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REGISTERED NUMBER: SC249181 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

SWANSONS FRUIT COMPANY LIMITED

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWANSONS FRUIT COMPANY LIMITED

Company Information
for the Year Ended 31 July 2024







DIRECTORS: S Air
M W Swanson





REGISTERED OFFICE: Orchard House
3 Henderson Drive
Inverness
IV1 1TR





REGISTERED NUMBER: SC249181 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 552,875 461,143
552,875 461,143

CURRENT ASSETS
Stocks 44,273 34,580
Debtors 6 339,888 330,856
Cash at bank and in hand 137,464 108,277
521,625 473,713
CREDITORS
Amounts falling due within one year 7 (583,292 ) (620,959 )
NET CURRENT LIABILITIES (61,667 ) (147,246 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,208

313,897

CREDITORS
Amounts falling due after more than one
year

8

(98,817

)

(45,437

)

PROVISIONS FOR LIABILITIES (43,955 ) (17,514 )
NET ASSETS 348,436 250,946

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 347,436 249,946
SHAREHOLDERS' FUNDS 348,436 250,946

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

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

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Balance Sheet - continued
31 July 2024


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 4 March 2025 and were signed on its behalf by:





M W Swanson - Director


SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

SWANSONS FRUIT COMPANY LIMITED is a private company, limited by shares , registered in Scotland. 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
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. The financial statements have been prepared under the historical cost convention.

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

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% straight line
Plant and machinery etc - 33% straight line, 25% straight line and 15% reducing balance

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.

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.

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 36 (2023 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 9,000
AMORTISATION
At 1 August 2023
and 31 July 2024 9,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 421,545 457,070 878,615
Additions - 187,946 187,946
Disposals - (74,846 ) (74,846 )
At 31 July 2024 421,545 570,170 991,715
DEPRECIATION
At 1 August 2023 47,757 369,715 417,472
Charge for year 8,431 80,390 88,821
Eliminated on disposal - (67,453 ) (67,453 )
At 31 July 2024 56,188 382,652 438,840
NET BOOK VALUE
At 31 July 2024 365,357 187,518 552,875
At 31 July 2023 373,788 87,355 461,143

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023 93,753
Additions 171,073
At 31 July 2024 264,826
DEPRECIATION
At 1 August 2023 44,360
Charge for year 59,370
At 31 July 2024 103,730
NET BOOK VALUE
At 31 July 2024 161,096
At 31 July 2023 49,393

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 290,293 290,776
Other debtors 49,595 40,080
339,888 330,856

SWANSONS FRUIT COMPANY LIMITED (Registered number: SC249181)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,092 62,567
Hire purchase contracts 64,230 26,145
Trade creditors 408,364 414,191
Taxation and social security 71,297 94,522
Other creditors 35,309 23,534
583,292 620,959

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,044 23,464
Hire purchase contracts 89,773 21,973
98,817 45,437