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REGISTERED NUMBER: 00451031 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 October 2024

for

Fresh Acres Nurseries Limited

Fresh Acres Nurseries Limited (Registered number: 00451031)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 14

Cash Flow Statement 15

Notes to the Cash Flow Statement 16

Notes to the Financial Statements 18


Fresh Acres Nurseries Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr M J Carroll
Mrs S M Lovejoy
Mr R A Lovejoy
Ms A M Lovejoy





REGISTERED OFFICE: Manor Nursery
Lagness Road
Runcton
Chichester
West Sussex
PO20 1LJ





REGISTERED NUMBER: 00451031 (England and Wales)





AUDITORS: MMO Audit Services Limited
Chartered Accountants and Registered Auditors
Wellesely House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Fresh Acres Nurseries Limited (Registered number: 00451031)

Strategic Report
for the Year Ended 31 October 2024


The directors present their strategic report for the year ended 31 October 2024.

REVIEW OF BUSINESS
The company has seen an reduction in turnover in the current year, but has cut direct costs to see an improvement in gross profit margin.

The position of the company remains satisfactory, as reflected in the year end balance sheet.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties remain as the levels of demand in a recovering economy. In the retail sector our product range relies on our consumer base having sufficient disposable income for non essential maintenance and home improvements.

The company is always looking to improve its margin by monitoring the cost price of its goods whilst not compromising the quality.

A key risk to the company is obsolescence of stock due to its shelf life.

KEY PERFORMANCE INDICATORS (KPIS)
Turnover has fallen by 4.9% during the year, whilst the gross profit margin has increased from 11.2% to 11.9%.

The directors consider the performance against KPIs this year to be satisfactory in light of market conditions.

ON BEHALF OF THE BOARD:





Mr M J Carroll - Director


28 July 2025

Fresh Acres Nurseries Limited (Registered number: 00451031)

Report of the Directors
for the Year Ended 31 October 2024


The directors present their report with the financial statements of the company for the year ended 31 October 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

Mr M J Carroll
Mrs S M Lovejoy
Mr R A Lovejoy
Ms A M Lovejoy

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.

Fresh Acres Nurseries Limited (Registered number: 00451031)

Report of the Directors
for the Year Ended 31 October 2024


AUDITORS
The auditors, MMO Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr M J Carroll - Director


28 July 2025

Report of the Independent Auditors to the Members of
Fresh Acres Nurseries Limited


Opinion
We have audited the financial statements of Fresh Acres Nurseries Limited (the 'company') for the year ended 31 October 2024 which comprise the Income Statement, Other Comprehensive Income, 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 31 October 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.

Report of the Independent Auditors to the Members of
Fresh Acres Nurseries Limited


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.

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.

Report of the Independent Auditors to the Members of
Fresh Acres Nurseries Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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.

Report of the Independent Auditors to the Members of
Fresh Acres Nurseries Limited


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:

Extent to which the audit was considered of detecting irregularities, including fraud irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.

Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered have a direct material effect on the financial statement or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for the appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.


Report of the Independent Auditors to the Members of
Fresh Acres Nurseries Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

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.




Mrs Gillian McIntosh (Senior Statutory Auditor)
for and on behalf of MMO Audit Services Limited
Chartered Accountants and Registered Auditors
Wellesely House
204 London Road
Waterlooville
Hampshire
PO7 7AN

28 July 2025

Fresh Acres Nurseries Limited (Registered number: 00451031)

Income Statement
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

TURNOVER 1,844,728 1,940,937

Cost of sales 1,625,952 1,723,588
GROSS PROFIT 218,776 217,349

Administrative expenses 478,082 664,105
(259,306 ) (446,756 )

Other operating income 377,452 381,273
OPERATING PROFIT/(LOSS) 4 118,146 (65,483 )


Interest payable and similar
expenses

5

12,487

15,630
PROFIT/(LOSS) BEFORE
TAXATION

105,659

(81,113

)

Tax on profit/(loss) 6 35,698 (855 )
PROFIT/(LOSS) FOR THE
FINANCIAL YEAR

69,961

(80,258

)

Fresh Acres Nurseries Limited (Registered number: 00451031)

Other Comprehensive Income
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 69,961 (80,258 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

69,961

(80,258

)

