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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 2024






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






Contents of the Financial Statements
for the year ended 30th November 2024




Page

Company information 1

Strategic report 2 to 3

Report of the directors 4 to 5

Report of the independent auditors 6 to 9

Statement of 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 2024







Directors: N G Crabbie
Miss K S Crabbie
Mrs F C Kherian



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 2024

The directors present their strategic report for the year ended 30th November 2024.

Review of business
Berwick-upon-Tweed Garden Centre Limited has achieved another successful year providing further profitability for the company. Turnover varied between it's three garden centres and, overall, increased in total by 2.4%, which is split as follows:

Berwick Garden Centre - 0.6% decrease in turnover individually
Dunbar Garden Centre - 3.0% increase in turnover individually
Plantsplus Garden Centre - 4.1% increase in turnover individually

Operating profit has reduced very slightly, falling by around 0.9% in the current year. Although ongoing economic movements have provided some potential additional cost pressures over a number of areas within the business, the company has been able to maintain its margins (as well as investing in areas of the business where cost saving and efficiency can be drawn), to publish a consistent profitability level.

Gross Profit across the business has been maintained at 53%.

Principal risks and uncertainties
Competition remains a principal risk to the company. In respect of the three garden centres; Plantsplus Garden Centre has seen sales continuing to grow despite two Dobbies garden centres being situated within 12 miles, being taken over by the British Garden Centre group. Berwick Garden Centre's competition within the town is consistent with last year with the introduction of a B&M Garden Centre replacing the Homebase store in Berwick. Additional competition and risks remain stable and present to all three centres, Berwick, Dunbar and Plantsplus, entailing more distant garden centres, local supermarkets and smaller independent businesses.

The economic position of the country could provide an impact into the performance of the company, through customer demand and further cost pressures. To date, the company has operated successfully through recently challenging times, including the ongoing cost of living pressures and changes in government policies.

The company mitigates it's risk towards competition through its continued investment and improvement across all three sites to attract and retain custom. Economic risks presented are faced in all businesses however the generalised garden centre business model typically continues to enjoy minimal impacts from recessional movements in the economy, therefore the directors believe the economic risk faced by the business to be lower. Through its numerous years of profitable trading, the company has been able to build up a strong balance sheet to accommodate potential shortfalls or reductions in trading on a temporary basis. The directors continue to review and investigate potential expansion and diversification opportunities to improve the company's performance and reduce the risks presented.


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

Strategic Report
for the year ended 30th November 2024

Development and performance
The results for the year show a profit on ordinary activities before tax of £966,201 (2023 - £926,372). Performance measurement is derived largely from the financial performance of the company as well as general business trends, the board has considered the company's performance to be satisfactory and it's performance has been monitored through the following main KPI's:

KPI Measurement 30th November 2024 30th November 2023
Turnover £10,308,312 £10,070,257
Gross Profit Margin 53% 53%

Further to this, the company continues to adopt a forward looking strategy, with the directors regular oversight and utilisation of management accounts allowing for performance reviews to be undertaken frequently. In addition to this, the directors are actively involved in key decision making on capital investment and potential business development to improve the company's long term viability. Where capital commitments are presented at the year end, these will be adequately disclosed within the notes to the financial statements.

A new management structure is now in place with Nick Crabbie continuing as Chairman, and his daughter, Fiona Crabbie Kherian as Managing Director. To help accommodate the company in meeting its objectives, the board has continued with the management structure that includes the involvement of the garden centre managers, together with the company Chairman and Managing Director, in key decision making.

On behalf of the board:





N G Crabbie - Director


11th July 2025

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

Report of the Directors
for the year ended 30th November 2024

The directors present their report with the financial statements of the company for the year ended 30th November 2024.

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

Dividends
No interim dividends were paid during the year. However, the directors recommend a final dividend of £9.00 per share to be declared for the year ended 30th November 2024.

The total distribution of dividends for the year ended 30th November 2024 was £231,328 which relates to final dividends paid for the year ended 30th November 2023.

Directors
The directors shown below have held office during the whole of the period from 1st December 2023 to the date of this report.

N G Crabbie
Miss K S Crabbie
Mrs F C Kherian

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 2024


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


11th July 2025

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 2024 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 30th November 2024 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 four, 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

11th July 2025

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

Statement of Comprehensive
Income
for the year ended 30th November 2024

2024 2023
Notes £    £   

Turnover 3 10,308,312 10,070,257

Cost of sales (4,799,560 ) (4,716,094 )
Gross profit 5,508,752 5,354,163

Administrative expenses (4,514,910 ) (4,351,285 )
993,842 1,002,878

Other operating income 649 836
Operating profit 6 994,491 1,003,714

Interest receivable and similar income 7,264 4,214
1,001,755 1,007,928

Interest payable and similar expenses 7 (35,554 ) (81,556 )
Profit before taxation 966,201 926,372

