Caseware UK (AP4) 2024.0.164 2024.0.164 2025-07-31 2025-07-31 2025-07-31 266 2024-08-01 false Garden and nursery specialists 250 false false false 00820387 2024-08-01 2025-07-31 00820387 2023-08-01 2024-07-31 00820387 2025-07-31 00820387 2024-07-31 00820387 2023-08-01 00820387 c:Director1 2024-08-01 2025-07-31 00820387 c:Director2 2024-08-01 2025-07-31 00820387 c:RegisteredOffice 2024-08-01 2025-07-31 00820387 c:Agent1 2024-08-01 2025-07-31 00820387 d:Buildings 2024-08-01 2025-07-31 00820387 d:Buildings 2025-07-31 00820387 d:Buildings 2024-07-31 00820387 d:Buildings d:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 00820387 d:PlantMachinery 2024-08-01 2025-07-31 00820387 d:PlantMachinery 2025-07-31 00820387 d:PlantMachinery 2024-07-31 00820387 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 00820387 d:MotorVehicles 2024-08-01 2025-07-31 00820387 d:MotorVehicles 2025-07-31 00820387 d:MotorVehicles 2024-07-31 00820387 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 00820387 d:FurnitureFittings 2024-08-01 2025-07-31 00820387 d:FurnitureFittings 2025-07-31 00820387 d:FurnitureFittings 2024-07-31 00820387 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 00820387 d:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 00820387 d:CurrentFinancialInstruments 2025-07-31 00820387 d:CurrentFinancialInstruments 2024-07-31 00820387 d:CurrentFinancialInstruments d:WithinOneYear 2025-07-31 00820387 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 00820387 d:ShareCapital 2025-07-31 00820387 d:ShareCapital 2023-08-01 2024-07-31 00820387 d:ShareCapital 2024-07-31 00820387 d:ShareCapital 2023-08-01 00820387 d:RetainedEarningsAccumulatedLosses 2024-08-01 2025-07-31 00820387 d:RetainedEarningsAccumulatedLosses 2025-07-31 00820387 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 00820387 d:RetainedEarningsAccumulatedLosses 2024-07-31 00820387 d:RetainedEarningsAccumulatedLosses 2023-08-01 00820387 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2025-07-31 00820387 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 00820387 d:FinancialAssetsAmortisedCost 2025-07-31 00820387 d:FinancialAssetsAmortisedCost 2024-07-31 00820387 d:FinancialLiabilitiesAmortisedCost 2025-07-31 00820387 d:FinancialLiabilitiesAmortisedCost 2024-07-31 00820387 c:OrdinaryShareClass1 2024-08-01 2025-07-31 00820387 c:OrdinaryShareClass1 2025-07-31 00820387 c:OrdinaryShareClass1 2024-07-31 00820387 c:FRS102 2024-08-01 2025-07-31 00820387 c:Audited 2024-08-01 2025-07-31 00820387 c:FullAccounts 2024-08-01 2025-07-31 00820387 c:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 00820387 d:Subsidiary1 2024-08-01 2025-07-31 00820387 d:Subsidiary1 1 2024-08-01 2025-07-31 00820387 d:WithinOneYear 2025-07-31 00820387 d:WithinOneYear 2024-07-31 00820387 d:BetweenOneFiveYears 2025-07-31 00820387 d:BetweenOneFiveYears 2024-07-31 00820387 c:Consolidated 2025-07-31 00820387 c:ConsolidatedGroupCompanyAccounts 2024-08-01 2025-07-31 00820387 d:AcceleratedTaxDepreciationDeferredTax 2025-07-31 00820387 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 00820387 d:OtherDeferredTax 2025-07-31 00820387 d:OtherDeferredTax 2024-07-31 00820387 2 2024-08-01 2025-07-31 00820387 6 2024-08-01 2025-07-31 00820387 e:PoundSterling 2024-08-01 2025-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00820387 SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED CONSOLIDATED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED COMPANY INFORMATION
DIRECTORS | C A E Owen
| B T W Rayner
REGISTERED NUMBER | 00820387
REGISTERED OFFICE | 120 Cambridge Road
| Great Shelford
| Cambridge
| CB22 5JT
INDEPENDENT AUDITORS | Lakin Rose Limited
| Chartered Accountants & Statutory Auditors
| Cambridge House
| Camboro Business Park
| Girton
| Cambridge
| CB3 0QH
BANKERS | Lloyds TSB Bank Plc
| Sidney Street
| Cambridge
| CB2 3HG
SOLICITORS | Mills and Reeve LLP
| Botanic House
| 100 Hills Road
| Cambridge
| CB2 1PH
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED CONTENTS
| Page
Group Strategic Report | 1 - 6
Directors' Report | 7 - 8
Independent Auditors' Report | 9 - 12
Consolidated Statement of Comprehensive Income | 13
Consolidated Balance Sheet | 14
Company Balance Sheet | 15
Consolidated Statement of Changes in Equity | 16
Company Statement of Changes in Equity | 16
Consolidated Statement of Cash Flows | 17
Notes to the Financial Statements | 18 - 36
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 JULY 2025
INTRODUCTION
We aim to present a balanced and comprehensive report on the development and performance of our business during the year and its position at the year end. Our report is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties we face.
