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Registration number: 00612259

St. John's Nurseries (North Devon) Limited Annual Report and Financial Statements for the year ended 30 September 2025

St. John's Nurseries (North Devon) Limited

Contents

Company Information | 1
Strategic Report | 2
Directors' Report | 3 to 4
Independent Auditor's Report | 5 to 8
Statement of Comprehensive Income | 9
Balance Sheet | 10
Notes to the Financial Statements | 11 to 26

St. John's Nurseries (North Devon) Limited

Company Information

Directors | Mr J Mellett Mr N Oliver Mr M Toon

Registered office | St. John's Garden Centre St. John's Lane Barnstaple Devon United Kingdom EX32 9DD

Auditors | Glover Stanbury 30 Bear Street BARNSTAPLE Devon EX32 7DD

St. John's Nurseries (North Devon) Limited

Strategic Report for the Year Ended 30 September 2025

The directors present their strategic report for the year ended 30 September 2025.

Principal activity

The principal activity of the company is growing and selling plants, horticultural products and related goods.

Fair review of the business

Turnover increased by 3% in the year ended 30 September 2025 compared with 2024. This is as a result of the increased sales from both the Barnstaple and Ashford site. This has resulted in the profit before tax increasing from £634k in 2024 to £1.03m in 2025.
The company has a very strong balance sheet and at the end of the year, net assets totalled £6,944,573 (2024 - £6,826,971).

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs | Unit | 2025 | 2024
Gross profit margin | % | 56.85 | 57.23

Principal risks and uncertainties

The demand for the garden centre products is affected by several factors, including consumers' disposable income, fashion trends, seasonality and the weather. The trading results over the 2025 year are a testament to the robust nature of the business and management will continue to ensure the viability of the business by maintaining a very strict control on employee and overhead cost.

Approved by the Board on 23 January 2026 and signed on its behalf by:

Mr J Mellett
Director

St. John's Nurseries (North Devon) Limited

Directors' Report for the Year Ended 30 September 2025

The directors present their report and the financial statements for the year ended 30 September 2025.

Directors of the company

The directors who held office during the year were as follows:

Mr J Mellett

Mr N Oliver

Mr M Toon

Directors' responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report 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 apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | 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.

Financial instruments

Objectives and policies

The business' principal financial instruments comprise bank balances, trade
debtors, trade creditors, loans to related parties and finance lease agreements. The main purpose of
these instruments is to finance the business' operations.

St. John's Nurseries (North Devon) Limited

Directors' Report for the Year Ended 30 September 2025

Price risk, credit risk, liquidity risk and cash flow risk

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the
continuity of funding and flexibility.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit
offered to customers and the regular monitoring of amounts outstanding for both time and credit
limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors. Trade
creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Future developments

The company will continue to look for further opportunities to enhance the profitability of the current Garden Centres and ancillary businesses.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved by the Board on 23 January 2026 and signed on its behalf by:

Mr J Mellett
Director

St. John's Nurseries (North Devon) Limited

Independent Auditor's Report to the Members of St. John's Nurseries (North Devon) Limited

Opinion

We have audited the financial statements of St. John's Nurseries (North Devon) Limited (the 'company') for the year ended 30 September 2025, which comprise the Statement of Comprehensive Income, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 30 September 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 auditor 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 director's 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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.

St. John's Nurseries (North Devon) Limited

Independent Auditor's Report to the Members of St. John's Nurseries (North Devon) Limited

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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and the Directors' Report.

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 3], 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 is 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.

St. John's Nurseries (North Devon) Limited

Independent Auditor's Report to the Members of St. John's Nurseries (North Devon) Limited

Auditor 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 an auditor’s report 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:

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:
1. The nature of the industry and sector, control environment and business performance;
2. results of our enquiries of management about their own identification and assessment of the risks of irregularities;
3. any matters we identified having obtained and reviewed the company’s documentation of their 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 of fraud or non-compliance with laws and regulations;
4. 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.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in income. 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 frameworks 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. The key laws and regulations we considered in this context included the UK Companies Act and UK tax legislation.
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 or to avoid a material penalty.
Audit response to risks identified
As a result of performing the above, we have not identified any contradictory evidence during our enquiries.

