Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2023-06-01falseNo description of principal activity2427true 02026598 2023-06-01 2024-05-31 02026598 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2023-06-01 2024-05-31 02026598 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2023-06-01 2024-05-31 02026598 c:KeyManagementIndividualGroup3 c:OtherTransactionType3 2023-06-01 2024-05-31 02026598 c:KeyManagementIndividualGroup4 c:OtherTransactionType4 2023-06-01 2024-05-31 02026598 c:KeyManagementIndividualGroup5 c:OtherTransactionType5 2023-06-01 2024-05-31 02026598 2022-06-01 2023-05-31 02026598 2024-05-31 02026598 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2024-05-31 02026598 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2024-05-31 02026598 c:KeyManagementIndividualGroup3 c:OtherTransactionType3 2024-05-31 02026598 c:KeyManagementIndividualGroup4 c:OtherTransactionType4 2024-05-31 02026598 c:KeyManagementIndividualGroup5 c:OtherTransactionType5 2024-05-31 02026598 2023-05-31 02026598 d:Director2 2023-06-01 2024-05-31 02026598 c:Buildings 2023-06-01 2024-05-31 02026598 c:Buildings 2024-05-31 02026598 c:Buildings 2023-05-31 02026598 c:Buildings c:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02026598 c:PlantMachinery 2023-06-01 2024-05-31 02026598 c:PlantMachinery 2024-05-31 02026598 c:PlantMachinery 2023-05-31 02026598 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02026598 c:MotorVehicles 2023-06-01 2024-05-31 02026598 c:MotorVehicles 2024-05-31 02026598 c:MotorVehicles 2023-05-31 02026598 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02026598 c:FurnitureFittings 2023-06-01 2024-05-31 02026598 c:FurnitureFittings 2024-05-31 02026598 c:FurnitureFittings 2023-05-31 02026598 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02026598 c:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02026598 c:Goodwill 2023-06-01 2024-05-31 02026598 c:Goodwill 2024-05-31 02026598 c:Goodwill 2023-05-31 02026598 c:CurrentFinancialInstruments 2024-05-31 02026598 c:CurrentFinancialInstruments 2023-05-31 02026598 c:Non-currentFinancialInstruments 2024-05-31 02026598 c:Non-currentFinancialInstruments 2023-05-31 02026598 c:CurrentFinancialInstruments c:WithinOneYear 2024-05-31 02026598 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 02026598 c:Non-currentFinancialInstruments c:AfterOneYear 2024-05-31 02026598 c:Non-currentFinancialInstruments c:AfterOneYear 2023-05-31 02026598 c:ShareCapital 2024-05-31 02026598 c:ShareCapital 2023-05-31 02026598 c:CapitalRedemptionReserve 2024-05-31 02026598 c:CapitalRedemptionReserve 2023-05-31 02026598 c:RevaluationReserve 2024-05-31 02026598 c:RevaluationReserve 2023-05-31 02026598 c:RetainedEarningsAccumulatedLosses 2024-05-31 02026598 c:RetainedEarningsAccumulatedLosses 2023-05-31 02026598 d:FRS102 2023-06-01 2024-05-31 02026598 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02026598 d:FullAccounts 2023-06-01 2024-05-31 02026598 d:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02026598 6 2023-06-01 2024-05-31 02026598 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 02026598










COLLMART GROWERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
COLLMART GROWERS LIMITED
REGISTERED NUMBER:02026598

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2
2

Tangible assets
 5 
1,818,649
2,012,068

Investments
 6 
28,100
28,100

  
1,846,751
2,040,170

Current assets
  

Stocks
  
141,842
196,935

Debtors
 7 
4,117,498
4,039,502

Bank and cash balances
  
-
242

  
4,259,340
4,236,679

Creditors: amounts falling due within one year
 8 
(2,273,907)
(2,317,274)

Net current assets
  
 
 
1,985,433
 
 
1,919,405

Total assets less current liabilities
  
3,832,184
3,959,575

Creditors: amounts falling due after more than one year
 9 
(386,268)
(544,805)

Provisions for liabilities
  

Deferred tax
  
(334,842)
(368,581)

Net assets
  
3,111,074
3,046,189


Capital and reserves
  

Called up share capital 
  
150,000
150,000

Revaluation reserve
  
36,149
36,149

Capital redemption reserve
  
50,000
50,000

Profit and loss account
  
2,874,925
2,810,040

  
3,111,074
3,046,189


Page 1

 
COLLMART GROWERS LIMITED
REGISTERED NUMBER:02026598
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr N J Collett
Director

Date: 24 February 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Collmart Growers Limited (“the company”) is a private company limited by shares incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information.
The functional and presentational currency of the company is pounds sterling (£) rounded to the nearest whole pound.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

Page 3

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
4% on cost
Plant and machinery
-
10% on cost
Motor vehicles
-
25% on cost
Fixtures and fittings
-
10% - 25% on cost

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
 
Investments in non-derivative instruments that are equity to the issuer are measured:
• at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
• at cost less impairment for all other investments.
 
