Company registration number: 00549258
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE PERIOD ENDED 29 MARCH 2026
Period ended 29th March 2026.
The Directors have complied with the requirements of S172 of the Companies Act 2006.
The Directors have complied with the requirements of S172 of the Companies Act 2006.
The Board were slightly disappointed with the year end results, although it was forecast following the 3rd quarter, which produced a similar return to that of the prior year. With spring arriving early in 2025 achieving targets for the last quarter of 2026 were always going to be a challenge in the garden centres.
The new 1000 sqm of covered area for plants at Esher was finished at the end of October 2025, and within budget.
At Titchfield negotiations began with a footwear supplier to take over the vacated building, on an Exclusive Lease basis. This was finalised and, as of May 2026, the area has undergone an extensive shop fit and trading has commenced from the building.
During this financial year the restaurants at both Esher and Titchfield were brought in house. This involved the TUPE of staff from the incumbent business and denoted a significant increase in employee numbers. The management team remain in place and will be reviewing options as to how we can develop our catering offer at both sites over the next year.
On the farm, organised events are gaining momentum with the Halloween event being increasingly more popular and of significant financial importance to the success of the farm. The Maize Maze was successful and will be repeated in 2026 and new potential event opportunities will be explored for both sites.
The Farm shops at both sites had a very strong Christmas quarter and we were particularly impressed with how the new layout at Esher performed within the grocery department. Fresh produce and dairy continue to be a challenge.
For the forthcoming year, we will continue to look at measures of how we can improve our gross margin, and reducing wastage across the business remains a specific focus. We will continue to explore the options available to us for a storage solution and an increased indoor dining area at our Titchfield site.
The new 1000 sqm of covered area for plants at Esher was finished at the end of October 2025, and within budget.
At Titchfield negotiations began with a footwear supplier to take over the vacated building, on an Exclusive Lease basis. This was finalised and, as of May 2026, the area has undergone an extensive shop fit and trading has commenced from the building.
During this financial year the restaurants at both Esher and Titchfield were brought in house. This involved the TUPE of staff from the incumbent business and denoted a significant increase in employee numbers. The management team remain in place and will be reviewing options as to how we can develop our catering offer at both sites over the next year.
On the farm, organised events are gaining momentum with the Halloween event being increasingly more popular and of significant financial importance to the success of the farm. The Maize Maze was successful and will be repeated in 2026 and new potential event opportunities will be explored for both sites.
The Farm shops at both sites had a very strong Christmas quarter and we were particularly impressed with how the new layout at Esher performed within the grocery department. Fresh produce and dairy continue to be a challenge.
For the forthcoming year, we will continue to look at measures of how we can improve our gross margin, and reducing wastage across the business remains a specific focus. We will continue to explore the options available to us for a storage solution and an increased indoor dining area at our Titchfield site.
Cash in the bank remains at a very comfortable level. We continue to deposit money in the treasury reserve account on a short-term fix, due to the favourable interest rates.
Garsons is synonymous with quality, and the business prides itself on its extremely high levels of customer service. Internal and external audits are carried out to ensure standards meet expectations on merchandising, hygiene and customer satisfaction.
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STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 MARCH 2026
The Company aims to be an equal opportunities employer and undertakes to apply objective criteria to assess merit. It aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of race, colour, national or ethnic origins, sex, marital status, sexual orientation or perceived sexuality, disability, membership, or non-membership of trade union, "spent convictions" of ex-offenders, class, age, politics, religion, or belief. For the Equal Opportunities Policy to be fully effective, the responsibility for ensuring adherence to its terms lies with the Directors. It is also the responsibility of each manager and all supervisory staff to actively promote equality of opportunity within their own programmes and areas of responsibility.
We continue to reward colleagues who perform above and beyond expectation, offering opportunity to those who wish to progress. Our annual review program enables us to effectively identify strengths and weaknesses of colleagues for reward and development purposes. We continued to develop our colleague wellbeing program and offer perks through our health care provider. Our health and safety policy remains clearly laid out and is updated and communicated effectively throughout the year. The success of this is reflective in our colleague turnover figures.
We continue to reward colleagues who perform above and beyond expectation, offering opportunity to those who wish to progress. Our annual review program enables us to effectively identify strengths and weaknesses of colleagues for reward and development purposes. We continued to develop our colleague wellbeing program and offer perks through our health care provider. Our health and safety policy remains clearly laid out and is updated and communicated effectively throughout the year. The success of this is reflective in our colleague turnover figures.
The company goal is to create a cohesive communication ecosystem where information flows freely and all colleagues are informed, engaged and empowered. To this end we ensure that regular meetings are held at all levels of the business with feedback platforms in place. The monthly company newsletter provides a valuable communication tool. The Directors have an open door policy and are involved in the day to day running of the business.
