Company Registration No. 03458796 (England and Wales)
Glen Avon Growers Limited
Unaudited accounts
for the year ended 31 December 2021
Glen Avon Growers Limited
Unaudited accounts
Contents
Glen Avon Growers Limited
Statement of financial position
as at 31 December 2021
Tangible assets
3,339,938
3,430,455
Inventories
139,092
142,244
Cash at bank and in hand
4,010
4,169
Creditors: amounts falling due within one year
(631,949)
(1,101,929)
Net current assets
449,042
136,268
Total assets less current liabilities
3,790,015
3,567,758
Creditors: amounts falling due after more than one year
(500,727)
(294,331)
Provisions for liabilities
Deferred tax
(221,812)
(228,708)
Net assets
3,067,476
3,044,719
Called up share capital
100
100
Revaluation reserve
1,393,458
1,393,458
Profit and loss account
1,673,918
1,651,161
Shareholders' funds
3,067,476
3,044,719
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 July 2022 and were signed on its behalf by
D.Schellingerhout
Director
Company Registration No. 03458796
Glen Avon Growers Limited
Notes to the Accounts
for the year ended 31 December 2021
Glen Avon Growers Limited is a private company, limited by shares, registered in England and Wales, registration number 03458796. The registered office is Glen Avon, Park Lane, Cottingham, East Yorkshire, HU16 5RX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Plant & machinery
15% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Glen Avon Growers Limited
Notes to the Accounts
for the year ended 31 December 2021
Investments in shares are included at fair value.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2021
2,376,581
2,447,681
16,061
12,625
4,852,948
Additions
5,314
177,382
-
3,369
186,065
Disposals
-
(24,992)
-
-
(24,992)
At 31 December 2021
2,381,895
2,600,071
16,061
15,994
5,014,021
At 1 January 2021
227,660
1,171,289
10,920
12,624
1,422,493
Charge for the year
45,532
218,066
771
1,123
265,492
On disposals
-
(13,902)
-
-
(13,902)
At 31 December 2021
273,192
1,375,453
11,691
13,747
1,674,083
At 31 December 2021
2,108,703
1,224,618
4,370
2,247
3,339,938
At 31 December 2020
2,148,921
1,276,392
5,141
1
3,430,455
Carrying amount of land and buildings on cost basis
988,437
-
Included in Land & Buildings is Land of £105,314 which is not depreciated.
The fair value of the company's greenhouses was revalued on 31st December 2012. An independent valuer was not involved.
5
Investments
Other investments
Valuation at 1 January 2021
1,035
Valuation at 31 December 2021
1,035
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
129,857
56,516
Accrued income and prepayments
59,843
54,052
Other debtors
748,189
981,216
Glen Avon Growers Limited
Notes to the Accounts
for the year ended 31 December 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
394,867
200,961
Trade creditors
198,678
871,185
Taxes and social security
25,310
19,374
Other creditors
10,494
7,909
8
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
500,727
294,331
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
DCA
18,586
16,002
19,000
15,588
18,586
16,002
19,000
15,588
The company is under the ultimate control of Mr.D.Schellingherout
11
Average number of employees
During the year the average number of employees was 34 (2020: 33).