BUSINESS REVIEW
The principal activity of the Company continued to be that of being a garden centre retailer. The environment in which we operate continues to be challenging. The garden centre retailing market is highly competitive and margins are constantly being pressured. The Directors and senior management are constantly looking at options to enhance customer retention and customer experience. The loyalty scheme relaunched in April 2022 is going from strength to strength. We face increasing competition from all retailers. The general economic uncertainty for all, is highly challenging. The Company reviews prices on a quarterly basis to remain competitive with a sufficient margin whilst remaining competitively priced. With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen events outside of our control. Staff costs being the largest overhead to the business are under constant review, especially in the light of the budget together with the continuing pressure of the National Minimum Wage combined with the 'Cambridge' effect on wages and salaries.
PRINCIPAL RISKS AND UNCERTAINTIES
There are a number of potential risks and uncertainties which could have a material impact on Company performance and could cause actual results to differ materially from expected and historic results. Weather One of the main risks to the Company is unpredictable weather conditions due to the nature of the principal activity which is highly seasonal. The Directors seek to mitigate this risk by increasing investment in areas less weather dependent highlighted with the financial commitment to the current development of the plant and cafe areas at the Shelford site. Liquidity The business relies on adequate access to funding and maintaining liquidity together with enabling future business investment and growth. Liquidity risk is managed by maintaining adeqaute reserves and banking facilities together with continuous monitoring of cash flows. Price Due to the nature of the business being retail it is heavily reliant on suppliers and their associated cost prices. If suppliers were to increase their prices the business would have to decide whether to pass these prices on to customers. The business has developed relationships with suppliers over many years and is well placed in negotiating prices. The Directors are aware of potential issues with freight costs for shipping and are liaising with suppliers to ensure they can reflect this in prices as necessary whilst remaining competitive. A constant review of margins, cost prices and supply costs is undertaken to ensure the Company remains competitive. As with all industries prices on all costs are constantly changing. Page 1
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
FINANCIAL KEY PERFORMANCE INDICATORS
We consider that our key performance indicators are those that communicate the financial performance and strength of the Company as a whole, being turnover, gross profit and net assets. There has been an increase in turnover from 2023/24 of 10.78%. Gross margin has increased from 45.85% in 2023/24 to 47.15% in 2024/25. Net assets have increased from £21.09m in 2023/24 to £22.88m in 2024/25. Overall the results for the year and the financial position of the Company at the year-end were considered by the Directors to be reasonable considering Shelford lost retail space whilst undergoing the continuing redevelopment. DIRECTORS' STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE GROUP Our Directors use Section 172 of the Companies Act 2006 to act in a manner that promotes the success of the business. Section 172 requires the Directors to have regard to the following matters: (a) The likely consequences of any decision in the long-term; (b) The interests of the Group’s employees’; (c) The need to foster the Group’s business relationships with suppliers, customers and others; (d) The impact of the Group’s operations on the community and the environment; (e) The desirability of the Group maintaining a reputation for high standards of business conduct; and (f) The need to act fairly between members of the Group. The Directors believe that Scotsdales is well positioned to seize the opportunity to adapt its brand and marketing to ensure the brand is relevant and inspiring to new consumer bases and their shopping trends without alienating current customers. In order to do this, we must consider what is important to our stakeholders, including our employees’, customers and suppliers. (a) The likely consequences of any decision in the long-term The Directors and the Senior Leadership Team at Scotsdales recognise that the long-term success of the company is dependent on the sustainability of its business model and management of risk. The Directors accept that decisions made by the board will have a direct impact on the company over differing time periods. Accordingly all strategic decisions are made in close association with the shareholders and with regular and controlled reporting procedures in place. The Directors consider ‘success’ to be a long-term increase in value for the benefit of its stakeholders as a whole. (b) The interests of the Group’s employees’ Our team of employees’ is the backbone of our business and our biggest asset. We invest in the development of our teams and encourage each other to excel through actionable feedback. Our Senior Leadership Team engage with employees’ in many different ways. There are also multiple channels in which our Senior Leadership Team can take account of the views of employees. Page 2
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
(b) The interests of the Group’s employees’ (continued) (c) The need to foster the Group’s business relationship with suppliers, customers and others Our customers are the lifeblood of our business. Our key task is to ensure their experience is unforgettable. We focus on meeting the needs and building long-term relationships with our customers. Our relationships with our suppliers are also integral to our success and growth as a business. Our suppliers assist with supplying our business with high quality products for our customers. Page 3
