H.T. Gardner Distribution Limited - Period Ending 2025-03-31

Registration number: 02789243

H.T. Gardner Distribution Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2025

H.T. Gardner Distribution Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 8
Statement of Comprehensive Income	9
Statement of Financial Position	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Financial Statements	13 to 23

H.T. Gardner Distribution Limited

Company Information

Directors

Mr Kevin Gardner

Mr Luke Gardner

Registered office

Unit 3
Bluewater Trading Estate
Bell Close, Plympton
Plymouth
Devon
PL7 4JH

Auditors

Westcotts (SW) LLP Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

H.T. Gardner Distribution Limited

Strategic Report for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

Fair review of the business

The principal activity of the Company continued to be the provision of road haulage services and associated warehousing.

A continued strong focus on customer service has enabled the Company to develop its customer base and provide an efficient and cost-effective service.

The directors report that turnover amounted to £21,717,073 an increase on the previous year (2024 £20,063,967). The accounts disclose a loss after tax of £298,741 compared to a loss of £443,852 in the previous year.

The net assets of the Company on 31st March 2025 are £1,371,018 compared to £1,669,759 for the previous year.

Principal risks and uncertainties

The directors continue to manage the company`s risk significantly in conjunction with the management of fuel consumption, drivers` wages and subcontractors` costs.

The directors closely monitor fuel prices, and strive to make fuel purchase policies where possible and keep vehicles well maintained to ensure maximum efficiency.

Due to the mobility of the driver market the company seeks to maintain driver/subcontractor satisfaction and training, which benefits all parties.

Financial risk mangement

The directors have in place a risk management programme that seeks to limit the adverse effects on the financial performance.

Enviromental and social matters

The company is aware of the impact of global warming and utilises a fleet of modern vehicles to Euro 6 standard.

Approved and authorised by the Board on 1 November 2025 and signed on its behalf by:

Mr Kevin Gardner
Director

H.T. Gardner Distribution Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors of the company

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

Mr Kevin Gardner

Mr Luke Gardner

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.

H.T. Gardner Distribution Limited

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. 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.

H.T. Gardner Distribution Limited

Independent Auditor's Report to the Members of H.T. Gardner Distribution Limited

Opinion

We have audited the financial statements of H.T. Gardner Distribution Limited (the 'company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, Statement of Financial Position, 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 31 March 2025 and of its loss 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.

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.

H.T. Gardner Distribution Limited

Independent Auditor's Report to the Members of H.T. Gardner Distribution Limited (continued)

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance
throughout the audit.

H.T. Gardner Distribution Limited

Independent Auditor's Report to the Members of H.T. Gardner Distribution Limited (continued)

•	The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation.
•	Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
	As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also:
•	Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
•	Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
•	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
	We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control.

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.

H.T. Gardner Distribution Limited

Independent Auditor's Report to the Members of H.T. Gardner Distribution Limited (continued)

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.

......................................
Adam Croney (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP, Statutory Auditor
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

1 November 2025

H.T. Gardner Distribution Limited

Statement of Comprehensive Income for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Turnover	3	21,717,073	20,063,967
Cost of sales		(19,723,379)	(18,273,847)
Gross profit		1,993,694	1,790,120
Administrative expenses		(2,366,936)	(2,313,864)
Operating loss	5	(373,242)	(523,744)
Other interest receivable and similar income		407	256
Interest payable and similar expenses	6	(67,558)	(29,585)
		(67,151)	(29,329)
Loss before tax		(440,393)	(553,073)
Tax on loss	10	141,652	109,221
Loss for the financial year		(298,741)	(443,852)

The above results were derived from continuing operations.

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

H.T. Gardner Distribution Limited

(Registration number: 02789243)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	11	8	8
Tangible assets	12	386,963	275,445
		386,971	275,453
Current assets
Stocks	13	33,396	19,725
Debtors	14	3,843,330	3,839,319
Cash at bank and in hand		34,339	726
		3,911,065	3,859,770
Creditors: Amounts falling due within one year	16	(2,918,175)	(2,370,313)
Net current assets		992,890	1,489,457
Total assets less current liabilities		1,379,861	1,764,910
Creditors: Amounts falling due after more than one year	16	(8,843)	(95,151)
Net assets		1,371,018	1,669,759
Capital and reserves
Called up share capital		9,600	9,600
Capital redemption reserve	19	400	400
Profit and loss account	19	1,361,018	1,659,759
Shareholders' funds		1,371,018	1,669,759

