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Registration number: 04739172

Laylocks Nurseries and Garden Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Laylocks Nurseries and Garden Centre Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Laylocks Nurseries and Garden Centre Limited

Company Information

Directors

Mr M F T Warr

Mrs L Warr

Miss H E Warr

Company secretary

Mrs L Warr

Registered office

Bromyard Road
Cotheridge
Worcestershire
WR6 5LP

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Laylocks Nurseries and Garden Centre Limited

(Registration number: 04739172)
Balance Sheet as at 31 December 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

5

903,963

737,593

Current assets

 

Stocks

6

153,475

122,780

Debtors

7

14,900

22,465

Cash at bank and in hand

 

319,205

447,673

 

487,580

592,918

Creditors: Amounts falling due within one year

8

(344,652)

(323,987)

Net current assets

 

142,928

268,931

Total assets less current liabilities

 

1,046,891

1,006,524

Provisions for liabilities

(64,585)

(51,037)

Net assets

 

982,306

955,487

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

982,206

955,387

Shareholders' funds

 

982,306

955,487

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.

Approved and authorised by the Board on 1 August 2025 and signed on its behalf by:
 

.........................................
Mr M F T Warr
Director

.........................................
Mrs L Warr
Director

.........................................
Miss H E Warr
Director

 

Laylocks Nurseries and Garden Centre 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 United Kingdom.

The address of its registered office is:
Bromyard Road
Cotheridge
Worcestershire
WR6 5LP
United Kingdom

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Prior period errors

The financial statements in respect of the year ended 31 December 2023 included an overstated total dividend figure. The total included in the accounts was £142,184, whereas the actual agreed dividends for the year totaled £103,092. This was due to a duplication of C ordinary share dividend voted in the year.

The effect of the restatement on the balance sheet as at 31 December 2023 is a reduction in the creditors amounts falling due within one year figure by £39,092 to £323,987 and an increase in the retained earings figure of £39,092 to £955,387. The profit and loss account reported for the year was not affected by this issue.

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.

Tax

The tax expense for the period comprises current tax and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Laylocks Nurseries and Garden Centre Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Improvements to property

10% straight line basis

Plant and machinery

15% and 10% reducing balance basis

Motor vehicles

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Laylocks Nurseries and Garden Centre Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 79 (2023 - 60).

 

Laylocks Nurseries and Garden Centre Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

75,000

75,000

At 31 December 2024

75,000

75,000

Amortisation

At 1 January 2024

75,000

75,000

At 31 December 2024

75,000

75,000

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

785,056

623,661

85,762

1,494,479

Additions

188,094

67,646

46,986

302,726

Disposals

-

(7,200)

-

(7,200)

At 31 December 2024

973,150

684,107

132,748

1,790,005

Depreciation

At 1 January 2024

253,823

432,837

70,226

756,886

Charge for the year

80,338

38,079

15,631

134,048

Eliminated on disposal

-

(4,892)

-

(4,892)

At 31 December 2024

334,161

466,024

85,857

886,042

Carrying amount

At 31 December 2024

638,989

218,083

46,891

903,963

At 31 December 2023

531,233

190,824

15,536

737,593

6

Stocks

2024
£

2023
£

Other inventories

153,475

122,780

 

Laylocks Nurseries and Garden Centre Limited

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

7

Debtors

Current

2024
£

2023
£

Trade debtors

9,209

19,832

Prepayments

5,691

2,633

 

14,900

22,465

8

Creditors

Creditors: amounts falling due within one year

2024
£

(As restated)

2023
£

Due within one year

Trade creditors

168,115

170,525

Taxation and social security

108,390

95,030

Accruals and deferred income

46,906

35,857

Other creditors

21,241

22,575

344,652

323,987

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

60

60

82

82

B Ordinary of £1 each

12

12

12

12

C Ordinary of £1 each

28

28

6

6

100

100

100

100

On 08/07/2024, 22 A shares were redesignated to C shares.