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REGISTERED NUMBER: SC079988 (Scotland)











































Berwick-Upon-Tweed Garden Centre Limited

Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Year Ended 30th November 2021






Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)






Contents of the Financial Statements
for the year ended 30th November 2021




Page

Company information 1

Strategic report 2

Report of the directors 3 to 4

Report of the independent auditors 5 to 8

Income statement 9

Other comprehensive income 10

Balance sheet 11

Statement of changes in equity 12

Cash flow statement 13

Notes to the cash flow statement 14

Notes to the financial statements 15 to 24


Berwick-Upon-Tweed Garden Centre Limited

Company Information
for the year ended 30th November 2021







Directors: N G Crabbie
Miss K S Crabbie
Miss F C Kherian
P Hourigan



Secretary: Mrs G I C T Crabbie



Registered office: Westerside Farm
Coldingham
Eyemouth
Berwickshire
TD14 5QE



Business address: Dunbar Garden Centre
Spott Road
Dunbar
East Lothian
EH42 1BF



Registered number: SC079988 (Scotland)



Senior statutory auditor: Gillian Adamson BSC (Hons) CA CTA



Auditors: Rennie Welch Audit Limited
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Strategic Report
for the year ended 30th November 2021

The directors present their strategic report for the year ended 30th November 2021.

Review of business
Despite the Covid 19 pandemic this was another successful year for Berwick-Upon-Tweed Garden Centre Limited. The three garden centres comprising the group saw improving turnover levels. The Berwick Garden Centre saw a 17% rise in turnover, Dunbar achieved a 19% increase in their turnover whilst Plantsplus obtained a 30% increase. With reduced government support and periods of strong trading when operational, the operating profit has decreased by 1% compared to last year, which was somewhat expected with the reduction in support schemes like the Job Retention Scheme's.

Principal risks and uncertainties
As usual, the principle risk to the company emanates from local competition. Plantsplus Garden Centre has three Dobbies' garden centres all within a radius of 20 miles while there also remains local competition at the other sites. There is also recognised competition from websites and Berwick-Upon-Tweed Garden Centre Limited have adapted to accept online sales for home delivery and click and collect services.

The company has continued to make a profit throughout the corona virus pandemic. Restrictions have made operating conditions extremely difficult but the business has enjoyed strong trading when the centres have been operational. Overall financial performance has been good and is expected to be so in the coming 12 months.

Development and performance
The results for the year show a profit on ordinary activities before tax of £1,170,726 (2020: £1,165,610). The Board are satisfied with the performance for the financial year considering the COVID disruptions.

The board monitor the progress of the company by the following KPIs:

Turnover - 2021 - £8,621,238 2020 - £7,105,392
GP - 2021 - 47 % 2020 - 52%

On behalf of the board:





N G Crabbie - Director


16th August 2022

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Report of the Directors
for the year ended 30th November 2021

The directors present their report with the financial statements of the company for the year ended 30th November 2021.

Principal activity
The principal activity of the company in the year under review was that of the operation of garden centres.

Dividends
No interim dividend was paid during the year. The directors recommend a final dividend of £7.00 per share.

The total distribution of dividends for the year ended 30th November 2021 will be £130,122.

Events since the end of the year
Information relating to events since the end of the year is given in the notes to the financial statements.

Directors
The directors shown below have held office during the whole of the period from 1st December 2020 to the date of this report.

N G Crabbie
Miss K S Crabbie
Miss F C Kherian

Other changes in directors holding office are as follows:

N A F O Donaghey - resigned 25th March 2021
P Hourigan - appointed 25th March 2021

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic report, the Report of the directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Report of the Directors
for the year ended 30th November 2021


Auditors
The auditors, Rennie Welch Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





N G Crabbie - Director


16th August 2022

Report of the Independent Auditors to the Members of
Berwick-Upon-Tweed Garden Centre Limited

Opinion
We have audited the financial statements of Berwick-Upon-Tweed Garden Centre Limited (the 'company') for the year ended 30th November 2021 which comprise the Income statement, Other comprehensive income, Balance sheet, Statement of changes in equity, Cash flow statement and Notes to the cash flow statement, Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th November 2021 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic report and the Report of the directors, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic report and the Report of the directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic report and the Report of the directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Berwick-Upon-Tweed Garden Centre Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Report of the directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
- the directors were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies' exemption from the requirement to prepare a
Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of directors' responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Berwick-Upon-Tweed Garden Centre Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified
- The nature of the industry and sector, control environment and business performance.
- Any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:
-- Identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance.
-- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected
or alleged fraud.
-- The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and have not identified any significant areas with potential fraud to occur. We hold this basis on that the company is classified under the Companies Act 2006 as a medium company for reporting anomalies would be detected.

