Country Fresh Produce Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09180572 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2019

for

Country Fresh Produce Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Coxhead

Mr P J Coxhead

Mr D C Coxhead

Mr D T Coxhead

Mrs T Coxhead

REGISTERED OFFICE:

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

REGISTERED NUMBER:

09180572 (England and Wales)

ACCOUNTANTS:

Robin Oatridge & Co Limited

Chartered Certified Accountants

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

FIXED ASSETS

Intangible assets

4

279,000

297,000

Tangible assets

5

528,054

598,383

807,054

895,383

CURRENT ASSETS

Stocks

31,750

30,550

Debtors

6

120,107

132,954

Cash in hand

-

233

151,857

163,737

CREDITORS

Amounts falling due within one year

7

399,432

397,800

NET CURRENT LIABILITIES

(247,575

)

(234,063

)

TOTAL ASSETS LESS CURRENT LIABILITIES

559,479

661,320

CREDITORS

Amounts falling due after more than one year

8

(487,961

)

(589,641

)

PROVISIONS FOR LIABILITIES

(42,640

)

(45,477

)

NET ASSETS

28,878

26,202

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

28,278

25,602

SHAREHOLDERS' FUNDS

28,878

26,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21st November 2019 and were signed on its behalf by:

Mr P J Coxhead - Director

1.	STATUTORY INFORMATION

Country Fresh Produce Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and Straight line over 20 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2018 - 38 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2018

and 31st March 2019

360,000

AMORTISATION

At 1st April 2018

63,000

Charge for year

18,000

At 31st March 2019

81,000

NET BOOK VALUE

At 31st March 2019

279,000

At 31st March 2018

297,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2018

907,987

Additions

18,250

Disposals

(7,200

)

At 31st March 2019

919,037

DEPRECIATION

At 1st April 2018

309,604

Charge for year

83,770

Eliminated on disposal

(2,391

)

At 31st March 2019

390,983

NET BOOK VALUE

At 31st March 2019

528,054

At 31st March 2018

598,383

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st April 2018

and 31st March 2019

92,750

DEPRECIATION

At 1st April 2018

13,913

Charge for year

11,826

At 31st March 2019

25,739

NET BOOK VALUE

At 31st March 2019

67,011

At 31st March 2018

78,837

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

106,469

113,951

Other debtors

13,638

19,003

120,107

132,954

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

265,022

170,754

Hire purchase contracts

17,100

17,100

Trade creditors

71,131

136,577

Taxation and social security

5,007

10,192

Other creditors

41,172

63,177

399,432

397,800

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

172,659

221,376

Hire purchase contracts

-

17,100

Other creditors

315,302

351,165

487,961

589,641

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

27,577

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

216,572

122,304

Bank loans

221,109

269,826

Hire purchase contracts

17,100

34,200

454,781

426,330

The bank overdraft and loan are secured by a fixed and floating charge over the assets of the company.

10.	RELATED PARTY DISCLOSURES

The company trades from land and buildings owned by Mr P Coxhead, Mr P J Coxhead and Mrs T Coxhead and

no rent is charged (2018 - nil).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Coxhead.