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REGISTERED NUMBER: 04917198 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 January 2025

for

Victoria Farm Garden Centre Ltd

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

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 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

Victoria Farm Garden Centre Ltd

Company Information

for the Year Ended 31 January 2025

| DIRECTORS: | Mr P R Noble

| Mr M W Noble

| Mrs J M Noble

| REGISTERED OFFICE: | Victoria Farm Garden Centre

| Guisborough Road

| Whitby

| North Yorkshire

| YO21 1TL

| REGISTERED NUMBER: | 04917198 (England and Wales)

| INDEPENDENT AUDITORS: | Fortus Audit LLP (Statutory Auditor)

| Equinox House

| Clifton Park

| Shipton Road

| York

| Yorkshire

| YO30 5PA

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

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

Victoria Farm Garden Centre Ltd operate two garden centres, each having an onsite café/restaurant, as well as cottages and a caravan park. This is the second year in which the business has been required to complete an audit of their accounts. The directors are satisfied with the company's results this year - profits are as expected. Turnover has increased by 4.8%. Stock is also being held at a lower levels compared to previous years (resulting in a lower stock value), with a better track of stock kept to ensure this stays within expectation. The bank loan is expected to be fully settled next year, and trade creditors have decreased by 26.7% compared to last year. Trade debtors remain negligible.

PRINCIPAL RISKS AND UNCERTAINTIES

A potential risk to us would have to be the uncertainty of the possible claim against us by Network Rail following the landslip at Airy Hill Caravan Park and the withholding of the money set aside for such matter. Our Insurers are dealing with this on our behalf however we do not know when to expect an outcome at this time. This remains the same from last year as we are still awaiting an outcome. The Directors opinion is that there is no basis for a claim, hence no provision has been made within the accounts.

The government's changes to national minimum wage and NI contributions is likely to have some effect on next year's figures, though the extent of which is not yet known.

ON BEHALF OF THE BOARD:

Mr M W Noble - Director

7 October 2025

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

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.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the operation of garden centres with restaurant facilities.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2025.

DIRECTORS

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

Mr P R Noble

Mr M W Noble

Mrs J M Noble

The matters required in the Directors Report are covered in the Strategic Report as the Directors consider them to be of strategic significance.

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.

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Report of the Directors

for the Year Ended 31 January 2025

AUDITORS

The auditors, Fortus Audit LLP (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr M W Noble - Director

7 October 2025

Report of the Independent Auditors to the Members of

Victoria Farm Garden Centre Ltd

Opinion

We have audited the financial statements of Victoria Farm Garden Centre Ltd (the 'company') for the year ended 31 January 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 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

Victoria Farm Garden Centre Ltd

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

Victoria Farm Garden Centre Ltd

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 in respect to irregularities including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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.

Frances Howard FCA (Senior Statutory Auditor)

for and on behalf of Fortus Audit LLP (Statutory Auditor)

Equinox House

Clifton Park

Shipton Road

York

Yorkshire

YO30 5PA

7 October 2025

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Income Statement

for the Year Ended 31 January 2025

| 31.1.25 |  | 31.1.24

| Notes | £ | £ |

TURNOVER | 3 | 3,868,520 |  | 3,690,379 |  |

Cost of sales | 1,563,115 |  | 1,675,717 |  |

GROSS PROFIT | 2,305,405 |  | 2,014,662 |  |

Administrative expenses | 2,041,754 |  | 2,162,400 |  |

263,651 |  | (147,738 | ) |

Other operating income | 2,427 |  | 93 |  |

OPERATING PROFIT/(LOSS) | 5 | 266,078 |  | (147,645 | ) |

Interest receivable and similar income | 19,046 |  | 10,897 |  |

285,124 |  | (136,748 | ) |

Interest payable and similar expenses | 7 | 11,867 |  | 24,065 |  |

PROFIT/(LOSS) BEFORE TAXATION | 273,257 |  | (160,813 | ) |

Tax on profit/(loss) | 8 | 159,888 |  | (2,282 | ) |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 113,369 |  | (158,531 | ) |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Other Comprehensive Income

for the Year Ended 31 January 2025

| 31.1.25 |  | 31.1.24

| Notes | £ | £ |

PROFIT/(LOSS) FOR THE YEAR | 113,369 |  | (158,531 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 113,369 |  | (158,531 | ) |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Balance Sheet

