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Registered number: SC328914
The Fresh Food Company (2007) Limited
Strategic Report, Director's Report and
Financial Statements
For The Year Ended 31 August 2024
Henderson Kildavaig
109/14 Swanston Road
Edinburgh
EH10 7DS
Contents
Page
Strategic Report 1
Director's Report 2—3
Independent Auditor's Report 4—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—20
Page 1
Strategic Report
The director presents his strategic report for the year ended 31 August 2024.
Review of the Business
The main performance measures used by the Company are sales, profits and cash generation.  
Sales were slightly down on the prior year at £12,529,975 (2023 - £12,927,588) after years of sustained growth. Gross margin increased in absolute terms to £2,958,821 (2023 - £2,945,646) with the effective gross margin increased at 23.7% (2023: 22.8%).
Selling & distribution costs have increased by £137,152 to £1,478,039 (2023 - £1,340,887), administrative expenses have also increased to £846,218 (2023 - £771,225). Pre-tax profits have decreased to £627,976 (2023 - £819,090). The business continues to be self-funding and has maintained strong cash balances throughout the year with a cash balance of £443,780 at the year end (2023 - £404,349).
Principal Risks and Uncertainties
The Company's principal financial instruments comprise cash and cash equivalents. 
The Company has various other financial assets and liabilities, including trade debtors and trade creditors that arise directly from its operations.
It is, and has been throughout the year under review, the Company's policy that no trading in other financial instruments of a speculative nature shall be undertaken.
The principal risks associated with the Company's financial assets and liabilities are set out below:
Interest rate risk
The Company is predominately self-funded and expects to continue to be so during the coming financial year. The Company's financial assets are therefore not significantly exposed to interest rate risk.
Price risk
There is no significant exposure to changes in the carrying value of financial instruments, assets and liabilities, except short term fluctuations in stock prices due to availability.
Credit risk
The majority of sales transactions to third parties are on credit terms and therefore the Company is exposed to external credit risk. This is managed internally through efficient credit control procedures both on a proactive and reactive basis. 
Liquidity risk
The Company aims to mitigate liquidity risk by managing cash generated by its operations. The Company has operated a strongly positive cash-flow position over a number of years.
On behalf of the board
Paul Thompson
Director
30 May 2025
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 August 2024.
Principal Activity
The company's principal activity continues to be that of the wholesale distribution of friut and vegetables.
Future Developments
The Company has continued to trade well in the period following the year end, with sales and operating profit consistent with the year to 31 August 2024. The Company expects growth in sales within Q3 and Q4 that will extend through to financial year 2025.
Dividends
The value of dividends paid amounted to £520,000 .
The director does not recommended a final dividend.
Directors
The director who held office during the year were as follows:
Paul Thompson
Post Balance Sheet Events
On 15 November 2024 the Company entered into an agreement to purchase the entire issued share capital, being 12 Ordinary shares of £1 each, of Turriffs (Montrose) Limited. 
On 23 December 2024 the Company entered into an agreement to purchase the trade and assets of Les Turriff Limited.
Statement of Director's Responsibilities
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Director's Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, Ballantyne & Company Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Paul Thompson
Director
30 May 2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of The Fresh Food Company (2007) Limited for the year ended 31 August 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of changes in Equity, Statement of Cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.
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Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of director's remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Director's Responsibilities Statement set out on page 2—3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
• Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation;
• we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships;
• tested journal entries recorded on the Company’s finance system to identify unusual transactions that may indicate override of controls;
• reviewed key judgements and estimates for any evidence of management bias; and
• reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation; and
• enquiring of management to identify actual and potential litigation and claims.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 5
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Other matters
Comparative information in the financial statements is derived from the company's prior period financial statements which were not audited.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Dalvir S. Johal CA (Senior Statutory Auditor)
for and on behalf of Ballantyne & Company Limited , Statutory Auditor
30 May 2025
Ballantyne & Company Limited
60 St Enoch Square
Glasgow
G1 4AG
Page 6
Page 7
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3 12,529,975 12,927,588
Cost of sales (9,571,154 ) (9,981,942 )
GROSS PROFIT 2,958,821 2,945,646
Distribution costs (1,478,039 ) (1,340,887 )
Administrative expenses (846,219 ) (780,029 )
OPERATING PROFIT 4 634,563 824,730
Profit on disposal of fixed assets - 8,804
Interest payable and similar charges 9 (6,588 ) (14,444 )
PROFIT BEFORE TAXATION 627,975 819,090
Tax on Profit 10 (157,282 ) (220,740 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 470,693 598,350
The notes on pages 12 to 20 form part of these financial statements.
