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REGISTERED NUMBER: 11656315 (England and Wales)









REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHACEWATER GARDEN CENTRE LIMITED

CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


CHACEWATER GARDEN CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: E Scorse
C Finney
Mrs E R Finney





REGISTERED OFFICE: Chacewater Garden Centre
Chacewater
TRURO
Cornwall
TR4 8QG





REGISTERED NUMBER: 11656315 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

E Scorse
C Finney
Mrs E R Finney

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





E Scorse - Director


17 March 2025

CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 194,367 242,959
Tangible assets 5 1,428,923 1,446,264
Investments 6 1,000 1,000
Investment property 7 293,114 293,114
1,917,404 1,983,337

CURRENT ASSETS
Stocks 253,824 222,092
Debtors 8 6,719 15,229
Cash at bank and in hand 508,099 457,557
768,642 694,878
CREDITORS
Amounts falling due within one year 9 1,977,342 1,766,275
NET CURRENT LIABILITIES (1,208,700 ) (1,071,397 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

708,704

911,940

CREDITORS
Amounts falling due after more than one
year

10

(570,453

)

(622,899

)

PROVISIONS FOR LIABILITIES (51,097 ) (13,320 )
NET ASSETS 87,154 275,721

CAPITAL AND RESERVES
Called up share capital 102 102
Fair value reserve 16,200 16,200
Retained earnings 70,852 259,419
SHAREHOLDERS' FUNDS 87,154 275,721

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

BALANCE SHEET - continued
31 DECEMBER 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 17 March 2025 and were signed on its behalf by:





E Scorse - Director


CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Chacewater 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 as modified by the revaluation of certain assets.

As at the year-end the company had net current liabilities of £1,208,700 (2023- £1,071,397). This arises due to loans from Directors and other related parties who intend to maintain their support of the company. The Directors, having assessed projected performance for a period of 12 months consider it is appropriate to prepare the accounts on a going concern basis.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on cost and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. 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 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.


CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

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
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 30 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 485,919
AMORTISATION
At 1 January 2024 242,960
Charge for year 48,592
At 31 December 2024 291,552
NET BOOK VALUE
At 31 December 2024 194,367
At 31 December 2023 242,959

CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 1,468,063 128,963 1,597,026
Additions - 23,427 23,427
Disposals - (5,833 ) (5,833 )
At 31 December 2024 1,468,063 146,557 1,614,620
DEPRECIATION
At 1 January 2024 89,791 60,971 150,762
Charge for year 24,362 15,022 39,384
Eliminated on disposal - (4,449 ) (4,449 )
At 31 December 2024 114,153 71,544 185,697
NET BOOK VALUE
At 31 December 2024 1,353,910 75,013 1,428,923
At 31 December 2023 1,378,272 67,992 1,446,264

Included in cost of land and buildings is freehold land of £ 250,000 (2023 - £ 250,000 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 1,000
NET BOOK VALUE
At 31 December 2024 1,000
At 31 December 2023 1,000

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 293,114
NET BOOK VALUE
At 31 December 2024 293,114
At 31 December 2023 293,114

CHACEWATER GARDEN CENTRE LIMITED (REGISTERED NUMBER: 11656315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 210 479
Other debtors 6,509 14,750
6,719 15,229

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 58,431 56,724
Trade creditors 145,846 168,518
Amounts owed to group undertakings 1,394,981 1,174,969
Taxation and social security 11,101 41,389
Other creditors 366,983 324,675
1,977,342 1,766,275

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 570,453 622,899

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 383,211 376,584

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 628,884 679,623

Loans are secured by means of a debenture comprising fixed and floating charges over all assets and undertakings of the company, including the freehold property known as Chacewater Garden Centre, Chacewater Hill, Chacewater. Also by means of a cross group guarantee in favour of the bank.