Approved and authorised by the Board on 1 November 2025 and signed on its behalf by:

.........................................
Mr Kevin Gardner
Director

H.T. Gardner Distribution Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

	Share capital £	Capital redemption reserve £	Profit and loss account £	Total £
At 1 April 2023	9,600	400	2,103,611	2,113,611
Loss for the year	-	-	(443,852)	(443,852)
At 31 March 2024	9,600	400	1,659,759	1,669,759

Share capital
£

Capital redemption reserve
£

Profit and loss account
£

Total
£

At 1 April 2024

9,600

400

1,659,759

1,669,759

Loss for the year

-

-

(298,741)

(298,741)

At 31 March 2025

9,600

400

1,361,018

1,371,018

H.T. Gardner Distribution Limited

Statement of Cash Flows for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Cash flows from operating activities
Loss for the year		(298,741)	(443,852)
Adjustments to cash flows from non-cash items
Depreciation and amortisation	5	48,836	41,814
Loss/(profit) on disposal of tangible assets	4	400	(4,740)
Finance income		(407)	(256)
Finance costs	6	67,558	29,585
Income tax expense	10	(141,652)	(109,221)
		(324,006)	(486,670)
Working capital adjustments
Increase in stocks	13	(13,671)	(19,725)
Decrease in debtors	14	137,641	58,674
Increase in creditors	16	597,862	420,589
Cash generated from operations		397,826	(27,132)
Income taxes paid	10	-	(3,212)
Net cash flow from operating activities		397,826	(30,344)
Cash flows from investing activities
Interest received		407	256
Acquisitions of tangible assets		(163,754)	(32,634)
Proceeds from sale of tangible assets		3,000	10,840
Net cash flows from investing activities		(160,347)	(21,538)
Cash flows from financing activities
Interest paid	6	(67,558)	(29,585)
Repayment of bank borrowing		(125,000)	(50,000)
Payments to finance lease creditors		(11,308)	(19,290)
Net cash flows from financing activities		(203,866)	(98,875)
Net increase/(decrease) in cash and cash equivalents		33,613	(150,757)
Cash and cash equivalents at 1 April		726	151,483
Cash and cash equivalents at 31 March		34,339	726

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
Unit 3
Bluewater Trading Estate
Bell Close, Plympton
Plymouth
Devon
PL7 4JH

Principal activity

The principal activity of the company is the provision of road haulage services and associated warehousing.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

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 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.

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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Short leasehold property	15% reducing balance
Fixtures, fittings and equipment	15% reducing balance
Plant and machinery	15% reducing balance
Computer equipment	15% straight line
Motor vehicles	15% reducing balance

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Turnover

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

	2025 £	2024 £
Transport services	21,717,040	20,063,967
Dividends received	33	-
	21,717,073	20,063,967

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4	Other gains and losses

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

	2025 £	2024 £
(Loss)/gain on disposal of tangible assets	(400)	4,740

5	Operating loss

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	48,836	41,814
Operating lease expense - plant and machinery	146,466	160,772
Loss/(profit) on disposal of property, plant and equipment	400	(4,740)

6	Interest payable and similar expenses

	2025 £	2024 £
Interest on bank overdrafts and borrowings	66,312	27,766
Interest on obligations under finance leases and hire purchase contracts	1,246	1,819
	67,558	29,585

7	Staff costs

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

	2025 £	2024 £
Wages and salaries	7,554,277	6,659,177
Social security costs	717,257	641,232
Pension costs, defined contribution scheme	140,436	128,652
Other post-employment benefit costs	7,790	7,852
Other employee expense	27,450	6,837
	8,447,210	7,443,750

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

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

7	Staff costs (continued)

	2025 No.	2024 No.
Production	180	168
Administration and support	25	26
	205	194

8	Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	47,333	44,000
Contributions paid to money purchase schemes	5,000	5,079
	52,333	49,079

9	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	7,450	7,140

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Taxation

Tax charged/(credited) in the statement of comprehensive income

	2025 £	2024 £
Deferred taxation
Arising from origination and reversal of timing differences	(141,652)	(109,221)

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 19%).

