Company registration number 03673635 (England and Wales)
GROVEWELL TENTERDEN LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
PAGES FOR FILING WITH REGISTRAR
Richard Anthony
Accountants and Tax Advisors and Registered Auditors
GROVEWELL TENTERDEN LIMITED
COMPANY INFORMATION
Directors
D M Boult
E W Boult
E A Boult
Company number
03673635
Registered office
Ground Floor Cooper House
316 Regents Park Road
London
United Kingdom
N3 2JX
Auditor
Richard Anthony
Ground Floor Cooper House
316 Regents Park Road
London
United Kingdom
N3 2JX
Business address
Reading Street
Tenterden
Kent
TN30 7HT
GROVEWELL TENTERDEN LIMITED
CONTENTS
Page
Directors' report
1 - 2
Balance sheet
3
Notes to the financial statements
4 - 11
GROVEWELL TENTERDEN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2026
- 1 -

The directors present their annual report and financial statements for the year ended 31 January 2026.

Principal activities

The principal activity of the company continued to be that of a Garden Centre.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D M Boult
E W Boult
E A Boult
Auditor

In accordance with the company's articles, a resolution proposing that Richard Anthony be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible 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 then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; 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. 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.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

GROVEWELL TENTERDEN LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 2 -
On behalf of the board
E W Boult
Director
29 July 2026
GROVEWELL TENTERDEN LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2026
31 January 2026
- 3 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,219,773
1,268,479
Current assets
Stocks
452,229
423,436
Debtors
5
867,823
694,977
Cash at bank and in hand
78,935
9,416
1,398,987
1,127,829
Creditors: amounts falling due within one year
6
(794,948)
(757,779)
Net current assets
604,039
370,050
Total assets less current liabilities
1,823,812
1,638,529
Provisions for liabilities
(93,872)
(89,247)
Net assets
1,729,940
1,549,282
Capital and reserves
Called up share capital
7
18,500
18,500
Share premium account
116,487
116,487
Profit and loss reserves
1,594,953
1,414,295
Total equity
1,729,940
1,549,282

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 July 2026 and are signed on its behalf by:
D M Boult
E W Boult
Director
Director
Company registration number 03673635 (England and Wales)
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
- 4 -
1
Accounting policies
Company information

Grovewell Tenterden Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor Cooper House, 316 Regents Park Road, London, United Kingdom, N3 2JX.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Grovewell Garden Centres Limited. These consolidated financial statements are available from its registered office, Ground Floor Cooper House, 316 Regents Park Road, London N3 2JX.

1.2
Going concern

As at the balance sheet date, the company reported net assets of £1,729,940 (2025: £1,549,282) and held a positive cash balance of £78,935 (2025: £9,416). The company remained profitable, reporting a profit before tax of £262,659 (2025: £293,220) for the year.true

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 5 -
1.3
Revenue

Revenue comprises income from garden centres and represents the fair value of consideration received or receivable from the sale of goods during the ordinary course of business, net of value added tax, returns, rebates, discounts and promotional allowances. Revenue is recognised when control of the goods or services is transferred to the customer and the company performance obligations have been satisfied. For retail sales, this occurs at the point the customer takes possession of the goods in-store or upon collection. Revenue is measured at the transaction price expected to be received. Where gift vouchers are sold, revenue is deferred and recognised when the vouchers are redeemed.

Other operating income

Other operating income comprises management charges receivable for services provided to Group companies and is recognised net of value added tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2.5% on cost of building development
Plant and machinery
25% reducing balance method
Fixtures, fittings and equipment
25% straight line method
Motor vehicles
25% reducing balance method

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Garden centre resale stock comprises plants, gardening products, garden furniture and sundries purchased to resale and is valued at cost on an average cost basis. Net realisable value represents the estimated selling price in the ordinary course of business, less cost to complete the sell.

Biological growing stock represents aquatic fish, trees and plants purchased and grown by the company for subsequent sale and is included within stocks in the balance sheet. Such stock is measured at cost less accumulated impairment. Biological growing stock is reviewed for impairment at each reporting date. Impairment is recognised where there evidence of damage, disease, obsolescence, or a reduction in expected selling prices below cost.

