Kings Garden and Leisure Ltd - Period Ending 2025-09-30

Registration number: 05147580

Kings Garden and Leisure Ltd

Annual Report and Financial Statements

for the Year Ended 30 September 2025

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Contents

Company Information	1
Strategic Report	2
Financial KPI's	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 8
Profit and Loss Account	9
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Financial Statements	13 to 26

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Company Information

Directors

Mr R D King

Mrs N King

Company secretary

Mrs N King

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Solicitors

Trowers & Hamlins
The Senate
Southernhay Gardens
Exeter
Devon
EX1 1UG

Auditors

Thompson Jenner LLP
Statutory Auditor
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Strategic Report for the Year Ended 30 September 2025

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

Principal activity

The principal activity of the company is that associated with garden centres and onsite coffee shops.

Fair review of the business

The directors consider that the key financial performance indicators are those that communicate the financial performance and position of the company as a whole, these being turnover and profit margins.

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

Financial KPIs	Unit	2025	2024
Turnover	£,000	5,976	5,700
Turnover growth	%	5	2
Gross profit margin	%	59	57
Operating profit	£,000	1,105	879
Shareholder funds	£,000	7,782	7,131

Principal risks and uncertainties

The company continues to monitor weekly sales and monthly management information to ensure that working capital is effectively controlled.

Approved and authorised by the Board on 2 June 2026 and signed on its behalf by:

.........................................
Mrs N King
Company secretary and director

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Directors' Report for the Year Ended 30 September 2025

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

Directors of the company

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

Mr R D King

Mrs N King - Company secretary and director

Financial instruments

Objectives and policies

The company's principal financial instruments comprise the bank balances and trade creditors. The main purpose of these instruments is to finance the company's operations.

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

Due to the nature of the financial instruments used by the company, there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below:

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Future developments

The company intends to continue to grow sales and develop new markets.

Disclosure of information to the auditors

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

Approved and authorised by the Board on 2 June 2026 and signed on its behalf by:

.........................................
Mrs N King
Company secretary and director

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

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

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

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Independent Auditor's Report to the Members of Kings Garden and Leisure Ltd

Opinion

We have audited the financial statements of Kings Garden and Leisure Ltd (the 'company') for the year ended 30 September 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Independent Auditor's Report to the Members of Kings Garden and Leisure Ltd

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors' remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Independent Auditor's Report to the Members of Kings Garden and Leisure Ltd

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

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.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

•	the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
•	we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the garden retail and hospitality sectors;
•	we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, fire safety, food safety and hygiene, and health and safety legislation;
•	we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing licenses, certificates and relevant correspondence including the inspection of legal correspondence; and
•	identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

•	making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
•	considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

•	performed analytical procedures to identify any unusual or unexpected relationships;
•	tested journal entries to identify unusual transactions;
•	assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
•	investigated the rationale behind significant or unusual transactions.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Independent Auditor's Report to the Members of Kings Garden and Leisure Ltd

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

•	agreeing financial statement disclosures to underlying supporting documentation;
•	reading the minutes of meetings of those charged with governance;
•	enquiring of management as to actual and potential litigation and claims; and
•	reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Mr David Tucker (Senior Statutory Auditor)
For and on behalf of Thompson Jenner LLP, Statutory Auditor

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2 June 2026

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Profit and Loss Account for the Year Ended 30 September 2025

	Note	2025 £	2024 £
Turnover	3	5,975,301	5,699,916
Cost of sales		(2,450,492)	(2,435,502)
Gross profit		3,524,809	3,264,414
Administrative expenses		(2,437,950)	(2,405,777)
Other operating income	4	17,927	18,553
Operating profit	6	1,104,786	877,190
Other interest receivable and similar income	7	684	1,337
Profit before tax		1,105,470	878,527
Taxation	11	(284,749)	(227,568)
Profit for the financial year		820,721	650,959

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Statement of Comprehensive Income for Year Ended 30 September 2025

