REGISTERED NUMBER: 04132233 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Carrier Landscapes Limited

Page

Company information

1

Strategic report

2

to

3

Report of the directors

4

to

5

Report of the independent auditors

6

to

9

Income statement

10

Other comprehensive income

11

Statement of financial position

12

Statement of changes in equity

13

Statement of cash flows

14

Notes to the statement of cash flows

15

to

16

Notes to the financial statements

17

to

26

Directors:

D L Carrier

W M Carrier

Miss E F Carrier

Mrs J A Carrier

Registered office:

Sulney Nursery

Station Road

Upper Broughton

Melton Mowbray

LE14 3BQ

Registered number:

04132233 (England and Wales)

Auditors:

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

The directors present their strategic report for the year ended 31 December 2024.

Review of business

As detailed in the company's income statement on page 9, the company made a loss before tax of £238,962.

The financial year was particularly challenging, with revenue declining by 22% compared to the previous year. This was partly a result of the recent de-merger but was primarily driven by difficulties within the UK house building sector. Landscaping typically occurs during the final stages of residential construction projects; therefore, the slowdown in housing activity through high interest rates and reduced house sales, had a direct impact on trading volumes.

Operational costs remained elevated throughout the year, particularly fuel related expenses. which only started to fall in the last quarter of 2024.

To respond to these external pressures, the company undertook an internal reorganisation. This included the recruitment of senior personnel to strengthen leadership and long term strategy, which resulted in one off recruitment fess and redundancy payments.

As a result of the above factors, net assets decreased to £4,006,088 as at the year end.

Development and performance

The company continues to monitor and adapt to the dynamics of the markets it operates in. A strategic focus has been placed on diversifying the business beyond the residential house building sector. In particular, efforts are underway to expand into alternative commercial landscaping contracts, which are less susceptible to the cyclical nature of the housing market.

Although a disappointing year, the directors are encouraged by the company's financial position, as reflected in the statement of financial position on page 11. The foundations are now in place to provide the company with the stability to build upon existing operations and to pursue future growth opportunities. A key example of this has been the investment of the nursery site at Lindrick Dale, which is expected to enhance operational capacity and drive future growth.

Key performance indicators

2024

2023

inc/(dec)

as restated

£'000

£'000

%

Revenue

8,616

11,163

(22.80)

Gross profit

513

1,869

(72.50)

Gross profit %

6.00

16.70

(10.70)

Net profit/(loss) before taxation

(239)

1,013

(123.60)

Principal risks and uncertainties

Financial instruments

The company's principal financial instruments comprise sterling cash and bank deposits, together with trade debtors and trade creditors that arise directly from its operations.

The main risk arising from the company's financial instruments can be analysed as follows:

Liquidity risk

The company manages its liquidity risk by maintaining a prudent cash balance and ensuring sufficient financial headroom to meet operational needs.

Credit risk

The company's main financial assets are its cash balances and trade receivables. The exposure to credit risk is limited due to the diversified nature of its customer base and active credit control procedures. The company does not have significant concentrations of credit risk.

Brexit and transition

The company has navigated the post-Brexit landscape without material disruption to its operations. While some uncertainty persists, particularly regarding labour and materials availability, the directors consider the company well placed to manage any medium- to long-term effects. The company remains financially sound with realistic and flexible growth plans in place.

On behalf of the board:

D L Carrier - Director

16 September 2025

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

Dividends

An interim dividend of £1 per share was paid on 5 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 50,000 .

Directors

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

D L Carrier

Mrs J A Carrier

Other changes in directors holding office are as follows:

W M Carrier - appointed 29 October 2024

Miss E F Carrier - appointed 29 October 2024

Disclosure in the strategic report

The directors, in accordance with section 414C(11) of the Companies Act 2006 Regulations 2013, have prepared the company's strategic report as required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 as per page 2.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

Auditors

The auditors, Moore Thompson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

D L Carrier - Director

16 September 2025

Qualified Opinion

We have audited the financial statements of Carrier Landscapes Limited (the 'company') for the year ended 31 December 2024 which comprise the Income statement, Other comprehensive income, Statement of financial position, Statement of changes in equity, Statement of cash flows and Notes to the statement of cash flows, 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, except for the possible effects on the corresponding figures of the matters described in the basis for qualified opinion section of our report, 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 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 qualified opinion

As we did not observe the counting of the physical inventories at 31 December 2022 we are unable to satisfy ourselves by alternative means that the opening stock figure in the comparative statutory profit and loss account are correct. Since opening inventories enter into the determination of the financial performance and cashflows, we are unable to determine whether an adjustment might have been necessary in respect of the results for the comparative year reported in the statement of comprehensive income and the net cashflow from operating activities in the statement of cashflow.

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.

Qualified opinion on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matters described in the basis for qualified opinion section of our report, 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.

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.

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.

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:

Irregularities, including fraud are instances of non-compliance with laws and regulations. We design procedures in lines with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the client company's sector.

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company.