31 January 2025

| 31.1.25 | 31.1.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 153,125 |  | 214,375 |  |

Tangible assets | 11 | 4,401,583 |  | 4,512,085 |  |

4,554,708 |  | 4,726,460 |  |

CURRENT ASSETS

Stocks | 12 | 444,599 |  | 480,759 |  |

Debtors | 13 | 32,041 |  | 13,798 |  |

Cash at bank and in hand | 1,803,596 |  | 1,545,645 |  |

2,280,236 |  | 2,040,202 |  |

CREDITORS

Amounts falling due within one year | 14 | 533,139 |  | 561,647 |  |

NET CURRENT ASSETS | 1,747,097 |  | 1,478,555 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,301,805 |  | 6,205,015 |  |

CREDITORS

Amounts falling due after more than one year | 15 | - |  | (60,907 | ) |

PROVISIONS FOR LIABILITIES | 20 | (211,278 | ) | (166,950 | ) |

NET ASSETS | 6,090,527 |  | 5,977,158 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 4 |  | 4 |  |

Retained earnings | 22 | 6,090,523 |  | 5,977,154 |  |

SHAREHOLDERS' FUNDS | 6,090,527 |  | 5,977,158 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2025 and were signed on its behalf by:

Mr M W Noble - Director | Mrs J M Noble - Director

Mr P R Noble - Director

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Statement of Changes in Equity

for the Year Ended 31 January 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 February 2023 | 4 |  | 6,175,685 |  | 6,175,689 |  |

Changes in equity

Dividends | - |  | (40,000 | ) | (40,000 | ) |

Total comprehensive income | - |  | (158,531 | ) | (158,531 | ) |

Balance at 31 January 2024 | 4 |  | 5,977,154 |  | 5,977,158 |  |

Changes in equity

Total comprehensive income | - |  | 113,369 |  | 113,369 |  |

Balance at 31 January 2025 | 4 |  | 6,090,523 |  | 6,090,527 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Cash Flow Statement

for the Year Ended 31 January 2025

| 31.1.25 |  | 31.1.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 509,840 |  | 427,494 |  |

Interest paid | (11,867 | ) | (24,065 | ) |

Tax paid | (4,126 | ) | (113,973 | ) |

Net cash from operating activities | 493,847 |  | 289,456 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (81,977 | ) | (136,804 | ) |

Sale of tangible fixed assets | 17,500 |  | - |  |

Interest received | 19,046 |  | 10,897 |  |

Net cash from investing activities | (45,431 | ) | (125,907 | ) |

Cash flows from financing activities

Loan repayments in year | (178,989 | ) | (178,313 | ) |

Amount introduced by directors | 17,743 |  | 40,000 |  |

Amount withdrawn by directors | (29,219 | ) | (28,540 | ) |

Equity dividends paid | - |  | (40,000 | ) |

Net cash from financing activities | (190,465 | ) | (206,853 | ) |

Increase/(decrease) in cash and cash equivalents | 257,951 |  | (43,304 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,545,645 |  | 1,588,949 |  |

Cash and cash equivalents at end of year | 2 | 1,803,596 |  | 1,545,645 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Cash Flow Statement

