Company registration number 12962278 (England and Wales)
HORTUS CENTRUM LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
HORTUS CENTRUM LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
HORTUS CENTRUM LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,048
3,669
Investment property
4
1,820,745
1,677,920
Investments
5
102,466
102,466
1,938,259
1,784,055
Current assets
Debtors
7
4,768
23,870
Cash at bank and in hand
27,054
42,929
31,822
66,799
Creditors: amounts falling due within one year
8
(1,015,848)
(1,075,314)
Net current liabilities
(984,026)
(1,008,515)
Total assets less current liabilities
954,233
775,540
Creditors: amounts falling due after more than one year
9
(803,802)
(568,818)
Provisions for liabilities
11
(206,368)
(168,715)
Net (liabilities)/assets
(55,937)
38,007
Capital and reserves
Called up share capital
12
500
500
Profit and loss reserves
(56,437)
37,507
Total equity
(55,937)
38,007

The notes on pages 3 to 8 form part of these financial statements.

For the financial year ended 31 August 2024 the C ompany was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

HORTUS CENTRUM LTD
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 November 2025 and are signed on its behalf by:
Mr C M Straver
Director
Company registration number 12962278 (England and Wales)
HORTUS CENTRUM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Hortus Centrum Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Plant Centre, Hortus Loci Ltd, Hound Green, United Kingdom, RG27 8LQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

The C ompany has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the C ompany as an individual entity and not about its group.

1.2
Going concern

At the year end the Company had net liabilities of £55,937 (2023 - £38,007 net assets) and net current liabilities of £984,026 (2023 - £1,008,515). The Company benefits from the ongoing support of Hortus Loci Limited and Hortus Loci Landscapes Limited, the subsidiary companies, through their short-term funding. Forecasts prepared by the directors demonstrate that, with the support of its subsidiaries, it will be able to meet its liabilities as they fall due.

These financial statements are therefore prepared on a going concern basis.

1.3
Turnover

Turnover comprises rental income from properties held as investments. Income is recognised on an accruals basis in the period to which it relates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

HORTUS CENTRUM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the C ompany's balance sheet when the C ompany becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax movement.

HORTUS CENTRUM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
HORTUS CENTRUM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 September 2023
3,896
Additions
13,000
At 31 August 2024
16,896
Depreciation and impairment
At 1 September 2023
227
Depreciation charged in the year
1,621
At 31 August 2024
1,848
Carrying amount
At 31 August 2024
15,048
At 31 August 2023
3,669
4
Investment property
2024
£
Fair value
At 1 September 2023
1,677,920
Additions
142,825
At 31 August 2024
1,820,745

Investment property comprises freehold property together with improvements to property and fixtures and fittings which were transferred to the Company on 16 June 2023 from one of its subsidiaries at their net book values, and subsequent improvements to the property through the year to 31 August 2024.

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 18 May 2022 by David Rusholme FRICS, independent valuers not connected with the company, on the basis of market value. The valuation conform ed to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The directors also consider the valuation to be appropriate as at 31 August 2024.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
102,466
102,466
HORTUS CENTRUM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
6
Subsidiaries

Details of the Company's subsidiaries at 31 August 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Hortus Loci Landscapes Ltd
The Plant Centre, Hortus Loci, Hound Green, Hook, United Kingdom, RG27 8LQ
Ordinary
100.00
Hortus Loci Limited
The Plant Centre, Hortus Loci Ltd., Hound Green, United Kingdom, RG27 8LQ
Ordinary
100.00
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
716
Other debtors
4,768
23,154
4,768
23,870
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,987
29,869
Trade creditors
26,814
4,460
Amounts owed to group undertakings
978,736
1,038,239
Other creditors
3,311
2,746
1,015,848
1,075,314
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
803,802
568,818
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
779,442
418,218
HORTUS CENTRUM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
10
Loans
2024
2023
£
£
Bank loans
810,789
598,687
Payable within one year
6,987
29,869
Payable after one year
803,802
568,818

During the year ended 31 August 2023, a first legal mortgage over the freehold land known as White Water Nursery, Hound Green, Hook, Hampshire RG27 8LQ was transferred to the Company from one of its subsidiaries together with the freehold property.

The bank loan is secured by the following:

A first legal mortgage over the freehold land transferred to the Company in the year.

Debenture comprising fixed and floating charges over all assets and undertakings of the Company including all present and future freehold and leasehold property, book and other debts, chattels, goodwill and uncalled capital, both present and future.

11
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
206,368
168,715

Deferred tax is in respect of property revaluations of £206,368 (2023 - £168,715).

12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
50,000
50,000
500
500

On 20 December 2022 35,000 ordinary shares of 1p were allotted as fully paid at par.

13
Financial commitments, guarantees and contingent liabilities

There is a contingent liability in respect of further consideration payable on the purchase of the 10,600 shares in Hortus Loci Limited should the Company, its trade, or any land, be sold within 10 years of 28 September 2020.

14
Related party transactions

The C ompany has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the wholly owned subsidiaries.

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