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REGISTERED NUMBER: 00497206 (England and Wales)


















Associated Growers (Hull) Limited

Unaudited Financial Statements for the Year Ended 29th February 2024






Associated Growers (Hull) Limited (Registered number: 00497206)






Contents of the Financial Statements
for the year ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Associated Growers (Hull) Limited

Company Information
for the year ended 29th February 2024







DIRECTORS: P R Hough
D Mellows





SECRETARY: Mrs D Hough





REGISTERED OFFICE: Unit 7 Priory Market
Henry Boot Way
Priory Park East
Hull
East Yorkshire
HU4 7EA





REGISTERED NUMBER: 00497206 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Associated Growers (Hull) Limited (Registered number: 00497206)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 306,356 287,786
Investment property 5 450,000 450,000
756,356 737,786

CURRENT ASSETS
Stocks 17,247 17,736
Debtors 6 59,176 72,931
Cash at bank and in hand 242,570 270,925
318,993 361,592
CREDITORS
Amounts falling due within one year 7 81,220 74,255
NET CURRENT ASSETS 237,773 287,337
TOTAL ASSETS LESS CURRENT
LIABILITIES

994,129

1,025,123

PROVISIONS FOR LIABILITIES 88,605 82,266
NET ASSETS 905,524 942,857

CAPITAL AND RESERVES
Called up share capital 1,560 1,560
Revaluation reserve 158,768 158,768
Fair value reserve 201,266 201,266
Retained earnings 543,930 581,263
SHAREHOLDERS' FUNDS 905,524 942,857

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

Associated Growers (Hull) Limited (Registered number: 00497206)

Balance Sheet - continued
29th February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st July 2024 and were signed on its behalf by:





P R Hough - Director


Associated Growers (Hull) Limited (Registered number: 00497206)

Notes to the Financial Statements
for the year ended 29th February 2024

1. STATUTORY INFORMATION

Associated Growers (Hull) 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Depreciation
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings- 2% on cost
Plant and machinery etc- 10% and 25% on cost

Investment property
Investment properties for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow- moving stock where appropriate.


Associated Growers (Hull) Limited (Registered number: 00497206)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

Associated Growers (Hull) Limited (Registered number: 00497206)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st March 2023 315,000 134,443 449,443
Additions - 40,544 40,544
Disposals - (17,999 ) (17,999 )
At 29th February 2024 315,000 156,988 471,988
DEPRECIATION
At 1st March 2023 56,000 105,657 161,657
Charge for year 7,000 14,974 21,974
Eliminated on disposal - (17,999 ) (17,999 )
At 29th February 2024 63,000 102,632 165,632
NET BOOK VALUE
At 29th February 2024 252,000 54,356 306,356
At 28th February 2023 259,000 28,786 287,786

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023
and 29th February 2024 450,000
NET BOOK VALUE
At 29th February 2024 450,000
At 28th February 2023 450,000

Investment property was valued on an open market basis on 29 February 2024 by a director.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,979 61,460
Other debtors 5,197 11,471
59,176 72,931

Associated Growers (Hull) Limited (Registered number: 00497206)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,725 38,145
Taxation and social security 22,676 18,246
Other creditors 32,819 17,864
81,220 74,255

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

2024 2023
£    £   
P R Hough
Balance outstanding at start of year 2,524 -
Amounts advanced - 66,767
Amounts repaid (2,524 ) (64,243 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,524

This amount was interest free and repayable on demand.