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 (c) The need to foster the Group’s business relationship with suppliers, customers and others (continued) Page 4
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 (d) The impact of the Group’s operations on the community and the environment COMMUNITY Our impact as a business on our wider community is extremely important to us. We provide a quality and personalised retail experience and aim to share our success for the good of the community. Gardening enhances people’s lives and provides a sense of community and we encourage this as a business. Our communities seek guidance and support from us and we are more than happy to provide this in various forms. The Scotsdales Charitable Foundation was set up in 2007 and assisted in building the David Rayner Centre which is the home of the Cambridge Cancer Centre as well as being used by other charities. The Foundation has brought the community together in raising funds and hosting events for the good of the community. The Scotsdales Charitable Foundation continues to gift to various schools, community groups and charities. We believe it is extremely important to provide support for those who need it most in our local community and the Scotsdales Charitable Foundation provides us with a platform to do so. Scotsdales supports the Foundation by raising funds through Staff initiatives, plus selling goods on behalf of the Foundation. Scotsdales also supports the community through multiple sponsorships and donations. We sponsor many local sports clubs and teams including Cambridge United Women's Football Teams and Shelford Rugby Club. We sponsor local Gardening Clubs with the aim to enhance the lives of our customers and community. Scotsdales also sponsors school events through the donations of goods/services. ENVIRONMENT The Company is working to de-carbonate our operations as quickly as possible. We are also working across our own operations and supply chains to find innovative solutions to divert as much waste from landfill as possible. Phase 1 of our Shelford Development has included Solar Power as will Phase 2 and we are exploring Solar Options at our Hourningsea Site We have made progress in peat reduction within our growing media products sold and will promote peat free alternative produce where possible. The use of peat as a mulch or soil conditioner will not be recommended. (e) The desirability of the Group maintaining a reputation for high standards of business conduct As a business, we have a strong reputation for high standards of business conduct. This was firmly established in our Company’s 'CART'’: Customer, Accountability, Respect, Teamwork. These principles are reiterated to all levels of our staff on a regular basis. As a business we inspire those who are in need of ideas, we give warmth and familiarity to those who seek it and we serve all our customers with expertise and 100% commitment. Our high standards of business conduct contribute positively to achieving our business strategy. Our Senior Leadership Team constantly review the business strategy ensuring it is the best it can be. (f) The need to act fairly between members of the Group Our Shareholders meet regularly with the Finance Director. We hold regular meetings with Shareholders and Accountants. These regular meetings give the opportunity to review and discuss providing a clear line of communication. Page 5
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 This report was approved by the board on 27 March 2026 and signed on its behalf.
C A E Owen Director
Page 6
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 JULY 2025 The Directors present their report and the financial statements for the year ended 31 July 2025.
DIRECTORS' RESPONSIBILITIES STATEMENT
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the Directors are required to: ∙select suitable accounting policies for the Group's financial statements and then apply them consistently; ∙make judgments 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
RESULTS AND DIVIDENDS
The profit for the year, after taxation, amounted to £1,794,031 (2024 - £1,459,642). Ordinary dividends of £NIL (2024: £NIL) have been paid during the year.
DIRECTORS
The Directors who served during the year were:
C A E Owen
B T W Rayner
ENGAGEMENT WITH EMPLOYEES
The Group keeps employees informed of matters affecting them as employees and the financial and economic factors affecting the performance of the Group.
DISABLED EMPLOYEES
The Group employs disabled persons when the requirements of the position and the individual's disability make this possible. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Group continues and appropriate training is arranged. It is the policy of the Group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. Page 7
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENCY ACTION
For the year ended 31 July 2025 the Group had energy consumption and related emissions of carbon dioxide equivalent as follows: Scope 1: - Mobile fuels - 20.5 tCO2e (2024 - 21.7 tCO2e) - Stationary fuels - 82.4 tCO2e (2024 - 145.9 tCO2e) Scope 2: - Electricity (location based) - 165.7 tCO2e (2024 - 157.8 tCO2e) Scope 3: - Fuel and energy related activities - 82.3 tCO2e (2024 - 82.9 tCO2e) - Waste - 2.0 tCO2e (2024 - 2.5 tCO2e) - Business travel - 1.9 tCO2e (2024 - 1.7 tCO2e) - Downstream leased assets - 37.1 tCO2e (2024 - 41.7 tCO2e) Average per employees: - Market based - 1.1 tCO2e (2024 - 1.5 tCO2e) - Location based - 2.0 tCO2e (2024 - 2.3 tCO2e) The measurement methodology is fully aligned to Greenhouse Gas (GHG) Protocol.
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the Director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and ∙the Director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.
AUDITORS
The auditors, Lakin Rose Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the Board on 27 March 2026 and signed on its behalf.