St. John's Nurseries (North Devon) Limited

Independent Auditor's Report to the Members of St. John's Nurseries (North Devon) Limited

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 auditor's report.

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 an auditor’s report 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.

Nigel Bennett FCA (Senior Statutory Auditor)
For and on behalf of Glover Stanbury, Statutory Auditor
30 Bear Street
BARNSTAPLE
Devon
EX32 7DD

23 January 2026

St. John's Nurseries (North Devon) Limited

Statement of Comprehensive Income for the Year Ended 30 September 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 7,381,029 | 7,310,273
Cost of sales |  | (3,185,209) | (3,126,463)
Gross profit |  | 4,195,820 | 4,183,810
Distribution costs |  | (202,812) | (201,117)
Administrative expenses |  | (2,980,599) | (3,392,300)
Operating profit | 5 | 1,012,409 | 590,393
Other interest receivable and similar income | 6 | 17,435 | 43,684
|  | 17,435 | 43,684
Profit before tax |  | 1,029,844 | 634,077
Taxation | 10 | (282,358) | (115,360)
Profit for the financial year |  | 747,486 | 518,717
Retained earnings brought forward |  | 6,822,670 | 6,628,873
Dividends paid |  | (629,884) | (324,920)
Retained earnings carried forward |  | 6,940,272 | 6,822,670

The above results were derived from continuing operations.

St. John's Nurseries (North Devon) Limited

(Registration number: 00612259)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed Assets |  |  |
Tangible Assets | 11 | 2,879,240 | 2,823,644
Current assets |  |  |
Stocks | 12 | 1,165,760 | 1,221,079
Debtors | 13 | 2,659,342 | 2,310,340
Cash at bank and in hand | 14 | 1,227,461 | 1,413,239
|  | 5,052,563 | 4,944,658
Creditors: Amounts falling due within one year | 15 | (847,836) | (829,059)
Net current assets |  | 4,204,727 | 4,115,599
Total assets less current liabilities |  | 7,083,967 | 6,939,243
Creditors: Amounts falling due after more than one year | 15 | (9,933) | (13,902)
Provisions for liabilities | 16 | (129,461) | (98,370)
Net assets |  | 6,944,573 | 6,826,971
Capital and Reserves |  |  |
Called up share capital |  | 4,301 | 4,301
Retained Earnings | 19 | 6,940,272 | 6,822,670
Shareholders' funds |  | 6,944,573 | 6,826,971

Approved and authorised for issue by the Board on 23 January 2026 and signed on its behalf by:

Mr J Mellett

Director

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
St. John's Garden Centre
St. John's Lane
Barnstaple
Devon
EX32 9DD
United Kingdom

These financial statements were authorised for issue by the Board on 23 January 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

All amounts are in £'s

Summary of disclosure exemptions

The individual accounts of St. John's Nurseries (North Devon) Limited have also adopted the following disclosure exemptions:
The company has taken advantage of the exemption, under FRS 102 paragraph 1.12(b), from preparing a statement of cash flows on the basis that it is a qualifying entity and its ultimate parent company, St Johns Country Stores Limited, includes the company’s cash flows in its own consolidated financial statements. Being a qualifying entity, it has also taken advantage of the exemption from disclosing key management compensation seperately as this is disclosed in Directors remuneration.

Going concern

The financial statements have been prepared on a going concern basis.

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Judgements

There are no judgements which management have made in the process of applying the accounting policies.

Key sources of estimation uncertainty

Depreciation is a key source of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible Assets

Tangible Assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings freehold | 2% per annum on cost of buildings (no depreciation on land)

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Tenant's improvements | 4.55% per annum (22 years) on cost
Plant and machinery | 15% & 25% per annum on written down value
Fixtures, fittings and equipment | 15% per annum on written down value
Motor vehicles | 25% per annum on cost
Office equipment | 25% per annum on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Financial instruments

Classification
Basic ﬁnancial assets include trade and other debtors, cash and bank balances. Basic ﬁnancial liabilities include trade and other payables, bank loans and preference shares that are classiﬁed as debt.
Recognition and measurement
Basic financial assets are initially recognised at transaction price, unless the arrangement constitutes a ﬁnancing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Other debtors are classified as current assets if payment is due within one year or less and are initially recorded at transaction price and subsequently measured at the undiscounted amount of the cash expected to be received. Trade debtors are referred to above.
Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are classiﬁed as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.
Impairment
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 proﬁt or loss.
If there is 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.

