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REGISTERED NUMBER: 06303993 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

UNITED FRESH CONSORTIUM LIMITED

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


UNITED FRESH CONSORTIUM LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr C Paynton
Mrs A Feasey
Mr P W Merrell





SECRETARY: Mrs A Feasey





REGISTERED OFFICE: Office Suite 2 Lowes Lane Business Park
Wellesbourne
Warwick
Warwickshire
CV35 9RB





REGISTERED NUMBER: 06303993 (England and Wales)





AUDITORS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Statutory Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

STRATEGIC REPORT
for the year ended 31 December 2023


The directors present their strategic report for the year ended 31 December 2023.

The United Fresh Consortium Limited is an ESG-focused national supplier of fresh produce, dairy and morning goods, Deli, and Specialist food to caterers within Great Britain and Ireland. The model brings together some of the country's best regional suppliers, growers, and producers to supply national contracts from a regional supply base.

This model feeds the ever-growing need for "local" supply but, at the same time, works towards the most sustainable route possible as a step change for the industry. The UFC model is the UK's leader in ESG lead supply in this category, enabling our clients to work towards their own goals more easily and not only talk about but also prove it. The UFC model also takes pride in its support of communities through our regional procurement and distribution model, employing staff locally to the area of operations. We supply most of our customers within a radius of less than 50 miles and an average of 31 miles.

We have an extensive growing customer base with some impressive brands from hospitality to education and contract catering. As the industry wakes up to the need to operate correctly, a sustainable supply chain is not a goal that can be ticked off but an ever-evolving and constant work ethic.


UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

STRATEGIC REPORT
for the year ended 31 December 2023

REVIEW OF BUSINESS, FUTURE DEVELOPMENTS AND KEY PERFORMANCE INDICATORS
In addition to our principal activity, our core business enables our supply partners to benefit from consolidated procurement where appropriate, efficiencies through administration, and finance best practices.

This year we placed customer services at the forefront of the company and made improvements to further support both customers and supply partners. This consisted of process improvement, new people, and training. Our company holds strong relationships, and we will support these with regular business reviews and a potential supplier-led conferences.

We have invested heavily in new people to create a structure that can support the increased revenues we plan to see in 2024.

In March 2023 we completed a management buyout of two shareholders. IDKTP Limited was created to facilitate this transaction. Post this transaction we are now required to file group accounts, the associated costs have been capitalised on the balance sheet of IDKTP Limited.

Our future strategic plan for 2024 consists of several areas, with strategic projects in place:

Ensuring that our systems are correct and robust enough to take the UFC forward. Our systems continue to provide us with a solid platform for growth; we will continue our ongoing projects to ensure this is always being improved. We plan to integrate more and focus on streamlining operational processes.

Ensuring that our client offer remains class-leading through continual review and investment in our supply links.

Making alterations to our ESG policies, output, and capacity for learning/growth

Steps taken to ensure full traceable compliance, which can be backed up with a system based easy to access data.

Seeking to employ an ESG Champion whose sole responsibility will drive the company's understanding, compliance, social impact, and improve awareness.

Team growth and we plan to continue by securing greater talent with category market and professional experience in different business sectors. We have already highlighted the areas, and discussions are underway and close to completion.

We have also worked hard this year to improve our staff benefits and increased staff salaries by more than the cost-of-living increase. It is the director's will to keep our important and key colleagues rewarded at the right level and that shows our appreciation of their efforts, but also aids us in attracting the right talent going forward


UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

STRATEGIC REPORT
for the year ended 31 December 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors believe that the business is in a strong position to develop opportunities in the months and years to come. The business regularly demonstrates a hunger to take advantage of any potential opportunity. Our team is more focused than ever, and we will continue to work on putting the right resource in to allow for growth.

We continue to review credit risk and ensure our accounting procedures are followed to avoid potential bad debt. We are pleased by the actual low impact here but remain vigilant; our better-resourced team has made great improvements leading to a significant reduction in debtor days.

Supply and Supply Partner Relationships

Margin and a greater understanding of cost - understanding our supply partners' costs is a priority; like most businesses, we are all under incredible pressure and strive to mitigate or prevent passing through into our pricing. Fuel and Energy are prime examples of this, along with many inflationary impacts, which we as a business have had to work together with our supply group to ensure that we are working at mitigating wherever possible but ultimately finding the best way to pass these onto the client base in such a way that is understood and accepted.