Further to this no non-routine financial accounting has taken place from which we would expect an increase of fraud or error to occur.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Report of the Independent Auditors to the Members of
Berwick-Upon-Tweed Garden Centre Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Gillian Adamson BSC (Hons) CA CTA (Senior Statutory Auditor)
for and on behalf of Rennie Welch Audit Limited
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

16th August 2022

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Income Statement
for the year ended 30th November 2021

2021 2020
Notes £    £   

Turnover 3 8,621,238 7,105,392

Cost of sales (4,533,041 ) (3,399,090 )
Gross profit 4,088,197 3,706,302

Administrative expenses (2,912,492 ) (2,596,230 )
1,175,705 1,110,072

Other operating income 52,466 132,117
Operating profit 5 1,228,171 1,242,189

Interest receivable and similar income 7,933 3,628
1,236,104 1,245,817

Interest payable and similar expenses 6 (65,378 ) (80,207 )
Profit before taxation 1,170,726 1,165,610

Tax on profit 7 (232,722 ) (120,123 )
Profit for the financial year 938,004 1,045,487

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Other Comprehensive Income
for the year ended 30th November 2021

2021 2020
Notes £    £   

Profit for the year 938,004 1,045,487


Other comprehensive income - -
Total comprehensive income for the
year

938,004

1,045,487

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Balance Sheet
30th November 2021

2021 2020
Notes £    £    £    £   
Fixed assets
Intangible assets 9 - 13,000
Tangible assets 10 6,073,960 5,926,602
6,073,960 5,939,602

Current assets
Stocks 11 1,507,280 1,277,193
Debtors 12 151,149 120,712
Cash at bank and in hand 1,419,384 1,809,710
3,077,813 3,207,615
Creditors
Amounts falling due within one year 13 1,217,725 1,143,779
Net current assets 1,860,088 2,063,836
Total assets less current liabilities 7,934,048 8,003,438

Creditors
Amounts falling due after more than one
year

14

(2,558,274

)

(3,479,893

)

Provisions for liabilities 18 (93,116 ) (48,769 )
Net assets 5,282,658 4,474,776

Capital and reserves
Called up share capital 19 28,916 28,916
Share premium 20 10,000 10,000
Retained earnings 20 5,243,742 4,435,860
Shareholders' funds 5,282,658 4,474,776

The financial statements were approved by the Board of Directors and authorised for issue on 16th August 2022 and were signed on its behalf by:





N G Crabbie - Director


Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Statement of Changes in Equity
for the year ended 30th November 2021

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1st December 2019 28,916 3,477,121 10,000 3,516,037

Changes in equity
Dividends - (86,748 ) - (86,748 )
Total comprehensive income - 1,045,487 - 1,045,487
Balance at 30th November 2020 28,916 4,435,860 10,000 4,474,776

Changes in equity
Dividends - (130,122 ) - (130,122 )
Total comprehensive income - 938,004 - 938,004
Balance at 30th November 2021 28,916 5,243,742 10,000 5,282,658

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Cash Flow Statement
for the year ended 30th November 2021

2021 2020
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,415,153 1,558,008
Interest paid (62,474 ) (74,367 )
Interest element of hire purchase
payments paid

(2,904

)

(5,840

)
Tax paid (226,394 ) (157,728 )
Net cash from operating activities 1,123,381 1,320,073

Cash flows from investing activities
Purchase of tangible fixed assets (493,537 ) (572,801 )
Interest received 7,933 3,628
Net cash from investing activities (485,604 ) (569,173 )

Cash flows from financing activities
New loans in year - 3,700,000
Loan repayments in year (881,121 ) (2,981,356 )
Capital repayments in year (16,860 ) (21,276 )
Equity dividends paid (130,122 ) (86,748 )
Net cash from financing activities (1,028,103 ) 610,620

(Decrease)/increase in cash and cash equivalents (390,326 ) 1,361,520
Cash and cash equivalents at
beginning of year

2

1,809,710

448,190

Cash and cash equivalents at end of
year

2

1,419,384

1,809,710

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Cash Flow Statement
for the year ended 30th November 2021

1. Reconciliation of profit before taxation to cash generated from operations
2021 2020
£    £   
Profit before taxation 1,170,726 1,165,610
Depreciation charges 359,179 328,485
Government grants (1,382 ) (1,780 )
Finance costs 65,378 80,207
Finance income (7,933 ) (3,628 )
1,585,968 1,568,894
Increase in stocks (230,087 ) (71,678 )
(Increase)/decrease in trade and other debtors (30,437 ) 17,194
Increase in trade and other creditors 89,709 43,598
Cash generated from operations 1,415,153 1,558,008