3 | Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Sale of goods | 7,265,807 | 7,189,964
Rendering of services | 6,741 | 5,995
Franchise | 108,481 | 114,314
| 7,381,029 | 7,310,273

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

4 | Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Gain on disposal of Tangible Assets | 6,950 | 3,452

5 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 147,064 | 140,932
Operating lease expense - plant and machinery | 37,073 | 36,741
Profit on disposal of property, plant and equipment | (6,950) | (3,452)

6 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | 17,417 | 43,569
Other interest received | 18 | 115
| 17,435 | 43,684

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

7 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 2,048,296 | 2,409,339
Social security costs | 180,524 | 186,998
Pension costs, defined contribution scheme | 43,143 | 48,358
Other employee expense | 22,605 | 19,087
| 2,294,568 | 2,663,782

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Landscape, maintenance & horticulture | 13 | 9
Office and management | 17 | 18
Selling (including part-time employees) | 36 | 43
Cafe (including part-time employees) | 44 | 49
| 110 | 119

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

8 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 17,955 | 196,782
Contributions paid to money purchase schemes | 6,151 | 1,673
| 24,106 | 198,455

During the year the number of directors who were receiving benefits and share incentives was as follows:

| 2025 No. | 2024 No.
Accruing benefits under money purchase pension scheme | 2 | 5

9 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 19,800 | 15,000

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

10 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 251,267 | 188,564
Deferred taxation |  |
Arising from origination and reversal of timing differences | 31,091 | (73,204)
Tax expense in the income statement | 282,358 | 115,360

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 1,029,844 | 634,077
Corporation tax at standard rate | 257,461 | 158,519
Tax increase/(decrease) from effect of capital allowances and depreciation | 20,394 | (66,292)
Effect of expense not deductible in determining taxable profit (tax loss) | 4,503 | 23,133
Total tax charge | 282,358 | 115,360

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

11 | Tangible Assets

| Freehold land and buildings £ | Tenant's improvements £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 October 2024 | 3,444,456 | 314,106 | 294,713 | 1,179,962 | 241,486 | 312,540 | 5,787,263
Additions | - | - | 133,005 | 52,333 | 17,322 | - | 202,660
Disposals | - | - | - | - | - | (28,831) | (28,831)
At 30 September 2025 | 3,444,456 | 314,106 | 427,718 | 1,232,295 | 258,808 | 283,709 | 5,961,092
Depreciation
At 1 October 2024 | 995,916 | 266,255 | 239,907 | 991,237 | 214,349 | 255,955 | 2,963,619
Charge for the year | 52,700 | 14,292 | 19,185 | 33,203 | 8,128 | 19,556 | 147,064
Eliminated on disposal | - | - | - | - | - | (28,831) | (28,831)
At 30 September 2025 | 1,048,616 | 280,547 | 259,092 | 1,024,440 | 222,477 | 246,680 | 3,081,852
Carrying amount
At 30 September 2025 | 2,395,840 | 33,559 | 168,626 | 207,855 | 36,331 | 37,029 | 2,879,240
At 30 September 2024 | 2,448,539 | 47,851 | 54,806 | 188,725 | 27,137 | 56,586 | 2,823,644

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

| 2025 £ | 2024 £
Motor Vehicles | 11,969 | 16,756

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

12 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 1,165,760 | 1,221,079

13 | Debtors

Current | Note | 2025 £ | 2024 £
Trade Debtors |  | 198,813 | 175,065
Amounts owed by related parties | 23 | 2,395,681 | 2,074,025
Other debtors |  | 979 | 7,486
Prepayments |  | 50,875 | 53,764
Gross amount due from customers for contract work |  | 12,994 | -
|  | 2,659,342 | 2,310,340

14 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash on hand | 12,396 | 12,396
Cash at bank | 1,215,065 | 1,400,843
| 1,227,461 | 1,413,239

