Country Fresh Produce Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09180572 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2022

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

225,000

243,000

Tangible assets

5

447,135

430,637

672,135

673,637

CURRENT ASSETS

Stocks

37,750

37,125

Debtors

6

205,426

186,343

Cash at bank and in hand

18,786

466

261,962

223,934

CREDITORS

Amounts falling due within one year

7

249,800

346,517

NET CURRENT ASSETS/(LIABILITIES)

12,162

(122,583

)

TOTAL ASSETS LESS CURRENT LIABILITIES

684,297

551,054

CREDITORS

Amounts falling due after more than one year

8

(360,306

)

(469,566

)

PROVISIONS FOR LIABILITIES

(84,956

)

(41,870

)

NET ASSETS

239,035

39,618

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

238,435

39,018

SHAREHOLDERS' FUNDS

239,035

39,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 and authorised for issue on 22nd December 2022 and were signed on its behalf by:

Mr P 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.

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2021 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2021

and 31st March 2022

360,000

AMORTISATION

At 1st April 2021

117,000

Charge for year

18,000

At 31st March 2022

135,000

NET BOOK VALUE

At 31st March 2022

225,000

At 31st March 2021

243,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2021

961,906

Additions

194,626

Disposals

(179,997

)

At 31st March 2022

976,535

DEPRECIATION

At 1st April 2021

531,269

Charge for year

55,602

Eliminated on disposal

(57,471

)

At 31st March 2022

529,400

NET BOOK VALUE

At 31st March 2022

447,135

At 31st March 2021

430,637

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

172,879

165,098

Other debtors

32,547

21,245

205,426

186,343

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

172,935

Trade creditors

47,472

79,551

Taxation and social security

26,239

4,653

Other creditors

176,089

89,378

249,800

346,517

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

110,290

Other creditors

360,306

359,276

360,306

469,566

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

3,334

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank overdraft

-

113,819

Bank loan

-

119,406

-

233,225

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

In the year ended 31st March 2021, there was bank loan of £50,000 on which no security had been provided, this was repaid in full during the year ended 31st March 2022.

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 (2021 - nil).

Mr P Coxhead and Mr P J Coxhead are also directors of Evergreen Nurseries Limited. As at the year end, the company owed Evergreen Nurseries Limited £20,877 in the form of a loan, no interest was charged. (2021 - £28,949 and nil).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Coxhead.