for the Year Ended 31 January 2025

1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.1.25 |  | 31.1.24

£ | £ |

| Profit/(loss) before taxation | 273,257 |  | (160,813 | ) |

| Depreciation charges | 246,726 |  | 249,626 |  |

| (Profit)/loss on disposal of fixed assets | (10,497 | ) | 23,717 |  |

| Finance costs | 11,867 |  | 24,065 |  |

| Finance income | (19,046 | ) | (10,897 | ) |

502,307 |  | 125,698 |  |

| Decrease in stocks | 36,160 |  | 180,893 |  |

| Decrease in trade and other debtors | 2,190 |  | 16,349 |  |

| (Decrease)/increase in trade and other creditors | (30,817 | ) | 104,554 |  |

| Cash generated from operations | 509,840 |  | 427,494 |  |

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 January 2025

| 31.1.25 |  | 1.2.24

£ | £ |

| Cash and cash equivalents | 1,803,596 |  | 1,545,645 |  |

| Year ended 31 January 2024

| 31.1.24 |  | 1.2.23

£ | £ |

| Cash and cash equivalents | 1,545,645 |  | 1,588,949 |  |

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 | 1,545,645 |  | 257,951 |  | 1,803,596 |  |

1,545,645 |  | 257,951 |  | 1,803,596 |  |

| Debt

| Debts falling due within 1 year | (177,778 | ) | 118,082 |  | (59,696 | ) |

| Debts falling due after 1 year | (60,907 | ) | 60,907 |  | - |  |

(238,685 | ) | 178,989 |  | (59,696 | ) |

| Total | 1,306,960 |  | 436,940 |  | 1,743,900 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| Victoria Farm Garden Centre Ltd 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 directors have considered the financial position of the company and its trading projections and have a

| reasonable expectation that the company has adequate resources to continue trade into the foreseeable future.

| The company therefore continues to adopt the going concern basis in preparing the financial statements.

| Significant judgements and estimates

| The preparation of financial statements require management to make estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The directors are of the opinion that there are no areas of estimation uncertainty and critical judgements that affect materially the accounting policies and the reported amounts of assets, liabilities, income and expenses in the current year or prior year.

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

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

| There are no Intangible Assets other than Goodwill.

| Tangible fixed assets

| Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses.

| Depreciation is provided at the following rates in order to write off each asset over its estimated life:

| Property & Property Improvements = 2% Straight Line

| Fixtures & Fittings = 10% Reducing Balance

| Motor Vehicles = 20% Reducing Balance

| Office Equipment = 33% Straight Line

| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Stocks

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

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the 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.

| 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.

| Financial instruments

| All company financial assets and liabilities are basic financial instruments measured at amortised costs.

3. | TURNOVER

| The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company.

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

| 31.1.25 |  | 31.1.24

£ | £ |

| Whitby Garden Centre | 608,279 |  | 597,525 |  |

| Selby Garden Centre | 1,203,946 |  | 1,202,530 |  |

| Whitby Café | 544,112 |  | 495,525 |  |

| Selby Restaurant | 1,273,179 |  | 1,147,996 |  |

| Caravan rents | 71,145 |  | 78,224 |  |

| Caravan electric/shower tokens | 11,444 |  | 2,306 |  |

| Holiday Cottages | 147,136 |  | 155,697 |  |

| Commission on vouchers | 6,579 |  | 7,876 |  |

| Own consumption | 2,700 |  | 2,700 |  |

3,868,520 |  | 3,690,379 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

4. | EMPLOYEES AND DIRECTORS

| 31.1.25 |  | 31.1.24

£ | £ |

| Wages and salaries | 1,245,516 |  | 1,263,667 |  |

| Social security costs | 75,689 |  | 57,355 |  |

| Other pension costs | 16,680 |  | 11,482 |  |

1,337,885 |  | 1,332,504 |  |

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

| 31.1.25 |  | 31.1.24

| Directors | 3 |  | 3 |  |

| Other staff | 68 |  | 62 |  |

71 |  | 65 |  |

| The directors are the key management personnel of the entity.

| 31.1.25 |  | 31.1.24

£ | £ |

| Directors' remuneration | 129,648 |  | 103,290 |  |

| The Directors remuneration stated above relates to the total salaries paid to the three Directors.

| Two of the Directors had pension contributions paid by the company during the year. The total Directors pension contributions paid during the year was £120,000. Last year, two directors had total pension contributions of £318,600.

