REGISTERED NUMBER: 00352943 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PLANTERS BROOKFIELDS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

G G Ingram

Mrs C Ingram

REGISTERED OFFICE:

Planters Garden Centre

Trinity Road

Freasley

Tamworth

Staffordshire

B78 2EY

REGISTERED NUMBER:

00352943 (England and Wales)

AUDITORS:

Philip Barnes & Co Limited

Chartered Accountants

Statutory Auditors

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

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

REVIEW OF BUSINESS

The company's main business continues to be that of a garden centre operating under the Planters brand.

Our aim is to provide a destination location for our customers with our garden centre not only having a wide range of garden goods but also leisure activities in particular a refurbished coffee shop and restaurant.

We continually review product lines to ensure that we meet these objectives and the demands of our customers. We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover and gross and net profits.

2024

2023

£

£

Turnover

5,192,890

5,703,027

Gross profit

2,419,725

2,723,545

Net profit before tax

58,255

147,019

An analysis of turnover is shown in note 3. Whilst sales appear lower this is due to the extended period in 2023. Sales have shown good growth in the year with a greater growth being achieved in catering.

The company has seen a reduction in the level of overall profit as it incurs group overheads following it's acquisition in the previous year..

The company continues to invest in improving its facilities. It has a sound asset base and we believe that it is well placed to continue the growth and development of the business.

PRINCIPAL RISKS AND UNCERTAINTIES

We operate on a prudent, economic and risk averse basis as regards our trading relationships with our customers, suppliers and funders. There are external events that occur outside our control including the weather and the general economic climate, however we closely monitor these to mitigate their effect on the business.

ON BEHALF OF THE BOARD:

G G Ingram - Director

29 September 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

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

G G Ingram

Mrs C Ingram

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.

AUDITORS

The auditors, Philip Barnes & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G G Ingram - Director

29 September 2025

Opinion

We have audited the financial statements of Planters Brookfields Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 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 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.

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 three, 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:

Non-compliance with laws and regulations, our procedures included the following:

- considering the nature of the industry and sector, control environment and business performance

- enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's 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 related to fraud or non-compliance with laws and regulations;

- obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements. The key laws and regulations we considered included the relevant provisions of the UK Companies Act, Financial Reporting Standards and accounting policies. 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 such as Food Standards Agency regulations.

Based upon this understanding we designed our audit procedures to identify non-compliance with such laws and regulations including:

- review of the financial statement disclosures to assess compliance with relevant laws and regulations having a direct impact on the financial statements

- enquiries of management concerning actual and potential ligation and claims

- testing journals and other adjustments; assessing judgements made in making accounting estimates and evaluating the business rationale of any significant unusual or unexpected transactions

We also communicated identified laws and regulations to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Christopher Humphreys FCA (Senior Statutory Auditor)

for and on behalf of Philip Barnes & Co Limited

Chartered Accountants

Statutory Auditors

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

29 September 2025

TURNOVER

3

5,192,890

5,703,027

Cost of sales

2,773,165

2,979,482

GROSS PROFIT

2,419,725

2,723,545

Distribution costs

1,155,782

1,440,641

Administrative expenses

1,279,508

1,390,065

2,435,290

2,830,706

(15,565

)

(107,161

)

Other operating income

71,770

247,163

OPERATING PROFIT

56,205

140,002

Interest receivable and similar income

2,050

7,017

PROFIT BEFORE TAXATION

5

58,255

147,019

Tax on profit

6

40,066

54,000

PROFIT FOR THE FINANCIAL YEAR

18,189

93,019

OTHER COMPREHENSIVE LOSS

Revaluation on asset disposal

-

(58,000

)

Income tax relating to other comprehensive loss

-

7,659

OTHER COMPREHENSIVE LOSS FOR THE YEAR, NET OF INCOME TAX

-

(50,341

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

18,189

42,678

FIXED ASSETS

Tangible assets

7

6,928,198

6,691,579

CURRENT ASSETS

Stocks

8

1,022,080

768,803

Debtors

9

286,316

274,766

Cash at bank and in hand

154,915

362,101

1,463,311

1,405,670

CREDITORS

Amounts falling due within one year

10

986,529

748,458

NET CURRENT ASSETS

476,782

657,212

TOTAL ASSETS LESS CURRENT LIABILITIES

7,404,980

7,348,791

PROVISIONS FOR LIABILITIES

12

638,000

600,000

NET ASSETS

6,766,980

6,748,791

CAPITAL AND RESERVES

Called up share capital

13

2,900

2,900

Revaluation reserve

4,051,227

4,051,227

Capital redemption reserve

100

100

Retained earnings

2,712,753

2,694,564

SHAREHOLDERS' FUNDS

6,766,980

6,748,791

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

G G Ingram - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 August 2022

2,900

2,601,545

4,101,568

100

6,706,113

Changes in equity

Total comprehensive income

-

93,019

(50,341

)

