Registered number
03040459
Woodlark Nurseries Limited
Unaudited Filleted Accounts
31 December 2024
Woodlark Nurseries Limited
Registered number: 03040459
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 470,527 463,508
Investments 4 50 50
470,577 463,558
Current assets
Stocks 435,578 426,888
Debtors 5 572,994 586,678
Cash at bank and in hand 149,178 169,161
1,157,750 1,182,727
Creditors: amounts falling due within one year 6 (969,940) (926,440)
Net current assets 187,810 256,287
Total assets less current liabilities 658,387 719,845
Creditors: amounts falling due after more than one year 7 (300,486) (340,940)
Provisions for liabilities (81,050) (78,215)
Net assets 276,851 300,690
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 275,851 299,690
Shareholders' funds 276,851 300,690
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Edwards
Director
Approved by the board on 24 April 2025
Woodlark Nurseries Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of consideration received or receiveable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownerhip of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Plant & Machinery contains sub categories and these are depreciated as follows:
Plant and machinery 20% straight line
Office equipment 25% straight line
Fixtures and fittings 20% straight line
Glasshouses 10% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Debtors are measured at invoice price
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Deferred Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 52 45
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 57,000 2,262,283 271,036 2,590,319
Additions - 170,841 - 170,841
At 31 December 2024 57,000 2,433,124 271,036 2,761,160
Depreciation
At 1 January 2024 57,000 1,832,786 237,025 2,126,811
Charge for the year - 144,863 18,959 163,822
At 31 December 2024 57,000 1,977,649 255,984 2,290,633
Net book value
At 31 December 2024 - 455,475 15,052 470,527
At 31 December 2023 - 429,497 34,011 463,508
4 Investments
Other
investments
£
Cost
At 1 January 2024 50
At 31 December 2024 50
5 Debtors 2024 2023
£ £
Trade debtors 428,048 418,384
Corporation tax refund 7,236 -
Other debtors 137,710 168,294
572,994 586,678
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,430 75
Obligations under finance lease and hire purchase contracts 3,279 3,279
Trade creditors 453,329 425,147
Taxation and social security costs 120,499 92,762
Other creditors 386,403 405,177
969,940 926,440
7 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares 110,000 110,000
Bank loans 93,317 145,423
Obligations under finance lease and hire purchase contracts 97,169 85,517
300,486 340,940
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director 1
Current account (55,333) 19,600 (9,438) (45,171)
Director 2
Current account (15,787) 26,072 (21,684) (11,399)
(71,120) 45,672 (31,122) (56,570)
9 Other information
Woodlark Nurseries Limited is a private company limited by shares and incorporated in England. Its registered office is:
Burhill Road
Hersham
Walton on Thames
Surrey
KT12 4JD
10 Associated company
Woodlark Nurseries Retail Ltd is an associated company of Woodlark Nurseries Ltd
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