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Registered number: 14182452
Paloma Forrest Nurseries Ltd
Unaudited Financial Statements
For the Period 1 July 2023 to 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14182452
31 December 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,503 8,593
8,503 8,593
CURRENT ASSETS
Stocks 5 7,500 5,000
Debtors 6 3,544 -
Cash at bank and in hand 10,682 37,056
21,726 42,056
Creditors: Amounts Falling Due Within One Year 7 (21,843 ) (26,544 )
NET CURRENT ASSETS (LIABILITIES) (117 ) 15,512
TOTAL ASSETS LESS CURRENT LIABILITIES 8,386 24,105
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,616 ) (1,633 )
NET ASSETS 6,770 22,472
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 6,769 22,471
SHAREHOLDERS' FUNDS 6,770 22,472
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For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R R Forrester
Director
21 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Paloma Forrest Nurseries Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14182452 . The registered office is Holly Farm Ormskirk Old Road, Bickerstaffe, Ormskirk, L39 0HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery 25% RB
Fixtures and fittings 20% RB
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2023: 1)
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4. Tangible Assets
Plant and machinery Fixtures and fittings Total
£ £ £
Cost
As at 1 July 2023 6,480 4,666 11,146
Additions 4,301 235 4,536
As at 31 December 2024 10,781 4,901 15,682
Depreciation
As at 1 July 2023 1,620 933 2,553
Provided during the period 3,436 1,190 4,626
As at 31 December 2024 5,056 2,123 7,179
Net Book Value
As at 31 December 2024 5,725 2,778 8,503
As at 1 July 2023 4,860 3,733 8,593
5. Stocks
31 December 2024 30 June 2023
£ £
Stock 7,500 5,000
6. Debtors
31 December 2024 30 June 2023
£ £
Due within one year
Trade debtors 96 -
Corporation tax recoverable assets 3,448 -
3,544 -
7. Creditors: Amounts Falling Due Within One Year
31 December 2024 30 June 2023
£ £
Trade creditors - 3,163
Corporation tax - 3,985
VAT 2,043 -
Accruals and deferred income 1,940 1,600
Director's loan account 17,860 17,796
21,843 26,544
8. Share Capital
31 December 2024 30 June 2023
£ £
Allotted, Called up and fully paid 1 1
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9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2024 30 June 2023
£ £
Not later than one year 24,000 24,000
Later than one year and not later than five years 48,000 72,000
72,000 96,000
10. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
11. Related Party Transactions
The following related party transactions were undertaken during the year:
The director withdrew amounts totalling £21,916 (2023: £1,684) and introduced amounts totalling £21,981 (2023: £19,167). At the balance sheet date the amount payable to the director was £17,860 (2023: £17,484).
Dividends were paid to the director in respect of his shareholdings totalling £1,000 (2023: £2,000).
The aggregate remuneration paid to key management personnel for the period was £14,513 (2023: £13,231).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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