Registration number: 07924600

Springfield Nursery Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Springfield Nursery Limited

Company Information

Directors

Mr Richard May Mrs Anna May

Registered office

Springfield Farm Marwood Barnstaple Devon EX31 4DU

Accountants

Ward and Co Chartered Accountants West Penhill Farm Fremington Barnstaple Devon EX31 2NG

Springfield Nursery Limited

(Registration number: 07924600)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	62,686	60,624
Current assets
Stock	6	500	-
Debtors	7	9,145	9,531
Cash at bank and in hand		413,175	192,346
		422,820	201,877
Creditors: Amounts falling due within one year	8	(221,818)	(87,829)
Net current assets		201,002	114,048
Total assets less current liabilities		263,688	174,672
Provisions for liabilities		(14,603)	(14,603)
Net assets		249,085	160,069
Capital and reserves
Called up share capital	9	100	100
Retained earnings		248,985	159,969
Shareholders' funds		249,085	160,069

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2025 and signed on its behalf by:
 

Springfield Nursery Limited

(Registration number: 07924600)
Balance Sheet as at 31 March 2025

......................................... Mr Richard May Director

......................................... Mrs Anna May Director

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Springfield Farm
Marwood
Barnstaple
Devon
EX31 4DU

These financial statements were authorised for issue by the Board on 2 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	15 years straight line
Plant & Machinery	8 years straight line
Vehicles	15% reducing balance
Fixture & Fittings	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2024 - 41).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	350,000	350,000
At 31 March 2025	350,000	350,000
Amortisation
At 1 April 2024	350,000	350,000
At 31 March 2025	350,000	350,000
Carrying amount
At 31 March 2025	-	-

5	Tangible assets

	Land and buildings £	Plant, machinery, Fixtures & fittings	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	2,210	139,227	39,995	181,432
Additions	-	15,000	-	15,000
At 31 March 2025	2,210	154,227	39,995	196,432
Depreciation
At 1 April 2024	-	120,808	-	120,808
Charge for the year	-	6,939	5,999	12,938
At 31 March 2025	-	127,747	5,999	133,746
Carrying amount
At 31 March 2025	2,210	26,480	33,996	62,686
At 31 March 2024	2,210	18,419	39,995	60,624

Included within the net book value of land and buildings above is £2,210 (2024 - £2,210) in respect of long leasehold land and buildings.
 

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stock

	2025 £	2024 £
Other inventories	500	-

7

Debtors

Current	2025 £	2024 £
Trade debtors	7,925	7,431
Prepayments	853	772
Other debtors	367	1,328
	9,145	9,531

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	16,929	8,044
Taxation and social security	98,893	56,499
Other creditors	105,996	23,286
	221,818	87,829

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

10

Dividends

		2025		2024
		£		£
Interim dividend of £171,937.00 (2024 - £166,760.00) per ordinary share		171,937		166,762

11	Related party transactions

Springfield Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	24,000	24,000
Contributions paid to money purchase schemes	120,000	80,000
	144,000	104,000