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive Income.
 
Page 5

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
 
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

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.

 
2.11

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.

  
2.12

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 other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 6

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year 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 income 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.



3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 27).

Page 7

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
2



At 31 May 2024

2






Net book value



At 31 May 2024
2



At 31 May 2023
2




5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 June 2023
2,258,569
4,235,389
182,585
36,455
6,712,998


Additions
-
66,900
-
-
66,900


Disposals
-
(24,000)
-
-
(24,000)



At 31 May 2024

2,258,569
4,278,289
182,585
36,455
6,755,898



Depreciation


At 1 June 2023
1,253,277
3,354,968
58,654
34,031
4,700,930


Charge for the year on owned assets
55,509
167,951
19,299
760
243,519


Disposals
-
(7,200)
-
-
(7,200)



At 31 May 2024

1,308,786
3,515,719
77,953
34,791
4,937,249



Net book value



At 31 May 2024
949,783
762,570
104,632
1,664
1,818,649



At 31 May 2023
1,005,292
880,421
123,931
2,424
2,012,068

Page 8

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 June 2023
28,100



At 31 May 2024
28,100




The company has two wholly owned subsidiary companies, CG Biogas Limited and Collmart CS Limited.


7.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
373,131
373,131

Due within one year

Trade debtors
856,905
724,378

Amounts owed by group undertakings
1,558
19,159

Other debtors
2,152,984
2,283,944

Prepayments and accrued income
732,920
638,890

4,117,498
4,039,502


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Page 9

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,052,617
637,484

Bank loans
-
40,158

Trade creditors
370,400
783,778

Corporation tax
78,071
134,411

Other taxation and social security
13,235
41,983

Obligations under finance lease and hire purchase contracts
222,972
242,793

Other creditors
92,418
88,925

Accruals and deferred income
444,194
347,742

2,273,907
2,317,274


Bank loans and overdrafts falling due within one year totalling £1,052,617 (2023: £677,642) are secured by the company.
Obligations under finance leases and hire purchase contracts falling due within one year totalling £222,972 (2023: £242,793) are secured by the company.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under finance leases and hire purchase contracts
386,268
544,805


Obligations under finance leases and hire purchase contracts falling due after more than one year totalling £386,268 (2023: £544,805) are secured by the company.


10.


Transactions with directors

At the balance sheet date the director owed the company £113,977 (2023: £111,444). Advances made to the director in the year totalled £nil (2023: £nil) and repayments made totalled £nil (2023: £nil). Interest totalling £2,533 (2023: £2,205) has been charged on this balance. This balance has been included within other debtors falling due within one year. This balance is unsecured and repayable on demand.

Page 10

 
COLLMART GROWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Related party transactions

Included within other debtors is a balance owed from Holme Wood Property Developments Limited, a company with directors and shareholders in common, totalling £392,512 (2023: £345,163).
Also included within other debtors is a balance owed from DJC Farms Limited, a company with directors and shareholders in common, totalling £1,208,922 (2023: £1,563,188).
Also included within other debtors is a balance owed from Great Shelford Ten Acres Limited, a company with directors and shareholders in common, totalling £23,626 (2023: £19,998). 
Also included within other debtors is a balance owed from Bio Diversity Net Gain Partnership Ltd, a company with directors and shareholders in common, totalling £303,495 (2023: £160,805). 
Also included within other debtors is a balance owed from Cre8tive Living Limited, a company with directors and shareholders in common, totalling £12,104 (2023: £4,584). 
Also included within other debtors is a balance owed from Ladyseat Farms Limited, a company with directors and shareholders in common, totalling £473 (2023: £1,888). 
Also included within other debtors is a balance owed from Manor Farm Mendip Ltd, a company with directors and shareholders in common, totalling £53,900 (2023: £36,237).
Also included within other debtors is a balance owed from TFB 2 Ltd, a company with directors and shareholders in common, totalling £6,980 (2023: £nil).
Included within other creditors is a balance due to NJC & Sons Farms LLP, a partnership with partners in common, totalling £3,493 (2023: £8,582 included within other debtors).
Included within other creditors is a balance due to a director of the company of £88,925 (2023: £88,925). 
All balances are unsecured, interest free and repayable on demand.

 
Page 11