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REGISTERED NUMBER: 03688204 (England and Wales)

| POPLARS NURSERY GARDEN CENTRE LIMITED |

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 JANUARY 2025 |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 January 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Statement of Comprehensive Income | 9 |

| Statement of Financial Position | 10 |

| Statement of Changes in Equity | 11 |

| Statement of Cash Flows | 12 |

| Notes to the Statement of Cash Flows | 13 |

| Notes to the Financial Statements | 14 |

| POPLARS NURSERY GARDEN CENTRE LIMITED |

COMPANY INFORMATION

for the Year Ended 31 January 2025

| DIRECTORS: | D J Little

| Z Goodhand

| J C Little

| B Little

| C N Goodhand

| SECRETARY: | Z Goodhand

| REGISTERED OFFICE: | Poplars Nursery

| Harlington Road

| Toddington

| Dunstable

| Bedfordshire

| LU5 6HE

| REGISTERED NUMBER: | 03688204 (England and Wales)

| AUDITORS: | Miller & Co

| Chartered Accountants

| Statutory Auditors

| 5 Imperial Court

| Laporte Way

| Luton

| Bedfordshire

| LU4 8FE

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

STRATEGIC REPORT

for the Year Ended 31 January 2025

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS

The principal activity of the Company is the operation of a garden centre. As with many businesses in the retail sector, our sales have continued to be affected by the national concern surrounding rising inflation on prices. This has resulted in turnover decreasing slightly by 3% from £5.419m in 2023 to £5.235m this year. However, the gross profit margin has increased marginally to 53.89% compared to 51.18% last year.

The final results show a profit before tax of £397,804 for the year, compared to a profit of £497,161 in the previous period. At the balance sheet date the net assets of the company had increased by 1.6% to £5,655,751. The company continues to maintain a strong liquidity balance and the management do not have any particular concerns over any uncertainties that could face the company within the foreseeable future.

That said, the directors are continuing to monitor increasing costs and negotiate with its suppliers and service providers to manage them in a manner to minimise the impact on its customers. The directors and management continue to seek ways to improve growth by increasing the retail space and marketing new products. As with all businesses, the company is aware of the risks posed by cyber fraud and management continue to take measures to mitigate them as much as possible.

PRINCIPAL RISKS AND UNCERTAINTIES

Our main principal risks and uncertainties are general market conditions, pricing and competition. Looking forward, these risks are likely to continue, however, we consider that the business is in a good position to face these challenges, benefitting from a loyal customer base and strong cash reserves. The directors remain confident that the company can continue to strengthen its current level of performance and has the procedures, policies and internal controls in place to mitigate any potential risk.

FINANCIAL KEY PERFORMANCE INDICATORS

The company had total comprehensive income for the year ended 31 January 2025 of £280,226 (2024: £358,077) and has a strong net asset position of £5,655,751 (2024: £5,562,184).

ON BEHALF OF THE BOARD:

Z Goodhand - Secretary

22 August 2025

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

REPORT OF THE DIRECTORS

for the Year Ended 31 January 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

DIVIDENDS

Interim dividends per share were paid during the year as follows:

Ordinary 'A' £1 |  | - |  | £nil |  |

Ordinary 'B' £1 |  | - |  | £26,800 |  |

Ordinary 'C' £1 |  | - |  | £45,000 |  |

Ordinary 'D' £1 |  | - |  | £34,680 |  |

Ordinary 'E' £1 |  | - |  | £34,680 |  |

Ordinary 'F' £1 |  | - £45,500 |  |

The total distribution of dividends for the year ended 31 January 2025 will be £186,660.