Tax on profit 8 (281,757 ) (256,714 )
Profit for the financial year 684,444 669,658

Other comprehensive income - -
Total comprehensive income for the
year

684,444

669,658

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

Balance Sheet
30th November 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 10 - -
Tangible assets 11 6,064,096 6,134,178
6,064,096 6,134,178

Current assets
Stocks 12 2,022,480 1,974,463
Debtors 13 238,069 197,487
Cash at bank and in hand 892,342 605,270
3,152,891 2,777,220
Creditors
Amounts falling due within one year 14 2,371,650 1,386,208
Net current assets 781,241 1,391,012
Total assets less current liabilities 6,845,337 7,525,190

Creditors
Amounts falling due after more than one
year

15

(6,293

)

(1,167,638

)

Provisions for liabilities 19 (155,423 ) (127,047 )
Net assets 6,683,621 6,230,505

Capital and reserves
Called up share capital 20 28,916 28,916
Share premium 21 10,000 10,000
Retained earnings 21 6,644,705 6,191,589
Shareholders' funds 6,683,621 6,230,505

The financial statements were approved by the Board of Directors and authorised for issue on 11th July 2025 and were signed on its behalf by:




N G Crabbie - Director



Mrs F C Kherian - Director


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

Statement of Changes in Equity
for the year ended 30th November 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st December 2022 28,916 5,753,259 10,000 5,792,175

Changes in equity
Dividends - (231,328 ) - (231,328 )
Total comprehensive income - 669,658 - 669,658
Balance at 30th November 2023 28,916 6,191,589 10,000 6,230,505

Changes in equity
Dividends - (231,328 ) - (231,328 )
Total comprehensive income - 684,444 - 684,444
Balance at 30th November 2024 28,916 6,644,705 10,000 6,683,621

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

Cash Flow Statement
for the year ended 30th November 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,395,350 1,380,411
Interest paid (35,443 ) (80,558 )
Interest element of hire purchase
payments paid

(111

)

(998

)
Tax paid (261,017 ) (173,912 )
Net cash from operating activities 1,098,779 1,124,943

Cash flows from investing activities
Purchase of tangible fixed assets (309,212 ) (252,024 )
Sale of tangible fixed assets 3,250 -
Interest received 7,264 4,214
Net cash from investing activities (298,698 ) (247,810 )

Cash flows from financing activities
Loan repayments in year (274,458 ) (1,162,290 )
Capital repayments in year (7,223 ) (16,604 )
Equity dividends paid (231,328 ) (231,328 )
Net cash from financing activities (513,009 ) (1,410,222 )

Increase/(decrease) in cash and cash equivalents 287,072 (533,089 )
Cash and cash equivalents at
beginning of year

2

605,270

1,138,359

Cash and cash equivalents at end of
year

2

892,342

605,270

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

Notes to the Cash Flow Statement
for the year ended 30th November 2024

1. Reconciliation of profit before taxation to cash generated from operations

2024 2023
£    £   
Profit before taxation 966,201 926,372
Depreciation charges 377,126 377,418
Profit on disposal of fixed assets (1,082 ) -
Finance costs 35,554 81,556
Finance income (7,264 ) (4,214 )
1,370,535 1,381,132
(Increase)/decrease in stocks (48,017 ) 66,435
Increase in trade and other debtors (40,582 ) (35,813 )
Increase/(decrease) in trade and other creditors 113,414 (31,343 )
Cash generated from operations 1,395,350 1,380,411

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 2024
30.11.24 1.12.23
£    £   
Cash and cash equivalents 892,342 605,270
Year ended 30th November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 605,270 1,138,359


3. Analysis of changes in net debt

At 1.12.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank and in hand 605,270 287,072 892,342
605,270 287,072 892,342
Debt
Finance leases (7,223 ) 7,223 -
Debts falling due within 1 year (208,603 ) (886,380 ) (1,094,983 )
Debts falling due after 1 year (1,165,382 ) 1,160,838 (4,544 )
(1,381,208 ) 281,681 (1,099,527 )
Total (775,938 ) 568,753 (207,185 )

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

Notes to the Financial Statements
for the year ended 30th November 2024

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, has been subsequently fully written down to nil value.

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

Land and buildings also includes a number of assets which are not depreciated and therefore are deemed to have an indefinite useful life.

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

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. Where applicable, provisions for any slow moving or obsolete items to reduce the cost to net realiseable value if lower.

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.

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

2. Accounting policies - continued

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

Other loans (being repayable over an agreed term) and 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.

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.

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

2. Accounting policies - continued

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.

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

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 profit and loss account as the related expenditure is incurred.

Going concern
As set out in the strategic report, the directors have reviewed and identified some of the positive economic factors surrounding the company's performance and profitability in the year. These factors have been considered by the directors along with the future expectations and plans for the company for a period beyond 12 months from signing these financial statements to consider the company's going concern position.