C A E Owen Director
Page 8
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED
OPINION
We have audited the financial statements of Scotsdale Nursery and Garden Centre Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 July 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 Group's and of the Parent Company's affairs as at 31 July 2025 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the Parent 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. Page 9
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED (CONTINUED)
OTHER INFORMATION
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
OPINION 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 Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group Strategic Report and the 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 the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the Parent Company 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 Directors' Responsibilities Statement set out on page 7, 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 Group's and the Parent 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 Group or the Parent Company or to cease operations, or have no realistic alternative but to do so. Page 10
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED (CONTINUED)
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 an Auditors' 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 Group financial statements. 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 of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Extent to which the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: - the nature of the industry and sector, control environment and business performance including the design of the Group's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets; - results of our enquiries of management about their own identification and assessment of the risks of irregularities; - any matters we identified having obtained and reviewed the Group'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. - the matters discussed among the audit engagement team and involving relevant internal specialists 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 relation to revenue recognition. 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 Group 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 Group's ability to operate or to avoid a material penalty. We identified no such laws and regulations applicable to the Group. Page 11
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED (CONTINUED) Audit response to risks identified As a result of performing the above, we identified revenue recognition as a key audit risk related to the potential risk of fraud. Our procedures to respond to risks identified included the following: - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiring of management concerning actual and potential litigation and claims; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of provisions; and - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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. Natalie Peacock FCA (Senior Statutory Auditor) for and on behalf of Lakin Rose Limited Chartered Accountants Statutory Auditors Cambridge House Camboro Business Park Girton Cambridge CB3 0QH Date: 14 April 2026 Page 12
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JULY 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 23,783,525 | 21,468,992
Cost of sales |  | (12,569,316) | (11,625,679)
GROSS PROFIT |  | 11,214,209 | 9,843,313
Distribution costs |  | (127,494) | (118,090)
Administrative expenses |  | (9,398,079) | (9,199,936)
OPERATING PROFIT | 5 | 1,688,636 | 525,287
Income from participating interests |  | (168,362) | 797,662
Interest receivable and similar income | 10 | 367,240 | 369,725
Interest payable and similar expenses | 11 | (64,469) | (64,540)
Other finance income |  | 174,768 | 367,663
PROFIT BEFORE TAX |  | 1,997,813 | 1,995,797
Tax on profit | 12 | (203,782) | (536,155)
PROFIT FOR THE FINANCIAL YEAR |  | 1,794,031 | 1,459,642
PROFIT FOR THE YEAR ATTRIBUTABLE TO: |  |  |
Owners of the Parent Company |  | (1,794,031) | (1,459,642)
|  | (1,794,031) | (1,459,642)
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 18 to 36 form part of these financial statements.
Page 13
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED REGISTERED NUMBER: 00820387 CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
FIXED ASSETS |  |  |  |  |
Tangible assets | 14 |  | 13,811,846 |  | 9,613,358
Investments | 15 |  | 3,128 |  | 671,490
|  |  | 13,814,974 |  | 10,284,848
CURRENT ASSETS |  |  |  |  |
Stocks | 16 | 2,591,390 |  | 2,309,665 |
Debtors: amounts falling due within one year | 17 | 2,740,021 |  | 1,619,819 |
Current asset investments | 18 | 1,963,880 |  | 2,701,655 |
Cash at bank and in hand | 19 | 7,562,582 |  | 9,590,914 |
|  | 14,857,873 |  | 16,222,053 |
Creditors: amounts falling due within one year | 20 | (5,515,925) |  | (5,214,910) |
NET CURRENT ASSETS |  |  | 9,341,948 |  | 11,007,143
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 23,156,922 |  | 21,291,991
PROVISIONS FOR LIABILITIES |  |  |  |  |
Deferred taxation | 22 |  | (273,861) |  | (202,961)
NET ASSETS |  |  | 22,883,061 |  | 21,089,030
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital | 23 |  | 100,000 |  | 100,000
Profit and loss account | 28 |  | 22,783,061 |  | 20,989,030
|  |  | 22,883,061 |  | 21,089,030
The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 27 March 2026.
C A E Owen
Director
The notes on pages 18 to 36 form part of these financial statements. Page 14
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED REGISTERED NUMBER: 00820387 COMPANY BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
FIXED ASSETS |  |  |  |  |
Tangible assets | 14 |  | 13,717,463 |  | 9,518,975
Investments | 15 |  | 500,001 |  | 500,001
|  |  | 14,217,464 |  | 10,018,976
CURRENT ASSETS |  |  |  |  |
Stocks | 16 | 2,591,390 |  | 2,309,664 |
Debtors: amounts falling due within one year | 17 | 2,322,372 |  | 1,258,425 |
Current asset investments | 18 | 1,963,880 |  | 2,701,655 |
Cash at bank and in hand | 19 | 7,548,929 |  | 9,557,088 |
|  | 14,426,571 |  | 15,826,832 |
Creditors: amounts falling due within one year | 20 | (6,530,919) |  | (5,724,910) |
NET CURRENT ASSETS |  |  | 7,895,652 |  | 10,101,922
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 22,113,116 |  | 20,120,898
PROVISIONS FOR LIABILITIES |  |  |  |  |
Deferred taxation | 22 |  | (273,861) |  | (202,961)
NET ASSETS |  |  | 21,839,255 |  | 19,917,937
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital | 23 |  | 100,000 |  | 100,000
Profit and loss account carried forward |  |  | 21,739,255 |  | 19,817,937
|  |  | 21,839,255 |  | 19,917,937
The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 27 March 2026.
C A E Owen
Director
The notes on pages 18 to 36 form part of these financial statements. Page 15
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 August 2023 | 100,000 | 19,529,388 | 19,629,388
COMPREHENSIVE INCOME FOR THE YEAR |  |  |
Profit for the year | - | 1,459,642 | 1,459,642
TOTAL TRANSACTIONS WITH OWNERS | - | - | -
At 1 August 2024 | 100,000 | 20,989,030 | 21,089,030
COMPREHENSIVE INCOME FOR THE YEAR |  |  |
Profit for the year | - | 1,794,031 | 1,794,031
AT 31 JULY 2025 | 100,000 | 22,783,061 | 22,883,061
| The notes on pages 18 to 36 form part of these financial statements.
