REGISTERED NUMBER: 09914680 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INGRAM RETAILING LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Profit and loss account

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

G G Ingram

Mrs C Ingram

REGISTERED OFFICE:

Woodlands Farm

Freasley

Tamworth

Staffordshire

B78 2EY

REGISTERED NUMBER:

09914680 (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 of the company and the group 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 with branches operating under the Planters and Garden King brands. In addition the group operates a number of high street card shops under the Every Occasion brand.

Our aim is to provide a destination location for our customers with our garden centres not only having a wide range of garden goods but also our restaurants promoting locally sourced produce, together with other leisure activities such as Christmas Grottos and Ice Rinks and the Adventure Golf experience at our Tamworth centre.

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

15,795,126

15,106,461

Gross Profit

9,333,044

7,896,743

Net Profit Before Tax

1,305,165

1,067,098

An analysis of turnover is shown in note 3. The company has achieved increased turnover in all activities and there were substantial increases in catering sales and this has resulted in a significant increase in net profit.

The group 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.

In addition we continue to face additional risks due to the Covid - 19 , particularly the health and well being of our staff and customers, and we have implemented additional safeguards and procedures to mitigate these risks.

ON BEHALF OF THE BOARD:

G G Ingram - Director

29 September 2025

The directors present their report with the financial statements of the company and the group 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 Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

G G Ingram - Director

29 September 2025

Opinion

We have audited the financial statements of Ingram Retailing Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Profit and loss account, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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

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

18,323,329

15,795,126

Cost of sales

8,990,285

7,898,383

GROSS PROFIT

9,333,044

7,896,743

Selling and distribution costs

4,724,357

3,924,904

Administrative expenses

3,345,349

2,975,117

8,069,706

6,900,021

1,263,338

996,722

Other operating income

327,692

273,224

OPERATING PROFIT

5

1,591,030

1,269,946

Interest receivable and similar income

11,809

2,209

1,602,839

1,272,155

Interest payable and similar expenses

6

297,674

205,057

PROFIT BEFORE TAXATION

1,305,165

1,067,098

Tax on profit

7

375,685

321,010

PROFIT FOR THE FINANCIAL YEAR

929,480

746,088

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

929,480

746,088

Profit attributable to:

Owners of the parent

929,480

746,088

Total comprehensive income attributable to:

Owners of the parent

929,480

746,088

FIXED ASSETS

Intangible assets

9

1,140,932

3,750

Tangible assets

10

17,490,155

9,206,763

Investments

11

-

-

18,631,087

9,210,513

CURRENT ASSETS

Stocks

12

4,818,156

4,266,323

Debtors

13

952,382

482,395

Cash at bank and in hand

2,148,928

1,087,321

7,919,466

5,836,039

CREDITORS

Amounts falling due within one year

14

3,247,084

2,015,480

NET CURRENT ASSETS

4,672,382

3,820,559

TOTAL ASSETS LESS CURRENT LIABILITIES

23,303,469

13,031,072

CREDITORS

Amounts falling due after more than one year

15

(11,627,696

)

(3,088,634

)

PROVISIONS FOR LIABILITIES

19

(1,319,755

)

(516,000

)

NET ASSETS

10,356,018

9,426,438

CAPITAL AND RESERVES

Called up share capital

20

1,100

1,000

Retained earnings

21

10,354,918

9,425,438

SHAREHOLDERS' FUNDS

10,356,018

9,426,438

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

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

10,621,742

1,410,459

10,621,742

1,410,459

CURRENT ASSETS

Debtors

13

941,909

-

Cash at bank

272,127

-

1,214,036

-

CREDITORS

Amounts falling due within one year

14

3,575,974

1,409,459

NET CURRENT LIABILITIES

(2,361,938

)