The directors therefore believe the company is in a position to continue trading in it's current format for the foreseeable future. Therefore, the directors continue to adopt the going concern basis in the preparation of the financial statements for the company.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the balance sheet, bank overdrafts (where applicable) are shown within borrowings or current liabilities.

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

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:

2024 2023
£    £   
United Kingdom 10,308,312 10,070,257
10,308,312 10,070,257

4. Employees and directors
2024 2023
£    £   
Wages and salaries 2,919,382 2,844,397
Social security costs 214,090 188,306
Other pension costs 51,834 46,009
3,185,306 3,078,712

The average number of employees during the year was as follows:
2024 2023

156 159

5. Directors' emoluments
2024 2023
£    £   
Directors' remuneration 54,455 40,107
Directors' pension contributions to money purchase schemes 220 -

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

Money purchase schemes 1 -

6. Operating profit

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 377,126 364,709
Depreciation - assets on hire purchase contracts - 12,708
Profit on disposal of fixed assets (1,082 ) -
Auditors' remuneration 9,900 8,900

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

7. Interest payable and similar expenses
2024 2023
£    £   
Bank loan interest 35,443 80,558
Hire purchase interest 111 998
35,554 81,556

8. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 253,381 261,017

Deferred tax 28,376 (4,303 )
Tax on profit 281,757 256,714

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:

2024 2023
£    £   
Profit before tax 966,201 926,372
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23.011%)

241,550

213,167

Effects of:
Depreciation in excess of capital allowances 11,831 47,850
Deferred tax expense 28,376 (4,303 )
Total tax charge 281,757 256,714

9. Dividends
2024 2023
£    £   
Final 231,328 231,328

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

10. Intangible fixed assets
Goodwill
£   
Cost
At 1st December 2023
and 30th November 2024 65,000
Amortisation
At 1st December 2023
and 30th November 2024 65,000
Net book value
At 30th November 2024 -
At 30th November 2023 -

11. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1st December 2023 7,007,910 1,288,026 1,558,854 121,088 9,975,878
Additions 40,397 126,169 126,651 15,995 309,212
Disposals - - - (12,000 ) (12,000 )
At 30th November 2024 7,048,307 1,414,195 1,685,505 125,083 10,273,090
Depreciation
At 1st December 2023 1,727,755 892,427 1,154,091 67,427 3,841,700
Charge for year 152,236 117,903 91,591 15,396 377,126
Eliminated on disposal - - - (9,832 ) (9,832 )
At 30th November 2024 1,879,991 1,010,330 1,245,682 72,991 4,208,994
Net book value
At 30th November 2024 5,168,316 403,865 439,823 52,092 6,064,096
At 30th November 2023 5,280,155 395,599 404,763 53,661 6,134,178

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

11. 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 2023 127,000
Transfer to ownership (127,000 )
At 30th November 2024 -
Depreciation
At 1st December 2023 87,897
Transfer to ownership (87,897 )
At 30th November 2024 -
Net book value
At 30th November 2024 -
At 30th November 2023 39,103

12. Stocks
2024 2023
£    £   
Stocks 2,022,480 1,974,463

13. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,742 2,548
Other debtors 170,084 157,997
Staff loans - 2,222
Prepayments 65,243 34,720
238,069 197,487

14. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 16) 1,094,983 208,603
Hire purchase contracts (see note 17) - 7,223
Trade creditors 502,444 402,994
Tax 253,381 261,017
PAYE liability 51,157 49,966
VAT 206,509 203,477
Other creditors 28,660 24,143
Directors' current accounts 80,899 80,899
Accrued expenses 153,112 147,239
Deferred government grants 505 647
2,371,650 1,386,208

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

15. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 16) 4,544 1,165,382
Deferred government grants 1,749 2,256
6,293 1,167,638

16. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,094,983 208,603

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,408 1,160,838

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,136 4,544

17. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year - 7,223

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

Notes to the Financial Statements - continued
for the year ended 30th November 2024

18. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,099,527 1,373,985
Hire purchase contracts - 7,223
1,099,527 1,381,208

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.

19. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 146,869 122,928
Other timing differences 8,554 4,119
155,423 127,047

Deferred
tax
£   
Balance at 1st December 2023 127,047
Charge to Statement of comprehensive income during year 28,376
Balance at 30th November 2024 155,423

20. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
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 2024

21. Reserves
Retained Share
earnings premium Totals
£    £    £   

At 1st December 2023 6,191,589 10,000 6,201,589
Profit for the year 684,444 - 684,444
Dividends (231,328 ) - (231,328 )
At 30th November 2024 6,644,705 10,000 6,654,705

22. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £51,834 (2023 - £46,009).


Contributions totalling £nil (2023 - £nil) were payable to the scheme at the end of the year and are included in creditors.