REGISTERED NUMBER: 01957538 (England and Wales)

PROFESSIONAL SPORTSTURF DESIGN

(NORTH WEST) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr R Earl

Prof D M James

REGISTERED OFFICE:

Wigan Road

Leyland

Lancashire

PR25 5XW

REGISTERED NUMBER:

01957538 (England and Wales)

AUDITORS:

Rushtons

Chartered Accountants

Statutory Auditors

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

BANKERS:

National Westminster Bank Plc

292 Garstang Road

Fulwood

Preston

Lancashire

PR2 9RQ

FIXED ASSETS

Intangible assets

4

-

30,045

Tangible assets

5

70,901

83,144

Investments

6

115

300,215

71,016

413,404

CURRENT ASSETS

Stocks

11,950

35,843

Debtors

373,434

587,082

Cash at bank and in hand

270,827

323,346

656,211

946,271

CREDITORS

Amounts falling due within one year

184,141

293,907

NET CURRENT ASSETS

472,070

652,364

TOTAL ASSETS LESS CURRENT LIABILITIES

543,086

1,065,768

PROVISIONS FOR LIABILITIES

15,138

17,631

NET ASSETS

527,948

1,048,137

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

527,848

1,048,037

SHAREHOLDERS' FUNDS

527,948

1,048,137

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by:

Prof D M James - Director

1.	STATUTORY INFORMATION

Professional Sportsturf Design (North West) 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents net invoiced value of services supplied, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of 5 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on reducing balance

Office equipment

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Long term contracts

When the outcome of a contract can be assessed with reasonable certainty an appropriate proportion of total contract value is included in turnover. The costs incurred in reaching that stage of completion are matched with this turnover. Hence the profit recognised in the accounts is the profit on the proportion of the contract completed by the balance sheet date. Where the directors expect an overall loss on a contract this is recognised as soon as it is foreseen.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

200,851

AMORTISATION

At 1 January 2024

170,806

Amortisation for year

30,045

At 31 December 2024

200,851

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

30,045

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

187,774

Disposals

(8,284

)

At 31 December 2024

179,490

DEPRECIATION

At 1 January 2024

104,630

Charge for year

12,243

Eliminated on disposal

(8,284

)

At 31 December 2024

108,589

NET BOOK VALUE

At 31 December 2024

70,901

At 31 December 2023

83,144

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

Totals

£

COST

At 1 January 2024

27,350

Transfer to ownership

(27,350

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

5,197

Charge for year

2,215

Transfer to ownership

(7,412

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

22,153

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

307,715

Disposals

(300,100

)

At 31 December 2024

7,615

PROVISIONS

At 1 January 2024

and 31 December 2024

7,500

NET BOOK VALUE

At 31 December 2024

115

At 31 December 2023

300,215

The company's investments at the Balance Sheet date in the share capital of companies include the following:

PSD Agronomy Limited

Registered office: Shorrock House, 1 Faraday Court, Fulwood, Preston, Lancashire PR2 9NB

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary shares

100.00

European Turfgrass Laboratories (Holdings) Limited

Registered office: Shorrock House, 1 Faraday Court, Fulwood, Preston, Lancashire PR2 9NB

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

100.00

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Gross obligations repayable:

Within one year

-

11,052

Finance charges repayable:

Within one year

-

737

Net obligations repayable:

Within one year

-

10,315

Non-cancellable

operating leases

2024

2023

£

£

Within one year

48,225

59,561

Between one and five years

57,347

81,345

105,572

140,906

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Calvert ACA (Senior Statutory Auditor)

for and on behalf of Rushtons

9.	RELATED PARTY DISCLOSURES

The company had the following related party transactions with non-wholly owned group companies:

2024

2023

£

£

Dividends paid

129,000

217,500

Management charges paid

143,716

112,334

Sales

31,926

27,857

Debtors

127,308

144,979

Purchases

188,916

317,542

Creditors

13,669

27,913

Rent has been paid for premises used by the company that Dr R Earl owns privately. Rent paid in the year amounted to £31,603 (2023: £7,375).

10.	POST BALANCE SHEET EVENTS

From January 2025, all staff at the company have been TUPED over into Labosport Limited, a company in the same group, based in the UK.

During 2025, the trade and assets of the company will also be transferred into Labosport Limited.

11.	ULTIMATE CONTROLLING PARTY

The company was, at the end of the year, a wholly owned subsidiary of another company, incorporated in France. This parent company, SAS Labonext is a wholly owned subsidiary in its own right. The ultimate parent company prepares consolidated financial statements. In accordance with Section 401 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated financial statements. As a result, these financial statements present information about it as an individual, not its group.

The directors consider the ultimate controlling party to be Greenpeak Fund II GmbH & Co. KG, a company incorporated in Germany. The correspondence address for Greenpeak Fund II GmbH & Co. KG is: Theatinerstraße 14, D – 80333 München, Germany.

The financial statements for Greenpeak Fund II GmbH & Co. KG are publicly available from the following web address: https://www.unternehmensregister.de/ureg/index.html;jsessionid=027654FF4C22CFAC6B81 4A72D076A536.web01-1.