(1,409,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,259,804

1,000

CREDITORS

Amounts falling due after more than one year

15

8,258,804

-

NET ASSETS

1,000

1,000

CAPITAL AND RESERVES

Called up share capital

20

1,000

1,000

SHAREHOLDERS' FUNDS

1,000

1,000

Company's profit for the financial year

-

-

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

8,679,350

8,680,350

Changes in equity

Total comprehensive income

-

746,088

746,088

Balance at 31 December 2023

1,000

9,425,438

9,426,438

Changes in equity

Issue of share capital

100

-

100

Total comprehensive income

-

929,480

929,480

Balance at 31 December 2024

1,100

10,354,918

10,356,018

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1,000

-

1,000

Changes in equity

Balance at 31 December 2023

1,000

-

1,000

Changes in equity

Balance at 31 December 2024

1,000

-

1,000

Cash flows from operating activities

Cash generated from operations

1

1,864,174

2,420,690

Interest paid

(297,674

)

(205,170

)

Interest element of hire purchase or finance lease rental payments paid

-

113

Tax paid

104,513

(252,104

)

Net cash from operating activities

1,671,013

1,963,529

Cash flows from investing activities

Purchase of intangible fixed assets

(340,274

)

-

Purchase of tangible fixed assets

(9,044,500

)

(2,813,799

)

Sale of tangible fixed assets

3,967

9,800

Interest received

11,809

2,209

Net cash from investing activities

(9,368,998

)

(2,801,790

)

Cash flows from financing activities

New loans in year

8,914,837

1,600,000

Loan repayments in year

(157,176

)

(708,235

)

Hire purchase repayments in year

-

(2,730

)

Directors current account

1,831

26,618

Share issue

100

-

Net cash from financing activities

8,759,592

915,653

Increase in cash and cash equivalents

1,061,607

77,392

Cash and cash equivalents at beginning of year

2

1,087,321

1,009,929

Cash and cash equivalents at end of year

2

2,148,928

1,087,321

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

1,305,165

1,067,098

Depreciation charges

792,048

622,914

Loss on disposal of fixed assets

8,183

17,900

Finance costs

297,674

205,057

Finance income

(11,809

)

(2,209

)

2,391,261

1,910,760

(Increase)/decrease in stocks

(551,833

)

695,181

Increase in trade and other debtors

(469,652

)

(131,214

)

Increase/(decrease) in trade and other creditors

494,398

(54,037

)

Cash generated from operations

1,864,174

2,420,690

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,148,928

1,087,321

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,087,321

1,009,929

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,087,321

1,061,607

2,148,928

1,087,321

1,061,607

2,148,928

Debt

Debts falling due within 1 year

(120,761

)

(218,599

)

(339,360

)

Debts falling due after 1 year

(3,088,634

)

(8,539,062

)

(11,627,696

)

(3,209,395

)

(8,757,661

)

(11,967,056

)

Total

(2,122,074

)

(7,696,054

)

(9,818,128

)

1.	STATUTORY INFORMATION

Ingram Retailing 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 General 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.

Basis of consolidation

The Group financial statements include the results of the parent undertaking and all its subsidiary undertakings.

Goodwill arising on consolidation, being the difference between the purchase consideration paid for the business and the fair value of the net assets acquired, is amortised over a period of 5 years..

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.

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

-

5% on cost, 3.33% - 5% on cost and not provided

Short leasehold

-

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

Fixtures and fittings

-

25% on cost, 15% on cost, 15% reducing balance, 15% - 20% reducing balance and 15% - 20% straight line

Motor vehicles

-

25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group'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 group.

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

2024

2023

£

£

Retail

11,658,338

11,655,224

Catering

5,872,136

3,401,149

Leisure activities

792,855

738,753

18,323,329

15,795,126

4.

EMPLOYEES

2024

2023

£

£

Wages and salaries

4,726,473

3,896,794

Social security costs

279,715

219,822

Other pension costs

105,485

84,457

5,111,673

4,201,073

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

2024

2023

Administration and management

22

15

Operating staff

386

269

408

284

2024

2023

£

£

Directors' remuneration

25,038

24,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Hire of plant and machinery

76,922

87,478

Depreciation - owned assets

748,958

617,913

Loss on disposal of fixed assets

8,183

17,900

Goodwill amortisation

43,092

5,000

Auditors' remuneration

24,900

15,700

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

11,071

43,560

Bank loan interest

286,603

161,610

Hire purchase

-

(113

)

297,674

205,057

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

409,550

76,000

Prior year adjustments

2,380

(6,990

)

Total current tax

411,930

69,010

Deferred tax

(36,245

)

252,000

Tax on profit

375,685

321,010