Company registration number 13344321 (England and Wales)
VEGAN VEGETABLES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
VEGAN VEGETABLES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
VEGAN VEGETABLES LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
973,484
646,419
Current assets
Stocks
-
500
Debtors
4
106,959
58,514
Cash at bank and in hand
15,168
506
122,127
59,520
Creditors: amounts falling due within one year
5
(433,931)
(720,599)
Net current liabilities
(311,804)
(661,079)
Total assets less current liabilities
661,680
(14,660)
Creditors: amounts falling due after more than one year
6
(569,096)
-
Net assets/(liabilities)
92,584
(14,660)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
92,582
(14,662)
Total equity
92,584
(14,660)
VEGAN VEGETABLES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
Mrs Katharine Nundy
Director
Company registration number 13344321 (England and Wales)
VEGAN VEGETABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Vegan Vegetables Limited is a private company limited by shares incorporated in England and Wales. The registered office is Windy Ridge House, Hubberts Bridge Road, Kirton Holme, Boston, Lincs, PE20 1TW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Going concern

The ongoing trade of the company relies upon the continued support of the companies’ directors and shareholders. On the basis that there is no reason to believe this support will cease, the directors’ continue to adopt the going concern method in preparing the financial statements. true

 

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rentals provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% Straightline
Leasehold land and buildings
10% Straightline
Fixtures and fittings
15% Straightline
Computers
33% Reducing Balance
Motor vehicles
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

VEGAN VEGETABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
-
0
VEGAN VEGETABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
559,697
88,339
648,036
Additions
231,019
138,880
369,899
At 30 April 2024
790,716
227,219
1,017,935
Depreciation and impairment
At 1 May 2023
302
1,315
1,617
Depreciation charged in the year
16,793
26,041
42,834
At 30 April 2024
17,095
27,356
44,451
Carrying amount
At 30 April 2024
773,621
199,863
973,484
At 30 April 2023
559,395
87,024
646,419
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
106,721
172
Other debtors
238
58,342
106,959
58,514
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
44,116
-
0
Trade creditors
107,643
391,454
Taxation and social security
5,144
-
0
Other creditors
277,028
329,145
433,931
720,599

Bank loans of £44,116 (2023: £Nil) are secured by way of fixed and floating charge over all company assets including land held at Kirton Holme. Additional guarantees have been given by an associated company to which the directors and shareholders are also directors and shareholders of.

 

Obligations under finance lease and hire purchase contracts included in other creditors of £25,649 (2023: £Nil) were secured against the assets to which the finance relates.

 

 

VEGAN VEGETABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
504,459
-
0
Other creditors
64,637
-
0
569,096
-
0
Creditors which fall due after five years are payable as follows:
Payable by instalments
283,469
-

Bank loans of £504,459 (2023: £Nil) are secured by way of fixed and floating charge over all company assets including land held at Kirton Holme. Additional guarantees have been given by an associated company to which the directors and shareholders are also directors and shareholders of.

 

Obligations under finance lease and hire purchase contracts included in other creditors of £64,637 (2023: £Nil) were secured against the assets to which the finance relates.

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