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 August 2023 | 100,000 | 17,596,413 | 17,696,413
COMPREHENSIVE INCOME FOR THE YEAR |  |  |
Profit for the year | - | 2,221,524 | 2,221,524
TOTAL TRANSACTIONS WITH OWNERS | - | - | -
At 1 August 2024 | 100,000 | 19,817,937 | 19,917,937
COMPREHENSIVE INCOME FOR THE YEAR |  |  |
Profit for the year | - | 1,921,318 | 1,921,318
AT 31 JULY 2025 | 100,000 | 21,739,255 | 21,839,255
| The notes on pages 18 to 36 form part of these financial statements.
Page 16
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025
|  |  | 2025 | 2024
|  |  | £ | £
CASH FLOWS FROM OPERATING ACTIVITIES |  |
Profit for the financial year | 1,794,031 | 1,459,642
ADJUSTMENTS FOR: |  |
Depreciation of tangible assets | 759,012 | 957,447
Loss on disposal of tangible assets | (726,760) | (633,194)
Interest paid | 64,469 | 64,540
Interest received | (367,240) | (369,725)
Taxation charge | 203,782 | 536,155
(Increase)/decrease in stocks | (281,725) | 158,110
(Increase) in debtors | (1,213,147) | (34,710)
Decrease in amounts owed by joint ventures | - | 1,079,585
Increase in creditors | 301,015 | 848,921
Corporation tax (paid) | (39,937) | (897,332)
Change in value of investments | 168,362 | (797,662)
NET CASH GENERATED FROM OPERATING ACTIVITIES | 661,862 | 2,371,777
CASH FLOWS FROM INVESTING ACTIVITIES |  |
Purchase of tangible fixed assets | (5,828,703) | (4,910,200)
Sale of tangible fixed assets | 1,597,963 | 657,865
Movement of short-term listed investments | 737,775 | 615,176
Interest received | 367,240 | 325,488
Joint ventures interest received | - | 44,237
Change in value of investments | 500,000 | 750,000
NET CASH FROM INVESTING ACTIVITIES | (2,625,725) | (2,517,434)
CASH FLOWS FROM FINANCING ACTIVITIES |  |
Repayment of loans | - | (117,512)
Interest paid | (64,469) | (64,540)
NET CASH USED IN FINANCING ACTIVITIES | (64,469) | (182,052)
(DECREASE) IN CASH AND CASH EQUIVALENTS | (2,028,332) | (327,709)
Cash and cash equivalents at beginning of year | 9,590,914 | 9,918,623
CASH AND CASH EQUIVALENTS AT THE END OF YEAR | 7,562,582 | 9,590,914
CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE: |  |
Cash at bank and in hand | 7,562,582 | 9,590,914
| 7,562,582 | 9,590,914
The notes on pages 18 to 36 form part of these financial statements.
Page 17
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | GENERAL INFORMATION
Scotsdale Nursery and Garden Centre Limited is a private company limited by shares, incorporated in England and Wales. The registered office is 120 Cambridge Road, Great Shelford, Cambridge, CB22 5JT. The nature of the Group's operations and principal activity is that of garden centre retailing. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3). The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The financial statements are presented in sterling which is the functional currency of the Company and are rounded to the nearest pound. The following principal accounting policies have been applied:
| 2.2 | BASIS OF CONSOLIDATION
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group Companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. Page 18
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.3 | ASSOCIATES AND JOINT VENTURES
An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control. An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions. In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated Statement of Comprehensive Income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated Balance Sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition. Any premium on acquisition is dealt with in accordance with the goodwill policy.
| 2.4 | GOING CONCERN
The financial statements have been prepared on the going concern basis which assumes that the Group will continue as a going concern for the foreseeable future. In light of the historic profitability of the Group and the significant cash balances (including current asset investments) held, coupled with the comments made in the Strategic Report, the Directors believe the Group will continue to trade profitably and generate cash sufficient to meet its liabilites as they fall due, being a period of not less than 12 months from the approval of the financial statements.
| 2.5 | REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Group has transferred the significant risks and rewards of ownership to the buyer; ∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Group will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 19
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.6 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either the straight-line method or the reducing balance method. Depreciation is provided on the following basis: Freehold buildings and - Straight line over 5 to 50 years improvements Plant and machinery - Straight line over 2, 3, 4 or 5 years Motor vehicles - Straight line over 4 or 5 years Computer equipment - Straight line over 2, 3, 4 or 5 years The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Comprehensive Income.
| 2.7 | VALUATION OF INVESTMENTS
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.8 | STOCKS
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Consolidated Statement of Comprehensive Income.
| 2.9 | DEBTORS
Short term debtors are measured at transaction price, less any impairment. Page 20
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.10 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.11 | FINANCIAL INSTRUMENTS
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets 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. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. Page 21
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.11 | FINANCIAL INSTRUMENTS (continued)
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities 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 Group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
| 2.12 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 22
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.13 | FOREIGN CURRENCY TRANSLATION
Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Consolidated Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
| 2.14 | GOVERNMENT GRANTS
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Consolidated Statement of Comprehensive Income in the same period as the related expenditure.
| 2.15 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.16 | OPERATING LEASES: THE GROUP AS LESSOR
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.
| 2.17 | OPERATING LEASES: THE GROUP AS LESSEE
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.18 | HOLIDAY PAY ACCRUAL
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.
| 2.19 | LEASED ASSETS: THE GROUP AS LESSEE
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Page 23
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.20 | PENSIONS
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.
| 2.21 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.22 | CURRENT AND DEFERRED TAXATION
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Group operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.23 | PROVISIONS FOR LIABILITIES
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 24
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
3. | JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of this amount, events or actions, actual results ultimately may differ from those estimates. The key assumptions concerning the future, and other key sources of estimation uncertainty at the Balance Sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Stock provisions Determining stock provisions involves estimating the recoverable amount of stock held by the Group. Calculating the recoverable amount of stock requires a degree of estimation in terms of the likely demand and prices for individual items. Depreciation and carrying amounts of fixed assets Calculation of the depreciation charge and hence the carrying value of fixed assets requires estimates to be made of the useful life of the assets. The estimates are based on the Group's experience of similar assets and details are set out in note 2.6.
