1.
General Information
Victoria Farm Garden Centre Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
04917198
. The registered office is Victoria Farm Garden Centre, Guisborough Road, Whitby, North Yorkshire, YO21 1TL.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding VAT, discounts, rebates and other similar allowances.
2.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7.
Taxation
2.7.
Taxation - continued
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Victoria Farm Garden Centre Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.
Turnover
An analysis of turnover by class of business is given below:
|
31.01.26
|
31.01.25
|
|
|
£
|
£
|
|
|
Whitby Garden Centre
|
583,107
|
608279
|
|
Selby Garden Centre
|
1,193,135
|
1,203,946
|
|
Whitby Cafe
|
599,337
|
544,112
|
|
Selby Restaurant
|
1,377,724
|
1,273,179
|
|
Caravan rents
|
78,397
|
71,145
|
|
Caravan electric recharged
|
8,315
|
11,444
|
|
Holiday cottages income
|
146,882
|
147,136
|
|
Commission on vouchers
|
6,669
|
6,579
|
|
Own consumption
|
2,700
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
2,700
|
|
3,996,266
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
3,868,520
|
4.
Other Operating Income
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Rental income |
|
|
|
| Other operating income |
|
|
|
| 12,459 | 2,427 | ||
5.
Operating Profit
The operating profit is stated after charging:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
Victoria Farm Garden Centre Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
6.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
8.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| Directors |
|
|
|
| Other staff |
|
|
|
|
|
|
||
9.
Directors' remuneration
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
The total Directors salaries paid to the three directors for the period was £129,648
Two of the Directors had pension contributions paid by the company during the year. The total Directors pension
contributions paid during the year was £120,000. Last year, the two directors had total pension contributions of
£120,000.
Victoria Farm Garden Centre Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
10.
Interest Receivable and Similar Income
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest received |
|
|
|
| Statutory interest received |
|
|
|
| 26,540 | 19,045 | ||
11.
Interest Payable and Similar Charges
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Other finance charges |
|
|
|
| 843 | 11,867 | ||
12.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2026 | 2025 | |||
|---|---|---|---|---|---|
| 2026 | 2025 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2026 | 2025 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 400,027 | 273,258 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
( |
( |
|||
| Deferred tax from unrecognised tax loss or credit |
( |
|
|||
| Total tax charge for the period | 143,802 | 159,888 | |||
Victoria Farm Garden Centre Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
13.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 February 2025 |
|
||
| As at 31 January 2026 |
|
||
| Amortisation | |||
| As at 1 February 2025 |
|
||
| Provided during the period |
|
||
| As at 31 January 2026 |
|
||
| Net Book Value | |||
| As at 31 January 2026 |
|
||
| As at 1 February 2025 |
|
||
14.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Freehold | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 February 2025 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
( |
|
|
( |
| As at 31 January 2026 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 February 2025 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
( |
|
|
( |
| As at 31 January 2026 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 January 2026 |
|
|
|
|
|
| As at 1 February 2025 |
|
|
|
|
|
15.
Stocks
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
Victoria Farm Garden Centre Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
16.
Debtors
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Directors' loan accounts | - |
|
|
|
|
|
||
17.
Creditors: Amounts Falling Due Within One Year
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts | - |
|
|
| Other creditors | 25,113 | 28,755 | |
| Corporation tax |
|
|
|
| Taxation and social security | 150,876 | 123,222 | |
| Accruals and deferred income | 46,958 | 36,110 | |
|
|
|
||
The operating lease figure comprises of annual storage costs of £36,000. The storage costs are expected to stay
the same next year.
18.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 203,506 | 211,278 | |
19.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 February 2025 |
|
211,278 |
| Utilised |
( |
(7,772) |
| Balance at 31 January 2026 |
|
203,506 |
Victoria Farm Garden Centre Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
21.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 February 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 January 2026 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mrs Jean Noble |
|
|
|
- |
|
The above loan is unsecured, interest free and repayable on demand.
22.
Dividends
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
23.
Related Party Disclosures
The company loaned money in the last financial period (YE Jan-25) to Dean Hall Minerals Limited, who share the same directors. The amount owed to the company at the year end date was £1,648 (2025 = £1,648). The loan is repayable on demand and interest free.
The storage costs (under operating leases in note 17) arise from rent charges on the land used for storage, which belongs to the directors.
Included in creditors is a total of £19,587 (2025: £23,382) due to company directors. There are no formal repayments terms for the directors' current accounts, which are classified as repayable on demand, and are interest free.
During the year, one of the Director's sold a property to business for £165,000.