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COMPANY REGISTRATION NUMBER: 10233376
All Greens Wholesale Limited
Filleted Financial Statements
31 May 2024
All Greens Wholesale Limited
Financial Statements
Year ended 31 May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
All Greens Wholesale Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
657,745
695,921
Investments
6
205
205
---------
---------
657,950
696,126
Current assets
Stocks
94,632
39,700
Debtors
7
1,441,139
1,341,150
Cash at bank and in hand
166,249
157,597
------------
------------
1,702,020
1,538,447
Creditors: amounts falling due within one year
8
2,278,993
2,069,795
------------
------------
Net current liabilities
576,973
531,348
---------
---------
Total assets less current liabilities
80,977
164,778
Creditors: amounts falling due after more than one year
9
38,400
54,466
Provisions
17,900
17,900
--------
---------
Net assets
24,677
92,412
--------
---------
Capital and reserves
Called up share capital
1
1
Share premium account
49,550
49,550
Profit and loss account
( 24,874)
42,861
--------
--------
Shareholders funds
24,677
92,412
--------
--------
These financial statements 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 comprehensive income has not been delivered.
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.
All Greens Wholesale Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 20 February 2025 , and are signed on behalf of the board by:
D A Josephs
Director
Company registration number: 10233376
All Greens Wholesale Limited
Notes to the Financial Statements
Year ended 31 May 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements 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 financial statements 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the going concern basis and relies on the ongoing support of the directors and the other group companies.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.
Income 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Tangible assets
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 accumulated 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:
Long leasehold property
-
Depreciated in line with the remaining legth of the lease to March 2035
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 37 (2023: 37 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jun 2023
588,784
5,844
10,509
260,254
18,730
884,121
Additions
2,994
1,670
53,800
10,123
68,587
Disposals
( 10,976)
( 10,976)
---------
-------
--------
---------
--------
---------
At 31 May 2024
588,784
8,838
12,179
303,078
28,853
941,732
---------
-------
--------
---------
--------
---------
Depreciation
At 1 Jun 2023
52,840
4,235
7,772
112,538
10,815
188,200
Charge for the year
45,292
1,528
1,217
53,565
5,161
106,763
Disposals
( 10,976)
( 10,976)
---------
-------
--------
---------
--------
---------
At 31 May 2024
98,132
5,763
8,989
155,127
15,976
283,987
---------
-------
--------
---------
--------
---------
Carrying amount
At 31 May 2024
490,652
3,075
3,190
147,951
12,877
657,745
---------
-------
--------
---------
--------
---------
At 31 May 2023
535,944
1,609
2,737
147,716
7,915
695,921
---------
-------
--------
---------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 June 2023 and 31 May 2024
205
----
Impairment
At 1 June 2023 and 31 May 2024
----
Carrying amount
At 31 May 2024
205
----
At 31 May 2023
205
----
The above investments relate to a 100% shareholding in Ripe.London Limited and 100% shareholding in AG Exotics Limited.
7. Debtors
2024
2023
£
£
Trade debtors
853,030
748,484
Amounts owed by group undertakings and undertakings in which the company has a participating interest
424,198
469,763
Other debtors
163,911
122,903
------------
------------
1,441,139
1,341,150
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,134,994
967,462
Amounts owed to group undertakings and undertakings in which the company has a participating interest
802,020
753,920
Social security and other taxes
34,566
31,355
Other creditors
307,413
317,058
------------
------------
2,278,993
2,069,795
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
38,400
54,466
--------
--------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
178,449
178,449
Later than 1 year and not later than 5 years
148,707
148,707
---------
---------
327,156
327,156
---------
---------
11. Summary audit opinion
The auditor's report dated 20 February 2025 was unqualified .
The senior statutory auditor was Colin Reid , for and on behalf of Burgess Hodgson LLP .
12. Related party transactions
The company has not disclosed transactions with other companies in the same group as consolidated accounts are prepared by the ultimate holding company, All Greens Holdings Limited. The assets of the company are secured against a loan in a group company.
13. Controlling party
The company is a subsidiary of All Greens London Limited a company incorporated in the United Kingdom. The results of the company are consolidated in the group headed by the ultimate parent company All Greens Holdings Limited . The registered office of both All Greens London Limited and All Greens Holdings Limited is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN .