REGISTERED NUMBER: 02988917 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHAPEL COTTAGE PLANTS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,336,884

1,371,094

1,336,884

1,371,094

CURRENT ASSETS

Stocks

2,175,845

2,189,774

Debtors

6

74,785

119,913

Cash in hand

3,640

943

2,254,270

2,310,630

CREDITORS

Amounts falling due within one year

7

1,284,445

1,128,501

NET CURRENT ASSETS

969,825

1,182,129

TOTAL ASSETS LESS CURRENT LIABILITIES

2,306,709

2,553,223

CREDITORS

Amounts falling due after more than one year

8

(526,387

)

(582,049

)

PROVISIONS FOR LIABILITIES

11

(306,584

)

(319,929

)

NET ASSETS

1,473,738

1,651,245

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

1,473,638

1,651,145

SHAREHOLDERS' FUNDS

1,473,738

1,651,245

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr D J Green - Director

Mrs A Green - Director

1.	STATUTORY INFORMATION

Chapel Cottage Plants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02988917

Registered office:

Meadow Barn

Hook Road

Wimblington

March

Cambridgeshire

PE15 0QL

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

" the Company has transferred the significant risks and rewards of ownership to the buyer;

" the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

" the amount of revenue can be measured reliably;

" it is probable that the Company will receive the consideration due under the transaction; and

" the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five 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

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as stated below.

Land and buildings

- 2.5% straight line

Plant and machinery

- 20% reducing balance & 10% straight line

Motor vehicles

- 25% reducing balance

Fixtures and fittings

- 25% reducing balance

Computer equipment

- 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Deferred tax is calculated based on the rate at which the company is expected to pay corporation tax in the future.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

60,000

AMORTISATION

At 1 January 2024

and 31 December 2024

60,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

180,807

923,693

1,788,328

Additions

20,775

66,813

57,515

Disposals

-

(24,476

)

-

At 31 December 2024

201,582

966,030

1,845,843

DEPRECIATION

At 1 January 2024

38,015

707,285

798,552

Charge for year

2,760

67,450

135,104

Eliminated on disposal

-

(22,593

)

-

At 31 December 2024

40,775

752,142

933,656

NET BOOK VALUE

At 31 December 2024

160,807

213,888

912,187

At 31 December 2023

142,792

216,408

989,776

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

27,657

83,621

3,004,106

Additions

44,895

7,167

197,165

Disposals

(24,957

)

-

(49,433

)

At 31 December 2024

47,595

90,788

3,151,838

DEPRECIATION

At 1 January 2024

20,599

68,561

1,633,012

Charge for year

11,509

6,747

223,570

Eliminated on disposal

(19,035

)

-

(41,628

)

At 31 December 2024

13,073

75,308

1,814,954

NET BOOK VALUE

At 31 December 2024

34,522

15,480

1,336,884

At 31 December 2023

7,058

15,060

1,371,094

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

68,205

DEPRECIATION

At 1 January 2024

23,644

Charge for year

8,912

At 31 December 2024

32,556

NET BOOK VALUE

At 31 December 2024

35,649

At 31 December 2023

44,561

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

4,055

14,088

Other debtors

70,730

105,825

74,785

119,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1,104,707

833,387

Hire purchase contracts (see note 9)

8,041

8,041

Trade creditors

106,531

186,864

Taxation and social security

9,957

14,197

Other creditors

55,209

86,012

1,284,445

1,128,501

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

517,676

565,297

Hire purchase contracts (see note 9)

8,711

16,752

526,387

582,049

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

293,800

365,909

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

8,041

8,041

Between one and five years

8,711

16,752

16,752

24,793

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

564,765

600,000

Hire purchase contracts

16,752

24,793

581,517

624,793

Secured debts are secured via a fixed and floating charge on the company's assets or on the specific asset to which they relate.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

306,584

319,929

Deferred

tax

£

Balance at 1 January 2024

319,929

Accelerated capital allowances

(13,345

)

Balance at 31 December 2024

306,584

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

80

Ordinary A Shares

£1

80

80

15

Ordinary B Shares

£1

15

20

5

Ordinary C Shares

£1

5

-

100

100

During the year Mr D J Green transferred his 5 Ordinary B shares to Mr N Green and Mrs A Green's 5 Ordinary B shares were redesignated as Ordinary C shares and transferred to Mr C H Green.

13.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £21,548 (2023 - £19,521). Contributions totalling £3,699 (2023 - £4,334) were payable to the fund at the balance sheet date and are included in creditors.

14.	RELATED PARTY DISCLOSURES

During the year, total dividends of £233,287 (2023 - £140,022) were paid to the directors .

Included in creditors falling due within one year are loans from the directors to the company amounting to £386 (2023 - £386). These loans are interest free and repayable on demand.

During the year, the Company occupied land owned by directors of the Company at no cost. The annual rent payable for the land on a normal commercial basis would be in the region of £25,000 per annum (2023 - £25,000 per annum).