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Registration number: 04911359

Healthfresh Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Healthfresh Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Healthfresh Properties Limited

Company Information

Directors

B W Kerr

R D Arundel

Registered office

Pegasus House
Pegasus Road
Elsham Wold Ind. Estate
Elsham
North Lincolnshire
DN20 0SQ

 

Healthfresh Properties Limited

(Registration number: 04911359)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,469,338

1,445,002

Investments

5

100

100

 

1,469,438

1,445,102

Current assets

 

Debtors

6

419,759

313,992

Cash at bank and in hand

 

613

914

 

420,372

314,906

Creditors: Amounts falling due within one year

7

(1,437,395)

(1,278,086)

Net current liabilities

 

(1,017,023)

(963,180)

Total assets less current liabilities

 

452,415

481,922

Creditors: Amounts falling due after more than one year

7

(243,365)

(277,071)

Net assets

 

209,050

204,851

Capital and reserves

 

Called up share capital

9

50,000

50,000

Other reserves

547,710

547,710

Profit and loss account

(388,660)

(392,859)

Total equity

 

209,050

204,851

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................
R D Arundel
Director

 

Healthfresh Properties Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 04911359.

The address of its registered office is:
Pegasus House
Pegasus Road
Elsham Wold Ind. Estate
Elsham
North Lincolnshire
DN20 0SQ

These financial statements cover the individual entity, Healthfresh Properties Limited.

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 including 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 subject to the departure below.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

Departures from Companies Act requirements

No depreciation has been charged on freehold land and buildings as they are maintained to such a standard that their residual value is not less than their cost. Management have concluded that this does not affect the financial statements from showing a true and fair view. Apart from this departure the company has complied with the relevant accounting standards and legislation.

Going concern

The company is financed by loans from connected companies. These loans are given under no formal agreed repayment terms and no repayment will be demanded in the twelve months from the date of these accounts.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services and rental of property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

 

Healthfresh Properties Limited

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

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements and current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Freehold land and buildings are measured at fair value at each reporting date with changes in fair value recognised in the revaluation reserve. The fair value is based on the estimated open market value with vacant possession.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance and 2% and 10% straight line

Fixture and fittings

25% reducing balance and 33% straight line

Freehold land and buildings

No depreciation is charged

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Healthfresh Properties Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company during the year, including directors, was 2 (2023 - 2).

 

Healthfresh Properties Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2023

1,320,000

2,823

183,064

1,505,887

Additions

-

-

38,717

38,717

At 31 July 2024

1,320,000

2,823

221,781

1,544,604

Depreciation

At 1 August 2023

-

2,823

58,063

60,886

Charge for the year

-

-

14,380

14,380

At 31 July 2024

-

2,823

72,443

75,266

Carrying amount

At 31 July 2024

1,320,000

-

149,338

1,469,338

At 31 July 2023

1,320,000

-

125,002

1,445,002

The fair value of the company's freehold land and buildings was valued on 31 July 2023 by Savills. The basis of this valuation was current open market value. Had this class of asset been measured on historical cost basis, the cost would have been £828,444 (2023 - £828,444) and the carrying amount would have been £713,520 (2023 - £713,520). The depreciation on this historical cost would have been £114,924 (2023 - £114,924).

 

Healthfresh Properties Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 August 2023 and 31 July 2023

100

Carrying amount

At 31 July 2024

100

At 31 July 2023

100

6

Debtors

Current

2024
£

2023
£

Trade debtors

234,235

201,825

Prepayments and accrued income

76,285

4,162

Other debtors

109,239

108,005

 

419,759

313,992

Details of non-current trade and other debtors

£105,886 (2023 -£107,346) of other debtors is classified as non current.

£2,200 (2023 -£2,600) of prepayments is classified as non current.

 

Healthfresh Properties Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

35,566

34,006

Trade creditors

 

795,022

638,692

Taxation and social security

 

30,683

28,577

Accruals and deferred income

 

7,948

8,634

Other creditors

 

568,176

568,177

 

1,437,395

1,278,086

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Bank loans

8

243,365

277,071

Included in the loans and borrowings are the following amounts due after more than five years:

Creditor amounts falling due within one year on which security has been given includes a bank loan of £35,567 (2023 - £34,006).

Creditor amounts falling due after one year on which security has been given includes a bank loan of £243,365 (2023 - £277,071)

The bank loan is secured by a charge over the company's freehold land and buildings and a guarantee from Arundel Kerr Produce Limited.

Creditors include bank loans repayable by instalments of £69,629.00 (2023 - £116,606.00) due after more than five years.

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

243,365

277,071

 

Healthfresh Properties Limited

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

Current loans and borrowings

2024
£

2023
£

Bank borrowings

35,566

34,006

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

50,000

50,000

50,000

50,000

       

10

Related party transactions

Income and receivables from related parties

2024

Other related parties
£

Amounts receivable from related party

229,436

2023

Other related parties
£

Amounts receivable from related party

197,026

Expenditure with and payables to related parties

2024

Other related parties
£

Amounts payable to related party

1,292,525

2023

Other related parties
£

Amounts payable to related party

1,193,018