An stock provision is recognised for cases where the realisable value from the sale of stock is estimated to be lower than the carrying value. The stocks provision is estimated considering various factors including age of the stock items, prevailing sales prices or items and losses associated with slow moving inventory items.

1.6
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 current liabilities.

GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 6 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Classification of 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 7 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
The accounting policy in respect of deferred tax follows the requirements of FRS19 - Deferred tax. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 8 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Stock valuation and impairment:

At each reporting date, stocks are reviewed for evidence of damage, obsolescence and slow-moving items and are stated at the lower of cost and net realisable value. Where the net realisable value of stocks is estimated to be lower than their cost, the stocks are written down accordingly and the resulting impairment loss is recognised in profit or loss. Any subsequent reversal of a write-down arising from an increase in net realisable value is recognised in profit or loss to the extent of the original impairment loss. Current year obsolete, damaged and slow-moving stock has been reviewed at the year end. Directors consider any required provision for the current year to be immaterial to the financial statements and accordingly, no provision has been recognised in respect of such stock.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
59
58
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2025
1,797,791
97,183
512,616
44,300
2,451,890
Additions
-
0
1,805
28,251
-
0
30,056
At 31 January 2026
1,797,791
98,988
540,867
44,300
2,481,946
Depreciation and impairment
At 1 February 2025
601,738
85,620
461,672
34,381
1,183,411
Depreciation charged in the year
32,579
3,342
40,361
2,480
78,762
At 31 January 2026
634,317
88,962
502,033
36,861
1,262,173
Carrying amount
At 31 January 2026
1,163,474
10,026
38,834
7,439
1,219,773
At 31 January 2025
1,196,053
11,563
50,944
9,919
1,268,479
GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 9 -
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,401
3,425
Amounts owed by group undertakings
809,523
603,791
Other debtors
56,899
87,761
867,823
694,977

Amounts owed by group undertakings are interest-free, unsecured and repayable on demand. The directors do not intend to request repayment of these balances within twelve months of the date of approval of the financial statements.

6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
-
0
64,930
Trade creditors
321,665
264,402
Amounts owed to group undertakings
276,569
203,919
Corporation tax
77,328
92,451
Other taxation and social security
94,806
108,971
Other creditors
24,580
23,106
794,948
757,779

Amount owed to the group undertakings are interest free, unsecured and repayable on demand.

There is a legal mortgage charge dated 25 November 2010 over the freehold property at Tenterden Garden Centre, Reading Street, Tenterden, Kent, TN30 7HT.

There is also a debenture charge dated 24 November 2010 securing all present and future obligations and liabilities of the company.

7
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
18,500
18,500
18,500
18,500
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
8
Audit report information
(Continued)
- 10 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 January 2026 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.

Senior Statutory Auditor:
Michael Barnett BA FCA
Statutory Auditor:
Richard Anthony
Date of audit report:
29 July 2026
9
Related party transactions

As at the balance sheet date, following amounts were outstanding with parent and fellow group entities,

Related parties | Receivable/ Payable | 2026 | 2025
Grovewell Garden Centres Limited | Payable | £309 | £309
Grovewell Canterbury Limited | Payable | £276,260 | £203,610
Grovewell Folkestone Limited | Receivable | £26,139 | £22,653
Grovewell Hamstreet Limited | Receivable | £783,387 | £581,137

Loan balances with the related parties are unsecured, interest-free, and repayable on demand.

During the year the company entered into the following sales and purchase transactions with the related parties.

Related parties | Sales 2026 | Sales 2025 | Purchase 2026 | Purchase 2025
Grovewell Canterbury Limited | £217,150 | £159,762 | £140,784 | £79,522
Grovewell Folkestone Limited | £134,417 | £126,054 | £17,189 | £16,191
Grovewell Hamstreet Limited | £301,064 | £248,360 | £75,215 | £71,829

Grovewell Tenterden Limited is a wholly owned subsidiary of the Grovewell Garden Centres Limited.

10
Parent company

The company is a wholly owned subsidiary of Grovewell Garden Centres Limited, which is registered in England and Wales.

GROVEWELL TENTERDEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
10
Parent company
(Continued)
- 11 -

E W Boult is considered as the ultimate controlling party of the company due to his shareholding and his ability to exercise significant control over the company business through his directorship.

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