| REGISTERED NUMBER: |
| Strategic Report, Report of the Directors and |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| Allensmore Nurseries Limited |
| REGISTERED NUMBER: |
| Strategic Report, Report of the Directors and |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| Allensmore Nurseries Limited |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Contents of the Financial Statements |
| for the year ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 6 |
| Profit and Loss Account | 9 |
| Balance Sheet | 10 |
| Statement of Changes in Equity | 12 |
| Cash Flow Statement | 13 |
| Notes to the Cash Flow Statement | 14 |
| Notes to the Financial Statements | 16 |
| Allensmore Nurseries Limited |
| Company Information |
| for the year ended 30 September 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Senior statutory auditor: |
| Auditors: |
| Statutory Auditor |
| Certified Accountants |
| Unit 2 Foley Works |
| Foley Industrial Estate |
| Hereford |
| Herefordshire |
| HR1 2SF |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Strategic Report |
| for the year ended 30 September 2024 |
| The directors present their strategic report for the year ended 30 September 2024. |
| Review of business |
| The directors were pleased to achieve another high annual turnover of £24.7m with a strong performance across all customers and market sectors. Sales demand continued to be high due to a strong offering of high quality own grown plants supplemented with stock from specialist growers. |
| The gross profit margin was squeezed by increased labour costs brought about by above inflation increase in the NLW and higher agency worker costs. Agency workers are being firmly controlled and monitored closely, but we are concerned about the effect of another above inflation increase in the NLW together with the increase in employers NICs. It seems likely that the gross profit margin will be reduced again in 2025. |
| All this said, the Directors retain a positive trading outlook and continue to invest, develop and diversify their home grown plants lines, knowing that this will help increase sales markets and profit margins together with a tighter control of labour costs. |
| Over £1.88m has been spent on capital investment in 24/25 including, the first of four phases in the investment at our new 71 acre Madley Green nursery. This site will create a sustainable and environmentally friendly nursery, from which we are building our new plant ranges. The first phase saw the development of a 40,000m3 reservoir, infrastructure, roadways and plant beds together with ancillary services. |
| A 120kW ground mounted PV system was installed at the Madley site, generating electricity for greenhouses, offices and loading area. |
| The company has invested heavily in rose production and building up the new "Perfect" rose range and we are delighted to say that we have sold significant numbers in 23/24, all grown peat free and in the UK. Over the last 3 years, we have conducted extensive peat free trials and, as a result, with the improvements in commercial peat free media and the experience we gained with commercial production, we have made the decision to grow peat free. So, from the autumn of 2024, all of our potting and production media will not contain peat. |
| The company has remained focussed on growing the best quality plants possible and has invested heavily in its infrastructure to allow for this. In addition to having excellent facilities, the company recognises that it is essential to have the very best growers in order to produce outstanding quality plants, therefore last year, we also invested in our technical team and in new apprentices. |
| The Directors are pleased to present a strong trading account balance sheet and cashflow for the year and are excited about 2025. |
| The business uses the following Key Performance Indicators to measure performance: |
| - Detailed monthly and year to date management accounts monitoring trading, balance sheet and cash flow against budgets and prior years |
| - Monthly monitoring of sales margins by product and customer |
| - Wages, distribution costs and overheads compared to budget and as percentage of sales |
| - Debtors are continually monitored and debtor days measured |
| - We measure credit notes as a percentage of sales |
| - We measure waste as a percentage of sales and stock values, and compare with prior years. |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Strategic Report |
| for the year ended 30 September 2024 |
| Principal risks and uncertainties |
| The directors aim to minimise risk and uncertainty through good business and financial management. Key actions include: |
| - Fixing buying and selling prices in advance |
| - Continually reviewing and proactively managing our foreign currency risks. We agree exchange rates assumptions with customers in advance, and forward buy a significant proportion of our requirements |
| - We insure all our sales through a bad debt protection policy where available |
| - We agree payment terms with customers and suppliers |
| - We employ sensible credit control procedures to ensure good cash flow and avoid bad debts |
| - We prudently insure assets and appropriate business risks |
| - We endeavour to recruit, retain, train and develop staff to broaden and strengthen our team |
| - We actively engage in research and development to expand our product range and continually improve the quality of the plants on offer to existing and new customers. |
| On behalf of the board: |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Report of the Directors |
| for the year ended 30 September 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
| Principal activity |
| The principal activity of the company in the year under review was that of wholesale growers and distributors of bedding, hardy nursery and added value plants. The directors do not plan to change these activities in the foreseeable future. |
| Dividends |
