IRIS Accounts Production v23.1.5.20 03927178 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039271782022-03-31039271782023-03-31039271782022-04-012023-03-31039271782021-03-31039271782021-04-012022-03-31039271782022-03-3103927178ns15:EnglandWales2022-04-012023-03-3103927178ns14:PoundSterling2022-04-012023-03-3103927178ns10:Director12022-04-012023-03-3103927178ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3103927178ns10:SmallEntities2022-04-012023-03-3103927178ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3103927178ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3103927178ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103927178ns10:FullAccounts2022-04-012023-03-3103927178ns10:OrdinaryShareClass12022-04-012023-03-3103927178ns10:RegisteredOffice2022-04-012023-03-3103927178ns5:CurrentFinancialInstruments2023-03-3103927178ns5:CurrentFinancialInstruments2022-03-3103927178ns5:Non-currentFinancialInstruments2023-03-3103927178ns5:Non-currentFinancialInstruments2022-03-3103927178ns5:ShareCapital2023-03-3103927178ns5:ShareCapital2022-03-3103927178ns5:RetainedEarningsAccumulatedLosses2023-03-3103927178ns5:RetainedEarningsAccumulatedLosses2022-03-3103927178ns5:PlantMachinery2022-04-012023-03-3103927178ns5:MotorVehicles2022-04-012023-03-3103927178ns5:ComputerEquipment2022-04-012023-03-3103927178ns5:PlantMachinery2022-03-3103927178ns5:MotorVehicles2022-03-3103927178ns5:ComputerEquipment2022-03-3103927178ns5:PlantMachinery2023-03-3103927178ns5:MotorVehicles2023-03-3103927178ns5:ComputerEquipment2023-03-3103927178ns5:PlantMachinery2022-03-3103927178ns5:MotorVehicles2022-03-3103927178ns5:ComputerEquipment2022-03-3103927178ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-03-3103927178ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-04-012023-03-3103927178ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3103927178ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-03-3103927178ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103927178ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3103927178ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3103927178ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3103927178ns10:OrdinaryShareClass12023-03-3103927178ns5:RetainedEarningsAccumulatedLosses2022-03-3103927178ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 03927178 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

PARKFRESH VEGETABLES LIMITED

PARKFRESH VEGETABLES LIMITED (REGISTERED NUMBER: 03927178)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PARKFRESH VEGETABLES LIMITED

Company Information
for the year ended 31 March 2023







Director: Mr P Etches





Registered office: Parkfresh Smithy Lane
Friskney
Boston
Lincolnshire
PE22 8NE





Registered number: 03927178 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

PARKFRESH VEGETABLES LIMITED (REGISTERED NUMBER: 03927178)

Statement of Financial Position
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 200,219 232,902

Current assets
Stocks 11,440 19,818
Debtors 5 13,706 25,769
Cash at bank 31,933 29,577
57,079 75,164
Creditors
Amounts falling due within one year 6 156,152 113,491
Net current liabilities (99,073 ) (38,327 )
Total assets less current liabilities 101,146 194,575

Creditors
Amounts falling due after more than one year 7 (22,500 ) (32,500 )

Provisions for liabilities (21,072 ) (26,768 )
Net assets 57,574 135,307

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 57,474 135,207
Shareholders' funds 57,574 135,307

PARKFRESH VEGETABLES LIMITED (REGISTERED NUMBER: 03927178)

Statement of Financial Position - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 November 2023 and were signed by:





Mr P Etches - Director


PARKFRESH VEGETABLES LIMITED (REGISTERED NUMBER: 03927178)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Parkfresh Vegetables Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

At the year end the company had net current liabilities totalling £99,073 (2022 - £38,327). The directors agree that the financial statements are correct to be shown on a going concern basis and that they will continue to support the company.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 20% on 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PARKFRESH VEGETABLES LIMITED (REGISTERED NUMBER: 03927178)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1 April 2022 405,469 85,039 5,738 496,246
Additions 28,300 - - 28,300
Disposals (24,000 ) - - (24,000 )
At 31 March 2023 409,769 85,039 5,738 500,546
Depreciation
At 1 April 2022 240,052 18,073 5,219 263,344
Charge for year 31,779 13,393 104 45,276
Eliminated on disposal (8,293 ) - - (8,293 )
At 31 March 2023 263,538 31,466 5,323 300,327
Net book value
At 31 March 2023 146,231 53,573 415 200,219
At 31 March 2022 165,417 66,966 519 232,902

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£
Cost
At 1 April 2022
and 31 March 2023 110,441
Depreciation
At 1 April 2022 23,804
Charge for year 17,327
At 31 March 2023 41,131
Net book value
At 31 March 2023 69,310
At 31 March 2022 86,637

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 3,880 8,146
Corporation tax - 3,563
VAT 9,826 14,060
13,706 25,769

PARKFRESH VEGETABLES LIMITED (REGISTERED NUMBER: 03927178)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,833 10,028
Hire purchase contracts 9,653 24,281
Trade creditors 56,053 69,642
Social security and other taxes 1,549 1,617
Other creditors 2,952 1,811
Directors' current accounts 75,112 6,112
156,152 113,491

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans - 2-5 years 22,500 32,500

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 9,653 24,281

Of the creditors falling due within and after more than one year, the net obligations under hire purchase contracts are secured on the assets acquired.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. Reserves
Retained
earnings
£

At 1 April 2022 135,207
Deficit for the year (40,963 )
Dividends (36,770 )
At 31 March 2023 57,474