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Registration number: 08725499

P.G.L. Fresh Produce Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

P.G.L. Fresh Produce Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

P.G.L. Fresh Produce Services Ltd

Company Information

Director

Mr P G Lacey

Registered office

Unit 1
Freemantle Business Centre
152 Millbrook Road East
Southampton
Hampshire
SO15 1JR

Accountants

Mandair & Co.
Chartered AccountantsPartnership House
84 Lodge Road
Southampton
Hampshire
SO14 6RG

 

P.G.L. Fresh Produce Services Ltd

(Registration number: 08725499)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

12,696.00

5,385.00

Current assets

 

Debtors

6

204,371.00

137,649.00

Cash at bank and in hand

 

213,779.00

193,123.00

 

418,150.00

330,772.00

Creditors: Amounts falling due within one year

7

-306,765.00

-229,595.00

Net current assets

 

111,385.00

101,177.00

Total assets less current liabilities

 

124,081.00

106,562.00

Provisions for liabilities

-2,412.00

-406.00

Net assets

 

121,669.00

106,156.00

Capital and reserves

 

Called up share capital

100.00

100.00

Retained earnings

121,569.00

106,056.00

Shareholders' funds

 

121,669.00

106,156.00

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2025
 

.........................................
Mr P G Lacey
Director

 

P.G.L. Fresh Produce Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1
Freemantle Business Centre
152 Millbrook Road East
Southampton
Hampshire
SO15 1JR
United Kingdom

These financial statements were authorised for issue by the director on 20 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

P.G.L. Fresh Produce Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum

Office equipment

25% per annum

Office

10% per annum

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

P.G.L. Fresh Produce Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

28,388.00

28,388.00

At 31 October 2024

28,388.00

28,388.00

Amortisation

At 1 November 2023

28,388.00

28,388.00

At 31 October 2024

28,388.00

28,388.00

Carrying amount

At 31 October 2024

0.00

0.00

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

5,393.00

8,000.00

13,393.00

Additions

0.00

11,745.00

11,745.00

Disposals

0.00

-8,000.00

-8,000.00

At 31 October 2024

5,393.00

11,745.00

17,138.00

Depreciation

At 1 November 2023

809.00

7,199.00

8,008.00

Charge for the year

697.00

2,936.00

3,633.00

Eliminated on disposal

0.00

-7,199.00

-7,199.00

At 31 October 2024

1,506.00

2,936.00

4,442.00

Carrying amount

At 31 October 2024

3,887.00

8,809.00

12,696.00

At 31 October 2023

4,584.00

801.00

5,385.00

 

P.G.L. Fresh Produce Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

204,055.00

137,396.00

Other debtors

316.00

253.00

 

204,371.00

137,649.00

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

194,322.00

117,292.00

Taxation and social security

3,810.00

8,265.00

Accruals and deferred income

1,000.00

1,000.00

Other creditors

107,633.00

103,038.00

306,765.00

229,595.00