the net book value of land and buildings above is £168,075 (2023 - £168,373) in respect of freehold land and tenant improvements.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

9,608

628

Prepayments

2,366

4,203

Other debtors

165

3,932

 

12,139

8,763

 

Grange Farm Nurseries Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

9,681

10,415

Taxation and social security

5,146

16,043

Accruals and deferred income

5,912

5,894

Other creditors

76,861

65,512

97,600

97,864