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Registered number: 02499280









G'S GROWERS (RAMSEY) LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 4 MAY 2024

 
G'S GROWERS (RAMSEY) LIMITED
 

COMPANY INFORMATION


Directors
J R Foskett 
C J Shrophire (appointed 18 October 2023)
A M Dugdale 
T E J Young (appointed 18 October 2023)




Registered number
02499280



Registered office
Barway Road
Barway

Ely

Cambridgeshire

CB7 5TZ




Independent auditors
Price Bailey LLP
Chartered Accountants & Statutory Auditors

Tennyson House

Cambridge Business Park

Cambridge

CB4 0WZ





 
G'S GROWERS (RAMSEY) LIMITED
 

CONTENTS



Page
Directors' Report
 
 
1 - 2
Independent Auditors' Report
 
 
3 - 6
Statement of Income and Retained Earnings
 
 
7
Balance Sheet
 
 
8
Notes to the Financial Statements
 
 
9 - 19


 
G'S GROWERS (RAMSEY) LIMITED
 

 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 4 MAY 2024

The directors present their report and the financial statements for the period ended 4 May 2024.

Directors

The directors who served during the period were:

J R Foskett 
C J Shrophire (appointed 18 October 2023)
A M Dugdale 
T E J Young (appointed 18 October 2023)

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

make judgments 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
G'S GROWERS (RAMSEY) LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 4 MAY 2024


Auditors

Under section 487(2) of the Companies Act 2006Price Bailey LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 18 December 2024 and signed on its behalf.
 







................................................
A M Dugdale
Director

Page 2

 
G'S GROWERS (RAMSEY) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G'S GROWERS (RAMSEY) LIMITED
 

Opinion


We have audited the financial statements of G's Growers (Ramsey) Limited (the 'Company') for the period ended 4 May 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe 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 4 May 2024 and of its loss for the period 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 United Kingdom, including the Financial Reporting Council'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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Page 3

 
G'S GROWERS (RAMSEY) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G'S GROWERS (RAMSEY) LIMITED (CONTINUED)


Opinion 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 Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has 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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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 is 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.


Page 4

 
G'S GROWERS (RAMSEY) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G'S GROWERS (RAMSEY) LIMITED (CONTINUED)


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 an Auditors' Report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in  which it operates and considered the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. This included those regulations directly related to the financial statements, including financial reporting, tax legislation and distributable profits and industry regulations including GDPR, employment law and health and safety. 
We communicated the identified laws and regulations with the audit team and remained alert to any indications
of non-compliance throughout the audit. We carried out specific procedures to address the risks identified.
These included the following:
-agreeing the financial statement disclosures to underlying supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
-enquiries of management including those responsible for key regulations;
-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
-reviewing minutes of board meetings.
In addressing the risk of management override of controls, we carried out testing of journal entries and other
adjustments for appropriateness, assessing whether the judgements made in making accounting estimates are
indicative of a potential bias and evaluating the business rationale of significant transactions outside the normal
course of business.
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 Auditors' Report.


Page 5

 
G'S GROWERS (RAMSEY) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G'S GROWERS (RAMSEY) LIMITED (CONTINUED)


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 2006Our 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 an Auditors' Report 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.







Paul Cullen FCCA (Senior Statutory Auditor)
  
for and on behalf of
Price Bailey LLP
 
Chartered Accountants
Statutory Auditors
  
Tennyson House
Cambridge Business Park
Cambridge
CB4 0WZ

6 January 2025
Page 6

 
G'S GROWERS (RAMSEY) LIMITED
 

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE PERIOD ENDED 4 MAY 2024

2024
2023
£000
£000


Turnover
9,867
11,875

Cost of sales
(4,841)
(6,365)

Gross profit
5,026
5,510

Administrative expenses
(5,463)
(5,311)

Operating (loss)/profit
(437)
199

Interest payable and similar expenses
(200)
(198)

(Loss)/profit before tax
(637)
1

(Loss)/profit after tax
(637)
1



Retained earnings at the beginning of the period
618
617

(Loss)/profit for the period
(637)
1

Retained earnings at the end of the period
(19)
618
The notes on pages 9 to 19 form part of these financial statements.

Page 7

 
G'S GROWERS (RAMSEY) LIMITED
REGISTERED NUMBER: 02499280

BALANCE SHEET
AS AT 4 MAY 2024

4 May
6 May
2024
2023
Note
£000
£000

Fixed assets
  

Tangible assets
 6 
3,363
3,744

Current assets
  

Stocks
 7 
254
295

Debtors: amounts falling due within one year
 8 
1,052
2,466

Cash at bank and in hand
 9 
6
66

Current laibilites
  
1,312
2,827

Creditors: amounts falling due within one year
 10 
(4,232)
(5,853)

Net current liabilities
  
 
 
(2,920)
 
 
(3,026)

Total assets less current liabilities
  
443
718

Creditors: amounts falling due after more than one year
 11 
(362)
-

  

Net assets
  
81
718


Capital and reserves
  

Called up share capital 
 14 
100
100

Profit and loss account
  
(19)
618

  
81
718


The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 December 2024.






................................................
A M Dugdale
Director

The notes on pages 9 to 19 form part of these financial statements.

Page 8

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

1.


