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REGISTERED NUMBER: 10810630 (England and Wales)














The Norfolk Apple Company Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






The Norfolk Apple Company Limited (Registered number: 10810630)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


The Norfolk Apple Company Limited

Company Information
for the Year Ended 30 June 2023







Directors: J A Clarke
J B Portass





Registered office: Manning Farms
Panswell Lane
Wisbech
Cambs
PE13 4TN





Business address: Bramley Lodge
St Paul's Road South
Walton Highway
Wisbech
Cambridgeshire
PE14 7DD





Registered number: 10810630 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Norfolk Apple Company Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Norfolk Apple Company Limited for the year ended 30 June 2023 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Norfolk Apple Company Limited, as a body, in accordance with the terms of our engagement letter dated 10 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of The Norfolk Apple Company Limited and state those matters that we have agreed to state to the Board of Directors of The Norfolk Apple Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Norfolk Apple Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Norfolk Apple Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Norfolk Apple Company Limited. You consider that The Norfolk Apple Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Norfolk Apple Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD


27 March 2024

The Norfolk Apple Company Limited (Registered number: 10810630)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 124,901 152,314

Current assets
Stocks 6 - 4,260
Debtors 7 2,449 6,560
Investments 8 20 20
Cash at bank 120,980 96,224
123,449 107,064
Creditors
Amounts falling due within one year 9 220,484 259,279
Net current liabilities (97,035 ) (152,215 )
Total assets less current liabilities 27,866 99

Creditors
Amounts falling due after more than one
year

10

(23,333

)

(33,333

)

Provisions for liabilities (7,351 ) -
Net liabilities (2,818 ) (33,234 )

Capital and reserves
Called up share capital 100 100
Other reserve 11 - 9,167
Retained earnings (2,918 ) (42,501 )
(2,818 ) (33,234 )

The Norfolk Apple Company Limited (Registered number: 10810630)

Statement of Financial Position - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 27 March 2024 and were signed on its behalf by:





J A Clarke - Director


The Norfolk Apple Company Limited (Registered number: 10810630)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

The Norfolk Apple Company 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on a straight line basis
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance and 10% on a straight line basis
Refrigeration equipment - 20% on reducing balance
Computer equipment - 33% on cost

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.

The Norfolk Apple Company Limited (Registered number: 10810630)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

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.

4. Employees and directors

The average number of employees during the year was 7 (2022 - 7 ) .

5. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 July 2022 46,691 155,551 38,547
Additions - - -
At 30 June 2023 46,691 155,551 38,547
Depreciation
At 1 July 2022 20,996 94,398 19,153
Charge for year 4,614 12,230 3,743
At 30 June 2023 25,610 106,628 22,896
Net book value
At 30 June 2023 21,081 48,923 15,651
At 30 June 2022 25,695 61,153 19,394

Refrigeration Computer
equipment equipment Totals
£    £    £   
Cost
At 1 July 2022 112,456 548 353,793
Additions - 3,067 3,067
At 30 June 2023 112,456 3,615 356,860
Depreciation
At 1 July 2022 66,394 538 201,479
Charge for year 9,212 681 30,480
At 30 June 2023 75,606 1,219 231,959
Net book value
At 30 June 2023 36,850 2,396 124,901
At 30 June 2022 46,062 10 152,314

The Norfolk Apple Company Limited (Registered number: 10810630)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. Stocks
2023 2022
£    £   
Total stock - 4,260

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 2,449 6,560

8. Current asset investments
2023 2022
£    £   
Anglian Farmers Limited 20 20

9. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 3,684 2,594
Amounts owed to associates 169,997 222,480
VAT 28,820 171
Accruals 7,983 24,034
220,484 259,279

An interest free loan of £85,000 was issued to The Norfolk Apple Company by Wisbech Contract Farming Ltd in 2018. Repayments will be made at the discretion of the directors of the company. The loan which has been discounted to a fair value of £85,000 (2022: £85,000), is included in other creditors falling due within one year at 30 June 2023. Repayments totalling £40,000 were made in the year ended 30 June 2024.

An interest free loan of £84,997 was issued to The Norfolk Apple Company by Fenland Topfruits Ltd in 2018. Repayments will be made at the discretion of the directors of the company. The loan which has been discounted to a fair value of £84,997 (2022: £84,997), is included in other creditors falling due within one year at 30 June 2023. Repayments totalling £40,000 were made in the year ended 30 June 2024.

An interest free loan of £175,870 was issued to The Norfolk Apple Company by Greenyard Fresh Ltd in 2019. The loan which had been discounted to a fair value of £52,483 in 2022 was written off in full during 2023.

10. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 13,333 23,333
23,333 33,333

The Norfolk Apple Company Limited (Registered number: 10810630)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


11. Reserves
Other
reserve
£   
At 1 July 2022 9,167
Profit & loss - Reclassification from
revaluation

(9,167

)


At 30 June 2023 -

12. Post balance sheet events

During the year end 30 June 2024 all fruit was completely packed at a third party packhouse, and the company's own packhouse ceased to be used.

The company still deals with the sale of fruit on behalf of the growers, and charges a levy to cover expenses.

13. Going concern

The company is reliant on the financial support of its members and this will continue for the foreseeable future.