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REGISTERED NUMBER: 05367225 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GROWING BEDS RECYCLING SERVICES LIMITED

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROWING BEDS RECYCLING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 August 2024







DIRECTORS: M A Evans
Mrs I M Wootton Evans





SECRETARY: Mrs I M Wootton Evans





REGISTERED OFFICE: Ravensden House
Wood End
Ravensden
Bedford
MK44 2SR





REGISTERED NUMBER: 05367225 (England and Wales)





ACCOUNTANTS: GB Accounting Solutions Limited
Building 115
Bedford Technology Park
Thurleigh
Bedford
Bedfordshire
MK44 2YA

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

BALANCE SHEET
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,448,563 2,269,994

CURRENT ASSETS
Stocks 142,720 93,267
Debtors 5 773,858 489,175
Cash at bank 50,358 232,140
966,936 814,582
CREDITORS
Amounts falling due within one year 6 (717,688 ) (605,842 )
NET CURRENT ASSETS 249,248 208,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,697,811

2,478,734

CREDITORS
Amounts falling due after more than one year 7 (1,019,046 ) (816,293 )

PROVISIONS FOR LIABILITIES (313,227 ) (323,522 )
NET ASSETS 2,365,538 1,338,919

CAPITAL AND RESERVES
Called up share capital 40 40
Revaluation reserve 9 853,831 -
Retained earnings 9 1,511,667 1,338,879
SHAREHOLDERS' FUNDS 2,365,538 1,338,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

BALANCE SHEET - continued
31 August 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 10 March 2025 and were signed on its behalf by:




M A Evans - Director



Mrs I M Wootton Evans - Director


GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2024


1. STATUTORY INFORMATION

Growing Beds Recycling Services 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% on cost and 10% on cost

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.

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 567,245 2,449,057 3,016,302
Additions 84,528 985,273 1,069,801
Disposals - (707,901 ) (707,901 )
Revaluations 853,831 - 853,831
Reclassification/transfer 712,596 (712,596 ) -
At 31 August 2024 2,218,200 2,013,833 4,232,033
DEPRECIATION
At 1 September 2023 - 746,308 746,308
Charge for year - 180,732 180,732
Eliminated on disposal - (143,570 ) (143,570 )
Reclassification/transfer 418,200 (418,200 ) -
At 31 August 2024 418,200 365,270 783,470
NET BOOK VALUE
At 31 August 2024 1,800,000 1,648,563 3,448,563
At 31 August 2023 567,245 1,702,749 2,269,994

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 August 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 853,831 - 853,831
Cost 1,364,369 2,013,833 3,378,202
2,218,200 2,013,833 4,232,033

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 1,364,369 -

Freehold land and buildings were valued on an open market basis on 5 March 2024 by Fisher German LLP .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 September 2023 1,206,800
Additions 973,650
Disposals (704,401 )
At 31 August 2024 1,476,049
DEPRECIATION
At 1 September 2023 364,439
Charge for year 161,070
Eliminated on disposal (140,070 )
Reclassification/transfer (156,914 )
At 31 August 2024 228,525
NET BOOK VALUE
At 31 August 2024 1,247,524
At 31 August 2023 842,361

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 448,735 346,451
Amounts owed by group undertakings 4,909 4,909
Other debtors 320,214 137,815
773,858 489,175

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 155,802 134,059
Hire purchase contracts 295,524 223,969
Trade creditors 142,545 161,532
Taxation and social security 109,651 73,332
Other creditors 14,166 12,950
717,688 605,842

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 291,781 118,213
Hire purchase contracts 727,265 698,080
1,019,046 816,293

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 383,216 251,861
Hire purchase contracts 1,022,789 922,049
1,406,005 1,173,910

Bank loans are secured by a first legal mortgage charge over the company's present and future freehold and leasehold properties (if any) and an unscheduled debenture incorporating a fixed and floating charge over all current and future assets of the company.

Hire purchase loans are secured over the assets of the loans.

GROWING BEDS RECYCLING SERVICES LIMITED (REGISTERED NUMBER: 05367225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2024


9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 September 2023 1,338,879 - 1,338,879
Profit for the year 252,788 252,788
Dividends (80,000 ) (80,000 )
Revaluation reserve - 853,831 853,831
At 31 August 2024 1,511,667 853,831 2,365,498

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
M A Evans and Mrs I M Wootton Evans
Balance outstanding at start of year 126,293 -
Amounts advanced 123,373 126,293
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 249,666 126,293

The loan to the directors will be repaid by 30th June 2025.