General information

G's Growers (Ramsey) Limited is a Private company limited by shares incorporated in United Kingdom. The registered office is Barway Road, Barway, Ely, Cambridgeshire, CB7 5TZ.
The nature of the Company's operations and principal activities is that of contract grading and packing services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared in Pounds Sterling which is the functional currency of the Company rounded to the nearest £000.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Cash Flow

The company is considered a qualifying entity for the purpose of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements which include the company and are intended to give a true and fair view.
The company is therefore exempt from the requirement to prepare a cash flow statement.

 
2.3

Going concern

The directors are monitoring all non-essential operating costs and are confident that the Company has sufficient cash reserves and working capital along with group support to enable liabilities to be settled as they fall due and to continue trading for the foreseeable future, being a period of not less than 12 months from the date of approval of these financial statements. 
The financial statements have been prepared on a going concern basis and do not include any adjustments that would result if the Company was not able to continue as a going concern.

Page 9

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 10

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold improvements
-
3 to 25 years straight line
Plant and machinery
-
4 to 10 years straight line
Motor vehicles
-
2 to 10 years straight line
Office equipment
-
3 to 4 years straight line
Integral to a building
-
3 to 25 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 11

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

2.Accounting policies (continued)

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.16

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 12

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements relating to depreciation and accruals are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.


4.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2024
        2023
            No.
            No.







Production
103
133



Management, Administration & Commercial
28
31

131
164


5.


Taxation


2024
2023
£000
£000



Total current tax
-
-

Deferred tax

Total deferred tax
-
-


Tax on (loss)/profit
-
-
Page 13

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024
 
5.Taxation (continued)


Factors affecting tax charge for the period

The tax assessed for the period is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 25%) as set out below:

2024
2023
£000
£000


(Loss)/profit on ordinary activities before tax
(637)
1


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
(159)
-

Effects of:


Capital allowances for period in excess of depreciation
(7)
(1,021)

Unrelieved tax losses carried forward
166
1,021

Total tax charge for the period
-
-


Factors that may affect future tax charges

The company has estimated losses of £2,390,352  (2023 - £578,046) available to carry forward against future trading profits. 

Page 14
 


 
G'S GROWERS (RAMSEY) LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024


6.


Tangible fixed assets









Freehold property
Plant and machinery
Office equipment
Other fixed assets
Total

£000
£000
£000
£000
£000



Cost


At 7 May 2023
45
6,318
74
64
6,501


Additions
-
146
-
-
146



At 4 May 2024

45
6,464
74
64
6,647



Depreciation


At 7 May 2023
22
2,622
68
45
2,757


Charge for the period on owned assets
2
518
5
2
527



At 4 May 2024

24
3,140
73
47
3,284



Net book value



At 4 May 2024
21
3,324
1
17
3,363



At 6 May 2023
23
3,696
6
19
3,744

Page 15
 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

7.


Stocks

4 May
6 May
2024
2023
£000
£000

Raw materials and consumables
254
295



8.


Debtors

4 May
6 May
2024
2023
£000
£000


Trade debtors
138
1,231

Amounts owed by group undertakings
298
439

Other debtors
611
1

Prepayments and accrued income
-
790

Deferred taxation
5
5

1,052
2,466



9.


Cash and cash equivalents

4 May
6 May
2024
2023
£000
£000

Cash at bank and in hand
6
66

Less: bank overdrafts
(816)
-

(810)
66


Page 16

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

10.


Creditors: Amounts falling due within one year

4 May
6 May
2024
2023
£000
£000

Bank overdrafts
816
-

Trade creditors
337
581

Amounts owed to group undertakings
1,950
4,260

Other taxation and social security
109
124

Obligations under finance lease and hire purchase contracts
150
-

Other creditors
386
365

Accruals
484
523

4,232
5,853



11.


Creditors: Amounts falling due after more than one year

4 May
6 May
2024
2023
£000
£000

Net obligations under finance leases and hire purchase contracts
362
-



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

4 May
6 May
2024
2023
£000
£000


Within one year
150
-

Between 1-5 years
362
-

512
-

Page 17

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

13.


Deferred taxation






2024
2023


£000

£000






At beginning of year
5
5



At end of year
5
5

The deferred tax asset is made up as follows:

4 May
6 May
2024
2023
£000
£000


Accelerated capital allowances
5
5

5
5


14.


Share capital

4 May
6 May
2024
2023
£000
£000
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary Share Capital shares of £1.00 each
100
100



15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £225,000 (2023 - £183,000). Contributions totalling £25,500 (2023 - £52,000) were payable to the fund at the balance sheet date and are included in creditors.


16.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.

Page 18

 
G'S GROWERS (RAMSEY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 MAY 2024

17.


Related party transactions

The Company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned group companies. The company is a wholly owed subsidiary of G's Growers Limited.
Only the directors are considered to be key management personnel. Total remuneration in respect of these individuals is £31,200 (2023 - £25,000).


18.


Controlling party

The immediate and ultimate parent company is G's Growers Limited, a company registered in United Kingdom. Copies of its consolidated financial statements can be obtained from Barway Road, Barway, Ely, Cambridgeshire, CB7 5TZ.
In the opinion of the Directors, there is no ultimate controlling party.


Page 19