Fresh Acres Nurseries Limited (Registered number: 00451031)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 2,019,940 2,054,055
Investments 9 1,223 1,223
Investment property 10 3,975,000 3,975,000
5,996,163 6,030,278

CURRENT ASSETS
Stocks 11 239,556 229,775
Debtors 12 39,345 40,146
Cash in hand 268 240
279,169 270,161
CREDITORS
Amounts falling due within one year 13 563,500 650,663
NET CURRENT LIABILITIES (284,331 ) (380,502 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,711,832

5,649,776

CREDITORS
Amounts falling due after more than
one year

14

(6,103

)

(16,459

)

PROVISIONS FOR LIABILITIES 17 (34,872 ) (32,421 )
NET ASSETS 5,670,857 5,600,896

Fresh Acres Nurseries Limited (Registered number: 00451031)

Balance Sheet - continued
31 October 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 18 27,480 27,480
Share premium 19 142,320 142,320
Other reserves 19 13,000 13,000
Retained earnings 19 5,488,057 5,418,096
SHAREHOLDERS' FUNDS 5,670,857 5,600,896


The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:





Mr M J Carroll - Director


Fresh Acres Nurseries Limited (Registered number: 00451031)

Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Share Other Total
capital earnings premium reserves equity
£    £    £    £    £   
Balance at 1 November 2022 27,480 5,498,354 142,320 13,000 5,681,154

Changes in equity
Total comprehensive income - (80,258 ) - - (80,258 )
Balance at 31 October 2023 27,480 5,418,096 142,320 13,000 5,600,896

Changes in equity
Total comprehensive income - 69,961 - - 69,961
Balance at 31 October 2024 27,480 5,488,057 142,320 13,000 5,670,857

Fresh Acres Nurseries Limited (Registered number: 00451031)

Cash Flow Statement
for the Year Ended 31 October 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 147,377 34,262
Interest paid (12,487 ) (15,630 )
Tax paid - 75,525
Net cash from operating activities 134,890 94,157

Cash flows from investing activities
Purchase of tangible fixed assets (7,021 ) (5,307 )
Net cash from investing activities (7,021 ) (5,307 )

Cash flows from financing activities
Loan repayments in year (10,097 ) (9,997 )
Amount withdrawn by directors (75,631 ) -
Net cash from financing activities (85,728 ) (9,997 )

Increase in cash and cash equivalents 42,141 78,853
Cash and cash equivalents at
beginning of year

2

(214,447

)

(293,300

)

Cash and cash equivalents at
end of year

2

(172,306

)

(214,447

)

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED
FROM OPERATIONS

2024 2023
£    £   
Profit/(loss) before taxation 105,659 (81,113 )
Depreciation charges 41,136 42,143
Finance costs 12,487 15,630
159,282 (23,340 )
(Increase)/decrease in stocks (9,781 ) 50,297
Decrease/(increase) in trade and other debtors 801 (16,193 )
(Decrease)/increase in trade and other creditors (2,925 ) 23,498
Cash generated from operations 147,377 34,262

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 31 October 2024
31/10/24 1/11/23
£    £   
Cash and cash equivalents 268 240
Bank overdrafts (172,574 ) (214,687 )
(172,306 ) (214,447 )
Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 240 3,349
Bank overdrafts (214,687 ) (296,649 )
(214,447 ) (293,300 )


Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/11/23 Cash flow At 31/10/24
£    £    £   
Net cash
Cash at bank and in hand 240 28 268
Bank overdrafts (214,687 ) 42,113 (172,574 )
(214,447 ) 42,141 (172,306 )
Debt
Debts falling due within 1 year (10,175 ) (259 ) (10,434 )
Debts falling due after 1 year (16,459 ) 10,356 (6,103 )
(26,634 ) 10,097 (16,537 )
Total (241,081 ) 52,238 (188,843 )

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Fresh Acres Nurseries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements are prepared for Fresh Acres Nurseries Limited as a single entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Land and buildings held and used in the Company's own activities are stated in the financial statements at their fair value.

Revaluations are carried out regularly so that the carrying values give a true and fair view. Any revaluation amount is reflected through the profit and loss reserve.

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual
revaluation is recognised through the profit and loss account.

This is in line with FRS 102 section 1A which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the
company and so are reflected at the fair value. This departure from the provisions of the Companies Act 2006 is required in order to give a true and fair view.

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value on an average cost method, after making due allowance for obsolete and slow moving items.