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journals entries to identify unusual transactions;

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims;

-

reviewing correspondence with HMRC and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatement that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

Matt Storey FCCA, ACA, BFP (Senior Statutory Auditor)

for and on behalf of Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

16 September 2025

Turnover

8,616,334

11,162,970

Cost of sales

8,103,178

9,293,681

Gross profit

513,156

1,869,289

Administrative expenses

873,944

865,437

(360,788

)

1,003,852

Other operating income

134,200

13,450

Operating (loss)/profit

4

(226,588

)

1,017,302

Interest receivable and similar income

15,901

12,929

(210,687

)

1,030,231

Interest payable and similar expenses

5

28,275

17,663

(Loss)/profit before taxation

(238,962

)

1,012,568

Tax on (loss)/profit

6

(43,931

)

195,038

(Loss)/profit for the financial year

(195,031

)

817,530

(Loss)/profit for the year

(195,031

)

817,530

Other comprehensive income

-

-

Total comprehensive income for the year

(195,031

)

817,530

Note

Prior year adjustment

8

106,043

(35,041

)

Total comprehensive income since last annual report

(88,988

)

782,489

Fixed assets

Intangible assets

9

-

-

Tangible assets

10

2,197,827

2,282,459

2,197,827

2,282,459

Current assets

Stocks

11

124,091

-

Debtors

12

1,904,332

2,402,067

Cash at bank and in hand

1,532,176

1,283,227

3,560,599

3,685,294

Creditors

Amounts falling due within one year

13

1,417,530

1,290,845

Net current assets

2,143,069

2,394,449

Total assets less current liabilities

4,340,896

4,676,908

Creditors

Amounts falling due after more than one year

14

(104,570

)

(185,088

)

Provisions for liabilities

17

(230,238

)

(240,701

)

Net assets

4,006,088

4,251,119

Capital and reserves

Called up share capital

18

50,000

50,000

Share premium

19

1,140

1,140

Capital redemption reserve

19

100

100

Retained earnings

19

3,954,848

4,199,879

Shareholders' funds

4,006,088

4,251,119

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

D L Carrier - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

50,000

4,362,260

1,140

100

4,413,500

Prior year adjustment

-

(35,041

)

-

-

(35,041

)

As restated

50,000

4,327,219

1,140

100

4,378,459

Changes in equity

Dividends

-

(944,870

)

-

-

(944,870

)

Total comprehensive income

-

711,487

-

-

711,487

Balance at 31 December 2023

50,000

4,093,836

1,140

100

4,145,076

Prior year adjustment

-

106,043

-

-

106,043

As restated

50,000

4,199,879

1,140

100

4,251,119

Changes in equity

Dividends

-

(50,000

)

-

-

(50,000

)

Total comprehensive income

-

(195,031

)

-

-

(195,031

)

Balance at 31 December 2024

50,000

3,954,848

1,140

100

4,006,088

Cash flows from operating activities

Cash generated from operations

1

777,694

542,065

Interest paid

(661

)

3,513

Interest element of hire purchase payments paid

(27,614

)

(21,176

)

Tax paid

(199,554

)

13,163

Net cash from operating activities

549,865

537,565

Cash flows from investing activities

Purchase of tangible fixed assets

(100,950

)

(423,582

)

Sale of tangible fixed assets

39,327

411,549

Interest received

15,901

12,929

Net cash from investing activities

(45,722

)

896

Cash flows from financing activities

Loan repayments in year

-

(21,790

)

Capital repayments in year

(180,573

)

42,608

Amount withdrawn by directors

(24,621

)

(15,293

)

Equity dividends paid

(50,000

)

(87,415

)

Net cash from financing activities

(255,194

)

(81,890

)

Increase in cash and cash equivalents

248,949

456,571

Cash and cash equivalents at beginning of year

2

1,283,227

826,656

Cash and cash equivalents at end of year

2

1,532,176

1,283,227

1.	Reconciliation of (loss)/profit before taxation to cash generated from operations

2024

2023

as

restated

£

£

(Loss)/profit before taxation

(238,962

)

1,012,568

Depreciation charges

262,869

301,756

Profit on disposal of fixed assets

(16,436

)

(71,394

)

Loss on fixed assets to related party

-

(248,025

)

Finance costs

28,275

17,663

Finance income

(15,901

)

(12,929

)

19,845

999,639

(Increase)/decrease in stocks

(124,091

)

12,389

Decrease/(increase) in trade and other debtors

497,317

(407,331

)

Increase/(decrease) in trade and other creditors

384,623

(62,632

)

Cash generated from operations

777,694

542,065

2.	Cash and cash equivalents

The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

1,532,176

1,283,227

Year ended 31 December 2023

31.12.23

1.1.23

as restated

£

£

Cash and cash equivalents

1,283,227

826,656

3.	Analysis of changes in net funds

Other

non-cash

At 1.1.24

Cash flow

changes

At 31.12.24

£

£

£

£

Net cash

Cash at bank

and in hand

1,283,227

248,949

1,532,176

1,283,227

248,949

1,532,176

Debt

Finance leases

(349,018

)

180,573

(100,176

)

(268,621

)

(349,018

)

180,573

(100,176

)

(268,621

)

Total

934,209

429,522

(100,176

)

1,263,555

1.	Statutory information

Carrier Landscapes 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

(i) Useful economic lives of property, plant and equipment

The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives of the assets. The useful economic lives are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Amounts recoverable on contracts

The level of revenue included for any particular contracts for services in progress at the year-end is based on job records of work completed to date, but not yet invoiced. Full provision is made for losses on all contracts in the year in which they are foreseen.

Turnover

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

Turnover is recognised on contracts where the company has obtained a right to consideration. Turnover is recognised on contracts for services performed as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of turnover reflects the accrual of the right to consideration by reference to an assessment of the fair value of the goods provided and services performed up to the financial reporting date. Turnover not invoiced is included in debtors as amounts recoverable on contracts, and payments received on account in excess of the relevant amount of turnover are included in creditors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Long leasehold

-

at varying rates on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Stocks

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.