Plants Direct (South West) Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 11

Plants Direct (South West) Limited

(Registration number: 04499548)
Statement of Financial Position as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	122,925	109,596
Current assets
Stocks	6	12,855	8,959
Debtors	7	58,569	51,429
Cash at bank and in hand		35,416	61,238
		106,840	121,626
Creditors: Amounts falling due within one year	8	(89,761)	(75,403)
Net current assets		17,079	46,223
Total assets less current liabilities		140,004	155,819
Creditors: Amounts falling due after more than one year	8	(31,823)	(43,276)
Provisions for liabilities		(29,775)	(27,399)
Net assets		78,406	85,144
Capital and reserves
Called up share capital		1,000	1,000
Capital redemption reserve		1	1
Profit and loss account		77,405	84,143
Shareholders' funds		78,406	85,144

Plants Direct (South West) Limited

(Registration number: 04499548)
Statement of Financial Position as at 31 July 2025 (continued)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 12 November 2025 and signed on its behalf by:
 

Mr S Miller Director

Mr M S Weymouth Director

Plants Direct (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

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

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is the wholesale of plants.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Judgements and key sources of estimation uncertainty

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.

Revenue recognition

Turnover represents the total value of plant sales, excluding value added tax to customers during the year.

Plants Direct (South West) Limited

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

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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
Long leasehold property	15% reducing balance
Fittings fixtures and equipment	15% reducing balance
Motor vehicles	25% reducing balance

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.

Plants Direct (South West) Limited

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

2	Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten 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:

Asset class	Amortisation method and rate
Goodwill	20 years straight line

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.

Plants Direct (South West) Limited

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

2	Accounting policies (continued)

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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.

Plants Direct (South West) Limited

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

2	Accounting policies (continued)

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 7).

Plants Direct (South West) Limited

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

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 August 2024	52,000	52,000
At 31 July 2025	52,000	52,000
Amortisation
At 1 August 2024	52,000	52,000
At 31 July 2025	52,000	52,000
Carrying amount
At 31 July 2025	-	-

5	Tangible assets

	Long leasehold property £	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	17,332	154,759	121,404	293,495
Additions	-	45,600	4,250	49,850
Disposals	-	(19,770)	-	(19,770)
At 31 July 2025	17,332	180,589	125,654	323,575
Depreciation
At 1 August 2024	15,690	107,637	60,572	183,899
Charge for the year	246	13,667	16,270	30,183
Eliminated on disposal	-	(13,432)	-	(13,432)
At 31 July 2025	15,936	107,872	76,842	200,650
Carrying amount
At 31 July 2025	1,396	72,717	48,812	122,925
At 31 July 2024	1,642	47,122	60,832	109,596

Plants Direct (South West) Limited

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

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	12,855	8,959

7

Debtors

	2025 £	2024 £
Trade debtors	55,824	45,408
Other debtors	419	5,500
Prepayments	2,326	521
	58,569	51,429

Plants Direct (South West) Limited

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		24,998	19,879
Trade creditors		23,381	21,170
Taxation and social security		10,152	12,865
Accruals and deferred income		6,530	6,318
Other creditors		24,700	15,171
		89,761	75,403

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £16,207 (2024 - £9,879).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		31,823	43,276

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £31,823 (2024 - £34,208).

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Plants Direct (South West) Limited

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

10	Related party transactions

Transactions with directors

2025	At 1 August 2024 £	Advances to director £	Repayments by director £	At 31 July 2025 £
Directors	(2,988)	65,053	(86,370)	(24,305)

2024	At 1 August 2023 £	Advances to director £	At 31 July 2024 £
Directors	(42,329)	39,342	(2,988)