Pride of Anglia Growers Limited - Period Ending 2023-06-30
Pride of Anglia Growers Limited - Period Ending 2023-06-30
Registration number:
Pride of Anglia Growers Limited
for the Year Ended 30 June 2023
Pride of Anglia Growers Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Pride of Anglia Growers Limited
Company Information
Directors |
R D Arundel E S Arundel B W Kerr |
Registered office |
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Pride of Anglia Growers Limited
(Registration number: 00961607)
Balance Sheet as at 30 June 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
- |
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Current assets |
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Stocks |
- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
35,715 |
35,715 |
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Share premium reserve |
79,291 |
79,291 |
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Retained earnings |
548,709 |
144,249 |
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Shareholders' funds |
663,715 |
259,255 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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 Profit and Loss Account.
Approved and authorised by the
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Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 00961607.
The address of its registered office is:
These financial statements cover the individual entity, Pride of Anglia Growers Limited.
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 including Section 1A - 'The Financial Reporting Standard applicable in the UK 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 presented in sterling which is the functional currency of the company and rounded to the nearest pound.
Audit report
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 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.
Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
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 over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% straight line per annum |
Motor vehicles |
15% reducing balance |
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 |
Website |
33% straight line per annum |
Investments
Investments in Associates are measured under cost accounting rules. Investments are recorded at cost less any provision for impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, 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.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods 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.
Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
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 profit and loss account 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.
Leases
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 balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the Company during the year, was
Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
Intangible assets |
Website |
Total |
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Cost or valuation |
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At 1 July 2022 |
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At 30 June 2023 |
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Amortisation |
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At 1 July 2022 |
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At 30 June 2023 |
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Carrying amount |
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At 30 June 2023 |
- |
- |
At 30 June 2022 |
- |
- |
Tangible assets |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2022 |
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Additions |
- |
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Disposals |
- |
( |
( |
At 30 June 2023 |
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Depreciation |
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At 1 July 2022 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
( |
At 30 June 2023 |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
Investments |
2023 |
2022 |
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Investments in associates |
- |
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Associates |
£ |
Cost |
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At 1 July 2022 |
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Disposals |
( |
At 30 June 2023 |
- |
Carrying amount |
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At 30 June 2023 |
- |
At 30 June 2022 |
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Stocks |
2023 |
2022 |
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Other inventories |
- |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments and accrued income |
- |
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Other debtors |
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Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to Group undertakings and undertakings in which the Company has a participating interest |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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- |
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Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Creditors include net obligations under finance lease and hire purchase contracts which are secured of £12,774 (2022 - £4,666).
Creditors include net obligations under finance lease and hire purchase contracts which are secured of £12,625 (2022 - £6,997).
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Hire purchase and finance lease liabilities |
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2023 |
2022 |
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Current loans and borrowings |
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Hire purchase and finance lease liabilities |
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Share capital |
Alloted, called up and fully paid shares |
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £1 each |
35,715 |
35,715 |
35,715 |
35,715 |
Pride of Anglia Growers Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
Relationship between entity and parents |
The parent of the largest group in which these financial statements are consolidated is
The address of Arundel Kerr Produce Limited is:
Pegasus Road,
Elsham Wold Industrial Estate,
Elsham,
Brigg,
North Lincolnshire,
DN20 0SQ.