Having partnered with Planet Mark over the last few years to ensure we continue to develop our “green credentials” we felt that it was time to continue with our own strategy. Our company focus group, made up of colleagues; meet during the year to discuss ongoing projects and set realistic targets for improvement. We continue to work with and try to source local food suppliers at both our sites. We continue to work closely with our resident beekeeper to explore new opportunities and ensure that we make the most of this USP.
Principal risks and uncertainty
The government continues to show a lack of support for small business. The changes around IHT and BPR were followed by another above inflationary increase to the Living Wage and a rise in Employers National Insurance in April 2026. We continue to look at ways to mitigate this, and other ever increasing overhead costs, whilst trying not to reduce colleague numbers.
Once again, events going on in the world have an impact on our business with the continued conflict in the Middle East and the war in the Ukraine restricting movement of goods and creating a lot of uncertainty within the economy.
The British climate continues to be the biggest single factor affecting our business and with the extreme weather becoming the norm we will need to future proof ourselves against this adversity.
Principal risks and uncertainty
The government continues to show a lack of support for small business. The changes around IHT and BPR were followed by another above inflationary increase to the Living Wage and a rise in Employers National Insurance in April 2026. We continue to look at ways to mitigate this, and other ever increasing overhead costs, whilst trying not to reduce colleague numbers.
Once again, events going on in the world have an impact on our business with the continued conflict in the Middle East and the war in the Ukraine restricting movement of goods and creating a lot of uncertainty within the economy.
The British climate continues to be the biggest single factor affecting our business and with the extreme weather becoming the norm we will need to future proof ourselves against this adversity.
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE PERIOD ENDED 29 MARCH 2026
The Directors present their report and the financial statements for the period ended 29 March 2026.
The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the period, after taxation, amounted to £191,804 (2025 - £259,079).
An ordinary final dividend was paid amounting to £180,000 (2025 - £180,000).
The Directors who served during the year were:
The Company has chosen, in accordance with Section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, to set out within the Company's Strategic Report Information Required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008. This includes information that would have been included in the business review and details of the principal risks and uncertainties.
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DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 MARCH 2026
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THOMPSON BROS. (ESHER) LIMITED
We have audited the financial statements of Thompson Bros. (Esher) Limited (the 'Company') for the period ended 29 March 2026, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THOMPSON BROS. (ESHER) LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the 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 or the Directors' Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THOMPSON BROS. (ESHER) LIMITED (CONTINUED)
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.
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 Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant:
−The Companies Act 2006;
−Financial Reporting Standard 102;
−UK employment legislation;
−UK health and safety legislation;
−General Data Protection Regulations; and
−UK tax legislation.
∙We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
∙We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of board minutes.
∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
∙We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
−Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
−Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
−Challenging assumptions and judgements made by management in its significant accounting estimates; and
−Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
−Posting of journals to the accounting software which are of a non-routine nature in terms of timing and amount;
−The nature of the business's staffing structure increasing the potential for false employees to be included in the payroll;
−A high volume of frequent cash transactions increasing the potential for low values of cash to be misappropriated;
−Timing of revenue recognition; and
−The use of management override of controls to manipulate results, or to cause the Company to enter into transactions not in its best interests.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THOMPSON BROS. (ESHER) LIMITED (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
2nd Floor, Origin One
108 High Street
RH10 1BD
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 29 MARCH 2026
Page 9
STATEMENT OF FINANCIAL POSITION
AS AT 29 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 27 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 MARCH 2026
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STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 29 MARCH 2026
Page 12
ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 29 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
Thompson Bros. (Esher) Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The principal place of business is Garson Farm, Winterdown Road, Esher, Surrey, KT10 8LS.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rental income is recognised over the period for which the property is let and to the extent that it is probable that the economic benefits associated with the transaction will flow to the entity.
Commission fee income is recognised over the period for which the services are delivered and to the extent that it is probable that the economic benefits associated with the transaction will flow to the entity.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
No depreciation is provided on assets under construction as these comprise capital expenditure on assets which are not yet in the location or condition necessary for use.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
2.Accounting policies (continued)
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.
The work in progress in relation to crops is valued to include the cost of plants and sprays required to grow and is estimated based on cost per hectare. Once the crop is harvested, depreciation begins for the life of the crop, estimated based on prior knowledge of the crop. Any annual cultivation costs are added, again based on average requirement per hectare based on prior knowledge.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The Directors use judgement in determining the fair value of the Company's properties, which are carried at fair value determined annually by internal valuers, and external valuers on occasion. Each year the Directors assess the condition of each property and the context of the wider property market to determine whether an external valuation is required. Where an external valuation is not required, the Directors complete their own valuation based on their understanding of the property market and other relevant factors.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
Page 19
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
10.Taxation (continued)
There were no factors that may affect future tax charges.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
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Revaluation reserve
Profit and loss account
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £19,866 (2025 - £15,840) were payable to the fund at the reporting date and are included in creditors.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2026
The Directors are of the opinion there is no one controlling party.
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