2. Cash and cash equivalents

The amounts disclosed on the Cash flow statement in respect of cash and cash equivalents are in respect of these Balance sheet amounts:

Year ended 30th November 2021
30.11.21 1.12.20
£    £   
Cash and cash equivalents 1,419,384 1,809,710
Year ended 30th November 2020
30.11.20 1.12.19
£    £   
Cash and cash equivalents 1,809,710 448,190


3. Analysis of changes in net debt

At 1.12.20 Cash flow At 30.11.21
£    £    £   
Net cash
Cash at bank and in hand 1,809,710 (390,326 ) 1,419,384
1,809,710 (390,326 ) 1,419,384
Debt
Finance leases (56,312 ) 16,860 (39,452 )
Debts falling due within 1 year (158,169 ) (23,802 ) (181,971 )
Debts falling due after 1 year (3,435,629 ) 904,923 (2,530,706 )
(3,650,110 ) 897,981 (2,752,129 )
Total (1,840,400 ) 507,655 (1,332,745 )

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements
for the year ended 30th November 2021

1. Statutory information

Berwick-Upon-Tweed Garden Centre Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is the amount derived from ordinary activities, and is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances, and is stated net of VAT.

Revenue from sale of goods is recognised when all the following conditions are satisfied:
- the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- 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 economic benefits associated with the transaction will flow to the company; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over it's estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Land and buildings - 5% on cost, 3% on cost and 2% on cost
Plant and machinery - 33.33% on cost, 25% on reducing balance, 10% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 25% on reducing balance

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

Government grants
Government grants in respect of Coronavirus assistance schemes are recognised in the period they are received and are charged through the income statement in that year.

Other government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.

These grants are credited to deferred government grants. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

2. Accounting policies - continued

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down of loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, other debtors, trade creditors, other creditors, accruals, bank loans and directors' loans.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction cost, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expenses is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors and other debtors are amounts due from customers for goods sold or services performed in the ordinary course of business. Trade debtors with no stated interest rate are recognised initially at the transaction price. 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.

Trade creditors, other creditors and accruals 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 creditors 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 with no stated interest rate are recognised at the transaction price.

Directors' loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised 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 the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Income Statement in the period in which they are incurred.

Going concern
Despite the very unpredictable development of the Covid-19 pandemic, the director of the company has after extensive planning derived at a conclusion that this event should not have a material impact on the business therefore the going concern of the company is currently not at risk.

3. Turnover

The turnover and profit before taxation are attributable to the one principal activity of the company.


An analysis of turnover by geographical market is given below:


20212020
££
United Kingdom8,621,2387,105,392
8,621,2387,105,392






Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

4. Employees and directors

20212020
££
Wages and salaries1,859,2961,614,414
Social security costs136,683111,991
Other pension costs1,3231,039
1,997,3021,727,444


The average number of employees during the year was as follows:

20212020
150142


Directors' emoluments

20212020
££
Directors' remuneration116,13179,000
Directors' social security costs13,5678,484
Directors' pension contributions to money purchase schemes1,3231,039
131,02188,523

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes21

5. Operating profit

The operating profit is stated after charging:

2021 2020
£    £   
Depreciation - owned assets 333,471 302,776
Depreciation - assets on hire purchase contracts 12,708 12,708
Goodwill amortisation 13,000 13,000
Auditors' remuneration 8,800 8,800
Cost of stocks recognised as an expense 4,533,041 3,399,090

6. Interest payable and similar expenses
2021 2020
£    £   
Bank interest 62,474 74,367
Hire purchase interest 2,904 5,840
65,378 80,207

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2021 2020
£    £   
Current tax:
UK corporation tax 188,748 226,767
Corporation tax adjustment re previous year (373 ) 2,180
Total current tax 188,375 228,947

Deferred tax 44,347 (108,824 )
Tax on profit 232,722 120,123

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2021 2020
£    £   
Profit before tax 1,170,726 1,165,610
Profit multiplied by the standard rate of corporation tax in the UK of
19% (2020 - 19%)

222,438

221,466

Effects of:
Capital allowances in excess of depreciation (33,690 ) -
Depreciation in excess of capital allowances - 5,301
Adjustments to tax charge in respect of previous periods (373 ) 2,180
Deferred tax expense 44,347 (108,824 )
Total tax charge 232,722 120,123

