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Registered number: 12410907
Friends Of Westonbirt Arboretum Enterprises Limited
Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Company Information 1
Directors' Report 2—3
Independent Auditor's Report 4—7
Profit and Loss Account 8
Balance Sheet 9—10
Statement of Changes in Equity 11
Notes to the Financial Statements 12—16
Page 1
Company Information
Directors Nigel Frost
Martyn Smith
Paul Isherwood
Company Number 12410907
Registered Office The Great Oak Hall
Westonbirt, The National Arboretum
Tetbury
Gloucestershire
GL8 8QS
Accountants Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
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Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors
The directors who held office during the year were as follows:
Nigel Frost
Martyn Smith
Neil Sachdev Resigned 02/10/2024
Paul Isherwood Appointed 04/12/2024
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report 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 the financial statements the directors are required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Martyn Smith
Director
14/05/2025
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Independent Auditor's Report
Opinion
We have audited the financial statements of Friends Of Westonbirt Arboretum Enterprises Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; 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 Auditor's 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 the provisions available for small entities, in the circumstances set out in note 15 to the financial statements, 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 entity's ability to continue as a going concern for a period of at least 12 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.
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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Directors' Report have been prepared in accordance with applicable legal requirements.
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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 Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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, or
  • the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, 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 is 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.
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Auditor's 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 an auditor's report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:
(1) We obtained an understanding of the legal and regulatory framework that the company operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.
(2) We reviewed the company’s policies and procedures in relation 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 risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and
  • designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud.
(3) We inspected the minutes of director meetings.
(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.
(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.
(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.
(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:
  • testing the appropriateness of journal entries;
  • assessing judgements and accounting estimates for potential bias;
  • reviewing related party transactions; and
  • testing transactions that are unusual or outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that we are required to state to them in an auditor's report 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.
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Rob Wilson FCA (Senior Statutory Auditor)
for and on behalf of Godfrey Wilson Limited , Statutory Auditor
14/05/2025
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 517,063 484,222
Cost of sales (289,300 ) (267,308 )
GROSS PROFIT 227,763 216,914
Administrative expenses (184,821 ) (182,736 )
OPERATING PROFIT 3 42,942 34,178
Other interest receivable and similar income 93 -
Interest payable and similar charges (9,602 ) (10,236 )
PROFIT BEFORE TAXATION 33,433 23,942
Tax on Profit 5 (1,117 ) -
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 32,316 23,942
The notes on pages 12 to 16 form part of these financial statements.
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 6 160 2,073
Tangible Assets 7 12,282 12,380
12,442 14,453
CURRENT ASSETS
Stocks 8 49,884 46,008
Debtors 9 5,929 6,680
Cash at bank and in hand 163,805 149,771
219,618 202,459
Creditors: Amounts Falling Due Within One Year 10 (106,060 ) (65,319 )
NET CURRENT ASSETS (LIABILITIES) 113,558 137,140
TOTAL ASSETS LESS CURRENT LIABILITIES 126,000 151,593
Creditors: Amounts Falling Due After More Than One Year 11 (125,000 ) (155,000 )
NET ASSETS/(LIABILITIES) 1,000 (3,407 )
CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Profit and Loss Account - (4,407 )
SHAREHOLDERS' FUNDS 1,000 (3,407)
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Martyn Smith
Director
14/05/2025
The notes on pages 12 to 16 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2023 1,000 (28,349 ) (27,349)
Profit for the year and total comprehensive income - 23,942 23,942
As at 31 December 2023 and 1 January 2024 1,000 (4,407 ) (3,407)
Profit for the year and total comprehensive income - 32,316 32,316
Dividends paid - (27,909) (27,909)
As at 31 December 2024 1,000 - 1,000
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Notes to the Financial Statements
1. General Information
Friends Of Westonbirt Arboretum Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12410907 . The registered office is The Great Oak Hall, Westonbirt, The National Arboretum, Tetbury, Gloucestershire, GL8 8QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets 4,930 4,499
Amortisation of intangible fixed assets 1,913 1,913
4. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
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5. Tax on Profit
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 19.0% 19.0% 1,117 -
Total tax charge for the period 1,117 -
2024 2023
£ £
Profit before tax 33,433 23,942
Breakdown of tax charge is:
Tax on profit at 19% (UK standard rate) 6,352 4,549
Goodwill/depreciation not allowed for tax 1,300 1,218
Tax losses utilised (315 ) (5,742 )
Capital allowances (917 ) -
Short term timing differences (5,303 ) (25 )
Total tax charge for the period 1,117 -
6. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 9,567
As at 31 December 2024 9,567
Amortisation
As at 1 January 2024 7,494
Provided during the period 1,913
As at 31 December 2024 9,407
Net Book Value
As at 31 December 2024 160
As at 1 January 2024 2,073
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7. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 2,095 34,781 4,503 41,379
Additions - 4,832 - 4,832
As at 31 December 2024 2,095 39,613 4,503 46,211
Depreciation
As at 1 January 2024 1,517 24,495 2,987 28,999
Provided during the period 267 3,642 1,021 4,930
As at 31 December 2024 1,784 28,137 4,008 33,929
Net Book Value
As at 31 December 2024 311 11,476 495 12,282
As at 1 January 2024 578 10,286 1,516 12,380
8. Stocks
2024 2023
£ £
Finished goods 49,884 46,008
9. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,929 6,680
10. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,968 13,518
Corporation tax 1,117 -
Other taxes and social security 27,880 25,515
Other creditors 951 475
Accruals 7,861 11,407
Amounts owed to group undertakings 41,283 14,404
106,060 65,319
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11. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 125,000 155,000
Interest on the intercompany loan is charged at market rate. 
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
13. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,499 (2023: £6,662).
14. Related Party Transactions
The Friends of Westonbirt Arboretum Group has a close relationship with Forestry England. Friends of Westonbirt Arboretum Enterprises pays rent for the use of the property from which they trade. The cost for the year was £100 (2023: £20,124). At year end, £nil was outstanding (2023: £3,281) and is included within trade creditors.
Friends of Westonbrirt Arboretum Enterprises is the wholly owned subsidiary of Friends of Westonbirt Arboretum (charity no. 293190). Three of the trustees of the charity serve on the board of the trading company. The charity operates payroll and manages transactions on behalf of the company. During the year, the company paid the charity £23,784 for management fees (2023: £22,320) and £9,602 for interest on the intercompany loan (2023: £10,236). At year end, £166,283 (2023: £169,404) was owed to the charity and included in creditors, which includes a loan of £125,000 (2023: £155,000).
15. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
16. Ultimate Controlling Party
The company is a wholly owned subsidiary, and the ultimate parent undertaking and controlling party is Friends of Westonbirt Arboretum which is incorporated in England and Wales. The registered address of the controlling party is: 
The Great Oak Hall
Westonbirt The National
Arboretum Tetbury
Gloucestershire
GL8 8QS
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