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REGISTERED NUMBER: 00775300 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 September 2023

for

Gordale Nurseries Limited

Gordale Nurseries Limited (Registered number: 00775300)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Gordale Nurseries Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: P Nicholson



SECRETARY: G Nicholson



REGISTERED OFFICE: Chester High Road
Burton
South Wirral
CH64 8TF



REGISTERED NUMBER: 00775300 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Michael Forshaw, FCA



AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Gordale Nurseries Limited (Registered number: 00775300)

Strategic Report
for the Year Ended 30 September 2023

The director presents his strategic report for the year ended 30 September 2023.

REVIEW OF BUSINESS
The company has had a successful year in line with expectations. Turnover for the year has increased by £2,073,508 (12.49%) to £18,681,239 (2022 - £16,607,731).

Gross profit margins decreased to 24.6% (2022 - 27.6%). This has kept the company in a position to remain competitive and give good value to its customers along with achieving the desired level of income to meet its staff and overhead costs.

The company has made a profit before tax of £2,376,437 (2022 - £2,479,719). This is in line with targets set by the director.

Future developments
Given that the company has substantial reserves the director is confident that the business is in a strong position to maintain its profitability in the forthcoming year through continued investment in the site.

Matters of strategic importance
The core business strategy is to develop the attractiveness of the site by investing in the infrastructure to increase footfall.

Key performance indicators
2023 2022

Gross profit % - Nursery 45.92 46.45
Gross profit % - Garage 6.97 5.59
Net profit % 9.8 15.09
Stock ratio % 8.31 11.17


The director believes they have in place a business plan which will maximise the company's' profits going forward and expect the success of the company to continue into future years.

PRINCIPAL RISKS AND UNCERTAINTIES
The major risk to the company is the impact of inflation and rising cost of goods which affect the demand and in turn impact the profitability of the company's operations.The industry has experienced an increase in cost of goods in line with inflation although through the actions of senior management, the company considers that it is in a strong position to see the situation through. The strong performance of the company therefore has not been impacted.

ON BEHALF OF THE BOARD:





P Nicholson - Director


8 April 2024

Gordale Nurseries Limited (Registered number: 00775300)

Report of the Director
for the Year Ended 30 September 2023

The director presents his report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of garden centre sales and petrol sales.

DIVIDENDS
The total distribution of dividends for the year ended 30th September 2023 will be £5,000,000.

FUTURE DEVELOPMENTS
The future developments required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 has been included in the separate Strategic Report in accordance with section 414C (11) of the Companies Act 2006.

DIRECTOR
P Nicholson held office during the whole of the period from 1 October 2022 to the date of this report.

DONATIONS
During the year donations totalling £30,891 (2022: £27,096) have been made to a number of charitable causes.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Gordale Nurseries Limited (Registered number: 00775300)

Report of the Director
for the Year Ended 30 September 2023


AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



P Nicholson - Director


8 April 2024

Report of the Independent Auditors to the Members of
Gordale Nurseries Limited

Opinion
We have audited the financial statements of Gordale Nurseries Limited (the 'company') for the year ended 30 September 2023 which comprise the Statement of 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 30 September 2023 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Gordale Nurseries 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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect
fraud;
- Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
- Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with
applicable law and regulations;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations.

Our audit did not identify any significant matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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
Gordale Nurseries 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.




Michael Forshaw, FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

8 April 2024

Gordale Nurseries Limited (Registered number: 00775300)

Statement of Comprehensive Income
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £ £

TURNOVER 4 18,681,239 16,607,731

Cost of sales 14,079,390 12,025,199
GROSS PROFIT 4,601,849 4,582,532

Administrative expenses 2,674,140 2,391,587
1,927,709 2,190,945

Other operating income 267,060 254,434
OPERATING PROFIT 6 2,194,769 2,445,379

Interest receivable and similar income 181,666 34,340
PROFIT BEFORE TAXATION 2,376,435 2,479,719

Tax on profit 7 546,639 478,307
PROFIT FOR THE FINANCIAL YEAR 1,829,796 2,001,412

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,829,796

2,001,412

Gordale Nurseries Limited (Registered number: 00775300)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 3,599,660 3,457,434
Investment property 10 3,479,047 3,470,727
7,078,707 6,928,161

CURRENT ASSETS
Stocks 11 1,552,432 1,854,293
Debtors 12 377,873 180,248
Cash at bank and in hand 8,087,917 11,728,455
10,018,222 13,762,996
CREDITORS
Amounts falling due within one year 13 1,737,794 2,167,279
NET CURRENT ASSETS 8,280,428 11,595,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,359,135

