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REGISTERED NUMBER: 04522494 (England and Wales)











Whitacre Garden Centre Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Whitacre Garden Centre Limited (Registered number: 04522494)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Whitacre Garden Centre Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J P Southern
R G Lloyd
H I Lloyd





SECRETARY: S Mewies





REGISTERED OFFICE: 1 Nightingale Cottage
Tamworth Road
Nether Whitacre
Coleshill, Tamworth
Birmingham
B46 2PL





REGISTERED NUMBER: 04522494 (England and Wales)





ACCOUNTANTS: Haines Watts Tamworth Limited
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Whitacre Garden Centre Limited (Registered number: 04522494)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 817,084 788,654

CURRENT ASSETS
Stocks 669,444 808,511
Debtors 5 381,333 489,309
Cash at bank and in hand 426,015 24,396
1,476,792 1,322,216
CREDITORS
Amounts falling due within one year 6 728,651 668,263
NET CURRENT ASSETS 748,141 653,953
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,565,225

1,442,607

PROVISIONS FOR LIABILITIES 151,283 108,361
NET ASSETS 1,413,942 1,334,246

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Capital redemption reserve 46 46
Retained earnings 1,412,896 1,333,200
SHAREHOLDERS' FUNDS 1,413,942 1,334,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Whitacre Garden Centre Limited (Registered number: 04522494)

Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





J P Southern - Director


Whitacre Garden Centre Limited (Registered number: 04522494)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Whitacre Garden Centre 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Land and buildings Leasehold40 Years Straight Line
Fixtures, fittings & equipment10/20% Straight Line
Motor vehicles25% Straight Line

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

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.

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.


Whitacre Garden Centre Limited (Registered number: 04522494)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 87 (2023 - 80 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 231,095 1,382,497 1,613,592
Additions 29,678 200,887 230,565
Disposals - (27,900 ) (27,900 )
At 31 January 2024 260,773 1,555,484 1,816,257
DEPRECIATION
At 1 February 2023 44,472 780,466 824,938
Charge for year 7,472 187,951 195,423
Eliminated on disposal - (21,188 ) (21,188 )
At 31 January 2024 51,944 947,229 999,173
NET BOOK VALUE
At 31 January 2024 208,829 608,255 817,084
At 31 January 2023 186,623 602,031 788,654

Whitacre Garden Centre Limited (Registered number: 04522494)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,215 12,674
Other debtors 367,118 476,635
381,333 489,309

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 385,134 234,115
Taxation and social security 189,731 164,049
Other creditors 153,786 270,099
728,651 668,263

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 500,000 500,000
Between one and five years 583,333 1,083,333
1,083,333 1,583,333

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
250 Ordinary £1 250 250
750 Ordinary A £1 750 750
NIL Ordinary B £0.0001 - -
1,000 1,000

During the financial year, the company repurchased 300 of its Ordinary B share capital at £1 per share.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company repaid loans totalling £75,000 (2023 - £40,050) to the director and shareholder Mr J P Southern. The balance outstanding due to the director at 31 January 2024 was £5,937 (2023 - £80,937 ). No interest is charged and the loans are considered repayable upon demand.

Whitacre Garden Centre Limited (Registered number: 04522494)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


10. RELATED PARTY DISCLOSURES

During the period the company paid rent of £411,250 (2023: £363,107) to the Pointon York Self Invested Personal Pension, a scheme established for the benefit of Mr J P Southern. During the period the company paid rent of £58,750 (2023 : £51,872) to the Pointon York Self Invested Personal Pension, a scheme established for the benefit of Ms S A Mewies, wife of Mr J P Southern.


During the year the company received loans totalling £nil (2023 - 227,500) from Woodside Corporate Finance Ltd, a company which Mr J P Southern is also a director and shareholder. The amount outstanding at 31 January 2024 was £75,000 (2023 - 90,000). No interest is charged and the loans are considered repayable upon demand.