Company No: SC262116 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	102,762		124,723
		102,762		124,723
Current assets
Stocks	5	8,514		7,740
Debtors	6	9,626		1,684
Cash at bank and in hand	7	53,126		58,038
		71,266		67,462
Creditors: amounts falling due within one year	8	( 124,914)		( 101,725)
Net current liabilities		(53,648)		(34,263)
Total assets less current liabilities		49,114		90,460
Creditors: amounts falling due after more than one year	9	( 982)		( 20,766)
Provision for liabilities	10, 11	( 25,691)		( 31,169)
Net assets		22,441		38,525
Capital and reserves
Called-up share capital	12	100		100
Profit and loss account		22,341		38,425
Total shareholders' funds		22,441		38,525

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Gardens Galore Limited (registered number: SC262116) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

Jamie Daniel Byiers Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gardens Galore Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Balvaird Cottage, 27 Lynedoch, Road, Scone, Perthshire, PH2 6RJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

15 - 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under hire purchase contracts, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		9

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2025	60,000		60,000
At 31 March 2026	60,000		60,000
Accumulated amortisation
At 01 April 2025	60,000		60,000
At 31 March 2026	60,000		60,000
Net book value
At 31 March 2026	0		0
At 31 March 2025	0		0

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2025	246,412		246,412
Additions	1,567		1,567
Disposals	( 4,159)		( 4,159)
At 31 March 2026	243,820		243,820
Accumulated depreciation
At 01 April 2025	121,689		121,689
Charge for the financial year	22,912		22,912
Disposals	( 3,543)		( 3,543)
At 31 March 2026	141,058		141,058
Net book value
At 31 March 2026	102,762		102,762
At 31 March 2025	124,723		124,723

5. Stocks

	2026		2025
	£		£
Stocks	8,514		7,740

6. Debtors

	2026		2025
	£		£
Trade debtors	8,422		896
Other debtors	1,204		788
	9,626		1,684

7. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	53,126		58,038

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	5,252		10,376
Trade creditors	33,602		29,956
Taxation and social security	59,078		41,050
Obligations under finance leases and hire purchase contracts	14,533		13,933
Other creditors	12,449		6,410
	124,914		101,725

Included within bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan is fully backed by a government guarantee.

Obligations under hire purchase contracts are secured over the assets to which they relate.

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

	2026		2025
	£		£
Bank loans	0		5,252
Obligations under finance leases and hire purchase contracts	982		15,514
	982		20,766

Included within bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan is fully backed by a government guarantee.

Obligations under hire purchase contracts are secured over the assets to which they relate.

10. Provision for liabilities

	2026		2025
	£		£
Deferred tax	25,691		31,169

11. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 31,169)		( 27,000)
Credited/(charged) to the Statement of Income and Retained Earnings	5,478		( 4,169)
At the end of financial year	( 25,691)		( 31,169)

12. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

13. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Amounts owed by Directors	363		0
Amounts owed to Directors	0		112

Advances were made to the directors in the year totalling £1,099 and Repayments of £624. The amounts owed are unsecured and repayable on demand.