PTP Accounts Production v24.1.0.578 10699096 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106990962023-03-31106990962024-03-31106990962023-04-012024-03-31106990962022-03-31106990962022-04-012023-03-31106990962023-03-3110699096ns15:EnglandWales2023-04-012024-03-3110699096ns14:PoundSterling2023-04-012024-03-3110699096ns10:Director12023-04-012024-03-3110699096ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110699096ns10:SmallEntities2023-04-012024-03-3110699096ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3110699096ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110699096ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110699096ns10:FullAccounts2023-04-012024-03-3110699096ns10:Director22023-04-012024-03-3110699096ns10:RegisteredOffice2023-04-012024-03-3110699096ns5:CurrentFinancialInstruments2024-03-3110699096ns5:CurrentFinancialInstruments2023-03-3110699096ns5:Non-currentFinancialInstruments2024-03-3110699096ns5:Non-currentFinancialInstruments2023-03-3110699096ns5:ShareCapital2024-03-3110699096ns5:ShareCapital2023-03-3110699096ns5:SharePremium2024-03-3110699096ns5:SharePremium2023-03-3110699096ns5:RetainedEarningsAccumulatedLosses2024-03-3110699096ns5:RetainedEarningsAccumulatedLosses2023-03-3110699096ns5:PlantMachinery2023-04-012024-03-3110699096ns5:FurnitureFittings2023-04-012024-03-3110699096ns5:MotorVehicles2023-04-012024-03-3110699096ns5:PlantMachinery2023-03-3110699096ns5:FurnitureFittings2023-03-3110699096ns5:MotorVehicles2023-03-3110699096ns5:PlantMachinery2024-03-3110699096ns5:FurnitureFittings2024-03-3110699096ns5:MotorVehicles2024-03-3110699096ns5:PlantMachinery2023-03-3110699096ns5:FurnitureFittings2023-03-3110699096ns5:MotorVehicles2023-03-3110699096ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3110699096ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110699096ns5:KeyManagementIndividualGroup12023-04-012024-03-3110699096ns5:KeyManagementIndividualGroup12024-03-31
REGISTERED NUMBER: 10699096 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HUGO'S FRUIT AND VEG LTD

HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

HUGO'S FRUIT AND VEG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T H Sapsed
Ms F Papa-Adams





REGISTERED OFFICE: 73 North Street
Bristol
BS3 1ES





REGISTERED NUMBER: 10699096 (England and Wales)





ACCOUNTANTS: PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL

HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,203 75,347

CURRENT ASSETS
Stocks 10,800 12,000
Debtors 5 192,510 142,477
Cash at bank 31,676 42,365
234,986 196,842
CREDITORS
Amounts falling due within one year 6 211,378 185,677
NET CURRENT ASSETS 23,608 11,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,811

86,512

CREDITORS
Amounts falling due after more than one
year

7

(100,400

)

(51,238

)

PROVISIONS FOR LIABILITIES (15,289 ) (13,157 )
NET (LIABILITIES)/ASSETS (5,878 ) 22,117

HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

BALANCE SHEET - continued
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 44 44
Share premium 3,996 3,996
Retained earnings (9,918 ) 18,077
(5,878 ) 22,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





T H Sapsed - Director


HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Hugo's Fruit and Veg 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
Going concern

The directors consider the use of going concern basis of accounting appropriate. The company has a negative balance sheet value for the year ended 31st March 2024 of £9,918 and a loss of £27,995. The company has disposed of its loss making site and significant funds were directed towards expansion of its principal location. The directors anticipate an improvement in the business' operational performance in the future.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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 17 (2023 - 14 ) .

HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 47,203 22,916 31,668 101,787
Additions 5,834 9,000 31,181 46,015
Grants 6,000 - (6,000 ) -
Reclassification/transfer - - (5,221 ) (5,221 )
At 31 March 2024 59,037 31,916 51,628 142,581
DEPRECIATION
At 1 April 2023 22,996 2,374 1,070 26,440
Charge for year 10,649 6,383 12,906 29,938
At 31 March 2024 33,645 8,757 13,976 56,378
NET BOOK VALUE
At 31 March 2024 25,392 23,159 37,652 86,203
At 31 March 2023 24,207 20,542 30,598 75,347

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 55,273 47,137
Amounts recoverable on contract 6,083 6,083
Other debtors 131,154 89,257
192,510 142,477

HUGO'S FRUIT AND VEG LTD (REGISTERED NUMBER: 10699096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 70,238 77,184
Hire purchase contracts 10,448 11,509
Trade creditors 119,051 105,901
Taxation and social security 8,933 (11,117 )
Other creditors 2,708 2,200
211,378 185,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 34,733 21,296
Other creditors 65,667 29,942
100,400 51,238

8. RELATED PARTY DISCLOSURES

Included within debtors (amounts falling due within one year) is a directors' loan account of £126,597
(2023: £78,489) owed by the director.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T H Sapsed.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HUGO'S FRUIT AND VEG LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hugo's Fruit and Veg Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hugo's Fruit and Veg Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hugo's Fruit and Veg Ltd and state those matters that we have agreed to state to the Board of Directors of Hugo's Fruit and Veg Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hugo's Fruit and Veg Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hugo's Fruit and Veg Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hugo's Fruit and Veg Ltd. You consider that Hugo's Fruit and Veg Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hugo's Fruit and Veg Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL



CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HUGO'S FRUIT AND VEG LTD


16 January 2025