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REGISTERED NUMBER: 08828704 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Global Berry Ltd

Global Berry Ltd (Registered number: 08828704)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Global Berry Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: M J Evans





REGISTERED OFFICE: Global Berry Farm
Chilton Cantelo
Yeovil
Somerset
BA22 8BE





REGISTERED NUMBER: 08828704 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Global Berry Ltd (Registered number: 08828704)

Balance Sheet
30 June 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 667 917
Tangible assets 5 16,281,976 14,690,224
16,282,643 14,691,141

CURRENT ASSETS
Debtors 6 795,610 47,136
Cash at bank and in hand 178,991 7,284
974,601 54,420
CREDITORS
Amounts falling due within one year 7 11,443,875 7,332,570
NET CURRENT LIABILITIES (10,469,274 ) (7,278,150 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,813,369

7,412,991

CREDITORS
Amounts falling due after more than one
year

8

(9,890,049

)

(7,508,500

)

PROVISIONS FOR LIABILITIES 12 - (624,369 )
NET LIABILITIES (4,076,680 ) (719,878 )

CAPITAL AND RESERVES
Called up share capital 13 3,053,572 3,053,572
Retained earnings (7,130,252 ) (3,773,450 )
SHAREHOLDERS' FUNDS (4,076,680 ) (719,878 )

Global Berry Ltd (Registered number: 08828704)

Balance Sheet - 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 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 29 August 2024 and were signed by:





M J Evans - Director


Global Berry Ltd (Registered number: 08828704)

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

1. STATUTORY INFORMATION

Global Berry Ltd 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. 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" and the Companies Act 2006.

On 24 May 2023, Global Berry Limited entered into a Company Voluntary Arrangement or "CVA".

The CVA was concluded in May 2024, and therefore the adjustments to the accounts resulting from the CVA are not reflected within the accounts at the balance sheet date, 30 June 2023. The conclusion of the CVA is considered to be a non-adjusting post balance sheet event.

The Director considers it appropriate to prepare the accounts on a going concern basis, as a plan was in place, through the CVA, to enable the company to continue to trade. The accounts therefore do not include any of the adjustments which would be required if the going concern basis of accounting was not adopted.

The prior year comparative figures have been restated to be presented on a going concern basis.

Turnover
Turnover represents rental income and sales of strawberries. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

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 four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Leasehold improvements - 10% on cost
Plant and machinery - Straight line over 15 years
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost, with the exception of freehold properties which are stated at fair value, with movements in fair value being recognised in the income statement in the year of revaluation.

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.

Global Berry Ltd (Registered number: 08828704)

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

2. 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.

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 74 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 1,000
AMORTISATION
At 1 July 2022 83
Charge for year 250
At 30 June 2023 333
NET BOOK VALUE
At 30 June 2023 667
At 30 June 2022 917

5. TANGIBLE FIXED ASSETS
Assets
Freehold Leasehold under
property improvements construction
£    £    £   
COST
At 1 July 2022 10,900,000 146,452 1,981,783
Additions 2,756 87,169 209,856
Disposals - - -
Reclassification/transfer - - (1,946,796 )
At 30 June 2023 10,902,756 233,621 244,843
DEPRECIATION
At 1 July 2022 - 61,964 -
Charge for year - 18,688 -
Eliminated on disposal - - -
At 30 June 2023 - 80,652 -
NET BOOK VALUE
At 30 June 2023 10,902,756 152,969 244,843
At 30 June 2022 10,900,000 84,488 1,981,783

Global Berry Ltd (Registered number: 08828704)

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

5. TANGIBLE FIXED ASSETS - continued

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 2,033,392 231,590 10,094 15,303,311
Additions 1,776,966 1,832 26,086 2,104,665
Disposals (157,701 ) (77,831 ) - (235,532 )
Reclassification/transfer 1,946,796 - - -
At 30 June 2023 5,599,453 155,591 36,180 17,172,444
DEPRECIATION
At 1 July 2022 467,693 79,053 4,377 613,087
Charge for year 247,023 30,966 5,566 302,243
Eliminated on disposal (877 ) (23,985 ) - (24,862 )
At 30 June 2023 713,839 86,034 9,943 890,468
NET BOOK VALUE
At 30 June 2023 4,885,614 69,557 26,237 16,281,976
At 30 June 2022 1,565,699 152,537 5,717 14,690,224

