NV Produce Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05384719 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2017

for

NV Produce Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Donohoe

P A M Zwinkels

M R Zwinkels

REGISTERED OFFICE:

Leythorne Nurseries

Vinnetrow Road

Runcton

Chichester

West Sussex

PO20 1QB

REGISTERED NUMBER:

05384719 (England and Wales)

ACCOUNTANTS:

Sigma Partners

Gloucester House

Church Walk

Burgess Hill

West Sussex

RH15 9AS

FIXED ASSETS

Tangible assets

4

126

168

CURRENT ASSETS

Stocks

2,078

2,540

Debtors

5

427,419

258,073

Cash at bank

-

1,414

429,497

262,027

CREDITORS

Amounts falling due within one year

6

349,473

222,571

NET CURRENT ASSETS

80,024

39,456

TOTAL ASSETS LESS CURRENT LIABILITIES

80,150

39,624

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

79,150

38,624

SHAREHOLDERS' FUNDS

80,150

39,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 12th September 2018 and were signed on its behalf by:

P A M Zwinkels - Director

M Donohoe - Director

1.	STATUTORY INFORMATION

NV 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2017

and 31st December 2017

709

DEPRECIATION

At 1st January 2017

541

Charge for year

42

At 31st December 2017

583

NET BOOK VALUE

At 31st December 2017

126

At 31st December 2016

168

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

235,250

166,799

Other debtors

192,169

91,274

427,419

258,073

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

4

-

Trade creditors

254,381

170,633

Taxation and social security

22,831

13,988

Other creditors

72,257

37,950

349,473

222,571

7.	RELATED PARTY DISCLOSURES

Undertaking

Nature of Relationship

Sales to

Purchases from

Debtor balance

Creditor balance

Madestein (UK) Ltd

Associated Co

385,770

3,832,648

-

19,770

NV Transport Ltd

Associated Co

2,431

-

1,939

33

Lettuce Online Ltd Associated Co 1,840,614 948 63,002

130

Management charges/overheads recharged were charged from:

Fresh Willow Ltd £143,001

The following inter company loans existed at the balance sheet date.

Fresh Willow Ltd £66,359

Lettuce Online Ltd £-190,495

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be Mr & Mrs P Zwinkels.