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REGISTERED NUMBER: 01417996 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Tamar Nurseries Limited

Tamar Nurseries Limited (Registered number: 01417996)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Tamar Nurseries Limited (Registered number: 01417996)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £ £
Fixed assets
Tangible assets 4 1,306,400 3,456,311
Investments 5 3,001 3,001
Investment property 6 300,000 -
1,609,401 3,459,312

Current assets
Stocks 742,625 532,422
Debtors 7 771,599 620,264
Cash at bank and in hand 1,895 40,476
1,516,119 1,193,162
Creditors
Amounts falling due within one year 8 (845,386 ) (866,933 )
Net current assets 670,733 326,229
Total assets less current liabilities 2,280,134 3,785,541

Creditors
Amounts falling due after more than one
year

9

(499,661

)

(960,169

)

Provisions for liabilities (25,369 ) (186,187 )
Net assets 1,755,104 2,639,185

Tamar Nurseries Limited (Registered number: 01417996)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £ £
Capital and reserves
Called up share capital 15,000 15,000
Revaluation reserve 11 - 793,966
Capital redemption reserve 90,000 90,000
Retained earnings 1,650,104 1,740,219
1,755,104 2,639,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 26 March 2025 and were signed on its behalf by:





Mr J Lawrence - Director


Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 25% p.a. reducing balance
Fixtures and fittings - 25% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance
Computer equipment - 25% p.a. reducing balance

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.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. Accounting policies - continued
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.

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.

Investments
Fixed asset investments are initially recorded at cost,and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. the cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. Employees and directors

The average number of employees during the year was 27 (2023 - 29 ) .

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Cost or valuation
At 1 July 2023 2,907,384 1,314,259 51,208
Additions 268,366 115,564 -
Disposals (1,233,469 ) (477,428 ) -
Revaluations (1,286,639 ) - -
Reclassification 374,358 (601,319 ) -
At 30 June 2024 1,030,000 351,076 51,208
Depreciation
At 1 July 2023 293,907 576,221 51,176
Charge for year - 86,194 25
Eliminated on disposal (293,907 ) (424,021 ) -
Revaluation adjustments (85,519 ) - -
Reclassification 85,519 (85,519 ) -
At 30 June 2024 - 152,875 51,201
Net book value
At 30 June 2024 1,030,000 198,201 7
At 30 June 2023 2,613,477 738,038 32

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£ £ £
Cost or valuation
At 1 July 2023 176,160 49,326 4,498,337
Additions - - 383,930
Disposals - - (1,710,897 )
Revaluations - - (1,286,639 )
Reclassification - - (226,961 )
At 30 June 2024 176,160 49,326 1,657,770
Depreciation
At 1 July 2023 71,937 48,785 1,042,026
Charge for year 26,048 524 112,791
Eliminated on disposal - - (717,928 )
Revaluation adjustments - - (85,519 )
Reclassification - - -
At 30 June 2024 97,985 49,309 351,370
Net book value
At 30 June 2024 78,175 17 1,306,400
At 30 June 2023 104,223 541 3,456,311

Freehold property was valued on an open market basis by Maxey Grounds on 26 November 2024. The valuation was prepared in accordance with the requirements of RICS Valuations - Global Standards 2022.

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Valuation in 2024 (1,201,120 ) - -
Cost 2,231,120 351,076 51,208
1,030,000 351,076 51,208

Motor Computer
vehicles equipment Totals
£ £ £
Valuation in 2024 - - (1,201,120 )
Cost 176,160 49,326 2,858,890
176,160 49,326 1,657,770

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. Fixed asset investments
Other
investments
£
Cost
At 1 July 2023
and 30 June 2024 3,001
Net book value
At 30 June 2024 3,001
At 30 June 2023 3,001

The investment relates to shares held in an unquoted company.

6. Investment property
Total
£
Fair value
Revaluations 73,039
Reclassification/transfer 226,961
At 30 June 2024 300,000
Net book value
At 30 June 2024 300,000

Fair value at 30 June 2024 is represented by:
£
Valuation in 2024 73,039
Cost 226,961
300,000

Investment property is held at market value as determined by the directors at the balance sheet date.

7. Debtors: amounts falling due within one year
30.6.24 30.6.23
£ £
Trade debtors 771,599 570,134
Other debtors - 50,130
771,599 620,264

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. Creditors: amounts falling due within one year
30.6.24 30.6.23
£ £
Bank loans and overdrafts 117,834 86,000
Hire purchase contracts 39,137 26,215
Trade creditors 540,269 642,958
Taxation and social security 144,329 99,961
Other creditors 3,817 11,799
845,386 866,933

9. Creditors: amounts falling due after more than one year
30.6.24 30.6.23
£ £
Bank loans 404,582 874,561
Hire purchase contracts 95,079 85,608
499,661 960,169

10. Secured debts

The following secured debts are included within creditors:

30.6.24 30.6.23
£ £
Bank overdraft 39,784 -
Bank loans 482,632 960,561
522,416 960,561

11. Reserves
Revaluation
reserve
£
At 1 July 2023 793,966
Revaluation of property (793,966 )

At 30 June 2024 -

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


12. Related party disclosures

The company was under the control of Mr J D Huibers throughout the previous year and until 23 May 2024. Mr J D Huibers wass the managing director and majority shareholder.

From 23 May 2024 the company was under the control of Tamar Holdings 2024 Limited. Mr K Lawrence and Mr J Lawrence are equal shareholders and directors of this company. They are also directors of Tamar Nurseries Limited.