ON BEHALF OF THE BOARD:





Mr C Paynton - Director


25 September 2024

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

REPORT OF THE DIRECTORS
for the year ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of bringing together business to facilitate the supply of fresh produce for national contracts.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
Mr C Paynton has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr N D J Kershaw - resigned 16 March 2023
Mrs A Feasey - appointed 27 March 2023

Mr P W Merrell was appointed as a director after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

REPORT OF THE DIRECTORS
for the year ended 31 December 2023


AUDITORS
The auditors, Pentlands Accountants and advisors Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr C Paynton - Director


25 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNITED FRESH CONSORTIUM LIMITED


Opinion
We have audited the financial statements of United Fresh Consortium Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNITED FRESH CONSORTIUM LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNITED FRESH CONSORTIUM LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our procedures were designed to identify the key areas where irregularities, including fraud, could occur. We have designed the procedures in accordance with our knowledge of the entity and its current environment.

Before the audit commenced, we determined the areas that are more likely to be at risk of material misstatement. This included looking at areas where non-compliance with laws and regulations could occur. Our initial assessment determined that the risk to material misstatement and fraud was low due to the good segregation of duties . The business always takes good advice surrounding its activities in order to confirm they are complying with laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Tarandeep Singh Birdi (Senior Statutory Auditor)
for and on behalf of Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Statutory Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

25 September 2024

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

INCOME STATEMENT
for the year ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 37,857,791 30,123,975

Cost of sales 36,002,872 28,709,566
GROSS PROFIT 1,854,919 1,414,409

Administrative expenses 1,543,286 874,136
OPERATING PROFIT 4 311,633 540,273

Interest receivable and similar income 2,181 1,097
313,814 541,370

Interest payable and similar expenses 5 157,521 2,140
PROFIT BEFORE TAXATION 156,293 539,230

Tax on profit 6 63,685 114,626
PROFIT FOR THE FINANCIAL YEAR 92,608 424,604

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

OTHER COMPREHENSIVE INCOME
for the year ended 31 December 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 92,608 424,604


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

92,608

424,604

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 164,725 -
Tangible assets 9 434,962 191,398
599,687 191,398

CURRENT ASSETS
Debtors 10 7,719,196 4,547,686
Cash at bank 111,624 1,250,931
7,830,820 5,798,617
CREDITORS
Amounts falling due within one year 11 7,582,430 5,455,103
NET CURRENT ASSETS 248,390 343,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

848,077

534,912

CREDITORS
Amounts falling due after more than one
year

12

(313,189

)

(117,111

)

PROVISIONS FOR LIABILITIES 16 (60,845 ) (36,366 )
NET ASSETS 474,043 381,435

CAPITAL AND RESERVES
Called up share capital 17 196 196
Share premium 18 3,604 3,604
Retained earnings 18 470,243 377,635
SHAREHOLDERS' FUNDS 474,043 381,435

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr C Paynton - Director


UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

STATEMENT OF CHANGES IN EQUITY
for the year ended 31 December 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 January 2022 196 (6,386 ) 3,604 (2,586 )

Changes in equity
Dividends - (40,583 ) - (40,583 )
Total comprehensive income - 424,604 - 424,604
Balance at 31 December 2022 196 377,635 3,604 381,435

Changes in equity
Total comprehensive income - 92,608 - 92,608
Balance at 31 December 2023 196 470,243 3,604 474,043

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

CASH FLOW STATEMENT
for the year ended 31 December 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (584,301 ) 509,557
Interest paid (128,131 ) -
Interest element of hire purchase
payments paid

(29,390

)

(2,140

)
Tax paid (61,102 ) -
Net cash from operating activities (802,924 ) 507,417

Cash flows from investing activities
Purchase of intangible fixed assets (164,725 ) -
Purchase of tangible fixed assets (351,409 ) (193,444 )
Interest received 2,181 1,097
Net cash from investing activities (513,953 ) (192,347 )

Cash flows from financing activities
Capital repayments in year 265,798 131,945
Amount introduced by directors - 68,134
Amount withdrawn by directors (88,228 ) (109,527 )
Equity dividends paid - (40,583 )
Net cash from financing activities 177,570 49,969

(Decrease)/increase in cash and cash equivalents (1,139,307 ) 365,039
Cash and cash equivalents at
beginning of year