The differences are reconciled below:

	2025 £	2024 £
Loss before tax	(440,393)	(553,073)
Corporation tax at standard rate	(110,098)	(105,084)
Tax increase/(decrease) from effect of capital allowances and depreciation	1,108	(4,137)
Deferred tax credit relating to changes in tax rates	(32,662)	-
Total tax credit	(141,652)	(109,221)

Deferred tax

Deferred tax assets and liabilities

2025	Asset £	Liability £
Accelerated capital allowances	-	64,063
Pension plan obligations	7,161	-
Tax losses carried forward	301,983	-
	309,144	64,063

2024	Asset £	Liability £
Accelerated capital allowances	-	44,538
Pension plan obligations	4,945	-
Tax losses carried forward	143,023	-
	147,968	44,538

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

11	Intangible assets

Goodwill
£

Total
£

Cost or valuation

At 1 April 2024

8

8

At 31 March 2025

8

8

Amortisation

Carrying amount

At 31 March 2025

8

8

At 31 March 2024

8

8

12

Tangible assets

Short leasehold property
£

Fixtures, fittings and equipment
£

Plant and machinery
£

Computer equipment
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 April 2024

48,309

162,974

268,024

135,049

81,823

696,179

Additions

111,605

2,734

39,522

9,893

-

163,754

Disposals

-

-

-

-

(20,000)

(20,000)

At 31 March 2025

159,914

165,708

307,546

144,942

61,823

839,933

Depreciation

At 1 April 2024

22,989

81,996

149,581

129,060

37,108

420,734

Charge for the year

12,788

12,172

14,364

3,314

6,198

48,836

Eliminated on disposal

-

-

-

-

(16,600)

(16,600)

At 31 March 2025

35,777

94,168

163,945

132,374

26,706

452,970

Carrying amount

At 31 March 2025

124,137

71,540

143,601

12,568

35,117

386,963

At 31 March 2024

25,320

80,978

118,443

5,989

44,715

275,445

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Stocks

	2025 £	2024 £
Finished goods and goods for resale	33,396	19,725

Debtors

Current	Note	2025 £	2024 £
Trade debtors		3,424,337	3,665,841
Other debtors		173,912	70,049
Deferred tax assets	10	245,081	103,429
		3,843,330	3,839,319

15	Cash and cash equivalents

	2025 £	2024 £
Cash on hand	-	49
Cash at bank	34,339	677
	34,339	726

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	20	11,308	61,308
Trade creditors		1,404,507	1,639,972
Amounts due to related parties		-	9,325
Social security and other taxes		358,256	338,864
Other payables		1,144,104	320,844
		2,918,175	2,370,313
Due after one year
Loans and borrowings	20	8,843	95,151

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

17	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 £140,436 (2024 - £128,652).

18	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	9,600	9,600	9,600	9,600

Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.

20	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £

Bank borrowings	-	75,000
Finance lease liabilities	8,843	20,151
	8,843	95,151

Current loans and borrowings

	2025 £	2024 £

Bank borrowings	-	50,000
Finance lease liabilities	11,308	11,308
	11,308	61,308

H.T. Gardner Distribution Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

21	Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	11,308	11,308
Later than one year and not later than five years	8,843	20,151
	20,151	31,459

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	95,420	100,170

	Goodwill £	Total £
Cost or valuation
At 1 April 2024	8	8
At 31 March 2025	8	8
Amortisation
Carrying amount
At 31 March 2025	8	8
At 31 March 2024	8	8

	Short leasehold property £	Fixtures, fittings and equipment £	Plant and machinery £	Computer equipment £	Motor vehicles £	Total £
Cost or valuation
At 1 April 2024	48,309	162,974	268,024	135,049	81,823	696,179
Additions	111,605	2,734	39,522	9,893	-	163,754
Disposals	-	-	-	-	(20,000)	(20,000)
At 31 March 2025	159,914	165,708	307,546	144,942	61,823	839,933
Depreciation
At 1 April 2024	22,989	81,996	149,581	129,060	37,108	420,734
Charge for the year	12,788	12,172	14,364	3,314	6,198	48,836
Eliminated on disposal	-	-	-	-	(16,600)	(16,600)
At 31 March 2025	35,777	94,168	163,945	132,374	26,706	452,970
Carrying amount
At 31 March 2025	124,137	71,540	143,601	12,568	35,117	386,963
At 31 March 2024	25,320	80,978	118,443	5,989	44,715	275,445