Whisby Garden Centre Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13867020

WHISBY GARDEN CENTRE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

WHISBY GARDEN CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

FIXED ASSETS

Intangible assets	5	6,079	7,598
Tangible assets	6	3,514,392	2,794,998
		-------------	-------------
		3,520,471	2,802,596

CURRENT ASSETS

Stocks		340,000	345,000
Debtors	7	409,130	335,953
Cash at bank and in hand		110,455	245,477
		----------	----------
		859,585	926,430

CREDITORS: amounts falling due within one year	8	( 1,043,158)	( 668,754)
		-------------	----------
NET CURRENT (LIABILITIES)/ASSETS		( 183,573)	257,676
		-------------	-------------
TOTAL ASSETS LESS CURRENT LIABILITIES		3,336,898	3,060,272

CREDITORS: amounts falling due after more than one year	9	( 1,439,381)	( 1,134,570)

PROVISIONS	( 19,175)	( 20,601)
	-------------	-------------
NET ASSETS	1,878,342	1,905,101
	-------------	-------------

CAPITAL AND RESERVES

Called up share capital	1,661,705	1,661,705
Profit and loss account	216,637	243,396
	-------------	-------------
SHAREHOLDERS FUNDS	1,878,342	1,905,101
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WHISBY GARDEN CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

J Mcguire

Director

Company registration number: 13867020

WHISBY GARDEN CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whisby Garden Centre, Whisby Road, Lincoln, LN6 9BY, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

	Website	-	20% reducing balance

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 42 (2024: 28 ).

5. Intangible assets

	Website
	£
Cost
At 1 April 2024 and 31 March 2025	9,907
	-------
Amortisation
At 1 April 2024	2,309
Charge for the year	1,519
	-------
At 31 March 2025	3,828
	-------
Carrying amount
At 31 March 2025	6,079
	-------
At 31 March 2024	7,598
	-------

6. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	2,763,878	23,969	20,794	25,022	2,833,663
Additions	724,738	26,500	–	–	751,238
	-------------	---------	---------	---------	-------------
At 31 March 2025	3,488,616	50,469	20,794	25,022	3,584,901
	-------------	---------	---------	---------	-------------
Depreciation
At 1 April 2024	15,910	7,348	7,797	7,610	38,665
Charge for the year	19,581	5,532	3,249	3,482	31,844
	-------------	---------	---------	---------	-------------
At 31 March 2025	35,491	12,880	11,046	11,092	70,509
	-------------	---------	---------	---------	-------------
Carrying amount
At 31 March 2025	3,453,125	37,589	9,748	13,930	3,514,392
	-------------	---------	---------	---------	-------------
At 31 March 2024	2,747,968	16,621	12,997	17,412	2,794,998
	-------------	---------	---------	---------	-------------

7. Debtors

	2025	2024
	£	£
Trade debtors	2,786	47
Amounts owed by group undertakings and undertakings in which the company has a participating interest	364,809	318,129
Other debtors	41,535	17,777
	----------	----------
	409,130	335,953
	----------	----------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	195,260	162,858
Trade creditors	398,059	165,655
Amounts owed to group undertakings and undertakings in which the company has a participating interest	297,035	211,082
Corporation tax	25,827	24,687
Social security and other taxes	46,520	42,810
Other creditors	80,457	61,662
	-------------	----------
	1,043,158	668,754
	-------------	----------

Bank loans are secured by means of a fixed and floating charge covering all property of the company.

Hire purchase liabilities of £167,547 (2024 - £45,058) included within other creditors are secured on the assets to which they relate.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,284,864	962,912
Other creditors	154,517	171,658
	-------------	-------------
	1,439,381	1,134,570
	-------------	-------------

Bank loans are secured by means of a fixed and floating charge covering all property of the company.

Hire purchase liabilities of £154,517 (2024 - £171,658) included within other creditors are secured on the assets to which they relate.

10. Related party transactions

There are no related party transactions to be disclosed under FRS 102 Section 1A.

11. Controlling party

The parent company is Whisby Holdings Limited and is under the control of the directors.