4. | TURNOVER
The total turnover of the Group for the year has been derived from it's principal activity.
| All turnover arose within the United Kingdom.
5. | OPERATING PROFIT
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 759,012 | 957,447
| Exchange differences | 7,164 | 1,937
| Defined contribution pension cost | 224,271 | 270,630
6. | AUDITORS' REMUNERATION
| During the year, the Group obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements | 20,000 | 20,000
Page 25
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
. |
|  | 2025 | 2024
|  | £ | £
| Fees payable to the Group's auditor and its associates in respect of: |  |
| The auditing of accounts of subsidiaries of the Group pursuant to legislation | 9,000 | 9,000
7. | EMPLOYEES
| Staff costs, including Directors' remuneration, were as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Wages and salaries | 6,109,438 | 5,786,807 | 6,109,438 | 5,786,808
| Social security costs | 626,145 | 516,447 | 626,145 | 516,447
| Cost of defined contribution scheme | 224,271 | 270,630 | 224,271 | 270,630
|  | 6,959,854 | 6,573,884 | 6,959,854 | 6,573,885
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Management | 22 | 22 | 22 | 22
|  | Office | 18 | 17 | 18 | 17
|  | Sales and production | 226 | 211 | 226 | 211
|  |  | 266 | 250 | 266 | 250
8. | DIRECTORS' REMUNERATION
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 1,369,127 | 1,335,667
| Group contributions to defined contribution pension schemes | 9,960 | 84,960
|  | 1,379,087 | 1,420,627
| During the year retirement benefits were accruing to 1 Director (2024 - 1) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £885,544 (2024 - £832,037).
| The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £9,960 (2024 - £84,960).
Page 26
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | INCREASE / (DECREASE) IN VALUE OF INVESTMENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Increase / (decrease) in value of investments | 174,768 | 367,663
10. | INTEREST RECEIVABLE
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Interest receivable from joint venture | - | 44,237
| Other interest receivable | 367,240 | 325,488
|  | 367,240 | 369,725
11. | INTEREST PAYABLE AND SIMILAR EXPENSES
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | - | 686
| Other interest payable | 64,469 | 63,854
|  | 64,469 | 64,540
12. | TAXATION
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 132,890 | 395,567
| Adjustments in respect of previous periods | (8) | 11,487
|  | 132,882 | 407,054
| Total current tax | 132,882 | 407,054
| Deferred tax |  |
| Origination and reversal of timing differences | 70,900 | 129,101
| Total deferred tax | 70,900 | 129,101
|  | 203,782 | 536,155
Page 27
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 12.TAXATION (CONTINUED)
| FACTORS AFFECTING TAX CHARGE FOR THE YEAR
| The tax assessed for the year is lower than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,997,813 | 1,995,797
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 499,453 | 498,949
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 5,034 | 5,789
| Capital allowances for year in excess of depreciation | (375,924) | (203,163)
| Adjustments to tax charge in respect of prior periods | (8) | 11,487
| Other timing differences leading to an increase (decrease) in taxation | 75,227 | 130,778
| Capital gains | - | 92,315
| Total tax charge for the year | 203,782 | 536,155
| FACTORS THAT MAY AFFECT FUTURE TAX CHARGES
There were no factors that may affect future tax charges.
13. | PARENT COMPANY PROFIT FOR THE YEAR
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £1,921,318 (2024 - £2,221,524). Page 28
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
14. | TANGIBLE FIXED ASSETS
| Group
|  | Freehold land and buildings and property improvem'nts | Plant & machinery | Motor vehicles | Computer Equipment | Total
|  | £ | £ | £ | £ | £
| COST |  |  |  |  |
| At 1 August 2024 | 15,607,130 | 1,926,008 | 337,686 | 117,605 | 17,988,429
| Additions | 4,062,695 | 1,596,038 | 140,500 | 29,470 | 5,828,703
| Disposals | (1,860,056) | (182,554) | (79,620) | - | (2,122,230)
| At 31 July 2025 | 17,809,769 | 3,339,492 | 398,566 | 147,075 | 21,694,902
| Depreciation |  |  |  |  |
| At 1 August 2024 | 6,461,255 | 1,621,855 | 203,512 | 88,449 | 8,375,071
| Charge for the year on owned assets | 317,752 | 330,572 | 77,418 | 33,270 | 759,012
| Disposals | (1,008,757) | (182,554) | (59,716) | - | (1,251,027)
| At 31 July 2025 | 5,770,250 | 1,769,873 | 221,214 | 121,719 | 7,883,056
| Net book value |  |  |  |  |
| At 31 July 2025 | 12,039,519 | 1,569,619 | 177,352 | 25,356 | 13,811,846
| At 31 July 2024 | 9,145,875 | 304,153 | 134,174 | 29,156 | 9,613,358
| Freehold land and buildings includes £2,901,781 (2024 - £4,106,837) as the Directors estimate of the cost of land. In accordance with Section 17 of FRS102 "Property, Plant and Equipment", land is not depreciated.
