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Company Registration No. 4650724 (England and Wales)
Class One Fresh Produce Limited Unaudited accounts for the year ended 29 February 2024
Class One Fresh Produce Limited Unaudited accounts Contents
Page
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Class One Fresh Produce Limited Company Information for the year ended 29 February 2024
Directors
CJ Cluny Mrs D Cluny BJ Cluny M Holmes
Secretary
Mrs D Cluny
Company Number
4650724 (England and Wales)
Registered Office
Unit 5 Cawder Park Snaygill Industrial Estate Skipton North Yorkshire BD23 2QR
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
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Class One Fresh Produce Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
786,251 
753,432 
Current assets
Inventories
140,453 
153,652 
Debtors
462,619 
447,720 
Cash at bank and in hand
174,539 
131,566 
777,611 
732,938 
Creditors: amounts falling due within one year
(848,307)
(717,469)
Net current (liabilities)/assets
(70,696)
15,469 
Total assets less current liabilities
715,555 
768,901 
Creditors: amounts falling due after more than one year
(167,996)
(314,504)
Provisions for liabilities
Deferred tax
(92,840)
(65,934)
Net assets
454,719 
388,463 
Capital and reserves
Called up share capital
7 
7 
Profit and loss account
454,712 
388,456 
Shareholders' funds
454,719 
388,463 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2024 and were signed on its behalf by
BJ Cluny Director Company Registration No. 4650724
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Class One Fresh Produce Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Class One Fresh Produce Limited is a private company, limited by shares, registered in England and Wales, registration number 4650724. The registered office is Unit 5 Cawder Park, Snaygill Industrial Estate, Skipton, North Yorkshire, BD23 2QR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
in accordance with the property
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Class One Fresh Produce Limited Notes to the Accounts for the year ended 29 February 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
50,000 
At 29 February 2024
50,000 
Amortisation
At 1 March 2023
50,000 
At 29 February 2024
50,000 
Net book value
At 29 February 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2023
429,690 
135,959 
532,412 
177,940 
1,276,001 
Additions
- 
- 
125,165 
2,853 
128,018 
Disposals
- 
- 
(172,044)
- 
(172,044)
At 29 February 2024
429,690 
135,959 
485,533 
180,793 
1,231,975 
Depreciation
At 1 March 2023
14,799 
102,346 
280,617 
124,807 
522,569 
Charge for the year
- 
6,723 
53,374 
8,398 
68,495 
On disposals
- 
- 
(145,340)
- 
(145,340)
At 29 February 2024
14,799 
109,069 
188,651 
133,205 
445,724 
Net book value
At 29 February 2024
414,891 
26,890 
296,882 
47,588 
786,251 
At 28 February 2023
414,891 
33,613 
251,795 
53,133 
753,432 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
440,900 
425,778 
Other debtors
21,719 
21,942 
462,619 
447,720 
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Class One Fresh Produce Limited Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
266,437 
269,435 
Obligations under finance leases and hire purchase contracts
82,737 
11,935 
Trade creditors
421,228 
423,427 
Taxes and social security
74,932 
9,699 
Accruals
2,973 
2,973 
848,307 
717,469 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
77,917 
183,333 
Obligations under finance leases and hire purchase contracts
90,079 
131,171 
167,996 
314,504 
9
Average number of employees
During the year the average number of employees was 47 (2023: 41).
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