IRIS Accounts Production v24.3.2.46 00220178 Board of Directors 1.7.23 30.6.24 30.6.24 19.3.25 false true false false true false Auditors Opinion Ordinary 1.00000 4.2% First cumulative preference shares 1.00000 4.2% Second cumulative preference shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh002201782023-06-30002201782024-06-30002201782023-07-012024-06-30002201782022-06-30002201782022-07-012023-06-30002201782023-06-3000220178ns15:EnglandWales2023-07-012024-06-3000220178ns14:PoundSterling2023-07-012024-06-3000220178ns10:Director12023-07-012024-06-3000220178ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3000220178ns10:SmallEntities2023-07-012024-06-3000220178ns10:Audited2023-07-012024-06-3000220178ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3000220178ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000220178ns10:FullAccounts2023-07-012024-06-3000220178ns10:OrdinaryShareClass12023-07-012024-06-3000220178ns10:OrdinaryShareClass22023-07-012024-06-3000220178ns10:OrdinaryShareClass32023-07-012024-06-3000220178ns10:Director22023-07-012024-06-3000220178ns10:Director32023-07-012024-06-3000220178ns10:Director42023-07-012024-06-3000220178ns10:Director62023-07-012024-06-3000220178ns10:RegisteredOffice2023-07-012024-06-3000220178ns5:CurrentFinancialInstruments2024-06-3000220178ns5:CurrentFinancialInstruments2023-06-3000220178ns5:ShareCapital2024-06-3000220178ns5:ShareCapital2023-06-3000220178ns5:CapitalRedemptionReserve2024-06-3000220178ns5:CapitalRedemptionReserve2023-06-3000220178ns5:RetainedEarningsAccumulatedLosses2024-06-3000220178ns5:RetainedEarningsAccumulatedLosses2023-06-3000220178ns5:PlantMachinery2023-06-3000220178ns5:PlantMachinery2023-07-012024-06-3000220178ns5:PlantMachinery2024-06-3000220178ns5:PlantMachinery2023-06-3000220178ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3000220178ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3000220178ns5:CurrentFinancialInstruments2023-07-012024-06-3000220178ns10:OrdinaryShareClass12024-06-3000220178ns10:OrdinaryShareClass22024-06-3000220178ns10:OrdinaryShareClass32024-06-30
REGISTERED NUMBER: 00220178 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GERALD MCDONALD (HERBS & SPICES) LIMITED

GERALD MCDONALD (HERBS & SPICES) LIMITED (REGISTERED NUMBER: 00220178)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GERALD MCDONALD (HERBS & SPICES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: G A McDonald
S D Crawford
M G McDonald
M E McDonald
W Smith


REGISTERED OFFICE: Cranes Farm Road
Basildon
Essex
SS14 3GT


REGISTERED NUMBER: 00220178 (England and Wales)


SENIOR STATUTORY AUDITOR: Glenn Armon-Jones ACA FCCA


INDEPENDENT AUDITORS: Barrow LLP
Statutory Auditor
Chartered Accountants
Jackson House
Station Road
Chingford
London
E4 7BU


BANKER: Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB

GERALD MCDONALD (HERBS & SPICES) LIMITED (REGISTERED NUMBER: 00220178)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 8,034 3,319

CURRENT ASSETS
Stocks 498,858 593,618
Debtors 6 262,939 217,436
Cash at bank 737,333 750,508
1,499,130 1,561,562
CREDITORS
Amounts falling due within one year 7 (663,692 ) (729,773 )
NET CURRENT ASSETS 835,438 831,789
TOTAL ASSETS LESS CURRENT LIABILITIES 843,472 835,108

CAPITAL AND RESERVES
Called up share capital 8 10,826 10,826
Capital redemption reserve 1,674 1,674
Retained earnings 830,972 822,608
SHAREHOLDERS' FUNDS 843,472 835,108

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 19 March 2025 and were signed on its behalf by:





S D Crawford - Director


GERALD MCDONALD (HERBS & SPICES) LIMITED (REGISTERED NUMBER: 00220178)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gerald McDonald (Herbs & Spices) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 4.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes.

The company operates one principal area of activity, that of the importation, manufacturing and distribution of spices. The company also operates within three geographical markets, the United Kingdom, Rest of Europe and Rest of the World.

The following criteria must also be met before revenue is recognised:

- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- 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 economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation methods, useful lives and residual values are reviewed should there be an indication of a significant change in expectation of any tangible fixed assets ability to generate future economic benefit.

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write each asset down to its estimated residual value over its expected useful life. 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.

Plant & machinery - 10% on cost

GERALD MCDONALD (HERBS & SPICES) LIMITED (REGISTERED NUMBER: 00220178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, 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.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 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.

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.

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.

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.

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.

GERALD MCDONALD (HERBS & SPICES) LIMITED (REGISTERED NUMBER: 00220178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 49 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 373,723
Additions 5,574
At 30 June 2024 379,297
DEPRECIATION
At 1 July 2023 370,404
Charge for year 859
At 30 June 2024 371,263
NET BOOK VALUE
At 30 June 2024 8,034
At 30 June 2023 3,319

The directors have undertaken an impairment review, which takes into account future cash flows. This exercise has confirmed the "value in use" supports the continued recognition of these assets, with sufficient headroom to accommodate any reasonably foreseeable events or changes in circumstances.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 262,939 217,436

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 95,965 148,230
Amounts owed to group undertakings 561,509 574,548
Taxation and social security 5,955 5,831
Other creditors 263 1,164
663,692 729,773

Amounts owed to group undertakings are all unsecured repayable on demand, and non-interest bearing.

GERALD MCDONALD (HERBS & SPICES) LIMITED (REGISTERED NUMBER: 00220178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
250 Ordinary £1 250 250
3,076 4.2% First cumulative
preference shares £1 3,076 3,076
7,500 4.2% Second cumulative
preference shares £1 7,500 7,500
10,826 10,826

The parent company Gerald McDonald & Company Limited has waived its right to receive dividends on the cumulative preference shares.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Glenn Armon-Jones ACA FCCA (Senior Statutory Auditor)
for and on behalf of Barrow LLP

10. ULTIMATE CONTROLLING PARTY

The controlling party is Gerald McDonald & Company Limited.

The ultimate controlling party is G A McDonald.

G A McDonald is deemed to be the ultimate controlling party by virtue of his major shareholdings in the group and company.

Gerald McDonald (Holdings) Limited is the parent undertaking of the largest and smallest group of undertakings to consolidate these financial statements at 30 June 2024. The consolidated financial statements of Gerald McDonald (Holdings) Limited are available from:

Cranes Farm Road
Basildon
Essex
SS14 3GT