Richard Grant & Son (Leverton) Limited 00369847 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of plant propagators Digita Accounts Production Advanced 6.30.9574.0 true 00369847 2024-01-01 2024-12-31 00369847 2024-12-31 00369847 bus:OrdinaryShareClass1 2024-12-31 00369847 bus:OrdinaryShareClass2 2024-12-31 00369847 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 00369847 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 00369847 core:CurrentFinancialInstruments 2024-12-31 00369847 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 00369847 core:Non-currentFinancialInstruments 2024-12-31 00369847 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 00369847 core:Goodwill 2024-12-31 00369847 core:FurnitureFittingsToolsEquipment 2024-12-31 00369847 core:LandBuildings 2024-12-31 00369847 core:MotorVehicles 2024-12-31 00369847 core:OtherPropertyPlantEquipment 2024-12-31 00369847 bus:SmallEntities 2024-01-01 2024-12-31 00369847 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 00369847 bus:FullAccounts 2024-01-01 2024-12-31 00369847 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00369847 bus:RegisteredOffice 2024-01-01 2024-12-31 00369847 bus:Director2 2024-01-01 2024-12-31 00369847 bus:Director3 2024-01-01 2024-12-31 00369847 bus:Director4 2024-01-01 2024-12-31 00369847 bus:Director6 2024-01-01 2024-12-31 00369847 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 00369847 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 00369847 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00369847 bus:Agent1 2024-01-01 2024-12-31 00369847 core:Goodwill 2024-01-01 2024-12-31 00369847 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 00369847 core:FurnitureFittings 2024-01-01 2024-12-31 00369847 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 00369847 core:LandBuildings 2024-01-01 2024-12-31 00369847 core:MotorVehicles 2024-01-01 2024-12-31 00369847 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 00369847 core:PlantMachinery 2024-01-01 2024-12-31 00369847 countries:AllCountries 2024-01-01 2024-12-31 00369847 2023-12-31 00369847 core:Goodwill 2023-12-31 00369847 core:FurnitureFittingsToolsEquipment 2023-12-31 00369847 core:LandBuildings 2023-12-31 00369847 core:MotorVehicles 2023-12-31 00369847 core:OtherPropertyPlantEquipment 2023-12-31 00369847 2023-01-01 2023-12-31 00369847 2023-12-31 00369847 bus:OrdinaryShareClass1 2023-12-31 00369847 bus:OrdinaryShareClass2 2023-12-31 00369847 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 00369847 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 00369847 core:CurrentFinancialInstruments 2023-12-31 00369847 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00369847 core:Non-currentFinancialInstruments 2023-12-31 00369847 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 00369847 core:Goodwill 2023-12-31 00369847 core:FurnitureFittingsToolsEquipment 2023-12-31 00369847 core:LandBuildings 2023-12-31 00369847 core:MotorVehicles 2023-12-31 00369847 core:OtherPropertyPlantEquipment 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00369847

Richard Grant & Son (Leverton) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Richard Grant & Son (Leverton) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Richard Grant & Son (Leverton) Limited

Company Information

Directors

S J Grant

S L Payne

K S Hardwick

M J Payne

Registered office

Sheepgate Nursery
Leverton
Boston
Lincolnshire
PE22 0AS

Bankers

HSBC
7 High Street
Boston
PE21 8SL

 

Richard Grant & Son (Leverton) Limited

(Registration number: 00369847)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,410

3,509

Tangible assets

5

1,406,778

1,396,603

 

1,408,188

1,400,112

Current assets

 

Stocks

6

300,635

305,764

Debtors

7

401,183

240,306

Cash at bank and in hand

 

2,697

41,219

 

704,515

587,289

Creditors: Amounts falling due within one year

8

(225,716)

(113,758)

Net current assets

 

478,799

473,531

Total assets less current liabilities

 

1,886,987

1,873,643

Creditors: Amounts falling due after more than one year

8

(299,380)

(290,800)

Net assets

 

1,587,607

1,582,843

Capital and reserves

 

Called up share capital

9

9,148

9,148

Non distributable profit and loss reserve

799,016

799,016

Retained earnings

779,443

774,679

Shareholders' funds

 

1,587,607

1,582,843

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Richard Grant & Son (Leverton) Limited

(Registration number: 00369847)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
M J Payne
Director

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 00369847.

The address of its registered office is:
Sheepgate Nursery
Leverton
Boston
Lincolnshire
PE22 0AS

These financial statements were authorised for issue by the Board on 22 May 2025.

These financial statements cover the individual entity Richard Grant & Son (Leverton) Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling which is the functional currency of the Company and have been expressed rounded to the nearest pound.

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class

Depreciation method and rate

Land and buildings

Nil - 5% per annum of cost

Fixtures and fittings

15 - 25% reducing balance

Motor vehicles

25% - 30% reducing balance

Plant and machinery

10% - 15% reducing balance, 5% - 33% of cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website costs

25% per annum of cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 16 (2023 - 17).

4

Intangible assets

Website costs
£

Total
£

Cost or valuation

At 1 January 2024

8,863

8,863

At 31 December 2024

8,863

8,863

Amortisation

At 1 January 2024

5,354

5,354

Amortisation charge

2,099

2,099

At 31 December 2024

7,453

7,453

Carrying amount

At 31 December 2024

1,410

1,410

At 31 December 2023

3,509

3,509

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

2,023,247

193,436

169,472

3,381,267

5,767,422

Additions

31,719

-

20,750

14,223

66,692

Disposals

-

(112,775)

(98,139)

(109,221)

(320,135)

At 31 December 2024

2,054,966

80,661

92,083

3,286,269

5,513,979

Depreciation

At 1 January 2024

835,586

188,154

156,424

3,190,655

4,370,819

Charge for the year

6,666

1,181

1,683

31,305

40,835

Eliminated on disposal

-

(112,304)

(86,975)

(105,174)

(304,453)

At 31 December 2024

842,252

77,031

71,132

3,116,786

4,107,201

Carrying amount

At 31 December 2024

1,212,714

3,630

20,951

169,483

1,406,778

At 31 December 2023

1,187,661

5,282

13,048

190,612

1,396,603

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

68,800

77,778

Finished goods and goods for resale

70,373

64,518

Other inventories

161,462

163,468

300,635

305,764

7

Debtors

Current

2024
£

2023
£

Trade debtors

245,737

90,112

Prepayments

10,391

12,834

Other debtors

145,055

137,360

 

401,183

240,306

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

166,049

5,811

Trade creditors

 

19,811

70,404

Taxation and social security

 

11,349

17,183

Other creditors

 

9,822

3,494

Accruals and deferred income

 

18,685

16,866

 

225,716

113,758

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

299,380

290,800

 

Richard Grant & Son (Leverton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

1,000

1,000

1,000

1,000

Ordinary B of £1 each

8,148

8,148

8,148

8,148

 

9,148

9,148

9,148

9,148

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

282,544

290,800

Hire purchase contracts

16,836

-

299,380

290,800

Bank borrowings of £282,544 (2023: £290,800) are secured upon the assets of the company.

Hire purchase of £16,386 (2023: nil) are secured upon the assets acquired.

2024
£

2023
£

Current loans and borrowings

Bank borrowings

7,033

5,811

Bank overdrafts

155,545

-

Hire purchase contracts

3,471

-

Other borrowings

5,400

400

171,449

6,211

Bank borrowings of £7,033 (2023: £5,811) are secured on the assets of the company.

Hire purchase of £3,471 (2023: nil) are secured on the assets acquired.