Silverfin false 31/03/2022 31/03/2022 01/04/2021 Elizabeth Hebditch William Hebditch 30 August 2022 The principal activity of the Company during the financial year was fruit growing. 00687085 2022-03-31 00687085 2021-03-31 00687085 core:CurrentFinancialInstruments 2022-03-31 00687085 core:CurrentFinancialInstruments 2021-03-31 00687085 core:ShareCapital 2022-03-31 00687085 core:ShareCapital 2021-03-31 00687085 core:RetainedEarningsAccumulatedLosses 2022-03-31 00687085 core:RetainedEarningsAccumulatedLosses 2021-03-31 00687085 core:LandBuildings 2021-03-31 00687085 core:PlantMachinery 2021-03-31 00687085 core:Vehicles 2021-03-31 00687085 core:OtherPropertyPlantEquipment 2021-03-31 00687085 core:LandBuildings 2022-03-31 00687085 core:PlantMachinery 2022-03-31 00687085 core:Vehicles 2022-03-31 00687085 core:OtherPropertyPlantEquipment 2022-03-31 00687085 bus:OrdinaryShareClass1 2022-03-31 00687085 2021-04-01 2022-03-31 00687085 bus:FullAccounts 2021-04-01 2022-03-31 00687085 bus:SmallEntities 2021-04-01 2022-03-31 00687085 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 00687085 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 00687085 bus:Director1 2021-04-01 2022-03-31 00687085 bus:Director2 2021-04-01 2022-03-31 00687085 core:PlantMachinery core:TopRangeValue 2021-04-01 2022-03-31 00687085 core:Vehicles core:TopRangeValue 2021-04-01 2022-03-31 00687085 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-04-01 2022-03-31 00687085 2020-04-01 2021-03-31 00687085 core:LandBuildings 2021-04-01 2022-03-31 00687085 core:PlantMachinery 2021-04-01 2022-03-31 00687085 core:Vehicles 2021-04-01 2022-03-31 00687085 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 00687085 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 00687085 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00687085 (England and Wales)

NEW CROSS FRUIT FARMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2022
Pages for filing with the registrar

NEW CROSS FRUIT FARMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

NEW CROSS FRUIT FARMS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2022
NEW CROSS FRUIT FARMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2022
DIRECTORS Elizabeth Hebditch
William Hebditch
SECRETARY Elizabeth Hebditch
REGISTERED OFFICE 2nd Floor Stratus House Emperor Way
Exeter Business Park
Exeter
EX1 3QS
United Kingdom
COMPANY NUMBER 00687085 (England and Wales)
CHARTERED ACCOUNTANTS Bishop Fleming LLP
Stratus House
Emperor Way
Exeter Business Park
Exeter
EX1 3QS
NEW CROSS FRUIT FARMS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2022
NEW CROSS FRUIT FARMS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 409,050 392,551
409,050 392,551
Current assets
Stocks 400 1,150
Debtors 4 12,674 3,606
Cash at bank and in hand 13,092 132,275
26,166 137,031
Creditors
Amounts falling due within one year 5 ( 147,240) ( 173,571)
Net current liabilities (121,074) (36,540)
Total assets less current liabilities 287,976 356,011
Provisions for liabilities ( 26,901) ( 15,205)
Net assets 261,075 340,806
Capital and reserves
Called-up share capital 6 7,750 7,750
Profit and loss account 253,325 333,056
Total shareholders' funds 261,075 340,806

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of New Cross Fruit Farms Limited (registered number: 00687085) were approved and authorised for issue by the Board of Directors on 30 August 2022. They were signed on its behalf by:

Elizabeth Hebditch
Director
William Hebditch
Director
NEW CROSS FRUIT FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
NEW CROSS FRUIT FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

New Cross Fruit Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales, registered number 00687085. The address of the Company's registered office is 2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, Devon, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of New Cross Fruit Farms Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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 carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows except for Freehold Property which is depreciated at £1,000 per annum.

Land and buildings not depreciated
Plant and machinery 10 years straight line
Vehicles 5 years straight line
Other property, plant and equipment 15 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Vehicles Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 April 2021 399,736 89,934 54,578 30,786 575,034
Additions 14,206 33,165 0 0 47,371
Disposals ( 25,000) 0 ( 4,995) 0 ( 29,995)
At 31 March 2022 388,942 123,099 49,583 30,786 592,410
Accumulated depreciation
At 01 April 2021 30,640 83,898 53,579 14,366 182,483
Charge for the financial year 1,000 1,821 0 2,052 4,873
Disposals 0 0 ( 3,996) 0 ( 3,996)
At 31 March 2022 31,640 85,719 49,583 16,418 183,360
Net book value
At 31 March 2022 357,302 37,380 0 14,368 409,050
At 31 March 2021 369,096 6,036 999 16,420 392,551

4. Debtors

2022 2021
£ £
VAT recoverable 12,674 3,606

5. Creditors: amounts falling due within one year

2022 2021
£ £
Amounts owed to directors 143,774 127,602
Accruals 3,466 3,301
Corporation tax 0 42,668
147,240 173,571

6. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
7,750 Ordinary shares of £ 1.00 each 7,750 7,750

7. Related party transactions

During the year the directors maintained a current account with the company. At the year end the company owed the directors £143,774 (2020: £127,602)

During the year the company paid the directors dividends of Nil (2020: £3,191)