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REGISTERED NUMBER: 12063235 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Produce Link Ltd

Produce Link Ltd (Registered number: 12063235)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Produce Link Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: J Anderson





REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 12063235 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Produce Link Ltd (Registered number: 12063235)

Report of the Director
for the Year Ended 31 December 2021

The director presents his report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of wholesale distribution of exotic fruits.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
J Anderson held office during the whole of the period from 1 January 2021 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J Anderson - Director


24 February 2022

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Produce Link Ltd


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Produce Link Ltd for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Produce Link Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Produce Link Ltd and state those matters that we have agreed to state to the director of Produce Link Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Produce Link Ltd and its director for our work or for this report.

It is your duty to ensure that Produce Link Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Produce Link Ltd. You consider that Produce Link Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Produce Link Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


5 September 2022

Produce Link Ltd (Registered number: 12063235)

Income Statement
for the Year Ended 31 December 2021

31/12/21 31/12/20
Notes £    £   

TURNOVER 1,393,742 842,926

Cost of sales (1,338,258 ) (792,245 )
GROSS PROFIT 55,484 50,681

Administrative expenses (42,746 ) (45,795 )
OPERATING PROFIT 4 12,738 4,886


Interest payable and similar expenses (304 ) (177 )
PROFIT BEFORE TAXATION 12,434 4,709

Tax on profit (3,333 ) (228 )
PROFIT FOR THE FINANCIAL YEAR 9,101 4,481

Produce Link Ltd (Registered number: 12063235)

Balance Sheet
31 December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 32,933 44,744

CURRENT ASSETS
Stocks 3,500 23,848
Debtors 6 148,832 163,497
Cash at bank 7,274 24,798
159,606 212,143
CREDITORS
Amounts falling due within one year 7 112,980 171,313
NET CURRENT ASSETS 46,626 40,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,559

85,574

CREDITORS
Amounts falling due after more than one year 8 (37,211 ) (46,583 )

PROVISIONS FOR LIABILITIES (6,257 ) (7,501 )
NET ASSETS 36,091 31,490

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 36,090 31,489
36,091 31,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Produce Link Ltd (Registered number: 12063235)

Balance Sheet - continued
31 December 2021


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

The financial statements were approved by the director and authorised for issue on 24 February 2022 and were signed by:





J Anderson - Director


Produce Link Ltd (Registered number: 12063235)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Produce Link Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% straight line
Motor vehicles - 25% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31/12/21 31/12/20
£    £   
Depreciation - owned assets 11,811 11,304

Produce Link Ltd (Registered number: 12063235)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 52,649 6,000 58,649
DEPRECIATION
At 1 January 2021 13,030 875 13,905
Charge for year 10,530 1,281 11,811
At 31 December 2021 23,560 2,156 25,716
NET BOOK VALUE
At 31 December 2021 29,089 3,844 32,933
At 31 December 2020 39,619 5,125 44,744

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 70,255 162,140
Amounts owed by group undertakings 70,419 -
Other debtors 8,158 1,357
148,832 163,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Bank loans and overdrafts 10,000 6,250
Hire purchase contracts 2,000 2,000
Trade creditors 92,429 134,017
Taxation and social security 5,242 732
Other creditors 3,309 28,314
112,980 171,313

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/21 31/12/20
£    £   
Bank loans 36,378 43,750
Hire purchase contracts 833 2,833
37,211 46,583

Produce Link Ltd (Registered number: 12063235)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the amount of £3,309 (2020 - £28,314) was owed to the director by the company.

10. POST BALANCE SHEET EVENTS

The Covid 19 global pandemic and subsequent intervention from governments worldwide has resulted in a high level of uncertainty and volatility. The outcome of these events is at the time of signing these financial statements unknown and as such the financial impact to revenue and demand cannot be estimated. Notwithstanding these events, the directors believe the changes they have made to the operations of the company will allow it to continue to trade successfully in the future.

11. ULTIMATE CONTROLLING PARTY

The company became a wholly owned subsidiary of Produce Link Holdings Ltd on 22/04/2021.

The company is controlled by J Anderson, by reason of his shareholding in the holding company.