5. | OPERATING PROFIT/(LOSS)

| The operating profit (2024 - operating loss) is stated after charging/(crediting):

| 31.1.25 |  | 31.1.24

£ | £ |

| Hire of plant and machinery | 14,493 |  | 14,993 |  |

| Other operating leases | 36,000 |  | 30,000 |  |

| Depreciation - owned assets | 185,476 |  | 188,377 |  |

| (Profit)/loss on disposal of fixed assets | (10,497 | ) | 23,717 |  |

| Goodwill amortisation | 61,250 |  | 61,250 |  |

6. | AUDITORS' REMUNERATION

| 31.1.25 |  | 31.1.24

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 8,200 |  | 8,000 |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loan interest | 11,814 |  | 24,065 |  |

| Statutory fines and interest | 53 |  | - |  |

11,867 |  | 24,065 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

8. | TAXATION

| Analysis of the tax charge/(credit)

| The tax charge/(credit) on the profit for the year was as follows:

| 31.1.25 |  | 31.1.24

£ | £ |

| Current tax:

| UK corporation tax | 115,560 |  | (4,126 | ) |

| Deferred tax | 44,328 |  | 1,844 |  |

| Tax on profit/(loss) | 159,888 |  | (2,282 | ) |

| Reconciliation of total tax charge/(credit) 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:

| 31.1.25 |  | 31.1.24

£ | £ |

| Profit/(loss) before tax | 273,257 |  | (160,813 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 19%) | 68,314 |  | (30,554 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 1,597 |  | - |  |

| Depreciation in excess of capital allowances | 45,649 |  | 26,428 |  |

| Deferred tax movement | 44,328 |  | 1,844 |  |

| Total tax charge/(credit) | 159,888 |  | (2,282 | ) |

9. | DIVIDENDS

| 31.1.25 |  | 31.1.24

£ | £ |

| Ordinary A shares of 1 each

| Interim | - |  | 40,000 |  |

10. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 February 2024

| and 31 January 2025 | 662,500 |  |

| AMORTISATION

| At 1 February 2024 | 448,125 |  |

| Amortisation for year | 61,250 |  |

| At 31 January 2025 | 509,375 |  |

| NET BOOK VALUE

| At 31 January 2025 | 153,125 |  |

| At 31 January 2024 | 214,375 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

11. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| Freehold |  | to |  | and

| property |  | property |  | fittings

£ | £ | £ |

| COST

| At 1 February 2024 | 2,701,313 |  | 1,676,453 |  | 1,322,423 |  |

| Additions | - |  | 10,845 |  | 53,493 |  |

| Disposals | - |  | - |  | - |  |

| At 31 January 2025 | 2,701,313 |  | 1,687,298 |  | 1,375,916 |  |

| DEPRECIATION

| At 1 February 2024 | 612,360 |  | 132,007 |  | 466,312 |  |

| Charge for year | 54,026 |  | 33,746 |  | 90,970 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 January 2025 | 666,386 |  | 165,753 |  | 557,282 |  |

| NET BOOK VALUE

| At 31 January 2025 | 2,034,927 |  | 1,521,545 |  | 818,634 |  |

| At 31 January 2024 | 2,088,953 |  | 1,544,446 |  | 856,111 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 February 2024 | 73,818 |  | 375 |  | 5,774,382 |  |

| Additions | 17,495 |  | 144 |  | 81,977 |  |

| Disposals | (25,779 | ) | - |  | (25,779 | ) |

| At 31 January 2025 | 65,534 |  | 519 |  | 5,830,580 |  |

| DEPRECIATION

| At 1 February 2024 | 51,494 |  | 124 |  | 1,262,297 |  |

| Charge for year | 6,563 |  | 171 |  | 185,476 |  |

| Eliminated on disposal | (18,776 | ) | - |  | (18,776 | ) |

| At 31 January 2025 | 39,281 |  | 295 |  | 1,428,997 |  |

| NET BOOK VALUE

| At 31 January 2025 | 26,253 |  | 224 |  | 4,401,583 |  |

| At 31 January 2024 | 22,324 |  | 251 |  | 4,512,085 |  |

12. | STOCKS

| 31.1.25 |  | 31.1.24

£ | £ |

| Stock | 444,599 |  | 480,759 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

