Company registration number 06278640 (England and Wales)
HORTUS LOCI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
HORTUS LOCI LIMITED
COMPANY INFORMATION
Directors
Mr R M T Wallis
Mr C M Straver
Mrs S C Robertson
Company number
06278640
Registered office
The Plant Centre
Hortus Loci Ltd
Hound Green
United Kingdom
RG27 8LQ
HORTUS LOCI LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
HORTUS LOCI LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
107,672
95,272
Current assets
Stocks
1,351,606
1,504,470
Debtors
4
1,076,476
1,123,756
Cash at bank and in hand
8,377
14,686
2,436,459
2,642,912
Creditors: amounts falling due within one year
5
(1,725,042)
(1,291,908)
Net current assets
711,417
1,351,004
Total assets less current liabilities
819,089
1,446,276
Creditors: amounts falling due after more than one year
6
(41,347)
(65,212)
Provisions for liabilities
8
(26,918)
(56,019)
Net assets
750,824
1,325,045
Capital and reserves
Called up share capital
9
550
550
Share premium account
119,950
119,950
Profit and loss reserves
630,324
1,204,545
Total equity
750,824
1,325,045

The notes on pages 3 to 9 form part of these financial statements.

For the financial year ended 31 August 2024 the company 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 LOCI LIMITED
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 06278640 (England and Wales)
HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Hortus Loci Limited 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 C ompany. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Despite the loss incurred in the year, the directors have continued to prepare the financial statements on a going concern basis based upon forecasts prepared, which show the Company has the necessary resources to continue in operational existence for the foreseeable future.

1.3
Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised at the date of invoice.

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.

Plant and machinery
25% on reducing balance basis
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance basis

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.

All tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each reporting date, property, plant and equipment are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment is recognised immediately in the income statement.

HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are valued at the lower of cost and selling price, after making due allowance for obsolete and slow moving items.

1.6
Cash at bank and in hand

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

1.7
Financial instruments

The C ompany 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 company 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.

1.8
Equity instruments

Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer payable at the discretion of the Company.

HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Taxation
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.

1.10
Retirement benefits

Short term employee benefits, including holiday entitlement and other non-monetary benefits, and contributions to defined contribution or personal pension schemes are recognised as an expense in the period in which they are incurred. The company has no further responsibility in respect of those schemes.

1.11
Leases

Assets obtained under hire purchase contracts or finance leases are capitali s ed 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 shorter.

The interest element of these obligations is charged to the Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
Foreign exchange

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.

HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
2
Employees

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

2024
2023
Number
Number
Total
38
38
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1 September 2023
238,841
21,579
88,871
349,291
Additions
26,152
-
0
18,424
44,576
At 31 August 2024
264,993
21,579
107,295
393,867
Depreciation and impairment
At 1 September 2023
171,503
18,184
64,332
254,019
Depreciation charged in the year
20,831
3,307
8,038
32,176
At 31 August 2024
192,334
21,491
72,370
286,195
Carrying amount
At 31 August 2024
72,659
88
34,925
107,672
At 31 August 2023
67,338
3,395
24,539
95,272
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
55,797
62,303
Corporation tax recoverable
6,171
5,719
Amounts owed by group undertakings
978,736
1,040,536
Other debtors
35,772
15,198
1,076,476
1,123,756
HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
301,220
250,996
Trade creditors
591,941
627,279
Amounts owed to group undertakings
291,171
-
0
Corporation tax
453
1,647
Other taxation and social security
193,918
124,687
Other creditors
346,339
287,299
1,725,042
1,291,908
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,321
25,227
Other creditors
28,026
39,985
41,347
65,212

Assets held under finance leases, included within other creditors, are secured against the asset upon which the finance lease relates.

7
Loans and overdrafts
2024
2023
£
£
Bank loans
24,217
34,442
Bank overdrafts
290,324
241,781
314,541
276,223
Payable within one year
301,220
250,996
Payable after one year
13,321
25,227
HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
7
Loans and overdrafts
(Continued)
- 8 -

During the year to 31 August 2023, a first legal mortgage over the freehold land of Hortus Loci Limited known as White Water Nursery, Hound Green, Hook, Hampshire RG27 8LQ was transferred to the parent company together with the freehold property.

The bank loans and overdraft are secured by the following:

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

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

General Pledge over documents and goods to be given by Hortus Loci Limited.

A joint and several personal guarantee in the sum of £150,000 given by the owner/directors, Mr R M T Wallis and Mr C M Straver.

The Company has entered into a cross guarantee with its bankers, HSBC UK Bank plc, to secure the bank borrowings of the Company, Hortus Centrum Limited and Hortus Loci Landscapes Ltd.

8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
26,918
56,019

Deferred tax is in respect of accelerated capital allowances of £26,918 (2023 - £56,019) and is expected to reverse over the next 3-4 years.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of 1p each
55,000
55,000
550
550
10
Directors' advances, credits and guarantees

Included in other debtors are amounts totalling £6,221 (20 23 - £4,879) owed to the Company from a director.

The amount includes interest charged at 2.5% on the outstanding balance.

HORTUS LOCI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
11
Related party transactions

Included in other creditors is an amount of £70,049 (20 23 - £67,753) owed to one of the directors. Interest is charged at a rate of 8% per annum on the outstanding balance.

The company 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 parent undertaking and its wholly owned subsidiaries.

12
Parent company

Hortus Centrum Ltd owns 100% of the issued share capital of the C ompany and is considered to be the ultimate parent company. F inancial statements may be obtained from the parent company's registered office at The Plant Centre, Hortus Loci, Hound Green, Hook, United Kingdom, RG27 8LQ.

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