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Company Registration No. 4650724 (England and Wales)
Class One Fresh Produce Limited Unaudited accounts for the year ended 28 February 2023
Class One Fresh Produce Limited Unaudited accounts Contents
Page
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Class One Fresh Produce Limited Company Information for the year ended 28 February 2023
Directors
CJ Cluny Mrs D Cluny BJ Cluny M Holmes
Secretary
Mrs D Cluny
Company Number
4650724 (England and Wales)
Registered Office
Unit 5 Cawder Park Snaygill Industrial Estate Skipton North Yorkshire BD23 2QR
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
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Class One Fresh Produce Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
753,432 
713,650 
Current assets
Inventories
153,652 
190,118 
Debtors
447,720 
489,074 
Cash at bank and in hand
131,566 
236,585 
732,938 
915,777 
Creditors: amounts falling due within one year
(717,469)
(881,960)
Net current assets
15,469 
33,817 
Total assets less current liabilities
768,901 
747,467 
Creditors: amounts falling due after more than one year
(314,504)
(268,500)
Provisions for liabilities
Deferred tax
(65,934)
(59,752)
Net assets
388,463 
419,215 
Capital and reserves
Called up share capital
7 
7 
Profit and loss account
388,456 
419,208 
Shareholders' funds
388,463 
419,215 
For the year ending 28 February 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 13 July 2023 and were signed on its behalf by
BJ Cluny Director Company Registration No. 4650724
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Class One Fresh Produce Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Class One Fresh Produce Limited is a private company, limited by shares, registered in England and Wales, registration number 4650724. The registered office is Unit 5 Cawder Park, Snaygill Industrial Estate, Skipton, North Yorkshire, BD23 2QR.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
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
in accordance with the property
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
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.
Deferred taxation
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.
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Class One Fresh Produce Limited Notes to the Accounts for the year ended 28 February 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
50,000 
At 28 February 2023
50,000 
Amortisation
At 1 March 2022
50,000 
At 28 February 2023
50,000 
Net book value
At 28 February 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2022
429,690 
113,508 
483,633 
177,366 
1,204,197 
Additions
- 
22,451 
121,990 
574 
145,015 
Disposals
- 
- 
(73,211)
- 
(73,211)
At 28 February 2023
429,690 
135,959 
532,412 
177,940 
1,276,001 
Depreciation
At 1 March 2022
14,799 
93,942 
266,375 
115,431 
490,547 
Charge for the year
- 
8,404 
60,212 
9,376 
77,992 
On disposals
- 
- 
(45,970)
- 
(45,970)
At 28 February 2023
14,799 
102,346 
280,617 
124,807 
522,569 
Net book value
At 28 February 2023
414,891 
33,613 
251,795 
53,133 
753,432 
At 28 February 2022
414,891 
19,566 
217,258 
61,935 
713,650 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
425,778 
450,228 
Other debtors
21,942 
38,846 
447,720 
489,074 
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Class One Fresh Produce Limited Notes to the Accounts for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
269,435 
177,775 
Obligations under finance leases and hire purchase contracts
11,935 
34,416 
Trade creditors
423,427 
565,713 
Taxes and social security
9,699 
101,083 
Accruals
2,973 
2,973 
717,469 
881,960 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
183,333 
249,297 
Obligations under finance leases and hire purchase contracts
131,171 
19,203 
314,504 
268,500 
9
Average number of employees
During the year the average number of employees was 41 (2022: 41).
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