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No description of principal activity
2023-11-15
Sage Accounts Production Advanced 2024 - FRS102_2024
84
84
84
xbrli:pure
xbrli:shares
iso4217:GBP
15287440
2023-11-15
2024-12-31
15287440
2024-12-31
15287440
2023-11-14
15287440
core:FurnitureFittings
2023-11-15
2024-12-31
15287440
bus:Director1
2023-11-15
2024-12-31
15287440
core:FurnitureFittings
2024-12-31
15287440
core:WithinOneYear
2024-12-31
15287440
core:ShareCapital
2024-12-31
15287440
core:RetainedEarningsAccumulatedLosses
2024-12-31
15287440
core:BetweenOneFiveYears
2024-12-31
15287440
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-12-31
15287440
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
15287440
core:Non-currentFinancialInstruments
2024-12-31
15287440
bus:SmallEntities
2023-11-15
2024-12-31
15287440
bus:AuditExemptWithAccountantsReport
2023-11-15
2024-12-31
15287440
bus:SmallCompaniesRegimeForAccounts
2023-11-15
2024-12-31
15287440
bus:PrivateLimitedCompanyLtd
2023-11-15
2024-12-31
15287440
bus:FullAccounts
2023-11-15
2024-12-31
15287440
core:OfficeEquipment
2023-11-15
2024-12-31
15287440
core:OfficeEquipment
2024-12-31
15287440
core:AllAssociates
2023-11-15
2024-12-31
COMPANY REGISTRATION NUMBER:
15287440
Destination Produce Limited |
|
Filleted Unaudited Financial Statements |
|
Destination Produce Limited |
|
Period from 15 November 2023 to 31 December 2024
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Destination Produce Limited |
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
Tangible assets |
5 |
6,912 |
Investments |
6 |
84 |
|
------- |
|
6,996 |
|
|
|
Current assets
Stocks |
89,893 |
Debtors |
7 |
566,342 |
Cash at bank and in hand |
197,828 |
|
--------- |
|
854,063 |
|
|
|
Creditors: amounts falling due within one year |
8 |
749,753 |
|
--------- |
Net current assets |
104,310 |
|
--------- |
Total assets less current liabilities |
111,306 |
|
|
|
Provisions |
(
1,728) |
|
--------- |
Net assets |
109,578 |
|
--------- |
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
109,478 |
|
--------- |
Shareholders funds |
109,578 |
|
--------- |
|
|
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.
For the period ending 31 December 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 financial statements for the period 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 financial statements
.
Destination Produce Limited |
|
Statement of Financial Position (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
14 March 2025
, and are signed on behalf of the board by:
Company registration number:
15287440
Destination Produce Limited |
|
Notes to the Financial Statements |
|
Period from 15 November 2023 to 31 December 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 Office 12 Red Lion Quarter, Red Lion Street, Spalding, PE11 1SX, 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
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.
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:
|
Fixtures and fittings |
- |
33% straight line |
|
Equipment |
- |
33% - 50% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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 liabilities and equity instuments are classified 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 and arrangement constitutes a finance transaction it is measured at the 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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
5
.
5.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 15 November 2023 |
– |
– |
– |
Additions |
946 |
9,171 |
10,117 |
|
---- |
------- |
-------- |
At 31 December 2024 |
946 |
9,171 |
10,117 |
|
---- |
------- |
-------- |
Depreciation |
|
|
|
At 15 November 2023 |
– |
– |
– |
Charge for the period |
236 |
2,969 |
3,205 |
|
---- |
------- |
-------- |
At 31 December 2024 |
236 |
2,969 |
3,205 |
|
---- |
------- |
-------- |
Carrying amount |
|
|
|
At 31 December 2024 |
710 |
6,202 |
6,912 |
|
---- |
------- |
-------- |
|
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 15 November 2023 |
– |
Additions |
84 |
|
---- |
At 31 December 2024 |
84 |
|
---- |
Impairment |
|
At 15 November 2023 and 31 December 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 December 2024 |
84 |
|
---- |
|
|
7.
Debtors
|
31 Dec 24 |
|
£ |
Trade debtors |
540,040 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
3,313 |
Other debtors |
22,989 |
|
--------- |
|
566,342 |
|
--------- |
|
|
8.
Creditors:
amounts falling due within one year
|
31 Dec 24 |
|
£ |
Trade creditors |
492,198 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
186,287 |
Corporation tax |
35,070 |
Social security and other taxes |
8,289 |
Other creditors |
27,909 |
|
--------- |
|
749,753 |
|
--------- |
|
|
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
31 Dec 24 |
|
£ |
Not later than 1 year |
10,392 |
Later than 1 year and not later than 5 years |
14,722 |
|
-------- |
|
25,114 |
|
-------- |
|
|
At period end, the company held an operating lease for an office, being a three year commitment ending in May 2027.
10.
Related party transactions
At period end, the company was owed £3,313 by a subsidiary and owed £186,287 to its holding company.
11.
Controlling party
The ultimate parent company is
Growers Direct Limited
, a company registered in England and Wales. The registered office of the ultimate controlling party is Office 4, Harrison Suite, The Nostell Yard, Nostell, Wakefield, WF4 1AB, England
.