REGISTERED NUMBER: |
Anglia Growers Limited |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
REGISTERED NUMBER: |
Anglia Growers Limited |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
Anglia Growers Limited (Registered number: 10451540) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 8 |
Anglia Growers Limited |
Company Information |
for the Year Ended 31 October 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Anglia Growers 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 Anglia Growers Limited for the year ended 31 October 2023 which comprise the Statement of income and retained earnings, Statement of financial position 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 Anglia Growers Limited, as a body, in accordance with the terms of our engagement letter dated 2 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Anglia Growers Limited and state those matters that we have agreed to state to the Board of Directors of Anglia Growers 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 Anglia Growers Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Anglia Growers 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 Anglia Growers Limited. You consider that Anglia Growers 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 Anglia Growers 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. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Anglia Growers Limited (Registered number: 10451540) |
Statement of Financial Position |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
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. |
Anglia Growers Limited (Registered number: 10451540) |
Statement of Financial Position - continued |
31 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Anglia Growers Limited (Registered number: 10451540) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | Statutory information |
Anglia Growers 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. |
2. | Statement of compliance |
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in associates |
Investments in associates accounted for in accordance with the cost model are recorded at cost less |
any accumulated impairment losses. |
Where it is impracticable to measure investments in associates at fair value reliably without undue cost |
or effort, the cost model will be adopted. |
Dividends and other distributions received from the investment are recognised as income without |
regard to whether the distributions are from accumulated profits of the associate arising before or after |
the date of acquisition. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value |
Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
Anglia Growers Limited (Registered number: 10451540) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
3. | Accounting policies - continued |
Income tax |
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. |
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
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. |
4. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
5. | Tangible fixed assets |
Plant and |
machinery |
£ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Depreciation |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
Anglia Growers Limited (Registered number: 10451540) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
6. | Fixed asset investments |
Interest |
in |
associate |
£ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by related companies |
Other debtors | 88,000 | - |
Directors' current accounts | 66,674 | - |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to related companies |
Corporation tax |
VAT | 9,944 | 94,633 |
Directors' current accounts | - | 2,086 |
Accruals and deferred income |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
Anglia Growers Limited (Registered number: 10451540) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
10. | Directors' advances, credits and guarantees |
The following advances and credits to the directors subsisted during the year ended 31 October 2023 and the period ended 31 October 2022. |
2023 | 2022 |
£ | £ |
Director |
Balance outstanding at start of period | (2,086 | ) | (146,655 | ) |
Amounts advanced | 235,260 | 279,569 |
Amounts repaid | (166,500 | ) | (135,000 | ) |
Balance outstanding at end of period | 66,674 | (2,086 | ) |
Interest was charged to the directors loan accounts during the year at rates of 2% and 2.25%. The amounts repaid and advanced disclosed were aggregated figures. |