2025
£

2024
£

Profit for the year

820,721

650,959

Total comprehensive income for the year

820,721

650,959

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	12	4,069,208	3,937,800
Investment property	13	400,000	400,000
Investments	14	1	-
		4,469,209	4,337,800
Current assets
Stocks	15	508,168	405,935
Debtors	16	605,498	28,500
Cash at bank and in hand	17	2,990,935	3,186,790
		4,104,601	3,621,225
Creditors: Amounts falling due within one year	18	(682,297)	(706,427)
Net current assets		3,422,304	2,914,798
Total assets less current liabilities		7,891,513	7,252,598
Provisions for liabilities	19	(109,016)	(121,822)
Net assets		7,782,497	7,130,776
Capital and reserves
Called up share capital	21	100	100
Profit and loss account		7,782,397	7,130,676
Total equity		7,782,497	7,130,776

Approved and authorised by the Board on 2 June 2026 and signed on its behalf by:

.........................................
Mr R D King
Director

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Statement of Changes in Equity for the Year Ended 30 September 2025

	Share capital £	Retained earnings £	Total £
At 1 October 2024	100	7,130,676	7,130,776
Profit for the year	-	820,721	820,721
Dividends	-	(169,000)	(169,000)
At 30 September 2025	100	7,782,397	7,782,497

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

100

6,648,717

6,648,817

Profit for the year

-

650,959

650,959

Dividends

-

(169,000)

(169,000)

At 30 September 2024

100

7,130,676

7,130,776

Kings Garden and Leisure Ltd
(Registration number: 05147580)

Statement of Cash Flows for the Year Ended 30 September 2025

	Note	2025 £	2024 £
Cash flows from operating activities
Profit for the year		820,721	650,959
Adjustments to cash flows from non-cash items
Depreciation and amortisation	6	152,584	167,961
Loss on disposal of tangible assets	5	-	13,270
Profit from sales of investment properties	5	-	(7,680)
Finance income	7	(684)	(1,337)
Income tax expense	11	284,749	227,568
		1,257,370	1,050,741
Working capital adjustments
Increase in stocks	15	(102,233)	(65,023)
(Increase)/decrease in trade debtors	16	(576,998)	2,616
Decrease in trade creditors	18	(98,824)	(93,428)
Cash generated from operations		479,315	894,906
Income taxes paid	11	(222,861)	(256,895)
Net cash flow from operating activities		256,454	638,011
Cash flows from investing activities
Interest received	7	684	1,337
Acquisition of subsidiaries	14	(1)	-
Acquisitions of tangible assets	12	(283,992)	(720,179)
Proceeds from sale of tangible assets		-	44,333
Proceeds from sale of investment properties		-	375,000
Net cash flows from investing activities		(283,309)	(299,509)
Cash flows from financing activities
Dividends paid	22	(169,000)	(169,000)
Net (decrease)/increase in cash and cash equivalents		(195,855)	169,502
Cash and cash equivalents at 1 October		3,186,790	3,017,288
Cash and cash equivalents at 30 September		2,990,935	3,186,790

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

1	General information

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

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

The principal place of business is:
Higher Hulham Road
Exmouth
Devon
EX8 5DZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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

Basis of preparation

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

Group accounts not prepared

The financial statements contain information about Kings Garden and Leisure Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is excluded under Section 402 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

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

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

Judgements

The company carries its investment properties at fair value, with changes in fair value being recognised in profit or loss. The properties were valued on 30 September 2025 by the directors. The methodology of this valuation was based on market values of similar properties and rental yields. The value of investment properties at the year end is £400,000 (2024: £400,000) with the carrying amount at historical cost being £295,169 (2024: £295,169). The prior year amounts are after a disposal of investment property valued at £367,320 with a historical cost of £367,320.

Key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property, plant and equipment, and note 2 for the useful economic lives and depreciation rates applied for each class of assets.

Revenue recognition

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

Rental income is recognised over the period for which the land and buildings are occupied by the customer and on a time apportionment basis.

