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REGISTERED NUMBER: 03245048 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Accent Fresh Limited

Accent Fresh Limited (Registered number: 03245048)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Accent Fresh Limited (Registered number: 03245048)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £ £
Fixed assets
Tangible assets 4 1,021,653 1,044,328
Investments 5 50 -
1,021,703 1,044,328

Current assets
Stocks 131,746 140,788
Debtors 6 982,654 1,139,426
Cash at bank and in hand 243,949 237,455
1,358,349 1,517,669
Creditors
Amounts falling due within one year 7 (1,267,434 ) (1,326,719 )
Net current assets 90,915 190,950
Total assets less current liabilities 1,112,618 1,235,278

Creditors
Amounts falling due after more than one
year

8

(468,519

)

(521,615

)

Provisions for liabilities (182,795 ) (182,516 )
Net assets 461,304 531,147

Accent Fresh Limited (Registered number: 03245048)

Balance Sheet - continued
30 September 2024

30.9.24 30.9.23
Notes £ £
Capital and reserves
Called up share capital 100 100
Share premium 9,251 9,251
Revaluation reserve 10 19,724 20,761
Capital redemption reserve 50 50
Retained earnings 432,179 500,985
461,304 531,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 18 February 2025 and were signed on its behalf by:





Mr S Short - Director


Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets and liabilities.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these financial statements.

Turnover
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.

Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 5/4% straight line basis
Plant and machinery - 20% on cost
Fixtures and fittings - 20 to 33.3% straight line basis
Motor vehicles - 20% on cost
Coldstore - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recoginsed in profit or loss.

The company has elected to use a previous UK GAAP revaluation as deemed cost at transition, under FRS 102, section 35.10 (d).

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. Accounting policies - continued

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.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 73 (2023 - 73 ) .

Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Cost or valuation
At 1 October 2023 1,519,095 149,068 115,100
Additions - - 7,032
Disposals - - -
At 30 September 2024 1,519,095 149,068 122,132
Depreciation
At 1 October 2023 740,568 135,356 113,025
Charge for year 48,241 4,788 2,122
Eliminated on disposal - - -
At 30 September 2024 788,809 140,144 115,147
Net book value
At 30 September 2024 730,286 8,924 6,985
At 30 September 2023 778,527 13,712 2,075

Motor
vehicles Coldstore Totals
£ £ £
Cost or valuation
At 1 October 2023 644,278 232,724 2,660,265
Additions 145,895 - 152,927
Disposals (91,795 ) - (91,795 )
At 30 September 2024 698,378 232,724 2,721,397
Depreciation
At 1 October 2023 394,264 232,724 1,615,937
Charge for year 86,924 - 142,075
Eliminated on disposal (58,268 ) - (58,268 )
At 30 September 2024 422,920 232,724 1,699,744
Net book value
At 30 September 2024 275,458 - 1,021,653
At 30 September 2023 250,014 - 1,044,328

Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. Tangible fixed assets - continued

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Valuation in 2013 34,972 - -
Cost 1,484,123 149,068 122,132
1,519,095 149,068 122,132

Motor
vehicles Coldstore Totals
£ £ £
Valuation in 2013 - - 34,972
Cost 698,378 232,724 2,686,425
698,378 232,724 2,721,397

If freehold property had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£ £
Cost 1,484,123 1,484,123
Aggregate depreciation 767,418 720,214

Freehold property and land were valued on an open market basis basis on 13 March 2013 by Guy Gowing MRICS partner of Arnold Keys .

5. Fixed asset investments
Other
investments
£
Cost
Additions 50
At 30 September 2024 50
Net book value
At 30 September 2024 50

Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. Debtors: amounts falling due within one year
30.9.24 30.9.23
£ £
Trade debtors 899,070 1,051,353
Other debtors 83,584 88,073
982,654 1,139,426

7. Creditors: amounts falling due within one year
30.9.24 30.9.23
£ £
Bank loans and overdrafts 70,262 26,614
Hire purchase contracts 108,443 86,095
Trade creditors 742,357 822,008
Taxation and social security 100,366 135,298
Other creditors 246,006 256,704
1,267,434 1,326,719

8. Creditors: amounts falling due after more than one year
30.9.24 30.9.23
£ £
Bank loans 311,392 345,991
Hire purchase contracts 157,127 175,624
468,519 521,615

9. Secured debts

The following secured debts are included within creditors:

30.9.24 30.9.23
£ £
Bank overdraft 39,655 -
Bank loans 341,999 372,605
Hire purchase contracts 265,570 261,719
647,224 634,324

All monies due or to become due from the company are secured by way of debentures and legal charges over plots 3,4,5 and 6 St Johns Industrial Estate.

Creditors relating to hire purchase agreements are secured on the assets to which they relate.

Accent Fresh Limited (Registered number: 03245048)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


10. Reserves
Revaluation
reserve
£
At 1 October 2023 20,761
Transfer from revaluation
reserve (1,037 )

At 30 September 2024 19,724

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

11. Related party disclosures

During the year there were no transactions with the directors, (2023: £Nil). As at the balance sheet date, the company owed the directors £1,270 (2023: £1,270).

Dividends totalling £237,902 (2023 £206,194) were paid to the shareholders of the company during the period.

No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.