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Registered number: 02397887
Greenacres Nurseries (Hockley) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Formulate Change Ltd T/A Osborne & Co
203 London Road
Hadleigh
Essex
SS7 2RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02397887
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 102,910 121,809
Investments 6 171 171
103,081 121,980
CURRENT ASSETS
Stocks 7 36,200 42,575
Debtors 8 13,601 5,143
Cash at bank and in hand 211,767 167,482
261,568 215,200
Creditors: Amounts Falling Due Within One Year 9 (156,398 ) (14,587 )
NET CURRENT ASSETS (LIABILITIES) 105,170 200,613
TOTAL ASSETS LESS CURRENT LIABILITIES 208,251 322,593
Creditors: Amounts Falling Due After More Than One Year 10 - (123,186 )
NET ASSETS 208,251 199,407
CAPITAL AND RESERVES
Called up share capital 11 40,500 40,500
Revaluation reserve 13 45,800 45,800
Profit and Loss Account 121,951 113,107
SHAREHOLDERS' FUNDS 208,251 199,407
Page 1
Page 2
For the year ending 30 June 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 Patrick Woods
Director
27/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Greenacres Nurseries (Hockley) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02397887 . The registered office is Greenacres, Folly Chase, Hockley, Essex, SS5 4SF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These disclosure requirements have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pound sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It has been amortised to profit and loss account over its estimated economic life.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any 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:
Leasehold 0%
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% reducing balance
2.5. Stocks and Work in Progress
Stocks  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. 
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 25,000
As at 30 June 2024 25,000
Amortisation
As at 1 July 2023 25,000
As at 30 June 2024 25,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 92,611 372,434 36,730 620 502,395
As at 30 June 2024 92,611 372,434 36,730 620 502,395
Depreciation
As at 1 July 2023 92,611 256,920 30,435 620 380,586
Provided during the period - 17,326 1,573 - 18,899
As at 30 June 2024 92,611 274,246 32,008 620 399,485
Net Book Value
As at 30 June 2024 - 98,188 4,722 - 102,910
As at 1 July 2023 - 115,514 6,295 - 121,809
Page 4
Page 5
6. Investments
Listed
£
Cost
As at 1 July 2023 171
As at 30 June 2024 171
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 171
As at 1 July 2023 171
7. Stocks
2024 2023
£ £
Stock 36,200 42,575
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,619 4,685
Other debtors 1,982 458
13,601 5,143
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,259 12,228
Other creditors 125,230 1,900
Taxation and social security 909 459
156,398 14,587
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 123,186
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 40,500 40,500
Page 5
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12. Financial Instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.
Financial Instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset,  with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
13. Reserves
Revaluation Reserve
£
As at 1 July 2023 45,800
As at 30 June 2024 45,800
14. Related Party Transactions
The company operates a Director’s Loan account with Patrick Woods. At the balance sheet date, the amount due to the director amounted to £123,880 (2023 £123,185)
The loan is interest free and repayable on demand
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