Company registration number 03673635 (England and Wales)
GROVEWELL TENTERDEN LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
Richard Anthony
Chartered Accountants and Registered Auditors
GROVEWELL TENTERDEN LIMITED
COMPANY INFORMATION
Directors
D M Boult
E W Boult
E A Boult
Secretary
E W Boult
Company number
03673635
Registered office
Ground Floor Cooper House
316 Regents Park Road
London
United Kingdom
N3 2JX
Auditor
Richard Anthony
Ground Floor Cooper House
316 Regents Park Road
London
United Kingdom
N3 2JX
Business address
Reading Street
Tenterden
Kent
TN30 7HT
GROVEWELL TENTERDEN LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Balance sheet
3
Notes to the financial statements
4 - 9
GROVEWELL TENTERDEN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
The directors present their annual report and financial statements for the year ended 31 January 2025.
Principal activities
The principal activity of the company continued to be that of a garden centre.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
D M Boult
E W Boult
E A Boult
Auditor
In accordance with the company's articles, a resolution proposing that Richard Anthony be reappointed as auditor of the company will be put at a General Meeting.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
E W Boult
Director
18 July 2025
GROVEWELL TENTERDEN LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
The directors are responsible for preparing the annual 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 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; and
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.
GROVEWELL TENTERDEN LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 3 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,268,479
1,347,217
Current assets
Stocks
423,436
525,217
Debtors
5
694,977
406,949
Cash at bank and in hand
9,416
4,426
1,127,829
936,592
Creditors: amounts falling due within one year
6
(757,779)
(846,036)
Net current assets
370,050
90,556
Total assets less current liabilities
1,638,529
1,437,773
Provisions for liabilities
(89,247)
(108,308)
Net assets
1,549,282
1,329,465
Capital and reserves
Called up share capital
7
18,500
18,500
Share premium account
116,487
116,487
Profit and loss reserves
1,414,295
1,194,478
Total equity
1,549,282
1,329,465
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 18 July 2025 and are signed on its behalf by:
D M Boult
E W Boult
Director
Director
Company registration number 03673635 (England and Wales)
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information
Grovewell Tenterden Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor Cooper House, 316 Regents Park Road, London, United Kingdom, N3 2JX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Grovewell Garden Centres Limited. These consolidated financial statements are available from its registered office, Ground Floor Cooper House, 316 Regents Park Road, London N3 2JX.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
2.5% on cost of building development
Plant and machinery
25% on written down value
Fixtures, fittings and equipment
25% on cost
Motor vehicles
25% on written down value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
The accounting policy in respect of deferred tax follows the requirements of FRS19 - Deferred tax. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 7 -
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
58
56
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
1,795,891
646,067
2,441,958
Additions
1,900
8,032
9,932
At 31 January 2025
1,797,791
654,099
2,451,890
Depreciation and impairment
At 1 February 2024
569,159
525,582
1,094,741
Depreciation charged in the year
32,579
56,091
88,670
At 31 January 2025
601,738
581,673
1,183,411
Carrying amount
At 31 January 2025
1,196,053
72,426
1,268,479
At 31 January 2024
1,226,732
120,485
1,347,217
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,425
8,607
Corporation tax recoverable
12
Amounts owed by group undertakings
603,791
381,298
Other debtors
87,761
17,032
694,977
406,949
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
64,930
281,534
Trade creditors
264,402
231,856
Amounts owed to group undertakings
203,919
205,528
Corporation tax
92,451
Other taxation and social security
108,971
103,681
Other creditors
23,106
23,437
757,779
846,036
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 9 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
18,500
18,500
18,500
18,500
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 January 2025 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.
Senior Statutory Auditor:
Michael Barnett BA FCA
Statutory Auditor:
Richard Anthony
Date of audit report:
18 July 2025
9
Financial commitments, guarantees and contingent liabilities
There is a legal mortgage charge dated 25 November 2010 over the freehold property at Tenterden Garden Centre, Reading Street, Tenterden, Kent, TN30 7HT.
There is also a debenture charge dated 24 November 2010 which comprises all money and liabilities whatever, whenever and howsoever incurred by the company whether now or in the future.
10
Related party transactions
The following amounts were outstanding at the reporting end date:
£309 (2024 - £309 ) was owed to Grovewell Garden Centres Limited, parent company;
£203,610 (2024 - £205,219) was owed to Grovewell Canterbury Limited, a fellow subsidiary;
£22,653 (2024 - £13,419) was owed by Grovewell Folkestone Limited, a fellow subsidiary;
£581,137 (2024 - £367,879) was owed by Grovewell Hamstreet Limited, a fellow subsidiary.
11
Parent company
The company is a wholly owned subsidiary of Grovewell Garden Centres Limited, which is registered in England and Wales.
The ultimate controlling party is Mr Edward William Boult, by virtue of his shareholding and directorship in Grovewell Garden Centres Limited.
2025-01-312024-02-01falsefalsefalse18 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityD M BoultE A BoultE A BoultE W Boult036736352024-02-012025-01-3103673635bus:Director12024-02-012025-01-3103673635bus:CompanySecretaryDirector12024-02-012025-01-3103673635bus:Director22024-02-012025-01-3103673635bus:CompanySecretary12024-02-012025-01-3103673635bus:Director32024-02-012025-01-3103673635bus:RegisteredOffice2024-02-012025-01-31036736352025-01-31036736352024-01-3103673635core:LandBuildings2025-01-3103673635core:OtherPropertyPlantEquipment2025-01-3103673635core:LandBuildings2024-01-3103673635core:OtherPropertyPlantEquipment2024-01-3103673635core:CurrentFinancialInstrumentscore:WithinOneYear2025-01-3103673635core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3103673635core:CurrentFinancialInstruments2025-01-3103673635core:CurrentFinancialInstruments2024-01-3103673635core:ShareCapital2025-01-3103673635core:ShareCapital2024-01-3103673635core:SharePremium2025-01-3103673635core:SharePremium2024-01-3103673635core:RetainedEarningsAccumulatedLosses2025-01-3103673635core:RetainedEarningsAccumulatedLosses2024-01-3103673635core:ShareCapitalOrdinaryShareClass12025-01-3103673635core:ShareCapitalOrdinaryShareClass12024-01-3103673635core:LandBuildingscore:OwnedOrFreeholdAssets2024-02-012025-01-3103673635core:PlantMachinery2024-02-012025-01-3103673635core:FurnitureFittings2024-02-012025-01-3103673635core:MotorVehicles2024-02-012025-01-31036736352023-02-012024-01-3103673635core:LandBuildings2024-01-3103673635core:OtherPropertyPlantEquipment2024-01-31036736352024-01-3103673635core:LandBuildings2024-02-012025-01-3103673635core:OtherPropertyPlantEquipment2024-02-012025-01-3103673635core:WithinOneYear2025-01-3103673635core:WithinOneYear2024-01-3103673635bus:OrdinaryShareClass12024-02-012025-01-3103673635bus:OrdinaryShareClass12025-01-3103673635bus:OrdinaryShareClass12024-01-3103673635bus:PrivateLimitedCompanyLtd2024-02-012025-01-3103673635bus:FRS1022024-02-012025-01-3103673635bus:Audited2024-02-012025-01-3103673635bus:SmallCompaniesRegimeForAccounts2024-02-012025-01-3103673635bus:FullAccounts2024-02-012025-01-31xbrli:purexbrli:sharesiso4217:GBP