18,523,878

PROVISIONS FOR LIABILITIES 15 54,963 49,502
NET ASSETS 15,304,172 18,474,376

CAPITAL AND RESERVES
Called up share capital 16 6,000 6,000
Retained earnings 17 15,298,172 18,468,376
SHAREHOLDERS' FUNDS 15,304,172 18,474,376

The financial statements were approved by the director and authorised for issue on 8 April 2024 and were signed by:





P Nicholson - Director


Gordale Nurseries Limited (Registered number: 00775300)

Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 October 2021 6,000 16,541,364 16,547,364

Changes in equity
Dividends - (74,400 ) (74,400 )
Total comprehensive income - 2,001,412 2,001,412
Balance at 30 September 2022 6,000 18,468,376 18,474,376

Changes in equity
Dividends - (5,000,000 ) (5,000,000 )
Total comprehensive income - 1,829,796 1,829,796
Balance at 30 September 2023 6,000 15,298,172 15,304,172

Gordale Nurseries Limited (Registered number: 00775300)

Cash Flow Statement
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 1,977,394 2,377,774
Tax paid (375,001 ) (828,115 )
Net cash from operating activities 1,602,393 1,549,659

Cash flows from investing activities
Purchase of tangible fixed assets (325,957 ) (298,311 )
Purchase of investment property (8,320 ) -
Sale of tangible fixed assets - 1,083
Interest received 181,666 34,340
Net cash from investing activities (152,611 ) (262,888 )

Cash flows from financing activities
Amount introduced by directors - (1,200 )
Amount withdrawn by directors (90,320 ) (104,307 )
Equity dividends paid (5,000,000 ) (74,400 )
Net cash from financing activities (5,090,320 ) (179,907 )

(Decrease)/increase in cash and cash equivalents (3,640,538 ) 1,106,864
Cash and cash equivalents at beginning of
year

2

11,728,455

10,621,591

Cash and cash equivalents at end of year 2 8,087,917 11,728,455

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Cash Flow Statement
for the Year Ended 30 September 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.9.23 30.9.22
£ £
Profit before taxation 2,376,435 2,479,719
Depreciation charges 170,769 91,964
Loss on disposal of fixed assets 12,504 2,467
Finance income (181,666 ) (34,340 )
2,378,042 2,539,810
Decrease/(increase) in stocks 301,861 (434,706 )
Increase in trade and other debtors (197,167 ) (100,132 )
(Decrease)/increase in trade and other creditors (505,342 ) 372,802
Cash generated from operations 1,977,394 2,377,774

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 30 September 2023
30.9.23 1.10.22
£ £
Cash and cash equivalents 8,087,917 11,728,455
Year ended 30 September 2022
30.9.22 1.10.21
£ £
Cash and cash equivalents 11,728,455 10,621,591


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.22 Cash flow At 30.9.23
£ £ £
Net cash
Cash at bank and in hand 11,728,455 (3,640,538 ) 8,087,917
11,728,455 (3,640,538 ) 8,087,917
Total 11,728,455 (3,640,538 ) 8,087,917

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Gordale Nurseries Limited is a private company, limited by shares , registered in England and Wales. 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, including the provisions of the Large and Medium sized Companies and Groups (Accounts and Reports) Regulations 2008. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents sales of goods excluding value added tax recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

Land included within freehold property is not depreciated.

Investment property
Investment property is appropriately valued at cost which is deemed the fair value of the asset per director P A Nicholson. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

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.

Foreign currencies
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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

Financial instruments
Financial instruments are recognised 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 instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially recognised 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, the company's contractual obligations are discharged, cancelled, or they expire.

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

There are no key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. TURNOVER

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

An analysis of turnover by class of business is given below:

30.9.23 30.9.22
£ £
Nursery sales 8,470,883 8,942,733
Garage sales 10,210,356 7,664,998
18,681,239 16,607,731

5. EMPLOYEES AND DIRECTORS
30.9.23 30.9.22
£ £
Wages and salaries 1,519,894 1,363,096
Social security costs 109,241 96,046
Other pension costs 27,482 24,220
1,656,617 1,483,362

The average number of employees during the year was as follows:
30.9.23 30.9.22

Production staff 85 85

30.9.23 30.9.22
£ £
Director's remuneration 7,956 7,956

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

Money purchase schemes 1 1

6. OPERATING PROFIT

The operating profit is stated after charging:

30.9.23 30.9.22
£ £
Hire of plant and machinery 9,079 12,512
Depreciation - owned assets 170,771 91,964
Loss on disposal of fixed assets 12,504 2,467
Auditors' remuneration 11,190 16,112

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.23 30.9.22
£ £
Current tax:
UK corporation tax 541,178 471,268

Deferred tax 5,461 7,039
Tax on profit 546,639 478,307

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

30.9.23 30.9.22
£ £
Profit before tax 2,376,435 2,479,719
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