| Dividends of £174,528 (2023 - £274,528) were paid in the year. |
| Research and development |
| The company continues to develop new strains of plants and new methods of growing them. In addition, projects for 2024 included enhanced rose cultivation and peat free growing media. |
| Future developments |
| The company continues to focus on gaining efficiencies to capitalise on our investments, is actively engaged in research and development, and will continue to invest in improved production facilities. |
| Directors |
| The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
| Other changes in directors holding office are as follows: |
| Statement of directors' responsibilities |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| Statement as to disclosure of information to auditors |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Report of the Directors |
| for the year ended 30 September 2024 |
| Auditors |
| The auditors, Acre Accountancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| On behalf of the board: |
| Report of the Independent Auditors to the Members of |
| Allensmore Nurseries Limited |
| Opinion |
| We have audited the financial statements of Allensmore Nurseries Limited (the 'company') for the year ended 30 September 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| Allensmore Nurseries Limited |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| We enquired with management about the legal framework that the company operates in. We also enquired about the risk of fraud and whether they were aware of any instances of fraud. |
| We communicated the outcome of this risk assessment with the audit team and planned our audit work accordingly. Our work in these areas is limited to analytical procedures and inspection of relevant documentation. Where a breach of operational regulations is not disclosed to us, or it is not evident from documentation that we receive during the audit, an audit will not detect that breach. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Report of the Independent Auditors to the Members of |
| Allensmore Nurseries Limited |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditor |
| Certified Accountants |
| Unit 2 Foley Works |
| Foley Industrial Estate |
| Hereford |
| Herefordshire |
| HR1 2SF |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Profit and Loss Account |
| for the year ended 30 September 2024 |
| 30/9/24 | 30/9/23 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Distribution costs | ( |
) | ( |
) |
| General administration costs | ( |
) | ( |
) |
| 1,690,678 | 2,125,362 |
| Other operating income |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| 1,987,767 | 2,356,780 |
| Interest payable and similar expenses | 6 | ( |
) | ( |
) |
| PROFIT BEFORE TAXATION |
| Tax on profit | 7 | ( |
) | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Balance Sheet |
| 30 September 2024 |
| 30/9/24 | 30/9/23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| CURRENT ASSETS |
| Stocks | 10 |
| Debtors | 11 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 12 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 13 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 17 | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | 18 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 19 |
| Capital redemption reserve | 20 |
| Retained earnings | 20 |
| SHAREHOLDERS' FUNDS |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Balance Sheet - continued |
| 30 September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Statement of Changes in Equity |
| for the year ended 30 September 2024 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 October 2022 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2023 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2024 |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Cash Flow Statement |
| for the year ended 30 September 2024 |
| 30/9/24 | 30/9/23 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) | ( |
) |
| Interest element of hire purchase payments paid | ( |
) |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Interest received |
| Net cash from investing activities | ( |
) | ( |
) |
| Cash flows from financing activities |
| Loan repayments in year | ( |
) | ( |
) |
| New hire purchase agreements in year | 62,678 | - |
| Capital repayments in year | ( |
) |
| Amount introduced by directors | 120,000 | 220,000 |
| Amount withdrawn by directors | (220,000 | ) | (179,200 | ) |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| (Decrease)/increase in cash and cash equivalents | ( |
) |
| Cash and cash equivalents at beginning of year |
2 |
2,377,948 |
| Cash and cash equivalents at end of year | 2 | 3,058,068 | 3,349,690 |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Cash Flow Statement |
| for the year ended 30 September 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Finance costs | 22,300 | 101,770 |
| Finance income | (36,262 | ) | (6,226 | ) |
| 2,921,748 | 3,284,943 |
| (Increase)/decrease in stocks | ( |
) |
| (Increase)/decrease in trade and other debtors | ( |
) |
| Increase/(decrease) in trade and other creditors | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 30 September 2024 |
| 30.9.24 | 1.10.23 |
| £ | £ |
| Cash and cash equivalents | 3,058,068 | 3,349,690 |
| Year ended 30 September 2023 |
| 30.9.23 | 1.10.22 |
| £ | £ |
| Cash and cash equivalents | 3,349,690 | 2,377,948 |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Cash Flow Statement |
| for the year ended 30 September 2024 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.10.23 | Cash flow | At 30.9.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 3,349,690 | (291,622 | ) | 3,058,068 |
| 3,349,690 | ( |
) | 3,058,068 |
| Debt |
| Finance leases | - | (34,276 | ) | (34,276 | ) |
| Debts falling due within 1 year | (101,783 | ) | 101,783 | - |
| Debts falling due after 1 year | (238,452 | ) | 238,452 | - |
| (340,235 | ) | 305,959 | (34,276 | ) |