Tax

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

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class	Depreciation method and rate
Freehold buildings	2% straight line
Plant and machinery	10-20% reducing balance
Motor vehicles	20% reducing balance
Tractors	20% reducing balance

Investment property

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

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

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

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

Dividends

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

Turnover

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

	2025 £	2024 £
Sale of goods	5,975,301	5,699,916

The analysis of the company's Turnover for the year by class of business is as follows:

	2025 £	2024 £
Garden centre sales	3,934,741	3,735,206
Coffee shop sales	2,040,560	1,964,710
	5,975,301	5,699,916

4	Other operating income

The analysis of the company's other operating income for the year is as follows:

	2025 £	2024 £
Sub lease rental income	17,280	16,980
Miscellaneous other operating income	647	1,573
	17,927	18,553

5	Other gains and losses

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

	2025 £	2024 £
Loss on disposal of Tangible assets	-	(13,270)
Gain from sales of investment properties	-	7,680
	-	(5,590)

6	Operating profit

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	152,584	167,961
Loss on disposal of property, plant and equipment	-	13,270

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

7	Other interest receivable and similar income

	2025 £	2024 £
Other finance income	684	1,337

8	Staff costs

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

	2025 £	2024 £
Wages and salaries	1,349,531	1,272,637
Social security costs	110,529	85,657
Other short-term employee benefits	7,826	6,855
Pension costs, defined contribution scheme	143,215	339,493
Other employee expense	450	1,051
	1,611,551	1,705,693

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

	2025 No.	2024 No.
Directors	2	2
Administration and support	3	3
Garden Centre	32	36
Coffee Shop	52	52
	89	93

9	Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	23,938	21,492
Contributions paid to money purchase schemes	60,000	200,000
	83,938	221,492

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

10	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	6,500	6,000
Other fees to auditors
All other non-audit services	8,656	6,224

Taxation

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

	2025 £	2024 £
Current taxation
UK corporation tax	297,555	222,862
Deferred taxation
Arising from origination and reversal of timing differences	(12,806)	4,706
Tax expense in the income statement	284,749	227,568

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

	2025 £	2024 £
Profit before tax	1,105,470	878,527
Corporation tax at standard rate	276,368	219,632
Tax increase from effect of capital allowances and depreciation	7,959	7,912
Effect of expense not deductible in determining taxable profit (tax loss)	422	25
Tax decrease from other tax effects	-	(1)
Total tax charge	284,749	227,568

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

Deferred tax

Deferred tax assets and liabilities

2025	Liability £
Accelerated capital allowances	99,190
Other timing differences	(482)
Revaluation of investment property	10,308
	109,016

2024	Liability £
Accelerated capital allowances	111,995
Other timing differences	(481)
Revaluation of investment property	10,308
	121,822

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

12	Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
£

Tractors
£

Total
£

Cost or valuation

At 1 October 2024

3,467,772

872,518

242,967

285,150

4,868,407

Additions

227,871

46,121

10,000

-

283,992

At 30 September 2025

3,695,643

918,639

252,967

285,150

5,152,399

Depreciation

At 1 October 2024

67,350

583,596

90,718

188,943

930,607

Charge for the year

34,088

66,805

32,450

19,241

152,584

At 30 September 2025

101,438

650,401

123,168

208,184

1,083,191

Carrying amount

At 30 September 2025

3,594,205

268,238

129,799

76,966

4,069,208

At 30 September 2024

3,400,422

288,922

152,249

96,207

3,937,800

Included within the net book value of land and buildings above is £3,594,205 (2024 - £3,400,422) in respect of freehold land and buildings.

Page 21

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

13	Investment properties

	2025 £
At 1 October	400,000
At 30 September	400,000

There has been no valuation of investment property by an independent valuer in the current period.