2

1,250,931

885,892

Cash and cash equivalents at end of
year

2

111,624

1,250,931

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE CASH FLOW STATEMENT
for the year ended 31 December 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 156,293 539,230
Depreciation charges 107,844 23,347
Finance costs 157,521 2,140
Finance income (2,181 ) (1,097 )
419,477 563,620
Increase in trade and other debtors (3,053,505 ) (1,243,582 )
Increase in trade and other creditors 2,049,727 1,189,519
Cash generated from operations (584,301 ) 509,557

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 111,624 1,250,931
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 1,250,931 885,892


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank 1,250,931 (1,139,307 ) 111,624
1,250,931 (1,139,307 ) 111,624
Debt
Finance leases (131,945 ) (265,798 ) (397,743 )
Debts falling due within 1 year - (377,238 ) (377,238 )
(131,945 ) (643,036 ) (774,981 )
Total 1,118,986 (1,782,343 ) (663,357 )

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

United Fresh Consortium 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. 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. 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.

The Development costs have not been amortised as the software has not been brought into to use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost and 25% on cost

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.

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.

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 655,063 396,932
Social security costs 60,835 35,016
Other pension costs 3,871 16,347
719,769 448,295

The average number of employees during the year was as follows:
2023 2022

Directors 2 1
Staff 11 10
13 11

2023 2022
£    £   
Directors' remuneration 141,000 56,012

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 107,845 23,347

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Invoice Discounting fees 128,131 -
Hire purchase 29,390 2,140
157,521 2,140

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 39,206 72,974
Corp. Tax over/under provision - 795
Total current tax 39,206 73,769

Deferred tax 24,479 40,857
Tax on profit 63,685 114,626

7. DIVIDENDS
2023 2022
£    £   
Interim - 40,583

8. INTANGIBLE FIXED ASSETS
Developmen
costs
£   
COST
Additions 164,725
At 31 December 2023 164,725
NET BOOK VALUE
At 31 December 2023 164,725

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


9. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 179,712 86,695 266,407
Additions 331,520 19,889 351,409
At 31 December 2023 511,232 106,584 617,816
DEPRECIATION
At 1 January 2023 12,179 62,830 75,009
Charge for year 93,931 13,914 107,845
At 31 December 2023 106,110 76,744 182,854
NET BOOK VALUE
At 31 December 2023 405,122 29,840 434,962
At 31 December 2022 167,533 23,865 191,398

10. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 5,399,862 4,187,950
Amounts owed by group undertakings 1,829,091 -
Bad debts (52,553 ) (42,137 )
Directors' current accounts 129,621 41,393
S455 Tax Refundable 43,406 13,630
VAT 80,469 261,935
Prepayments and accrued income 74,237 84,915
7,504,133 4,547,686

Amounts falling due after more than one year:
Other debtors 215,063 -

Aggregate amounts 7,719,196 4,547,686

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 377,238 -
Hire purchase contracts (see note 14) 84,554 14,834
Trade creditors 5,418,882 3,890,570
Tax 68,983 61,103
Social security and other taxes 18,815 22,306
Pension payable 2,572 1,975
Accruals and deferred income 1,536,515 1,425,972
Accrued expenses 74,871 38,343
7,582,430 5,455,103

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 313,189 117,111

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Praetura invoice financing 377,238 -

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 84,554 14,834
Between one and five years 313,189 117,111
397,743 131,945

Non-cancellable operating leases
2023 2022
£    £   
Between one and five years 38,000 57,000

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Praetura invoice financing 377,238 -

The invoice finance facility is secured by a fixed and a floating charge (floating charge covers all the property or undertaking of the company).

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 60,845 36,366

Deferred
tax
£   
Balance at 1 January 2023 36,366
Provided during year 24,479
Balance at 31 December 2023 60,845

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
196 Ordinary £1 196 196

18. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 377,635 3,604 381,239
Profit for the year 92,608 92,608
At 31 December 2023 470,243 3,604 473,847

UNITED FRESH CONSORTIUM LIMITED (REGISTERED NUMBER: 06303993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr C Paynton
Balance outstanding at start of year 41,393 27,223
Amounts advanced 88,227 82,304
Amounts repaid - (68,134 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 129,620 41,393

20. ULTIMATE CONTROLLING PARTY

The ultimate parent company is IDKTP Ltd, registered number is 14648350. The ultimate controlling party is Mr C M Paynton.