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REGISTERED NUMBER: SC249181 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

SWANSONS FRUIT COMPANY LIMITED

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWANSONS FRUIT COMPANY LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S Air
M W Swanson





REGISTERED OFFICE: Orchard House
3 Henderson Drive
Inverness
IV1 1TR





REGISTERED NUMBER: SC249181 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 4,500
Tangible assets 5 461,143 491,559
461,143 496,059

CURRENT ASSETS
Stocks 34,580 26,682
Debtors 6 330,856 281,406
Cash at bank and in hand 108,277 96,064
473,713 404,152
CREDITORS
Amounts falling due within one year 7 (538,178 ) (560,925 )
NET CURRENT LIABILITIES (64,465 ) (156,773 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,678

339,286

CREDITORS
Amounts falling due after more than one
year

8

(128,218

)

(160,846

)

PROVISIONS FOR LIABILITIES (17,514 ) (27,519 )
NET ASSETS 250,946 150,921

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 249,946 149,921
250,946 150,921

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Balance Sheet - continued
31 July 2023


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 Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





M W Swanson - Director


SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

SWANSONS FRUIT COMPANY LIMITED is a private company, limited by shares , registered in Scotland. 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.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% straight line
Plant and machinery etc - 33% straight line, 25% straight line and 15% 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 9,000
AMORTISATION
At 1 August 2022 4,500
Charge for year 4,500
At 31 July 2023 9,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 4,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 421,545 418,946 840,491
Additions - 38,124 38,124
At 31 July 2023 421,545 457,070 878,615
DEPRECIATION
At 1 August 2022 39,326 309,606 348,932
Charge for year 8,431 60,109 68,540
At 31 July 2023 47,757 369,715 417,472
NET BOOK VALUE
At 31 July 2023 373,788 87,355 461,143
At 31 July 2022 382,219 109,340 491,559

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 290,776 243,253
Other debtors 40,080 38,153
330,856 281,406

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 62,567 126,247
Hire purchase contracts 26,145 16,960
Trade creditors 414,191 372,280
Taxation and social security 11,741 9,852
Other creditors 23,534 35,586
538,178 560,925

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,464 73,443
Hire purchase contracts 21,973 17,006
Taxation and social security 82,781 70,397
128,218 160,846