REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FREELAND HORTICULTURE LTD |
REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FOR |
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FREELAND HORTICULTURE LTD |
FREELAND HORTICULTURE LTD (REGISTERED NUMBER: 04015968) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FREELAND HORTICULTURE LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants & Statutory Auditors |
7 Lower Brook Street |
Oswestry |
Shropshire |
SY11 2HG |
FREELAND HORTICULTURE LTD (REGISTERED NUMBER: 04015968) |
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BALANCE SHEET |
30 SEPTEMBER 2019 |
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30.9.19 | 30.9.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
on its behalf by: |
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FREELAND HORTICULTURE LTD (REGISTERED NUMBER: 04015968) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Freeland Horticulture Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements are for the individual entity only. |
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The financial statements are presented in Sterling (£) rounded to the nearest £1. |
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Going Concern |
The financial statements have been prepared on a going concern basis as the directors are of the opinion that the |
Company will be able to pay its liabilities as and when they fall due. |
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The directors have reached this conclusion after assessing the Company's future cash and funding requirements along |
with budgets and medium term plans. |
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Tangible fixed assets and depreciation |
Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Cost includes the original |
purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended |
use. |
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Depreciation |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual |
value based on prices prevailing at the date of acquisition of each asset evenly over its expected useful life, as |
follows: |
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Plant and machinery - 12.5% - 50% |
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Motor vehicles - 25% |
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Computer and office equipment - 25% - 33% |
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Leasehold improvements - length of lease |
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No depreciation is provided for on the Freehold land. |
FREELAND HORTICULTURE LTD (REGISTERED NUMBER: 04015968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each |
product to its present location and condition, as follows: |
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Raw materials, consumables and goods for resale | - purchase cost on a first in, first out basis |
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Work in progress and finished goods |
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cost of direct materials and labour plus
attributable
overheads based on a normal level of activity . |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
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Operating lease commitments |
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the |
lease term. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Improvements |
to |
Freehold | leasehold | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 October 2018 |
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Additions |
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Disposals |
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At 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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FREELAND HORTICULTURE LTD (REGISTERED NUMBER: 04015968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Computer |
and |
Motor | office |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2018 |
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Additions |
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Disposals | ( |
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At 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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( |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Amounts due from related parties | - | 5,322 |
Tax |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Amounts due to related |
parties |
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Accrued expenses |
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FREELAND HORTICULTURE LTD (REGISTERED NUMBER: 04015968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The company's bankers hold the following security: a debenture including a fixed charge over all freehold and |
leasehold property including fixtures and fittings, fixed plant and machinery and book and other debts; along with a |
floating charge over all other assets. |
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The bank also holds a fixed charge over the deposit accounts of the company in respect of any monies, deposited |
with the company's bankers to cover performance bonds, amounts deposited at the year end totalled £350,000. |
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The hire purchase liabilities are secured on the assets to which they relate. |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to |
the tax authorities and assist with the preparation of the financial statements. |
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12. | PARENT COMPANY |
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The parent company is
Rosedale Nursery, College Road, Hextable, K ent, BR8 7LT. |