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Registered Number: 08899158
England and Wales

 

 

 

VEGCO FRESH PRODUCE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 16,526    18,486 
16,526    18,486 
Current assets      
Stocks 22,140    22,140 
Debtors: amounts falling due within one year 129,621    114,994 
Debtors: amounts falling due after one year 8,272    8,272 
Cash at bank and in hand 21,132    (13,959)
181,165    131,447 
Creditors: amount falling due within one year (94,698)   (85,347)
Net current assets 86,467    46,100 
 
Total assets less current liabilities 102,993    64,586 
Creditors: amount falling due after more than one year (57,307)   (43,833)
Net assets 45,686    20,753 
 

Capital and reserves
     
Called up share capital 4 100    1 
Profit and loss account 45,586    20,752 
Shareholder's funds 45,686    20,753 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 11 October 2023 and were signed by:


-------------------------------
Shahzad Saqib
Director
1
General Information
Vegco Fresh Produce Ltd is a private company, limited by shares, registered in England and Wales, registration number 08899158, registration address Unit 1 Birmingham Wholesale Market, Witton, Birmingham, West Midlands, B6 7EU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures and Fittings 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2022 14,270    12,495    41,892    68,657 
Additions   14,000      14,000 
Disposals      
At 28 February 2023 14,270    26,495    41,892    82,657 
Depreciation
At 01 March 2022 11,416    4,998    33,757    50,171 
Charge for year 2,854    5,299    7,807    15,960 
On disposals      
At 28 February 2023 14,270    10,297    41,564    66,131 
Net book values
Closing balance as at 28 February 2023   16,198    328    16,526 
Opening balance as at 01 March 2022 2,854    7,497    8,135    18,486 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100   
100   

2