DIRECTORS

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

D J Little

Z Goodhand

J C Little

B Little

Other changes in directors holding office are as follows:

C N Goodhand - appointed 1 February 2024

STREAMLINED ENERGY AND CARBON REPORTING

Although we are not required to report our energy use and carbon reduction measures these are important to us as a business and over the last 6 years we have significantly reduced our own energy consumption by installing LED lighting, energy efficient equipment, building insulation and in November 2024 installing over 1000 solar panels. In 2019 we purchased 516,000kWh of daytime electricity and we set this as our base level. 2020 and 2021 saw prolonged periods of closure of our restaurant and naturally consumption of electricity dropped considerably. In 2022 we reduced daytime electricity consumption to 401,785kWh despite installing 4 EV chargers. Consumption fell again in 2023 to 396,211kWh and in 2024 to 381,446kWh. The solar panels are forecast to reduce energy purchased from the grid to just under 200,000kWh and the export of surplus energy should see 175,000kWh returned to the grid. The net effect is a reduction of over 90% of daytime electricity's carbon footprint.

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.

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

REPORT OF THE DIRECTORS

for the Year Ended 31 January 2025

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, Miller & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Z Goodhand - Secretary

22 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

POPLARS NURSERY GARDEN CENTRE LIMITED

Opinion

We have audited the financial statements of Poplars Nursery Garden Centre Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of 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 the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

POPLARS NURSERY GARDEN CENTRE LIMITED

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

POPLARS NURSERY GARDEN CENTRE LIMITED

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 line with our responsibilities, outlined above, to detect material misstatements, including fraud.

Extent to which the audit was considered capable of detecting irregularities, including fraud

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.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to these risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry, control environment and business performance;

- the results of our enquiries of management about their own identification and assessments of the risks of

irregularities;

- any matters we identified having obtained and reviewed the company's policies and procedures relating to:

o identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of

non-compliance;

o detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or

alleged fraud;

o the matters discussed among the audit engagement team regarding how and where fraud might occur in the

financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, such as the Companies Act 2006.

In addition, we considered the 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 or to avoid a material penalty.

Audit response to risk identified

Our procedures to respond to risks identified included the following:

- Reviewing the financial statement disclosures to assess compliance with provisions of relevant laws and

regulations described as having a direct effect on the financial statements;

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

POPLARS NURSERY GARDEN CENTRE LIMITED

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate material

misstatement due to fraud;

- In addressing the risk of fraud through management override of controls, the testing of the appropriateness of

journal entries and other adjustments and evaluating the business rationale of any significant transactions that are

unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks 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.

Stephen Healy (Senior Statutory Auditor)

for and on behalf of Miller & Co

Chartered Accountants

Statutory Auditors

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

22 August 2025

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

STATEMENT OF COMPREHENSIVE

INCOME

for the Year Ended 31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 4 | 5,235,328 |  | 5,419,173 |  |

Cost of sales | 2,413,757 |  | 2,645,410 |  |

GROSS PROFIT | 2,821,571 |  | 2,773,763 |  |

Administrative expenses | 2,610,426 |  | 2,454,538 |  |

211,145 |  | 319,225 |  |

Other operating income | 170,399 |  | 174,894 |  |

OPERATING PROFIT | 6 | 381,544 |  | 494,119 |  |

Interest receivable and similar income | 16,260 |  | 3,042 |  |

PROFIT BEFORE TAXATION | 397,804 |  | 497,161 |  |

Tax on profit | 7 | 117,578 |  | 139,084 |  |

PROFIT FOR THE FINANCIAL YEAR | 280,226 |  | 358,077 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 280,226 |  | 358,077 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

STATEMENT OF FINANCIAL POSITION

31 January 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | (573,709 | ) | (597,614 | ) |

Tangible assets | 10 | 4,761,884 |  | 4,489,122 |  |

4,188,175 |  | 3,891,508 |  |

CURRENT ASSETS

Stocks | 11 | 689,339 |  | 746,804 |  |

Debtors | 12 | 79,137 |  | 33,585 |  |

Cash at bank and in hand | 1,265,127 |  | 1,569,500 |  |

2,033,603 |  | 2,349,889 |  |

CREDITORS

Amounts falling due within one year | 13 | 403,408 |  | 613,907 |  |

NET CURRENT ASSETS | 1,630,195 |  | 1,735,982 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,818,370 |  | 5,627,490 |  |