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

| 31.1.25 |  | 31.1.24

£ | £ |

| Trade debtors | 491 |  | 1,811 |  |

| Other debtors | 2,119 |  | 2,359 |  |

| Tax refund debtor | - |  | 4,126 |  |

| Directors' current accounts | 20,433 |  | - |  |

| Prepayments | 8,998 |  | 5,502 |  |

32,041 |  | 13,798 |  |

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

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans and overdrafts (see note 16) | 59,696 |  | 177,778 |  |

| Trade creditors | 173,921 |  | 237,220 |  |

| Tax | 111,434 |  | - |  |

| Social security and other taxes | 14,005 |  | 9,819 |  |

| Pension control | 3,117 |  | 1,834 |  |

| Net wages control | 982 |  | 352 |  |

| VAT | 109,217 |  | 78,088 |  |

| Other creditors | 1,276 |  | 888 |  |

| Directors' current accounts | 23,382 |  | 14,425 |  |

| Accrued expenses | 36,109 |  | 41,243 |  |

533,139 |  | 561,647 |  |

15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans (see note 16) | - |  | 60,907 |  |

16. | LOANS

| An analysis of the maturity of loans is given below:

| 31.1.25 |  | 31.1.24

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 59,696 |  | 177,778 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | - |  | 60,907 |  |

17. | LEASING AGREEMENTS

| The operating lease figure comprises of annual storage costs of £36,000. The storage costs are expected to stay the same next year.

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans | 59,696 |  | 238,685 |  |

| There is a Legal Mortgage held by the Clydesdale Bank PLC over Airy Hill Caravan Park and Cottages,

| Whitby, North Yorkshire and a fixed and floating charge over the undertaking and all its assets.

19. | FINANCIAL INSTRUMENTS

| The company uses various financial instruments in order to ensure sufficient working capital for the business, and to allow the ongoing operation of all sites. These include cash at bank, cash held at premises and bank loan borrowing.

| The existence of these financial instruments exposes the company to a number of financial risks.

| The company manages these risks by use of fixed rate borrowing, and by maintaining careful control of the cash flows of the business. Cash held on the premises is kept at a level which is deemed appropriate for a float for the tills, and cash to be banked is kept secure until such point that it is deposited into the bank.

20. | PROVISIONS FOR LIABILITIES

| 31.1.25 |  | 31.1.24

£ | £ |

| Deferred tax

| Accelerated capital allowances | 211,278 |  | 166,950 |  |

| Deferred |

| tax |

£ |

| Balance at 1 February 2024 | 166,950 |  |

| Provided during year | 44,328 |  |

| Balance at 31 January 2025 | 211,278 |  |

21. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.1.25 |  | 31.1.24

| value: | £ | £ |

| 4 | Ordinary A | 1 | 4 |  | 4 |  |

22. | RESERVES

| Retained

| earnings

£ |

| At 1 February 2024 | 5,977,154 |  |

| Profit for the year | 113,369 |  |

| At 31 January 2025 | 6,090,523 |  |

Victoria Farm Garden Centre Ltd (Registered number: 04917198)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

23. | CAPITAL COMMITMENTS

| 31.1.25 |  | 31.1.24

£ | £ |

| Contracted but not provided for in the

| financial statements | - |  | 24,000 |  |

24. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

| 31.1.25 |  | 31.1.24

£ | £ |

| Mrs J M Noble

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 20,433 |  | - |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 20,433 |  | - |  |

25. | RELATED PARTY DISCLOSURES

| During the year the company loaned money to Dean Hall Minerals Limited who share the same directors. The amount owed to the company at the year end date was £1,648 (2024 = nil). The loan is repayable on demand and interest free.

| The storage costs (under operating leases in note 17) arise from rent charges on the land used for storage, which belongs to the directors.

| Included in creditors is a total of £23,382 (2024: £14,425) due to company directors. There are no formal repayments terms for the directors' current accounts, which are classified as repayable on demand, and are interest free.