14	Investments

	2025 £	2024 £
Investments in subsidiaries	1	-

Subsidiaries	£
Cost or valuation
At 1 October 2024	-
Additions	1
At 30 September 2025	1
Carrying amount
At 30 September 2025	1
At 30 September 2024	-

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2025	2024
Subsidiary undertakings
Goldie Holdings Limited	28 Alexandra Terrace, Exmouth, Devon, EX8 1BD	Ordinary	100%	0%

Subsidiary undertakings

Goldie Holdings Limited

The principal activity of Goldie Holdings Limited is a dormant company.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

Stocks

	2025 £	2024 £
Other stocks	508,168	405,935

Debtors

	2025 £	2024 £
Trade debtors	2,690	2,319
Other debtors	577,894	3,629
Prepayments and accrued income	24,914	22,552
Total current trade and other debtors	605,498	28,500

17	Cash and cash equivalents

	2025 £	2024 £
Cash on hand	28,078	27,757
Cash at bank	2,962,857	3,159,033
	2,990,935	3,186,790

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	183,454	240,133
Taxation and social security	451,656	386,512
Outstanding defined contribution pension costs	4,501	4,490
Other creditors	15,494	26,287
Accruals and deferred income	27,192	49,005
	682,297	706,427

19	Provisions for liabilities

	Deferred tax £	Total £
At 1 October 2024	121,822	121,822
Increase (decrease) in existing provisions	(12,806)	(12,806)
At 30 September 2025	109,016	109,016

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

20	Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £143,215 (2024 - £339,493).

Contributions totalling £4,501 (2024 - £4,490) were payable to the scheme at the end of the year and are included in creditors.

21	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Rights, preferences and restrictions

Ordinary have the following rights, preferences and restrictions:
There are no restrictions on the distribution of diviends and the repayment of capital for all share classes. All share classes carry the same voting rights of 1 per share.

Dividends

Interim dividends paid

	2025 £	2024 £
Interim dividend of £1,690.00 per each Ordinary	169,000	169,000

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

23	Related party transactions

Transactions with directors

2025	At 1 October 2024 £	Advances to director £	Repayments by director £	At 30 September 2025 £

Director 1 - interest free loan repayable on demand	(13,112)	91,032	(84,531)	(6,611)


Director 2 - interest free loan repayable on demand	(13,112)	91,032	(84,531)	(6,611)

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Director 1 - interest free loan repayable on demand

(27,774)

299,162

(284,500)

(13,112)

Director 2 - interest free loan repayable on demand

(27,774)

299,162

(284,500)

(13,112)

Summary of transactions with other related parties

Other related parties comprise close family members of the directors, who were employed by the company during the period on commercial terms. Total remuneration, including the cash value of taxable beneifts in kind, for the year ended 30 September 2025 amounted to £198,329 (2024: £302,871).

Loans to related parties

2025	Other related parties £	Total £
At start of period	-	-
Advanced	577,215	577,215
At end of period	577,215	577,215

Terms of loans to related parties

Loans to other related parties comprise intercompany loans to companies controlled by the shareholders. The loans are interest-free and repayable on demand.

Kings Garden and Leisure Ltd
(Registration number: 05147580)

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

24	Controlling party

The ultimate controlling parties are R & N King who own the entirety of the share capital.

	Land and buildings £	Plant and machinery £	Motor vehicles £	Tractors £	Total £
Cost or valuation
At 1 October 2024	3,467,772	872,518	242,967	285,150	4,868,407
Additions	227,871	46,121	10,000	-	283,992
At 30 September 2025	3,695,643	918,639	252,967	285,150	5,152,399
Depreciation
At 1 October 2024	67,350	583,596	90,718	188,943	930,607
Charge for the year	34,088	66,805	32,450	19,241	152,584
At 30 September 2025	101,438	650,401	123,168	208,184	1,083,191
Carrying amount
At 30 September 2025	3,594,205	268,238	129,799	76,966	4,069,208
At 30 September 2024	3,400,422	288,922	152,249	96,207	3,937,800

2024	At 1 October 2023 £	Advances to director £	Repayments by director £	At 30 September 2024 £

Director 1 - interest free loan repayable on demand	(27,774)	299,162	(284,500)	(13,112)



Director 2 - interest free loan repayable on demand	(27,774)	299,162	(284,500)	(13,112)