15 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 5,600 5,600 100 35 65 65 100 xbrli:pure xbrli:shares iso4217:GBP 10437606 2024-01-01 2024-12-31 10437606 2024-12-31 10437606 2023-12-31 10437606 2023-01-01 2023-12-31 10437606 2023-12-31 10437606 2022-12-31 10437606 core:FurnitureFittings 2024-01-01 2024-12-31 10437606 core:NetGoodwill 2024-01-01 2024-12-31 10437606 bus:Director1 2024-01-01 2024-12-31 10437606 bus:Director5 2024-01-01 2024-12-31 10437606 core:NetGoodwill 2024-12-31 10437606 core:FurnitureFittings 2023-12-31 10437606 core:FurnitureFittings 2024-12-31 10437606 core:WithinOneYear 2024-12-31 10437606 core:WithinOneYear 2023-12-31 10437606 core:ShareCapital 2024-12-31 10437606 core:ShareCapital 2023-12-31 10437606 core:RetainedEarningsAccumulatedLosses 2024-12-31 10437606 core:RetainedEarningsAccumulatedLosses 2023-12-31 10437606 core:BetweenOneFiveYears 2024-12-31 10437606 core:BetweenOneFiveYears 2023-12-31 10437606 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 10437606 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-12-31 10437606 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 10437606 core:Non-currentFinancialInstruments 2024-12-31 10437606 core:Non-currentFinancialInstruments 2023-12-31 10437606 core:FurnitureFittings 2023-12-31 10437606 bus:Director2 2024-01-01 2024-12-31 10437606 bus:SmallEntities 2024-01-01 2024-12-31 10437606 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10437606 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10437606 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10437606 bus:FullAccounts 2024-01-01 2024-12-31 10437606 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 10437606 core:FurnitureFittingsToolsEquipment 2023-12-31 10437606 core:FurnitureFittingsToolsEquipment 2024-12-31 10437606 core:Goodwill 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 10437606
Growers Direct Limited
Filleted Unaudited Financial Statements
31 December 2024
Growers Direct Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Growers Direct Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
12,192
8,767
Investments
7
65
100
--------
-------
12,257
8,867
Current assets
Stocks
265,305
253,177
Debtors
8
1,530,260
1,755,355
Cash at bank and in hand
606,075
327,565
------------
------------
2,401,640
2,336,097
Creditors: amounts falling due within one year
9
1,817,097
1,808,979
------------
------------
Net current assets
584,543
527,118
---------
---------
Total assets less current liabilities
596,800
535,985
Provisions
( 13,103)
( 16,637)
---------
---------
Net assets
609,903
552,622
---------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
609,893
552,612
---------
---------
Shareholders funds
609,903
552,622
---------
---------
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 income and retained earnings has not been delivered.
For the year 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 year 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 .
Growers Direct Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 16 April 2025 , and are signed on behalf of the board by:
Mr P F Broadhurst
Mr A Harding
Director
Director
Company registration number: 10437606
Growers Direct Limited
Notes to the Financial Statements
Year ended 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 4, Harrison Suite, The Nostell Estate Yard, Nostell, Wakefield, WF4 1AB, England.
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 for goods supplied and services rendered, stated net of discounts and 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
100% in year of acquisition
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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% straight line
Mobile phones are included as fixed assets in equipment but are depreciated using the straight line method at a rate of 50%. All other equipment is depreciated at 33% 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 instruments 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 an arrangement constitutes a finance transaction it is measured at 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 year amounted to 15 (2023: 14 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
5,600
-------
Amortisation
At 1 January 2024 and 31 December 2024
5,600
-------
Carrying amount
At 31 December 2024
-------
At 31 December 2023
-------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024
11,248
24,479
35,727
Additions
7,888
4,813
12,701
Disposals
( 1,623)
( 1,783)
( 3,406)
--------
--------
--------
At 31 December 2024
17,513
27,509
45,022
--------
--------
--------
Depreciation
At 1 January 2024
8,450
18,510
26,960
Charge for the year
3,489
4,839
8,328
Disposals
( 676)
( 1,782)
( 2,458)
--------
--------
--------
At 31 December 2024
11,263
21,567
32,830
--------
--------
--------
Carrying amount
At 31 December 2024
6,250
5,942
12,192
--------
--------
--------
At 31 December 2023
2,798
5,969
8,767
--------
--------
--------
7. Investments
Shares in group undertakings
£
Cost
At 1 January 2024
100
Disposals
( 35)
----
At 31 December 2024
65
----
Impairment
At 1 January 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
65
----
At 31 December 2023
100
----
8. Debtors
2024
2023
£
£
Trade debtors
1,296,463
1,671,422
Amounts owed by group undertakings and undertakings in which the company has a participating interest
186,287
29,900
Other debtors
47,510
54,033
------------
------------
1,530,260
1,755,355
------------
------------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,494,449
1,392,836
Corporation tax
83,513
99,385
Other creditors
239,135
316,758
------------
------------
1,817,097
1,808,979
------------
------------
The company has a bank overdraft which is secured by means of a fixed and floating debenture over the assets of the company.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
37,669
37,104
Later than 1 year and not later than 5 years
53,012
51,656
--------
--------
90,681
88,760
--------
--------
At the year end, the company held hire cars under an operating lease agreement over three years, which was entered into in July 2023. The company also held operating leases for offices, with one being a five year commitment ending in August 2028, and the other two being over three years and ending in February 2026 and October 2027.
11. Related party transactions
At the year end, the company was owed £186,287 (2023: £29,900) by a subsidiary. At year end, trade debtors included £272 (2023: £7,858) due from group undertakings and trade creditors included £339,994 (2023: £207,053) due to group undertakings.