8. Dividends
2021 2020
£    £   
Final 130,122 86,748

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

9. Intangible fixed assets
Goodwill
£   
Cost
At 1st December 2020
and 30th November 2021 65,000
Amortisation
At 1st December 2020 52,000
Amortisation for year 13,000
At 30th November 2021 65,000
Net book value
At 30th November 2021 -
At 30th November 2020 13,000

10. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1st December 2020 6,432,078 929,994 1,254,885 69,724 8,686,681
Additions 122,735 205,128 140,260 25,414 493,537
At 30th November 2021 6,554,813 1,135,122 1,395,145 95,138 9,180,218
Depreciation
At 1st December 2020 1,321,394 521,791 880,442 36,452 2,760,079
Charge for year 126,182 122,518 85,641 11,838 346,179
At 30th November 2021 1,447,576 644,309 966,083 48,290 3,106,258
Net book value
At 30th November 2021 5,107,237 490,813 429,062 46,848 6,073,960
At 30th November 2020 5,110,684 408,203 374,443 33,272 5,926,602

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

10. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
Cost
At 1st December 2020
and 30th November 2021 127,000
Depreciation
At 1st December 2020 49,773
Charge for year 12,708
At 30th November 2021 62,481
Net book value
At 30th November 2021 64,519
At 30th November 2020 77,227

11. Stocks
2021 2020
£    £   
Stocks 1,507,280 1,277,193

12. Debtors: amounts falling due within one year
2021 2020
£    £   
Trade debtors 378 546
Other debtors 125,873 106,487
Prepayments 24,898 13,679
151,149 120,712

13. Creditors: amounts falling due within one year
2021 2020
£    £   
Bank loans and overdrafts (see note 15) 181,971 158,169
Hire purchase contracts (see note 16) 15,623 16,860
Trade creditors 612,509 515,047
Tax 188,748 226,767
VAT 61,833 74,957
Other creditors 52,544 46,290
Directors' current accounts 80,899 80,899
Accrued expenses 22,525 23,408
Deferred government grants 1,073 1,382
1,217,725 1,143,779

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

14. Creditors: amounts falling due after more than one year
2021 2020
£    £   
Bank loans (see note 15) 2,530,706 3,435,629
Hire purchase contracts (see note 16) 23,829 39,452
Deferred government grants 3,739 4,812
2,558,274 3,479,893

15. Loans

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 181,971 158,169

Amounts falling due between one and two years:
Bank loans - 1-2 years 185,876 162,775
Covid loan - 700,000
185,876 862,775

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,343,694 2,568,310

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after five years 1,136 4,544

16. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2021 2020
£    £   
Net obligations repayable:
Within one year 15,623 16,860
Between one and five years 23,829 39,452
39,452 56,312

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

17. Secured debts

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 2,712,677 3,593,798
Hire purchase contracts 39,452 56,312
2,752,129 3,650,110

Hallhill Development Limited hold security over all and whole the subjects lying to the east of Spott Road, Hallhill, Dunbar.

Royal Bank of Scotland PLC hold security over all and whole the subjects lying to the east of Spott Road, Hallhill, Dunbar.

Clydesdale Bank PLC hold security over the below noted assets:

- A floating charge over all of the assets in the business.

- All the property comprised in the freehold land known as Horton Grange, Berwick Hill Road, Newcastle-Upon-Tyne.

- All the property comprised in the freehold land lying to the north west of Millfield Place, East Ord, Berwick.

- All and whole the subjects lying to the east of Spott Road, Hallhill, Dunbar.

Hire purchase contracts are secured against the assets to which they relate.

18. Provisions for liabilities
2021 2020
£    £   
Deferred tax 93,116 48,769

Deferred
tax
£   
Balance at 1st December 2020 48,769
Charge to Income statement during year 44,347
Balance at 30th November 2021 93,116

19. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
28,916 Ordinary £1 28,916 28,916

Berwick-Upon-Tweed Garden Centre Limited (Registered number: SC079988)

Notes to the Financial Statements - continued
for the year ended 30th November 2021

20. Reserves
Retained Share
earnings premium Totals
£    £    £   

At 1st December 2020 4,435,860 10,000 4,445,860
Profit for the year 938,004 938,004
Dividends (130,122 ) (130,122 )
At 30th November 2021 5,243,742 10,000 5,253,742

21. Capital commitments
2021 2020
£    £   
Contracted but not provided for in the
financial statements 85,000 -

22. Post balance sheet events

Since the year end, on 19th July 2022, a dividend of £7.00 per share has been declared and paid.