HILLSIDE NURSERY LTD


Directors	Brian Rankin
	Christine Rankin
	David Rankin
	Karen Palmer


Registered Address	328 Doagh Road
	Newtownabbey
	BT36 6XL


Registered Number	NI656300 (Northern Ireland)

Notes to the Financial Statements
for the year ended 31 October 2025

1.	Accounting policies

	Statutory information
	Hillside Nursery Ltd is a private company limited by guarantee and is incorporated and registered in Northern Ireland under company registration number NI656300. The registered office is 328 Doagh Road, Newtownabbey, BT36 6XL. The principal activity of the company is the running of a retail store.

	Statement of compliance
	The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:

	Functional and presentation currency
	The Company's functional and presentational currency is GBP.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Revenue from sale of goods
	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. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: * the amount of revenue can be measured reliably; * it is probable that the Company will receive the consideration due under the contract; * the stage of completion of the contract at the end of the reporting period can be measured reliably; and * the costs incurred and the costs to complete the contract can be measured reliably.

Revenue from sale of goods

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Borrowing costs
	All borrowing costs are recognised in profit or loss in the year in which they are incurred.

	Finance costs
	Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

	Foreign currency translation
	Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Foreign currency translation

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

	Current taxation
	Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Current taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

	Intangible assets
	Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

	Tangible fixed assets and depreciation
	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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. 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. Depreciation is provided on the following basis:

Tangible fixed assets and depreciation

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

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.

Depreciation is provided on the following basis:


		Straight line (years)
	Plant and machinery	5
	Fixtures and fittings	4
	Office Equipment	4

	Stocks and work in progress
	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.

Stocks and work in progress

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.

	Trade and other debtors
	Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

	Cash and cash equivalents
	Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

	Trade and other creditors
	Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

	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.

	Share capital
	Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	24		28

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 November 24	709,165	709,165
At 31 October 25	709,165	709,165
Amortisation and impairment
At 01 November 24	212,750	212,750
Charge for year	35,458	35,458
At 31 October 25	248,208	248,208
Net book value
At 31 October 25	460,957	460,957
At 31 October 24	496,415	496,415

4.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 November 24	29,995	114,692	6,789	151,476
Additions	-	6,935	-	6,935
At 31 October 25	29,995	121,627	6,789	158,411
Depreciation and impairment
At 01 November 24	14,998	31,443	5,940	52,381
Charge for year	5,998	21,027	849	27,874
At 31 October 25	20,996	52,470	6,789	80,255
Net book value
At 31 October 25	8,999	69,157	-	78,156
At 31 October 24	14,997	83,249	849	99,095

5.	Stocks

	2025	2024
	£	£
Finished goods	385,000	390,989
Total	385,000	390,989

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	-	120
Other debtors	174,805	-
Prepayments and accrued income	38,750	42,250
Total	213,555	42,370

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	669,490	549,200
Bank borrowings and overdrafts	180,414	174,984
Taxation and social security	92,809	83,213
Other creditors	2,696	2,822
Accrued liabilities and deferred income	47,420	35,042
Total	992,829	845,261

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	47,714	76,548
Total	47,714	76,548

9.	Creditors: amounts due after 5 years
	At the balance sheet date, the company had the following borrowings: Amounts falling due within one year - Loans from third parties: £26,460 (2024: £26,484) Amounts falling due within 1-2 years - Loans from third parties: £18,575 (2024: £24,612) Amounts falling due within 2-5 years - Loans from third parties: £29,139 (2024: £49,391) Amounts falling due after more than 5 years - Loans from third parties: £Nil (2024: £2,545)

Creditors: amounts due after 5 years

At the balance sheet date, the company had the following borrowings:
Amounts falling due within one year - Loans from third parties: £26,460 (2024: £26,484)
Amounts falling due within 1-2 years - Loans from third parties: £18,575 (2024: £24,612)
Amounts falling due within 2-5 years - Loans from third parties: £29,139 (2024: £49,391)
Amounts falling due after more than 5 years - Loans from third parties: £Nil (2024: £2,545)

10.	Financial instruments
	The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and financial liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and cash and cash equivalents. These basic financial instruments are initially recognised at transaction price and subsequently measured at amortised cost only where applicable. The Company does not enter into complex financial instrument arrangements, derivative financial instruments, or hedging transactions.

10.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and financial liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and cash and cash equivalents.

These basic financial instruments are initially recognised at transaction price and subsequently measured at amortised cost only where applicable. The Company does not enter into complex financial instrument arrangements, derivative financial instruments, or hedging transactions.

11.	Pension commitments
	The company operates a defined contribution pension scheme for employees. 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 £12,937 (2024 - £13,879). At the balance sheet date, unpaid contributions of £2,696. (2023 - £2,822) were due to the fund. They are included in other creditors.

11.

Pension commitments

The company operates a defined contribution pension scheme for employees. 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 £12,937 (2024 - £13,879).
At the balance sheet date, unpaid contributions of £2,696. (2023 - £2,822) were due to the fund. They are included in other creditors.

12.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Brian Rankin	0	15,185	0	15,185
Christine Rankin	0	15,185	0	15,185
David Rankin	0	88,903	0	88,903
Karen Palmer	0	55,483	0	55,483
	0	174,756	0	174,756


	The above loans are unsecured and repayable on demand. Interest is charged at the HMRC official interest rate.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		460,957		496,415
Tangible assets	4		78,156		99,095
			539,113		595,510
Current assets
Stocks	5	385,000		390,989
Debtors	6	213,555		42,370
Cash at bank and on hand		115,116		135,981
		713,671		569,340
Creditors amounts falling due within one year	7	(992,829)		(845,261)
Net current assets (liabilities)			(279,158)		(275,921)
Total assets less current liabilities			259,955		319,589
Creditors amounts falling due after one year	8		(47,714)		(76,548)
Net assets			212,241		243,041
Capital and reserves
Called up share capital			102		102
Profit and loss account			212,139		242,939
Shareholders' funds			212,241		243,041