PROVISIONS FOR LIABILITIES | 14 | 162,619 |  | 65,306 |  |

NET ASSETS | 5,655,751 |  | 5,562,184 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 1,185 |  | 1,184 |  |

Share premium | 16 | 999,820 |  | 999,820 |  |

Retained earnings | 16 | 4,654,746 |  | 4,561,180 |  |

SHAREHOLDERS' FUNDS | 5,655,751 |  | 5,562,184 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2025 and were signed on its behalf by:

D J Little - Director

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

STATEMENT OF CHANGES IN EQUITY

for the Year Ended 31 January 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 February 2023 | 1,184 |  | 4,547,023 |  | 999,820 |  | 5,548,027 |  |

Changes in equity

Dividends | - |  | (343,920 | ) | - |  | (343,920 | ) |

Total comprehensive income | - |  | 358,077 |  | - |  | 358,077 |  |

Balance at 31 January 2024 | 1,184 |  | 4,561,180 |  | 999,820 |  | 5,562,184 |  |

Changes in equity

Issue of share capital | 1 |  | - |  | - |  | 1 |  |

Dividends | - |  | (186,660 | ) | - |  | (186,660 | ) |

Total comprehensive income | - |  | 280,226 |  | - |  | 280,226 |  |

Balance at 31 January 2025 | 1,185 |  | 4,654,746 |  | 999,820 |  | 5,655,751 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

STATEMENT OF CASH FLOWS

for the Year Ended 31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 483,886 |  | 913,293 |  |

Tax paid | (143,509 | ) | (52,297 | ) |

Net cash from operating activities | 340,377 |  | 860,996 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (474,351 | ) | (55,973 | ) |

Sale of tangible fixed assets | - |  | 23,500 |  |

Interest received | 16,260 |  | 3,042 |  |

Net cash from investing activities | (458,091 | ) | (29,431 | ) |

Cash flows from financing activities

Amount withdrawn by directors | - |  | (5,780 | ) |

Share issue | 1 |  | - |  |

Equity dividends paid | (186,660 | ) | (343,920 | ) |

Net cash from financing activities | (186,659 | ) | (349,700 | ) |

(Decrease)/increase in cash and cash equivalents | (304,373 | ) | 481,865 |  |

Cash and cash equivalents at beginning of year | 2 | 1,569,500 |  | 1,087,635 |  |

Cash and cash equivalents at end of year | 2 | 1,265,127 |  | 1,569,500 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE STATEMENT OF CASH FLOWS

for the Year Ended 31 January 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 397,804 |  | 497,161 |  |

| Depreciation charges | 177,684 |  | 162,594 |  |

| Loss on disposal of fixed assets | - |  | 5,424 |  |

| Finance income | (16,260 | ) | (3,042 | ) |

559,228 |  | 662,137 |  |

| Decrease in stocks | 57,465 |  | 268,763 |  |

| (Increase)/decrease in trade and other debtors | (45,552 | ) | 28,782 |  |

| Decrease in trade and other creditors | (87,255 | ) | (46,389 | ) |

| Cash generated from operations | 483,886 |  | 913,293 |  |

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 January 2025

| 31.1.25 |  | 1.2.24

£ | £ |

| Cash and cash equivalents | 1,265,127 |  | 1,569,500 |  |

| Year ended 31 January 2024

| 31.1.24 |  | 1.2.23

£ | £ |

| Cash and cash equivalents | 1,569,500 |  | 1,087,635 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.2.24 | Cash flow | At 31.1.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,569,500 |  | (304,373 | ) | 1,265,127 |  |

1,569,500 |  | (304,373 | ) | 1,265,127 |  |

| Total | 1,569,500 |  | (304,373 | ) | 1,265,127 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| Poplars Nursery 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.

| The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices (see below).

| Significant judgements and estimates

| In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

| 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 revision and future period, if the revision affects both current and future periods.

| When considering the inventory provision, management considers the nature and the condition of inventory, as well as applying assumptions around anticipated saleability of inventory held and recent sales performance of inventory lines.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns and discounts allowed by the company and value added taxes.

