REGISTERED NUMBER: 09229436 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Over The Rainbow Nurseries Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Dobson

Mr J J Aldridge

Mrs L A Aldridge

REGISTERED OFFICE:

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

REGISTERED NUMBER:

09229436 (England and Wales)

ACCOUNTANTS:

TC Group

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Intangible assets

4

-

18,000

Tangible assets

5

161,940

159,261

161,940

177,261

CURRENT ASSETS

Debtors

6

3,456

2,638

Cash at bank and in hand

123,622

41,264

127,078

43,902

CREDITORS

Amounts falling due within one year

7

99,506

87,107

NET CURRENT ASSETS/(LIABILITIES)

27,572

(43,205

)

TOTAL ASSETS LESS CURRENT LIABILITIES

189,512

134,056

CREDITORS

Amounts falling due after more than one year

8

(84,419

)

(98,070

)

PROVISIONS FOR LIABILITIES

(1,713

)

(496

)

NET ASSETS

103,380

35,490

CAPITAL AND RESERVES

Called up share capital

10

100

50

Capital redemption reserve

-

50

Retained earnings

103,280

35,390

103,380

35,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

Mrs L A Aldridge - Director

1.	STATUTORY INFORMATION

Over The Rainbow 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The company has elected not to depreciate its buildings, departing from the requirements of the Companies Act 2006, FRS102 1A which mandates depreciation of such assets. This decision is based on management's assessment that the buildings have a long useful life and that their residual value is not expected to decrease materially over time.

Under IAS36 Buildings are carried at cost and are subject to an annual impairment review to ensure that their carrying value does not exceed their recoverable amount. Management believes that this approach provides a more accurate representation of the company's financial position and better reflects the economic reality of the assets. The company carries out repairs of the building to ensure there is no diminution in value.

The impact of this departure from the Companies Act is as follows:

- No depreciation charge has been recognised for buildings in the current financial year.

- Had the company applied depreciation in accordance with the Companies Act, the profit for the year would have been lower by £3,000.

-The carrying value of buildings as of 31 December 2024 remains at £150,000 subject to annual impairment assessment.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

180,000

AMORTISATION

At 1 January 2024

162,000

Charge for year

18,000

At 31 December 2024

180,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

18,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

155,088

10,531

165,619

Additions

-

4,992

4,992

Disposals

-

(3,233

)

(3,233

)

At 31 December 2024

155,088

12,290

167,378

DEPRECIATION

At 1 January 2024

-

6,358

6,358

Charge for year

-

1,390

1,390

Eliminated on disposal

-

(2,310

)

(2,310

)

At 31 December 2024

-

5,438

5,438

NET BOOK VALUE

At 31 December 2024

155,088

6,852

161,940

At 31 December 2023

155,088

4,173

159,261

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

3,392

2,638

Other debtors

64

-

3,456

2,638

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

16,080

15,691

Trade creditors

1,420

7,230

Taxation and social security

31,392

14,209

Other creditors

50,614

49,977

99,506

87,107

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

84,419

98,070

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Mortgage Due in Over 5 Years

20,100

35,305

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Mortgage

100,499

113,762

The Royal Bank of Scotland holds a fixed and floating charge which covers all of the property and undertaking of the company including 40 Violet Street, Wigan.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

Value

£

£

25

Ordinary 'A' Shares

£1

25

25

25

Ordinary 'B' Shares

£1

25

25

25

Ordinary 'C' Shares

£1

25

-

25

Ordinary 'D' Shares

£1

25

-

100

50

On 22 March 2022 the company completed a repurchase of 50 Ordinary C Shares, which were held in treasury until 14 February 2024.

On this date 50 C Shares were reclassified as 25 'C' Shares and 25 'D' Shares.

11.	OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments of £578.