-

42,678

Balance at 31 December 2023

2,900

2,694,564

4,051,227

100

6,748,791

Changes in equity

Total comprehensive income

-

18,189

-

-

18,189

Balance at 31 December 2024

2,900

2,712,753

4,051,227

100

6,766,980

1.	STATUTORY INFORMATION

Planters Brookfields Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

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

-

straight line 25 years

Fixtures and fittings

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

£

£

Retail

3,754,056

4,249,538

Catering

1,396,968

1,453,489

Leisure activities

41,866

-

5,192,890

5,703,027

4.

EMPLOYEES

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

£

£

Wages and salaries

1,229,152

1,566,391

Social security costs

55,739

22,041

Other pension costs

20,827

27,047

1,305,718

1,615,479

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

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

Administration and management

6

4

Retail staff

80

70

86

74

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

£

£

Directors' remuneration

-

-

5.	PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

£

£

Hire of plant and machinery

35,358

8,710

Depreciation - owned assets

145,452

115,222

Profit on disposal of fixed assets

(8,607

)

(14,978

)

Auditors' remuneration

3,500

3,500

Management Charges

-

315,000

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

-

14,000

Prior year adjustment

2,066

-

Total current tax

2,066

14,000

Deferred tax

38,000

40,000

Tax on profit

40,066

54,000

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:

Period

1.8.22

Year Ended

to

31.12.24

31.12.23

£

£

Profit before tax

58,255

147,019

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

14,564

36,755

Effects of:

Expenses not deductible for tax purposes

7,944

6,449

Depreciation in excess of capital allowances

15,403

17,500

Tax rate

-

(2,565

)

Indexation

-

(5,390

)

Other

2,155

1,251

Total tax charge

40,066

54,000

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 December 2024.

1.8.22 to 31.12.23

Gross

Tax

Net

£

£

£

Revaluation on asset disposal

(58,000

)

7,659

(50,341

)

7.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

6,562,302

624,127

7,186,429

Additions

-

373,464

373,464

Disposals

-

(346,245

)

(346,245

)

At 31 December 2024

6,562,302

651,346

7,213,648

DEPRECIATION

At 1 January 2024

66,669

428,181

494,850

Charge for year

70,568

74,884

145,452

Eliminated on disposal

-

(354,852

)

(354,852

)

At 31 December 2024

137,237

148,213

285,450

NET BOOK VALUE

At 31 December 2024

6,425,065

503,133

6,928,198

At 31 December 2023

6,495,633

195,946

6,691,579

Included in cost or valuation of land and buildings is freehold land of £ 5,250,000 (2023 - £ 5,250,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2024

6,500,000

-

6,500,000

Cost

62,302

651,346

713,648

6,562,302

651,346

7,213,648

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

3,425,657

3,425,657

Aggregate depreciation

146,212

118,155

8.

STOCKS

2024

2023

£

£

Stocks

1,022,080

768,803

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

8,855

5,916

Amounts owed by group undertakings

244,837

223,324

Other debtors

7,634

6,583

Other taxation

15,560

-

Prepayments and accrued income

9,430

38,943

286,316

274,766

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

363,807

334,484

Tax

-

14,000

Social security and other taxes

181,932

111,539

Other creditors

428,790

257,634

Accruals and deferred income

12,000

30,801

986,529

748,458

11.	PRIOR YEAR ADJUSTMENT

There has been a re-statement of the 2023 opening provision for deferred taxation (see note 12) and the revaluation reserve of £450,000 in respect of prior years property revaluations following a review of the original property costs. This has reduced the revaluation reserve balance to £4,051,227.

There has been no change in the profit and loss in either 2023 or 2024 or retained earnings.

12.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

638,000

600,000

Deferred

tax

£

Balance at 1 January 2024

600,000

Accelerated capital allowances

38,000

Balance at 31 December 2024

638,000

The 2023 opening deferred tax provision has been restated as noted above.