| The company operates a retail shop in the form of a garden centre. Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card. Sales are made to retail customers with a right to return within 28 days, subject to certain conditions regarding the usage.

| Intangible fixed assets

| Negative goodwill arose on the acquisition of the business during the year ended 29 February 2000. Under FRS 102 the negative goodwill is recognised in the income statement in the periods expected to be benefited. As the asset in question is freehold property the rate of amortisation of the negative goodwill is 2% straight line, to equate the amortisation rate to that of the depreciation charge on freehold property.

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

3. | ACCOUNTING POLICIES - continued

| 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

| Plant and machinery | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 25% on cost

| Tangible fixed assets are carried at historic purchase cost less accumulated depreciation.

| Stocks

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

| Cost is determined with reference to the most recent purchase price. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition.

| Financial instruments

| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities including cash and bank balances, trade and other accounts receivable and payable and loans from banks and other third parties.

| Basic financial assets and liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction or debt instrument is measured at the present value of future receipts discounted at a market rate of interest. Such assets and debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| 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 statement of financial position date.

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

3. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Other operating income

| Other operating income consists of income from concession partners and marketing support.

4. | 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:

| 2025 |  | 2024

£ | £ |

| Sale of goods | 5,235,328 |  | 5,419,173 |  |

5,235,328 |  | 5,419,173 |  |

5. | EMPLOYEES AND DIRECTORS

|  | 2025 |  |  | 2024 |  |

| £ |  |  | £ |  |

| Office & management salaries |  | 306,883 |  |  | 410,971 |  |

| Other staff wages |  | 1,156,751 |  |  | 1,004,875 |  |

| Office & management social security |  | 31,112 |  |  | 41,630 |  |

| Other staff social security |  | 70,282 |  |  | 46,000 |  |

| Office & management pension costs |  | 85,540 |  |  | 83,409 |  |

| Other staff pension costs |  | 32,164 |  |  | 23,331 |  |

|  | 1,682,732 |  |  | 1,610,216 |  |

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

|  | 2025 |  |  | 2024 |  |

| Office & management |  | 12 |  |  | 15 |  |

| Other staff |  | 84 |  |  | 90 |  |

|  | 96 |  |  | 105 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 41,615 |  | 31,978 |  |

| Directors' pension contributions to money purchase schemes | 77,978 |  | 72,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 3 |  | 2 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 22,508 |  | 21,632 |  |

| Depreciation - owned assets | 201,589 |  | 186,498 |  |

| Loss on disposal of fixed assets | - |  | 5,424 |  |

| Goodwill amortisation | (23,905 | ) | (23,905 | ) |

| Auditors' remuneration | 5,500 |  | 6,000 |  |

| Auditors' remuneration for non audit work | 17,394 |  | 18,569 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 20,266 |  | 143,526 |  |

| Deferred tax | 97,312 |  | (4,442 | ) |

| Tax on profit | 117,578 |  | 139,084 |  |

| UK corporation tax has been charged at 25% .

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

7. | TAXATION - continued

| 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:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 397,804 |  | 497,161 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 99,451 |  | 124,290 |  |

| Effects of:

| Capital allowances in excess of depreciation | (97,312 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 4,442 |  |

