3
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
2023-05-01
Sage Accounts Production Advanced 2024 - FRS102_2024
37,280
365
37,645
34,095
1,135
35,230
2,415
3,185
xbrli:pure
xbrli:shares
iso4217:GBP
07561336
2023-05-01
2024-04-30
07561336
2024-04-30
07561336
2023-04-30
07561336
2022-05-01
2023-04-30
07561336
2023-04-30
07561336
2022-04-30
07561336
core:PlantMachinery
2023-05-01
2024-04-30
07561336
bus:RegisteredOffice
2023-05-01
2024-04-30
07561336
bus:Director1
2023-05-01
2024-04-30
07561336
bus:Director2
2023-05-01
2024-04-30
07561336
core:PlantMachinery
2023-04-30
07561336
core:PlantMachinery
2024-04-30
07561336
core:WithinOneYear
2024-04-30
07561336
core:WithinOneYear
2023-04-30
07561336
core:AfterOneYear
2024-04-30
07561336
core:AfterOneYear
2023-04-30
07561336
core:ShareCapital
2024-04-30
07561336
core:ShareCapital
2023-04-30
07561336
core:CapitalRedemptionReserve
2024-04-30
07561336
core:CapitalRedemptionReserve
2023-04-30
07561336
core:RetainedEarningsAccumulatedLosses
2024-04-30
07561336
core:RetainedEarningsAccumulatedLosses
2023-04-30
07561336
core:PlantMachinery
2023-04-30
07561336
bus:Director1
2023-04-30
07561336
bus:SmallEntities
2023-05-01
2024-04-30
07561336
bus:AuditExempt-NoAccountantsReport
2023-05-01
2024-04-30
07561336
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
07561336
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
07561336
bus:FullAccounts
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
07561336
Filleted Unaudited Reports and Accounts |
|
Year ended 30 April 2024
The directors present their report and the unaudited Reports and Accounts of the company for the year ended
30 April 2024
.
Principal activities
The company's principal activity is the sale of fruit and vegetables to wholesalers, shops and the catering trade.
Directors
The directors who served the company during the year were as follows:
Mr M Martinez Fernandez |
|
Dr E V Beltran |
|
|
|
Business review
Harvest Direct Ltd
continues to be a leading supplier of fresh fruit and vegetables in the UK, with an established network of growers and farmers and a specialist procurement team importing the highest quality fruit and vegetables from around the world.
The key performance indicators are turnover which has increased by 20% in comparison to 2023, resulting in a gross profit percentage increase of 6%. However, during the year a new client, a company which had been established for over 30 years and was a major supplier to UK supermarkets, went into administration resulting in an irrecoverable bad debt of over £300,000 owed to
Harvest Direct Ltd
. The bad debt has been written off and has resulted in the company generating a loss overall for the year to 30 April 2024. Since this event, the company has strived to recover from this loss, increasing its current level of activity, and is predicting a 3.5% increase on gross profit for 2024/25.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
4 November 2024
and signed on behalf of the board by:
Mr M Martinez Fernandez |
Director |
|
Registered office: |
Earlsfield Business Centre |
9 Lydden Road |
London |
SW18 4LT |
|
Statement of Financial Position |
|
30 April 2024
Fixed assets
Tangible assets |
5 |
2,415 |
3,185 |
|
|
|
|
Current assets
Debtors |
6 |
712,725 |
579,525 |
Cash at bank and in hand |
175,079 |
219,086 |
|
--------- |
--------- |
|
887,804 |
798,611 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
621,786 |
396,935 |
|
--------- |
--------- |
Net current assets |
266,018 |
401,676 |
|
--------- |
--------- |
Total assets less current liabilities |
268,433 |
404,861 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
23,060 |
34,120 |
|
--------- |
--------- |
Net assets |
245,373 |
370,741 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
40 |
40 |
Capital redemption reserve |
60 |
60 |
Profit and loss account |
245,273 |
370,641 |
|
--------- |
--------- |
Shareholders funds |
245,373 |
370,741 |
|
--------- |
--------- |
|
|
|
These Reports and Accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its Reports and Accounts for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Reports and Accounts
.
Statement of Financial Position (continued) |
|
30 April 2024
These Reports and Accounts were approved by the
board of directors
and authorised for issue on
4 November 2024
, and are signed on behalf of the board by:
Mr M Martinez Fernandez |
Director |
|
Company registration number:
07561336
Notes to the Reports and Accounts |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Earlsfield Business Centre, 9 Lydden Road, London, SW18 4LT.
2.
Statement of compliance
These Reports and Accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The Reports and Accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The Reports and Accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
20% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 May 2023 |
37,280 |
Additions |
365 |
|
-------- |
At 30 April 2024 |
37,645 |
|
-------- |
Depreciation |
|
At 1 May 2023 |
34,095 |
Charge for the year |
1,135 |
|
-------- |
At 30 April 2024 |
35,230 |
|
-------- |
Carrying amount |
|
At 30 April 2024 |
2,415 |
|
-------- |
At 30 April 2023 |
3,185 |
|
-------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
427,691 |
272,053 |
Other debtors |
285,034 |
307,472 |
|
--------- |
--------- |
|
712,725 |
579,525 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
558,954 |
102,948 |
Corporation tax |
– |
47,730 |
Other creditors |
(673) |
246,257
|
Other creditors |
63,505 |
– |
|
--------- |
--------- |
|
621,786 |
396,935 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
23,060 |
34,120 |
|
-------- |
-------- |
|
|
|
9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
Balance brought forward and outstanding |
|
2024 |
2023 |
|
£ |
£ |
Mr M Martinez Fernandez |
(
63,505) |
– |
|
-------- |
---- |
|
|
|