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 101,542 4,239
Amounts owed by related parties(note 19) 658,337 -
Other debtors 13,506 149
Directors' current accounts - 42,748
Prepayments and accrued income 22,225 -
795,610 47,136

The company had an amount receivable at the balance sheet date from GB Fruit Co Plc of £657,985 and £355 from GB Soft Fruit Company Ltd, both companies under common control.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts (see note 9) 3,658,768 3,175,292
Hire purchase contracts (see note 10) 185,027 146,390
Trade creditors 3,753,566 2,340,295
Amounts owed to related parties(note 19) 61,562 -
Tax - 210,446
Social security and other taxes 363,240 380,598
Loans and borrowings 1,811,420 959,352
Other creditors 65,818 86,854
Deferred consideration 1,200,000 -
Directors' current accounts 250,000 -
Accrued expenses 94,474 33,343
11,443,875 7,332,570

The company had an amount payable to GB Lights Plc of £61,562 and £2,872,244 to Bradon Soft Fruit Farm Ltd, both companies under common control at the balance sheet date.

Global Berry Ltd (Registered number: 08828704)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans (see note 9) 2,802,895 3,055,884
Hire purchase contracts (see note 10) 101,119 268,361
Loans and borrowings 1,123,722 1,184,255
Amounts owed to related parties 4,062,313 -
Deferred consideration 1,800,000 3,000,000
9,890,049 7,508,500

Amounts falling due in more than five years:

Repayable by instalments
Loans and borrowings 2,802,895 3,055,884

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
as restated
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,170,271 1,733,415
Bank loans 1,488,497 1,441,877
3,658,768 3,175,292

Amounts falling due in more than five years:

Repayable by instalments
Loans and borrowings 2,802,895 3,055,884

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
as restated
£    £   
Net obligations repayable:
Within one year 185,027 146,390
Between one and five years 101,119 268,361
286,146 414,751

Non-cancellable operating leases
2023 2022
as restated
£    £   
Within one year 35,959 -
Between one and five years 59,817 -
95,776 -

Global Berry Ltd (Registered number: 08828704)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank overdrafts 2,170,271 1,733,415
Hire purchase contracts 286,146 414,751
Bank loans and other loans 5,376,445 5,702,016
Deferred consideration 3,000,000 3,000,000
10,832,862 10,850,182

Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.

Other loans are secured against the assets to which they relate.

Deferred consideration is secured against the land and buildings at Bradon Farm.

Obligations under finance leases and hire purchase contracts are secured on the underlying assets.

12. PROVISIONS FOR LIABILITIES
2023 2022
as restated
£    £   
Deferred tax
Other timing differences - 234,000
Accelerated capital allowances - 390,369
- 624,369

Deferred
tax
£   
Balance at 1 July 2022 624,369
Credit to Income Statement during year (624,369 )
Balance at 30 June 2023 -

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
100 A Shares £1 100 100
3,053,472 B Shares £1 3,053,472 3,053,472
3,053,572 3,053,572

Global Berry Ltd (Registered number: 08828704)

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

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
as restated
£    £   
J P Downes
Balance outstanding at start of year 42,748 12,937
Amounts advanced 22,369 29,811
Amounts repaid (52,954 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,163 42,748

M J Barbrook
Balance outstanding at start of year - -
Amounts advanced 2,884 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,884 -

As both of the directors resigned in the year the balances have been reallocated to other debtors.

15. RELATED PARTY DISCLOSURES

During the year companies which are under the control of a shareholder in the company provided loans to the company totalling £1,315,200 (2022: £457,000). At the balance sheet date £1,315,200 (2022: £457,000) was outstanding.

The company also received loans from it's director of £250,000 which remained outstanding at the balance sheet date.

16. POST BALANCE SHEET EVENTS

The Company entered into a Company Voluntary Arrangement, or CVA in May 2023.

The CVA concluded in May 2024. The arrangements of the CVA were not finalised at the balance sheet date (30 June 2023) and therefore are considered to be a non-adjusting post balance sheet event.

The effects of the conclusion of the CVA and final distribution are therefore not reflected within these accounts.

In addition, the company's main trading subsidiary, Bradon Soft Fruit Farm Limited, entered into liquidation in March 2023. The liquidation was not concluded until after the balance sheet date, 30 June 2023, and therefore the amounts due by the company to Bradon Soft Fruit Farm remain recognised in full within these accounts at the balance sheet date. The conclusion of the liquidation is considered to be a non-adjusting post balance sheet event.