| Total | 3,009,455 | 14,337 | 3,023,792 |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements |
| for the year ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Allensmore Nurseries Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. |
| Tangible fixed assets |
| Freehold property | - |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 3. | 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the depreciation policy for that class of asset. Future instalments under such leases, net of finance charges, are included within creditors. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 30/9/24 | 30/9/23 |
| Permanent production staff | 104 | 101 |
| Administrative staff | 27 | 28 |
| Other staff | 53 | 52 |
| Wages and salary costs include agency labour costs whereas employee numbers represent direct employees only. |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 4. | EMPLOYEES AND DIRECTORS - continued |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| The directors are considered to be the only Key Management Personnel. |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Hire of plant and machinery |
| Other operating leases |
| Depreciation - owned assets |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Auditors' remuneration |
| Foreign exchange differences |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Bank interest |
| Hire purchase |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) |
| Tax on profit |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 7. | TAXATION - continued |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of |
| Effects of: |
| Expenses not deductible for tax purposes |
| Adjustment for effective rate of corporation tax | - | (67,465 | ) |
| Enhanced taxation deduction arising from R&D expenditure | (66,298 | ) | (41,764 | ) |
| Deferred tax rate adjustment | - | (1,735 | ) |
| Effect of super deduction | - | (8,435 | ) |
| Effect of depreciation on ineligible assets | 7,266 | - |
| Total tax charge | 435,854 | 451,793 |
| 8. | DIVIDENDS |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Ordinary shares of £1 each |
| Final |
| Interim |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 9. | TANGIBLE FIXED ASSETS |
| Freehold | Short | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| Cost |
| At 1 October 2023 |
| Additions |
| Disposals | ( |
) |
| At 30 September 2024 |
| Depreciation |
| At 1 October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 September 2024 |
| Net book value |
| At 30 September 2024 |
| At 30 September 2023 |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 October 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 September 2024 |
| Depreciation |
| At 1 October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 September 2024 |
| Net book value |
| At 30 September 2024 |
| At 30 September 2023 |
| Tangible fixed assets are used as security against the company's borrowings. |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 10. | STOCKS |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Stocks |
| The company's stocks are used as security against the company's borrowings. |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Trade debtors |
| VAT |
| Prepayments and accrued income |
| The trade debtors are provided as security for the company's borrowing under a confidential invoice discounting facility. |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Bank loans and overdrafts (see note 14) |
| Hire purchase contracts (see note 15) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Directors' current accounts | 120,000 | 220,000 |
| Accruals and deferred income |
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Bank loans (see note 14) |
| Hire purchase contracts (see note 15) |
| 14. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 14. | LOANS - continued |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 15. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 16. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 34,276 | - |
| In addition to holding security over the company's assets, the company's bankers also hold a charge over a freehold property that is occupied by the company but that is owned by Mr B J Taylor (deceased) and Mrs R L Taylor. |
| 17. | PROVISIONS FOR LIABILITIES |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Deferred tax - accelerated capital allowances in excess of taxation losses |
767,727 |
672,606 |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 17. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2023 |
| Accelerated capital allowances | 95,121 |
| Balance at 30 September 2024 |
| 18. | ACCRUALS AND DEFERRED INCOME |
| 2024 | 2023 |
| £ | £ |
| Government grants | 126,172 | 151,437 |
| A further balance of £25,265 (2023: £25,265) for Government grants is included in creditors due within 1 year. |
| 19. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/9/24 | 30/9/23 |
| value: | £ | £ |
| Ordinary | £1 | 40,000 | 40,000 |
| 20. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 7,662,833 |
| Profit for the year | - |
| Dividends | ( |
) | - | ( |
) |
| At 30 September 2024 | 9,017,918 |
| 21. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. |
| The pension cost charge represents contribution payable by the company to the fund. |
| Contributions totalling £14,765 (2023 - £15,158) were payable to the fund at 30 September 2024. |
| Allensmore Nurseries Limited (Registered number: 02202142) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 22. | CAPITAL COMMITMENTS |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 23. | RELATED PARTY DISCLOSURES |
| All of the director shareholders held a current account with the company. |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Rent | 30,000 | 30,000 |
| Amounts due to related parties |
| 24. | ULTIMATE CONTROLLING PARTY |
| During the period, the company was under the control of the directors, who together own 100% of the issued share capital. |