Page 29
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 14.TANGIBLE FIXED ASSETS (CONTINUED)
| Company
|  | Freehold land and buildings and property improvem'nts | Plant & machinery | Motor vehicles | Computer Equipment | Total
|  | £ | £ | £ | £ | £
| COST |  |  |  |  |
| At 1 August 2024 | 15,512,747 | 1,926,008 | 337,686 | 117,605 | 17,894,046
| Additions | 4,062,695 | 1,596,038 | 140,500 | 29,470 | 5,828,703
| Disposals | (1,860,056) | (182,554) | (79,620) | - | (2,122,230)
| At 31 July 2025 | 17,715,386 | 3,339,492 | 398,566 | 147,075 | 21,600,519
| Depreciation |  |  |  |  |
| At 1 August 2024 | 6,461,255 | 1,621,855 | 203,512 | 88,449 | 8,375,071
| Charge for the year on owned assets | 317,752 | 330,572 | 77,418 | 33,270 | 759,012
| Disposals | (1,008,757) | (182,554) | (59,716) | - | (1,251,027)
| At 31 July 2025 | 5,770,250 | 1,769,873 | 221,214 | 121,719 | 7,883,056
| Net book value |  |  |  |  |
| At 31 July 2025 | 11,945,136 | 1,569,619 | 177,352 | 25,356 | 13,717,463
| At 31 July 2024 | 9,051,492 | 304,153 | 134,174 | 29,156 | 9,518,975
| Freehold land and buildings includes £2,636,802 (2024 - £3,841,858) as the Directors estimate of the cost of land. In accordance with Section 17 of FRS102 "Property, Plant and Equipment", land is not depreciated.
Page 30
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
15. | FIXED ASSET INVESTMENTS
| Group
|  | Investment in joint ventures
|  | £
| COST AND NET BOOK VALUE |
| At 1 August 2024 | 671,490
| Disposals | (500,000)
| Share of profit/(loss) | (168,362)
| At 31 July 2025 | 3,128
| Company
|  | Investments in subsidiary companies
|  | £
| COST AND NET BOOK VALUE |
| At 1 August 2024 | 500,001
| At 31 July 2025 | 500,001
| SUBSIDIARY UNDERTAKING
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Scotsdale Fordham Limited | 120 Cambridge Road, Great Shelford, Cambridge, CB22 5JT - | Ordinary and Redeemable preference shares - | 100% -
| Joint ventures The Group holds 50% (2023 - 50%) of the members' capital of Scotsdale Hill LLP, an LLP incorporated in England that undertakes property development. Scotsdale Hill is not deemed to be under the control of the Group and is therefore accounted for as a joint venture.
Page 31
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
16. | STOCKS
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Finished goods and goods for resale | 2,591,390 | 2,309,665 | 2,591,390 | 2,309,664
| The difference between purchase price or production cost of stocks and their replacement cost is not material.
17. | DEBTORS
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 37,961 | 17,066 | 37,961 | 17,066
| Other debtors | 1,018,690 | 35,154 | 1,018,690 | 35,153
| Prepayments and accrued income | 692,585 | 483,869 | 692,585 | 483,869
| Tax recoverable | 990,785 | 1,083,730 | 573,136 | 722,337
|  | 2,740,021 | 1,619,819 | 2,322,372 | 1,258,425
18. | CURRENT ASSET INVESTMENTS
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Listed investments | 1,963,880 | 2,701,655 | 1,963,880 | 2,701,655
| Listed investments The listed investments are held at market value. The investments are held on a short term basis as the funds are earmarked for the anticipated costs associated with improvements and expansion plans.
19. | CASH AND CASH EQUIVALENTS
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 7,562,582 | 9,590,914 | 7,548,929 | 9,557,088
Page 32
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
20. | CREDITORS: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade creditors | 1,807,981 | 2,047,995 | 1,807,981 | 2,047,995
| Amounts owed to group undertakings | - | - | 1,030,000 | 525,000
| Other taxation and social security | 543,924 | 443,726 | 543,923 | 443,727
| Other creditors | 1,271,483 | 1,556,716 | 1,271,483 | 1,556,716
| Accruals and deferred income | 1,892,537 | 1,166,473 | 1,877,532 | 1,151,472
|  | 5,515,925 | 5,214,910 | 6,530,919 | 5,724,910
21. | FINANCIAL INSTRUMENTS
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Financial assets |  |  |  |
| Financial assets measured at fair value through profit or loss | 1,963,880 | 2,701,655 | 1,963,550 | 2,701,655
| Financial assets that are debt instruments measured at amortised cost | 1,810,849 | 52,220 | 1,056,651 | 52,219
|  | 3,774,729 | 2,753,875 | 3,020,201 | 2,753,874
| Financial liabilities |  |  |  |
| Financial liabilities measured at amortised cost | 3,646,013 | (4,771,184) | (4,661,008) | (5,281,183)
| Financial assets measured at fair value through profit or loss comprise current asset investments.
| Financial assets that are debt instruments measured at amortised cost comprise trade debtors, amounts owed by group undertakings, amounts owed by joint ventures and associated undertakings and other debtors.
| Financial liabilities measured at amortised cost comprise bank loans, trade creditors, other creditors, accruals and amounts owed to group undertakings.
