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REGISTERED NUMBER: 01417996 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

Tamar Nurseries Limited

Tamar Nurseries Limited (Registered number: 01417996)

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

Tamar Nurseries Limited (Registered number: 01417996)

Balance Sheet

30 June 2025

30.6.25 | 30.6.24 |

| Notes | £ | £

Fixed assets

Tangible assets | 4 | 1,271,378 |  | 1,306,400 |  |

Investments | 5 | - |  | 3,001 |  |

Investment property | 6 | 300,000 |  | 300,000 |  |

1,571,378 |  | 1,609,401 |  |

Current assets

Stocks | 866,480 |  | 742,625 |  |

Debtors | 7 | 380,842 |  | 771,599 |  |

Cash at bank and in hand | 4,716 |  | 1,895 |  |

1,252,038 |  | 1,516,119 |  |

Creditors

Amounts falling due within one year | 8 | (847,601 | ) | (845,386 | ) |

Net current assets | 404,437 |  | 670,733 |  |

Total assets less current liabilities | 1,975,815 |  | 2,280,134 |  |

Creditors

Amounts falling due after more than one year | 9 | (380,273 | ) | (499,661 | ) |

Provisions for liabilities | (24,551 | ) | (25,369 | ) |

Net assets | 1,570,991 |  | 1,755,104 |  |

Tamar Nurseries Limited (Registered number: 01417996)

Balance Sheet - continued

30 June 2025

30.6.25 | 30.6.24 |

| Notes | £ | £

Capital and reserves

Called up share capital | 15,000 |  | 15,000 |  |

Capital redemption reserve | 90,000 |  | 90,000 |  |

Retained earnings | 1,465,991 |  | 1,650,104 |  |

1,570,991 |  | 1,755,104 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2026 and were signed on its behalf by:

Mr J Lawrence - Director

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | Statement of compliance

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

2. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Freehold property | - | 2% straight line

| Plant and machinery | - | 25% p.a. reducing balance

| Fixtures and fittings | - | 25% p.a. reducing balance

| Motor vehicles | - | 25% p.a. reducing balance

| Computer equipment | - | 25% p.a. reducing balance

| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

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

| slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

2. | Accounting policies - continued

| Financial instruments

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Debt instruments are subsequently measured at amortised cost.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

2. | Accounting policies - continued

| 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.

| 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.

| Investments

| Fixed asset investments are initially recorded at cost,and subsequently stated at cost less any accumulated impairment losses.

| Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

| 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. the cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

| 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 balance sheet 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.

3. | Employees and directors

| The average number of employees during the year was 28 (2024 - 27 ) .

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

4. | Tangible fixed assets

Fixtures |

Freehold | Plant and | and |

property | machinery | fittings |

| £ | £ | £

| Cost or valuation

| At 1 July 2024 | 1,030,000 |  | 351,076 |  | 51,208 |  |

| Additions | - |  | 22,000 |  | - |  |

| Disposals | - |  | - |  | (51,208 | ) |

| At 30 June 2025 | 1,030,000 |  | 373,076 |  | - |  |

| Depreciation

| At 1 July 2024 | - |  | 152,875 |  | 51,201 |  |

| Charge for year | - |  | 50,009 |  | - |  |

| Eliminated on disposal | - |  | - |  | (51,201 | ) |

| At 30 June 2025 | - |  | 202,884 |  | - |  |

| Net book value

| At 30 June 2025 | 1,030,000 |  | 170,192 |  | - |  |

| At 30 June 2024 | 1,030,000 |  | 198,201 |  | 7 |  |

Motor | Computer |

vehicles | equipment | Totals |

| £ | £ | £

| Cost or valuation

| At 1 July 2024 | 176,160 |  | 49,326 |  | 1,657,770 |  |

| Additions | 20,705 |  | - |  | 42,705 |  |

| Disposals | (45,978 | ) | (49,326 | ) | (146,512 | ) |

| At 30 June 2025 | 150,887 |  | - |  | 1,553,963 |  |

| Depreciation

| At 1 July 2024 | 97,985 |  | 49,309 |  | 351,370 |  |

| Charge for year | 17,008 |  | - |  | 67,017 |  |

| Eliminated on disposal | (35,112 | ) | (49,489 | ) | (135,802 | ) |

| At 30 June 2025 | 79,881 |  | (180 | ) | 282,585 |  |

| Net book value

| At 30 June 2025 | 71,006 |  | 180 |  | 1,271,378 |  |

| At 30 June 2024 | 78,175 |  | 17 |  | 1,306,400 |  |

| Freehold property was valued on an open market basis by Maxey Grounds on 26 November 2024. The valuation was prepared in accordance with the requirements of RICS Valuations - Global Standards 2022.

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

4. | Tangible fixed assets - continued

| Cost or valuation at 30 June 2025 is represented by:

Freehold | Plant and | Motor |

property | machinery | vehicles | Totals |

| £ | £ | £ | £

| Valuation in 2024 | (1,201,120 | ) | - |  | - |  | (1,201,120 | ) |

| Cost | 2,231,120 |  | 373,076 |  | 150,887 |  | 2,755,083 |  |

1,030,000 |  | 373,076 |  | 150,887 |  | 1,553,963 |  |

5. | Fixed asset investments

Other |

investments |

| £

| Cost

| At 1 July 2024 | 3,001 |  |

| Disposals | (3,001 | ) |

| At 30 June 2025 | - |  |

| Net book value

| At 30 June 2025 | - |  |

| At 30 June 2024 | 3,001 |  |

| The investment relates to shares held in an unquoted company.

6. | Investment property

Total |

| £

| Fair value

| At 1 July 2024

| and 30 June 2025 | 300,000 |  |

| Net book value

| At 30 June 2025 | 300,000 |  |

| At 30 June 2024 | 300,000 |  |

| Fair value at 30 June 2025 is represented by:

| £

| Valuation in 2024 | 73,039 |  |

| Cost | 226,961 |  |

300,000 |  |

Tamar Nurseries Limited (Registered number: 01417996)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

6. | Investment property - continued

| Investment property is held at market value as determined by the directors at the balance sheet date.

7. | Debtors: amounts falling due within one year |

30.6.25 | 30.6.24 |

| £ | £

| Trade debtors | 369,017 |  | 771,599 |  |

| Other debtors | 11,825 |  | - |  |

380,842 |  | 771,599 |  |

8. | Creditors: amounts falling due within one year |

30.6.25 | 30.6.24 |

| £ | £

| Bank loans and overdrafts | 78,993 |  | 117,834 |  |

| Hire purchase contracts | 40,137 |  | 39,137 |  |

| Trade creditors | 589,651 |  | 540,269 |  |

| Taxation and social security | 100,715 |  | 144,329 |  |

| Other creditors | 38,105 |  | 3,817 |  |

847,601 |  | 845,386 |  |

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

30.6.25 | 30.6.24 |

| £ | £

| Bank loans | 324,331 |  | 404,582 |  |

| Hire purchase contracts | 55,942 |  | 95,079 |  |

380,273 |  | 499,661 |  |

10. | Secured debts

| The following secured debts are included within creditors:

30.6.25 | 30.6.24 |

| £ | £

| Bank overdraft | - |  | 39,784 |  |

| Bank loans | 403,324 |  | 482,632 |  |

403,324 |  | 522,416 |  |