Company No: 06921124 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	P D Greenhalgh
	C A Meyer

Registered office	5 Brunel Close
	Drayton Fields Industrial Estate
	Daventry
	Northamptonshire
	NN11 8RB
	United Kingdom

Company number

06921124 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	459,478		473,346
Investments	5	315,690		315,690
		775,168		789,036
Current assets
Stocks		641,608		641,475
Debtors	6	608,440		650,995
Cash at bank and in hand		367,399		337,602
		1,617,447		1,630,072
Creditors: amounts falling due within one year	7	( 216,106)		( 232,736)
Net current assets		1,401,341		1,397,336
Total assets less current liabilities		2,176,509		2,186,372
Net assets		2,176,509		2,186,372
Capital and reserves
Called-up share capital	9	200,000		200,000
Profit and loss account		1,976,509		1,986,372
Total shareholder's funds		2,176,509		2,186,372

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 P G Horticulture Limited (registered number: 06921124) were approved and authorised for issue by the Board of Directors on 23 June 2026. They were signed on its behalf by:

P D Greenhalgh 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

P G Horticulture Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The registered number is 06921124. The address of the Company's registered office is 5 Brunel Close, Drayton Fields Industrial Estate, Daventry, Northamptonshire, NN11 8RB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

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.

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.

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

15 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. Goodwill is amortised on a straight line basis over its useful economic life, which is 15 years.

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, other than investment property and freehold land, 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:

Land and buildings	50 years straight line
Plant and machinery	2 - 4 years straight line
Vehicles	3 years straight line
Fixtures and fittings	5 years straight line

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		8

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2025	316,308		316,308
At 31 December 2025	316,308		316,308
Accumulated amortisation
At 01 January 2025	316,308		316,308
At 31 December 2025	316,308		316,308
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 January 2025	530,073		42,141		68,769		63,803		704,786
Additions	0		0		14,000		0		14,000
At 31 December 2025	530,073		42,141		82,769		63,803		718,786
Accumulated depreciation
At 01 January 2025	96,476		36,771		37,230		60,963		231,440
Charge for the financial year	7,422		2,048		16,741		1,657		27,868
At 31 December 2025	103,898		38,819		53,971		62,620		259,308
Net book value
At 31 December 2025	426,175		3,322		28,798		1,183		459,478
At 31 December 2024	433,597		5,370		31,539		2,840		473,346

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	315,690
At 31 December 2025	315,690
Carrying value at 31 December 2025	315,690
Carrying value at 31 December 2024	315,690

6. Debtors

	2025		2024
	£		£
Trade debtors	260,534		288,533
Amounts owed by Parent undertakings	330,495		348,619
Prepayments	11,101		10,698
Deferred tax asset	6,310		3,145
	608,440		650,995

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	40,651		48,252
Taxation and social security	85,408		71,650
Other creditors	90,047		112,834
	216,106		232,736

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	3,145		3,066
Credited to the Statement of Income and Retained Earnings	3,165		79
At the end of financial year	6,310		3,145

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	6,310		3,145

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
200,000 Ordinary shares of £ 1.00 each	200,000		200,000

10. Financial commitments

Pensions

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,125 (2024 - £5,998). Contributions totalling £1,347 (2024 - £1,405) were payable to the fund at the balance sheet date and are included in creditors.

11. Related party transactions

The company is a wholly owned subsidiary of HMR-Verwaltungsgesellschaft MBH (HMR), a company registered in Germany.

The Company has continued to provide a loan to its subsidiary Thorntrees Amenity Limited (TAL). During the year, the company has provided further loans totalling £10,000 (2024 - £27,300). At the balance sheet date, the outstanding loan balance after repayments due to the company from TAL was £330,495 (2024 - £348,619).

12. Ultimate controlling party

Parent Company:

HMR-Verwaltungsgesellschaft MBH

The ultimate controlling party is Hermann Meyer KG, registered in Germany, who is the controlling shareholder in HMR-Verwaltungsgesellschaft MBH. Hermann Meyer KG registered office is located at Halstenbeker Weg 100, Rellingen, 25462, Germany.