Page 33
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
22. | DEFERRED TAXATION
| Group
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (202,961) | (73,860)
| Charged to profit or loss | (70,900) | (129,101)
| At end of year | (273,861) | (202,961)
| Company
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (202,961) | (73,860)
| Charged to profit or loss | (70,900) | (129,101)
| At end of year | (273,861) | (202,961)
| The provision for deferred taxation is made up as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Lagged capital allowances | (285,854) | (210,633) | (285,854) | (210,633)
| Other timing differences | 11,993 | 7,672 | 11,993 | 7,672
|  | (273,861) | (202,961) | (273,861) | (202,961)
23. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Authorised, allotted, called up and fully paid |  |
|  | 100,000 (2024 - 100,000) Ordinary shares of £1.00 each | 100,000 | 100,000
Page 34
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
24. | CAPITAL COMMITMENTS
| At 31 July 2025 the Group and Company had capital commitments as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Contracted for but not provided in these financial statements | 642,380 | 5,219,591 | 642,380 | 5,219,591
25. | PENSION COMMITMENTS
The Group operates defined contributions pension schemes. The assets of the schemes are held separately from those of the Group in independently administered funds. The pension cost charge represents contributions payable by the Group to the funds amounted to £224,271 (2024 - £270,630). Contributions totalling £47,971 (2024 - £30,670) were payable to the funds at the Balance Sheet date and are included in creditors.
26. | COMMITMENTS UNDER OPERATING LEASES
| At 31 July 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Not later than 1 year | 41,147 | 41,147 | 41,147 | 41,147
| Later than 1 year and not later than 5 years | 49,012 | 90,159 | 49,012 | 90,159
|  | 90,159 | 131,306 | 90,159 | 131,306
27.FINANCIAL COMMITMENTS The freehold land and buildings includes garden centre sites purchased which, as part of the purchase agreements, there are overage commitments in connection with any potential enhanced site values obtained through planning permission. In the Directors' opinion no liability is expected to crystalise in the foreseeable future.
28. | RESERVES
Profit & loss account The profit and loss account represents cumulative profits and losses less dividends paid. Page 35
SCOTSDALE NURSERY AND GARDEN CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
29. | RELATED PARTY TRANSACTIONS
| During the year there was a loan due to D A Rayner, a former Director of the parent company. The amount due to The D A Rayner Estate at the year end was £Nil (2024 - £6,605). During the year there was a loan due to C A E Owen, a Director of the parent Company. The amount due to C A E Owen at the year end was £1,179,983 (2024 - £1,505,337). During the year the parent Company was charged interest of £64,469 (2024 - £63,854) from the Directors, relating to interest on their Directors loan accounts. The interest charge relating to C A E Owen's loan account was £64,469 (2024 - £63,854). During the year the parent Company made sales of £1,939 (2024 - £1,927) to B T W Rayner, a Director of the parent Company. The balance due from B T W Rayner at the year end was £Nil (2024 - £Nil). During the year the parent Company made sales of £3,740 (2024 - £4,648) to C A E Owen, a Director of the parent Company. The balance due from C A E Owen at the year end was £Nil (2024 - £Nil). During the year the parent Company leased land for an annual rent of £1 (2024 - £1) and made sales of £6,071 (2024 - £1,282), to the Scotsdales Charitable Foundation, a trust in which B T W Rayner and C A E Owen are trustees. The amount due from the Scotsdales Charitable Foundation at the year end was £2,201 (2024 - £Nil). During the year the parent company traded with David Rayner Farms Partnership, a business in which B T W Rayner is a partner. Sales to the partnership amounted to £754 (2024 - £671). At the year end £374 (2024 - £450) was owed from David Rayner Farms Partnership. During the year the parent company made an interest free loan to Zanliff Limited, a company in which B T W Rayner has a material interest. The balance due from Zanliff Limited at the year end was £925,000 (2024 - £Nil). During the year the parent company made an interest free loan to Bottisham Farming Limited, a company in which the families of C A E Owen and B T W Rayner have a material interest. the balance due from Bottisham Farming Limited at the year end was £50,000 (2024 - £Nil). During the year the subsidiary Company, Scotsdale Fordham Limited made sales of £Nil (2024 - £143,501) to Scotsdale Hill LLP, an LLP in which Scotsdale Fordham Limited owns 50%. The amount received by the subsidiary Company in income from interests in the Scotsdale Hill LLP joint venture was £(168,362) (2024 - £797,662). Debtors due from Scotsdale Hill LLP accrue interest at a rate of 5% per annum. The interest received by the subsidiary Company during the year was £Nil (2024 - £44,236). The amount due from Scotsdale Hill LLP at the year end was £Nil (2024 - £Nil). The gross remuneration of key management personnel was £1,576,369 (2024 - £1,525,828). The Company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned Group Companies.
Page 36