15 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 20 | 3,969 | 9,969
Trade Creditors |  | 390,986 | 349,810
Social security and VAT |  | 206,402 | 244,096
Outstanding defined contribution pension costs |  | - | 258
Other payables |  | 59,750 | 67,766
Accruals |  | 34,756 | 26,208
Corporation tax liability | 10 | 151,973 | 130,952
|  | 847,836 | 829,059
Due after one year |  |  |
Loans and borrowings | 20 | 9,933 | 13,902

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

16 | Provisions for liabilities

| Deferred tax £ | Total £
At 1 October 2024 | 98,370 | 98,370
Increase (decrease) in existing provisions | 31,091 | 31,091
At 30 September 2025 | 129,461 | 129,461

17 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £43,143 (2024 - £48,358).
Contributions totalling £- (2024 - £258) were payable to the scheme at the end of the year and are included in creditors.

18 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 4,301 | 4,301 | 4,301 | 4,301

19 | Reserves

Distributable Reserves

The company retained earnings contain amounts totalling £435,531 (2024: £500,139) which are considered to be non-distributable, relating to the revaluation of land and buildings.

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

20 | Loans and borrowings

| 2025 £ | 2024 £
Non-current loans and borrowings
HP and finance lease liabilities | 9,933 | 13,902

| 2025 £ | 2024 £
Current loans and borrowings
Loans from related parties | - | 6,000
HP and finance lease liabilities | 3,969 | 3,969
| 3,969 | 9,969

21 | Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 3,969 | 3,969
Later than one year and not later than five years | 9,933 | 13,902
| 13,902 | 17,871

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 14,269 | 23,259
Later than one year and not later than five years | 6,154 | 29,271
| 20,423 | 52,530

The amount of non-cancellable operating lease payments recognised as an expense during the year was £20,156 (2024 - £27,338).

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Operating leases - lessor

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 121,483 | 70,816
Later than one year and not later than five years | 310,718 | 96,043
| 432,201 | 166,859

Total contingent rents recognised as income in the period are £37,811 (2024 - £12,547).

22 | Dividends

|  | 2025 |  | 2024
|  | £ |  | £
Interim dividend of £146.4504 (2024 - £75.5452) per ordinary share |  | 629,883 |  | 324,920

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

23 | Related party transactions

Transactions with directors

2025 | At 1 October 2024 £ | Repayments by director £ | At 30 September 2025 £
Mr J Mellett
Directors loan account - no interest charged & repayable on demand | 6,000 | (6,000) | -

2024 | At 1 October 2023 £ | Advances to director £ | At 30 September 2024 £
Mr J Mellett
Directors loan account - no interest charged & repayable on demand | - | 6,000 | 6,000

Summary of transactions with other related parties

St. John's Pension Scheme
St. John's Nurseries (North Devon) Limited rented the Bay View site owned by St John's Pension Scheme, which is a small self administered pension scheme of which Thomas, Simon and Nicholas Oliver are trustees and members.
During the year £18,738 was charged for rent. (2024 - £15,984)
At the balance sheet date the amounts due to St John's Pension Scheme was £Nil (2024 - £Nil).
Sale of Transit Vans
During the year, 2 Transit Vans owned by St. John's Nurseries (North Devon) Limited were sold to Thomas and Simon Oliver at their market value of £3,975 and £2,975 on 31/01/2025.
Purchase of Heaters
During the year, on 31/12/2024, St. John's Nurseries (North Devon) Limited purchased second hand heaters from the Oliver's @ Bayview Limited at the second hand value of £7,328.

St. John's Nurseries (North Devon) Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Loans to related parties

2025 | Parent £ | Total £
At start of period | 2,074,025 | 2,074,025
Advanced | 321,656 | 321,656
At end of period | 2,395,681 | 2,395,681

2024 | Parent £ | Total £
Advanced | 2,074,025 | 2,074,025
At end of period | 2,074,025 | 2,074,025

Terms of loans to related parties

This loan is not secured and is repayable on demand.

24 | Parent and ultimate parent undertaking

The company's immediate parent is St. John's Country Stores Limited, incorporated in United Kingdom.
These financial statements are available upon request from the parent company's registered office which is located at St. John's Garden Centre, St. John's Lane, Barnstaple, Devon, EX32 9DD