Urban & Rural Plants Limited 07477766 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is wholesale and retail nursery sales. Digita Accounts Production Advanced 6.30.9574.0 true 07477766 2024-01-01 2024-12-31 07477766 2024-12-31 07477766 bus:OrdinaryShareClass1 bus:Non-cumulativeRedeemableShares 2024-12-31 07477766 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 07477766 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 07477766 core:CurrentFinancialInstruments 2024-12-31 07477766 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07477766 core:Non-currentFinancialInstruments 2024-12-31 07477766 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 07477766 core:Goodwill 2024-12-31 07477766 core:FurnitureFittings 2024-12-31 07477766 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 07477766 core:MotorVehicles 2024-12-31 07477766 core:OfficeEquipment 2024-12-31 07477766 bus:SmallEntities 2024-01-01 2024-12-31 07477766 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07477766 bus:FilletedAccounts 2024-01-01 2024-12-31 07477766 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07477766 bus:RegisteredOffice 2024-01-01 2024-12-31 07477766 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 07477766 bus:Director2 2024-01-01 2024-12-31 07477766 bus:OrdinaryShareClass1 bus:Non-cumulativeRedeemableShares 2024-01-01 2024-12-31 07477766 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07477766 bus:Agent1 2024-01-01 2024-12-31 07477766 core:Goodwill 2024-01-01 2024-12-31 07477766 core:CommercialMotorVehicles 2024-01-01 2024-12-31 07477766 core:FurnitureFittings 2024-01-01 2024-12-31 07477766 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07477766 core:MotorVehicles 2024-01-01 2024-12-31 07477766 core:OfficeEquipment 2024-01-01 2024-12-31 07477766 core:PlantMachinery 2024-01-01 2024-12-31 07477766 countries:England 2024-01-01 2024-12-31 07477766 2023-12-31 07477766 core:Goodwill 2023-12-31 07477766 core:FurnitureFittings 2023-12-31 07477766 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 07477766 core:MotorVehicles 2023-12-31 07477766 core:OfficeEquipment 2023-12-31 07477766 2023-01-01 2023-12-31 07477766 2023-12-31 07477766 bus:OrdinaryShareClass1 bus:Non-cumulativeRedeemableShares 2023-12-31 07477766 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 07477766 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 07477766 core:CurrentFinancialInstruments 2023-12-31 07477766 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07477766 core:Non-currentFinancialInstruments 2023-12-31 07477766 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07477766 core:FurnitureFittings 2023-12-31 07477766 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 07477766 core:MotorVehicles 2023-12-31 07477766 core:OfficeEquipment 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07477766

Urban & Rural Plants Limited

Filleted and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Urban & Rural Plants Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

Urban & Rural Plants Limited

Company Information

Directors

Mr S J Rankin

Mr L H McKie

Company secretary

Mr S J Rankin

Registered office

Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

Accountants

Redwoods
Chartered Certified Accountants2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

Urban & Rural Plants Limited

(Registration number: 07477766)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

110,695

116,784

Current assets

 

Stocks

6

161,278

182,078

Debtors

7

31,209

33,390

Cash at bank and in hand

 

10,640

24,167

 

203,127

239,635

Creditors: Amounts falling due within one year

8

(128,190)

(111,661)

Net current assets

 

74,937

127,974

Total assets less current liabilities

 

185,632

244,758

Creditors: Amounts falling due after more than one year

8

(4,684)

(17,662)

Provisions for liabilities

(4,864)

(6,386)

Net assets

 

176,084

220,710

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

175,984

220,610

Shareholders' funds

 

176,084

220,710

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 and 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 2 July 2025 and signed on its behalf by:
 

.........................................
Mr S J Rankin
Company secretary and director

 

Urban & Rural Plants 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.

The address of its registered office is:
Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

The principal place of business is:
Matford Home Farm
Matford
Exeter
Devon
EX2 8XT

These financial statements were authorised for issue by the Board on 2 July 2025.

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 accounts are presented in £ sterling and rounded to £1.

 

Urban & Rural Plants Limited

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

Judgements

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 current 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.

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:

 

Urban & Rural Plants Limited

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

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Office equipment

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.

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

Goodwill

5 years straight line basis

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.

 

Urban & Rural Plants 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.

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.

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.

 

Urban & Rural Plants Limited

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

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in non-puttable ordinary shares.
 Recognition and measurement
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of an outright loan not at market rate, the financial liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Investments in non-puttable non quoted ordinary shares are measured at cost less impairment.

 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference bewteen an asset's carrying amount and the present value of estimated cash flows, discounted at the asset's original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference bewteen an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realised the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 17).

 

Urban & Rural Plants 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

21,698

21,698

At 31 December 2024

21,698

21,698

Amortisation

At 1 January 2024

21,698

21,698

At 31 December 2024

21,698

21,698

Carrying amount

At 31 December 2024

-

-

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Commercial vehicles
 £

Cost or valuation

At 1 January 2024

91,238

72,964

2,710

45,513

Additions

-

169

233

-

At 31 December 2024

91,238

73,133

2,943

45,513

Depreciation

At 1 January 2024

-

64,736

2,109

28,796

Charge for the year

-

2,101

210

4,180

At 31 December 2024

-

66,837

2,319

32,976

Carrying amount

At 31 December 2024

91,238

6,296

624

12,537

At 31 December 2023

91,238

8,228

601

16,717

 

Urban & Rural Plants Limited

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

Total
£

Cost or valuation

At 1 January 2024

212,425

Additions

402

At 31 December 2024

212,827

Depreciation

At 1 January 2024

95,641

Charge for the year

6,491

At 31 December 2024

102,132

Carrying amount

At 31 December 2024

110,695

At 31 December 2023

116,784

Included within the net book value of land and buildings above is £91,238 (2023 - £91,238) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

161,278

182,078

7

Debtors

Current

2024
£

2023
£

Trade debtors

9,619

24,413

Prepayments

9,229

7,712

Other debtors

12,361

1,265

 

31,209

33,390

 

Urban & Rural Plants Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

63,155

15,538

Trade creditors

 

47,733

34,465

Taxation and social security

 

7,362

41,782

Accruals and deferred income

 

4,210

18,072

Other creditors

 

5,730

1,804

 

128,190

111,661

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £13,155 (2023 - £15,538).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

4,684

17,662

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £4,684 (2023 - £17,662).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Urban & Rural Plants Limited

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,684

14,607

Hire purchase contracts

-

3,055

4,684

17,662

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,100

10,300

Hire purchase contracts

3,055

5,238

Other borrowings

50,000

-

63,155

15,538