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.

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.

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.

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.

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 783,854 863,206
Social security costs 55,743 59,429
Other pension costs 23,486 23,018
863,083 945,653

The average number of employees during the year was as follows:
2024 2023

Operations 49 57
Administration 1 1
50 58

2024 2023
£    £   
Directors' remuneration 51,742 131,265

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 3,084 4,220
Other operating leases 9,077 9,161
Depreciation - owned assets 41,136 42,142

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 11,935 14,978
Bank loan interest 552 652
12,487 15,630

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 33,247 -

Deferred tax 2,451 (855 )
Tax on profit/(loss) 35,698 (855 )

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 21,000
AMORTISATION
At 1 November 2023
and 31 October 2024 21,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 November 2023 2,000,000 111,118 33,708
Additions - - -
At 31 October 2024 2,000,000 111,118 33,708
DEPRECIATION
At 1 November 2023 72,444 31,905 17,849
Charge for year 24,147 7,921 2,378
At 31 October 2024 96,591 39,826 20,227
NET BOOK VALUE
At 31 October 2024 1,903,409 71,292 13,481
At 31 October 2023 1,927,556 79,213 15,859

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2023 34,768 31,593 70,995 2,282,182
Additions 5,753 - 1,268 7,021
At 31 October 2024 40,521 31,593 72,263 2,289,203
DEPRECIATION
At 1 November 2023 21,359 17,427 67,143 228,127
Charge for year 2,875 2,125 1,690 41,136
At 31 October 2024 24,234 19,552 68,833 269,263
NET BOOK VALUE
At 31 October 2024 16,287 12,041 3,430 2,019,940
At 31 October 2023 13,409 14,166 3,852 2,054,055

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. TANGIBLE FIXED ASSETS - continued

Included in cost or valuation of land and buildings is freehold land of £ 792,608 (2023 - £ 792,608 ) which is not depreciated.

Cost or valuation at 31 October 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2020 1,444,584 - -
Cost 555,416 111,118 33,708
2,000,000 111,118 33,708

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2020 - - - 1,444,584
Cost 40,521 31,593 72,263 844,619
40,521 31,593 72,263 2,289,203

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 555,416 555,416
Aggregate depreciation 48,296 48,296

Value of land in freehold land and buildings 2,000,000 2,000,000

Freehold land and buildings were valued on an open market basis on 31 October 2024 by the directors .

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


9. FIXED ASSET INVESTMENTS
Unlisted
investmen
£   
COST
At 1 November 2023
and 31 October 2024 1,223
NET BOOK VALUE
At 31 October 2024 1,223
At 31 October 2023 1,223

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 3,975,000
NET BOOK VALUE
At 31 October 2024 3,975,000
At 31 October 2023 3,975,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2017 264,159
Valuation in 2019 410,000
Valuation in 2020 1,135,183
Valuation in 2021 (185,354 )
Cost 2,351,012
3,975,000

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


10. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,351,012 2,351,012

Investment property was valued on an open market basis on 31 October 2024 by the directors .

11. STOCKS
2024 2023
£    £   
Stocks 239,556 229,775

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,922 26,960
Prepayments 14,423 13,186
39,345 40,146

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15)
183,008

224,862
Trade creditors 121,803 114,711
Tax 33,247 -
Social security and other taxes 11,921 16,998
VAT 37,695 39,582
Other creditors 3,479 7,793
Directors' loan accounts 156,057 231,688
Accrued expenses 16,290 15,029
563,500 650,663

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 15) 6,103 16,459

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 172,574 214,687
Bank loans 10,434 10,175
183,008 224,862

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,103 16,459

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 172,574 214,687

Included within secured debt (overdraft) is £172,574 (2023: £214,687) owed to HSBC plc.

HSBC plc has a fixed charge over all assets of the company. The facility was renewed post year end.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 34,872 32,421

Fresh Acres Nurseries Limited (Registered number: 00451031)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


17. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 32,421
Accelerated capital allowances 2,451
Deferred tax on revaluations
Balance at 31 October 2024 34,872

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
27,480 Ordinary £1 27,480 27,480

19. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 November 2023 5,418,096 142,320 13,000 5,573,416
Profit for the year 69,961 69,961
At 31 October 2024 5,488,057 142,320 13,000 5,643,377

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R A Lovejoy.