594,109

471,147

Effects of:
Capital allowances in excess of depreciation (68,505 ) (348 )
Loss/(Profit) on disposal of assets 12,504 469
Furnished holiday letting expenses 3,070 -
income

Deferred taxation 5,461 7,039
in previous period
Total tax charge 546,639 478,307

8. DIVIDENDS
30.9.23 30.9.22
£ £
Ordinary shares of 1 each
Final 5,000,000 40,000
A Ordinary share of 1
Final - 34,400
5,000,000 74,400

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. TANGIBLE FIXED ASSETS



Freehold

Plant and
Fixtures
&

Motor

Computer

PropertyMachineryfittingsVehiclesEquipmentTotals
£   £   £   £   £   £   
COST
At 1 October 20223,734,1951,517,219732,69050,739186,5196,221,362
Additions181,11235,90213,62653,50941,808325,957
Disposals-(8,859)(24,251)-(34,077)(67,187)
At 30 September 20233,915,3071,544,262722,065104,248194,2506,480,132
DEPRECIATION
At 1 October 2022579,9331,353,305664,78643,967121,9372,763,928
Charge for the year40,33928,54134,57315,06952,247170,769
Eliminated on Disposal-(7,403)(18,504)-(28,320)(54,227)
At 30 September 2023620,2721,374,443680,85559,036145,8642,880,470
NET BOOK VALUE
At 30 September 20233,295,035169,81941,21045,21248,3863,599,662
At 30 September 20223,154,262163,91467,9046,77264,5823,457,434

10. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 October 2022 3,470,727
Additions 8,320
At 30 September 2023 3,479,047
NET BOOK VALUE
At 30 September 2023 3,479,047
At 30 September 2022 3,470,727

The director believes the value of investment property is not materially different to the original purchase cost of the property.

11. STOCKS
30.9.23 30.9.22
£ £
Nursery stock 1,524,818 1,821,775
Garage stock 27,614 32,518
1,552,432 1,854,293

Stock recognised in cost of sales during the year as an expense amounted to £13,777,526 (2022 - £12,459,905).

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

12. DEBTORS
30.9.23 30.9.22
£ £
Amounts falling due within one year:
Trade debtors 2,869 639
Other debtors - 6,210
VAT - 93
Prepayments and accrued income 151,384 173,306
154,253 180,248

Amounts falling due after more than one year:
Amounts owed by group undertakings 223,620 -

Aggregate amounts 377,873 180,248

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£ £
Trade creditors 895,549 1,451,704
Corporation tax 387,604 221,427
Social security and other taxes 146,138 150,687
Other creditors 70,027 32,624
Director's current account - 90,320
Accrued expenses 238,476 220,517
1,737,794 2,167,279

14. FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and loans to related parties. Trade and other debtors are measured at transaction price less any impairment. Trade and other creditors are measured at 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.

15. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£ £
Deferred tax 54,963 49,502

Deferred tax
£
Balance at 1 October 2022 49,502
Provided during year 5,461
Balance at 30 September 2023 54,963

Deferred tax represents the tax charge on the timing difference between the value of the company's assets for tax purposes versus the value in the financial statements.

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £ £
5,999 Ordinary 1 5,999 5,999
1 A Ordinary 1 1 1
6,000 6,000

The company's ordinary shares and 'A' ordinary shares, carry no right to fixed income and each carry the right to one vote at general meetings of the company.

17. RESERVES
Retained
earnings
£

At 1 October 2022 18,468,376
Profit for the year 1,829,796
Dividends (5,000,000 )
At 30 September 2023 15,298,172

Retained earnings includes all current and prior period retained profits and losses net of distributions to the shareholders.

18. PENSION COMMITMENTS

The company operates a defined contribution scheme on behalf of its directors and employees. The scheme is held in a separately administered fund from the company. Contributions in the year amounted to £27,482 (2022 - £22,220). There were contributions of £6,673 were outstanding at the year end (2022 - £nil).

19. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£ £
P Nicholson
Balance outstanding at start of year - 120,585
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Gordale Nurseries Limited (Registered number: 00775300)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

20. RELATED PARTY DISCLOSURES

Other operating income includes rent of £12,000 (2022 - £6,998) received from P A Nicholson, the company's director.

Included in administrative expenses is the sum of £nil (2022 - £20,000) in respect of rent payable by the company for the use of land owned by a Self-Invested Personal Pension Scheme, whose members are P A Nicholson and his wife, Mrs G D Nicholson.

21. CONTROLLING PARTY

The company is a subsidiary undertaking of Hallas Holdings Limited. The ultimate controlling party is P A Nicholson the majority shareholder of Hallas Holdings Limited

The results of the company are consolidated into Hallas Holdings Limited, Gordale Nurseries, Chester High Road, Sutton, South Wirral, CH64 8TF. The consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.