REGISTERED NUMBER: 03034099 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PLANTERS GARDEN CENTRE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Profit and loss account

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

G G Ingram

Mrs C Ingram

SECRETARY:

Mrs C Ingram

REGISTERED OFFICE:

Woodlands Farm

Freasley

Tamworth

Staffordshire

B78 2EY

REGISTERED NUMBER:

03034099 (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.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

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 our restaurant promoting locally sourced produce, but also our leisure facilities which include the Christmas Grotto and Adventure Golf experiences.

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

8,389,277

7,984,740

Gross Profit

4,254,504

4,025,029

Net Profit Before Tax

864,393

823,508

An analysis of turnover is shown in note 3, showing increases in both retail and catering sales.

The company has achieved an increase in trading profits again in 2024 and the directors believe that sales and profits will improve again in the coming 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, are deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

G G Ingram - Director

29 September 2025

Opinion

We have audited the financial statements of Planters Garden Centre Limited (the 'company') for the year ended 31 December 2024 which comprise the Profit and loss account, 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

8,389,277

7,984,740

Cost of sales

4,134,773

3,959,711

GROSS PROFIT

4,254,504

4,025,029

Selling and distribution costs

2,084,959

1,943,145

Administrative expenses

1,546,009

1,403,271

3,630,968

3,346,416

623,536

678,613

Other operating income

359,895

301,911

OPERATING PROFIT

5

983,431

980,524

Interest receivable and similar income

7,833

-

991,264

980,524

Interest payable and similar expenses

6

126,871

157,016

PROFIT BEFORE TAXATION

864,393

823,508

Tax on profit

7

249,184

222,636

PROFIT FOR THE FINANCIAL YEAR

615,209

600,872

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

615,209

600,872

FIXED ASSETS

Intangible assets

8

-

3,750

Tangible assets

9

3,321,531

3,537,630

3,321,531

3,541,380

CURRENT ASSETS

Stocks

10

1,739,246

1,794,164

Debtors

11

4,912,157

4,063,828

Cash at bank and in hand

510,435

284,790

7,161,838

6,142,782

CREDITORS

Amounts falling due within one year

12

1,242,876

957,636

NET CURRENT ASSETS

5,918,962

5,185,146

TOTAL ASSETS LESS CURRENT LIABILITIES

9,240,493

8,726,526

CREDITORS

Amounts falling due after more than one year

13

(1,448,821

)

(1,536,063

)

PROVISIONS FOR LIABILITIES

17

(127,000

)

(141,000

)

NET ASSETS

7,664,672

7,049,463

CAPITAL AND RESERVES

Called up share capital

18

1,000

1,000

Retained earnings

19

7,663,672

7,048,463

SHAREHOLDERS' FUNDS

7,664,672

7,049,463

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

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1,000

6,447,591

6,448,591

Changes in equity

Total comprehensive income

-

600,872

600,872

Balance at 31 December 2023

1,000

7,048,463

7,049,463

Changes in equity

Total comprehensive income

-

615,209

615,209

Balance at 31 December 2024

1,000

7,663,672

7,664,672

1.	STATUTORY INFORMATION

Planters Garden Centre 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.

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);

•

the requirement of paragraph 33.7.

Turnover

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

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.

Goodwill paid on a business acquisition is being amortised over its estimated useful life of five years.

Tangible fixed assets

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

Leasehold property

-

4% - 8% straight line and 25% straight line

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% reducing balance

Stocks

Stocks are valued at lower of cost and using the first in first out method, and estimated selling price less costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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:

2024

2023

£

£

Retail

5,923,308

5,655,884

Catering

2,213,039

2,059,247

Leisure activities

252,930

269,609

8,389,277

7,984,740

4.

EMPLOYEES

2024

2023

£

£

Wages and salaries

2,121,007

1,958,119

Social security costs

122,199

113,300

Other pension costs

44,124

40,054

2,287,330

2,111,473

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

2024

2023

Administration and management

9

8

Operating staff

144

148

153

156

2024

2023

£

£

Directors' remuneration

24,750

24,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Hire of plant and machinery

9,900

10,470

Depreciation - owned assets

308,916

297,740

Loss on disposal of fixed assets

6,477

-

Goodwill amortisation

3,750

5,000

Auditors' remuneration

7,500

6,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

9,134

43,560

Bank loan interest

117,737

113,456

126,871

157,016

7.

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

209,900

28,000

Prior year adjustments

3,184

(7,364

)

Group relief

50,100

207,000

Total current tax

263,184

227,636

Deferred tax

(14,000

)

(5,000

)

Tax on profit

249,184

222,636

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

864,393

823,508

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

216,098

205,877

Effects of:

Expenses not deductible for tax purposes

3,936

700

Adjustments to tax charge in respect of previous periods

3,184

(7,364

)

Change in tax rates

-

(14,738

)

Depreciation on non qualifying assets

26,911

37,032

Other

(945

)

1,129

Total tax charge

249,184

222,636

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

25,000

AMORTISATION

At 1 January 2024

21,250

Amortisation for year

3,750

At 31 December 2024

25,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

3,750

9.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Leasehold

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

1,011,251

4,495,268

2,122,054

50,190

7,678,763

Additions

-

6,626

93,084

-

99,710

Disposals

-

-

(1,058,108

)

-

(1,058,108

)

At 31 December 2024

1,011,251

4,501,894

1,157,030

50,190

6,720,365

DEPRECIATION

At 1 January 2024

39,413

2,444,887

1,623,447

33,386

4,141,133

Charge for year

17,517

147,922

139,276

4,201

308,916

Eliminated on disposal

-

-

(1,051,215

)

-

(1,051,215

)

At 31 December 2024

56,930

2,592,809

711,508

37,587

3,398,834

NET BOOK VALUE

At 31 December 2024

954,321

1,909,085

445,522

12,603

3,321,531

At 31 December 2023

971,838

2,050,381

498,607

16,804

3,537,630

Included in cost of land and buildings is freehold land of £ 573,328 (2023 - £ 573,328 ) which is not depreciated.

10.

STOCKS

2024

2023

£

£

Finished goods

1,739,246

1,794,164

11.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

8,100

7,734

Amounts owed by group undertakings

2,835,737

2,229,142

Other debtors

447,176

217,360

Corporation tax

-

5,000

Prepayments and accrued income

121,144

104,592

3,412,157

2,563,828

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,500,000

1,500,000

Aggregate amounts

4,912,157

4,063,828

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 14)

85,564

83,897

Trade creditors

459,089

420,253

Amounts owed to group undertakings

26,084

4,533

Corporation tax

209,900

-

Social security and other taxes

389,127

383,472

Directors' current accounts

47,912

46,081

Accruals and deferred income

25,200

19,400

1,242,876

957,636

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 14)

1,448,821

1,536,063

14.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

85,564

83,897

Amounts falling due between one and two years:

Bank loans

92,298

90,500

Amounts falling due between two and five years:

Bank loans

254,169

249,215

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

1,102,354

1,196,348

The company has a bank loan that falls due in more than 5 years. Interest at a variable rate of National Westminster Bank's base rate plus 2.35% is charged on the loan.

15.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

102,500

102,500

Between one and five years

153,750

256,250

256,250

358,750