| Movement in deferred tax provision | 97,312 |  | (4,442 | ) |

| Depreciation on freehold property | 26,467 |  | 26,467 |  |

| Amortisation on negative goodwill | (5,976 | ) | (5,976 | ) |

| Marginal relief | (2,390 | ) | - |  |

| Effect of change in tax rate | - |  | (5,792 | ) |

| Add back disallowed entertaining | 26 |  | 95 |  |

| Total tax charge | 117,578 |  | 139,084 |  |

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary 'A' shares of £1 each |

| Interim | - |  | 200,000 |  |

| Ordinary 'B' share of £1 |

| Interim | 26,800 |  | 25,500 |  |

| Ordinary 'C' share of £1 |

| Interim | 45,000 |  | 37,500 |  |

| Ordinary 'D' share of £1 |

| Interim | 34,680 |  | 40,460 |  |

| Ordinary 'E' share of £1 |

| Interim | 34,680 |  | 40,460 |  |

| Ordinary 'F' share of £1 |

| Interim | 45,500 |  | - |  |

186,660 |  | 343,920 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

9. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 February 2024

| and 31 January 2025 | (1,099,999 | ) |

| AMORTISATION

| At 1 February 2024 | (502,385 | ) |

| Amortisation for year | (23,905 | ) |

| At 31 January 2025 | (526,290 | ) |

| NET BOOK VALUE

| At 31 January 2025 | (573,709 | ) |

| At 31 January 2024 | (597,614 | ) |

10. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and |  | Motor |  | Computer |

| property |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 February 2024 | 6,098,598 |  | 1,060,818 |  | 44,830 |  | 15,663 |  | 7,219,909 |  |

| Additions | - |  | 468,751 |  | - |  | 5,600 |  | 474,351 |  |

| At 31 January 2025 | 6,098,598 |  | 1,529,569 |  | 44,830 |  | 21,263 |  | 7,694,260 |  |

| DEPRECIATION

| At 1 February 2024 | 1,822,358 |  | 870,376 |  | 28,589 |  | 9,464 |  | 2,730,787 |  |

| Charge for year | 110,059 |  | 83,219 |  | 4,062 |  | 4,249 |  | 201,589 |  |

| At 31 January 2025 | 1,932,417 |  | 953,595 |  | 32,651 |  | 13,713 |  | 2,932,376 |  |

| NET BOOK VALUE

| At 31 January 2025 | 4,166,181 |  | 575,974 |  | 12,179 |  | 7,550 |  | 4,761,884 |  |

| At 31 January 2024 | 4,276,240 |  | 190,442 |  | 16,241 |  | 6,199 |  | 4,489,122 |  |

| Included in freehold property is land valued at £596,000 which is not depreciated.

11. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 689,339 |  | 746,804 |  |

12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 1,602 |  | 617 |  |

| Other debtors | - |  | 2,575 |  |

| Prepayments | 77,535 |  | 30,393 |  |

79,137 |  | 33,585 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 109,837 |  | 224,577 |  |

| Tax | 20,266 |  | 143,509 |  |

| Social security and other taxes | 18,486 |  | 24,297 |  |

| VAT | 178,074 |  | 153,294 |  |

| Other creditors | 36,981 |  | 22,868 |  |

| Accrued expenses | 39,764 |  | 45,362 |  |

403,408 |  | 613,907 |  |

14. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 162,619 |  | 65,306 |  |

| Deferred |

| tax |

£ |

| Balance at 1 February 2024 | 65,306 |  |

| Provided during year | 97,313 |  |

| Balance at 31 January 2025 | 162,619 |  |

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1,180 | Ordinary 'A' | £1 | 1,180 |  | 1,180 |  |

| 1 | Ordinary 'B' | £1 | 1 |  | 1 |  |

| 1 | Ordinary 'C' | £1 | 1 |  | 1 |  |

| 1 | Ordinary 'D' | £1 | 1 |  | 1 |  |

| 1 | Ordinary 'E' | £1 | 1 |  | 1 |  |

| 1 | Ordinary 'F' | £1 | 1 |  | - |  |

1,185 |  | 1,184 |  |

| The following shares were issued during the year for cash at par :

| 1 Ordinary 'F' share of £1

16. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 February 2024 | 4,561,180 |  | 999,820 |  | 5,561,000 |  |

| Profit for the year | 280,226 |  | 280,226 |  |

| Dividends | (186,660 | ) | (186,660 | ) |

| At 31 January 2025 | 4,654,746 |  | 999,820 |  | 5,654,566 |  |

POPLARS NURSERY GARDEN CENTRE LIMITED (REGISTERED NUMBER: 03688204) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 January 2025

17. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is the board of directors.