Page 7
Page 8
Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 470,693 598,350
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 470,693 598,350
Page 8
Page 9
Balance Sheet
Registered number: SC328914
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 314,485 314,991
314,485 314,991
CURRENT ASSETS
Stocks 13 145,708 152,570
Debtors 14 1,954,374 1,935,096
Cash at bank and in hand 443,779 404,349
2,543,861 2,492,015
Creditors: Amounts Falling Due Within One Year 15 (2,186,912 ) (1,833,682 )
NET CURRENT ASSETS (LIABILITIES) 356,949 658,333
TOTAL ASSETS LESS CURRENT LIABILITIES 671,434 973,324
Creditors: Amounts Falling Due After More Than One Year 16 - (253,125 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (68,156 ) (67,614 )
NET ASSETS 603,278 652,585
CAPITAL AND RESERVES
Called up share capital 20 100 100
Profit and Loss Account 603,178 652,485
SHAREHOLDERS' FUNDS 603,278 652,585
On behalf of the board
Paul Thompson
Director
30 May 2025
The notes on pages 12 to 20 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 September 2022 100 554,135 554,235
Profit for the year and total comprehensive income - 598,350 598,350
Dividends paid - (500,000) (500,000)
As at 31 August 2023 and 1 September 2023 100 652,485 652,585
Profit for the year and total comprehensive income - 470,693 470,693
Dividends paid - (520,000) (520,000)
As at 31 August 2024 100 603,178 603,278
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 978,456 1,141,702
Interest paid (6,588 ) (14,444 )
Tax paid (19,707 ) (224,541 )
Net cash generated from operating activities 952,161 902,717
Cash flows from investing activities
Purchase of tangible assets (205,231 ) (173,772 )
Proceeds from disposal of tangible assets - 8,804
Net cash used in investing activities (205,231 ) (164,968 )
Cash flows from financing activities
Equity dividends paid (520,000 ) (500,000 )
Repayment of bank borrowings (187,500 ) (191,375 )
Net cash used in financing activities (707,500 ) (691,375 )
Increase in cash and cash equivalents 39,430 46,374
Cash and cash equivalents at beginning of year 2 404,349 357,975
Cash and cash equivalents at end of year 2 443,779 404,349
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 470,693 598,350
Adjustments for:
Tax on profit 157,282 220,740
Interest expense 6,588 14,444
Depreciation of tangible assets 205,737 182,581
Profit on disposal of tangible assets - (8,804)
Movements in working capital:
Decrease/(increase) in stocks 6,862 (2,570 )
Increase in trade and other debtors (19,278 ) (226,854 )
Increase in trade and other creditors 150,572 363,815
Net cash generated from operations 978,456 1,141,702
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 443,779 404,349
3. Analysis of changes in net funds
As at 1 September 2023 Cash flows As at 31 August 2024
£ £ £
Cash at bank and in hand 404,349 39,430 443,779
Debts falling due within one year (75,000 ) (65,625) (140,625 )
Debts falling due after more than one year (253,125) 253,125 -
76,224 226,930 303,154
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Notes to the Financial Statements
1. General Information
The Fresh Food Company (2007) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC328914 . The registered office is 5 Drum Mains Park, Cumbernauld, Glasgow, G68 9LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the Company.  Monetary amounts in the financial statements are rounded to the nearest £GBP.
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates.  It aslo requires management to exercise judgement in applying the Company's accounting policies (see note 2.2).
The following principal accounting policies have been applied:
2.2. Significant judgements and estimations
In preparation of the financial statements the director is required to make judgements, estimates and
assumptions that affect the application of policies and reported amounts of asset and liabilities, income
and expenses. The estimates and associated assumptions are based upon historical experience and
various other factors that are believed to be reasonable under the circumstances, the results of which
form the basis of making the judgements about carrying values of assets and liabililties that are not readily
apparent from other sources. Actual results may differ from these estimates. The judgements, estimates
and assumptions which have a significant risk of causing a material adjustment to the carrying amount of
assets and liabilities are discussed below.
In preparing these financial statements, the director has had to make the following judgements:
Determine whether leases entered into by the Company either as a lessor or a lessee are operating or
lease or finance leases. These decisions depend on an assessment of wether the risks and rewards of
ownership have been transferred from the lessor to the lessee on a lease by lease basis.
Determine whether there are indicators of impairment of the Company's tangible and intangible assets,
including goodwill. Factors taken into consideration in reaching such a decision include the economic
viability and expected future financial performance of the asset. The Company has recognised provisions
for impairment on trade receivables, post year end credit notes in respect of revenue, and income tax in
its financial statements which requires the director to make judgements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.10. Provisions and Contingencies
Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.
2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.12. Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the
balance sheet date and carried forward to future periods. This is measured at the undiscounted
salary cost of the future holiday entitlement so accrued at the balance sheet date.
2.13. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at
an annual general meeting.
3. Turnover
Analysis of turnover by class of business is as follows:
2024 2023
£ £
Wholesale 12,529,975 12,927,588
Analysis of turnover by geographical market is as follows:
2024 2023
£ £
United Kingdom 12,529,975 12,927,588
12,529,975 12,927,588
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4. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts (16,305) (10,507)
Depreciation of tangible fixed assets 205,737 182,581
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 15,500 11,000
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 2,403,980 2,130,267
Social security costs 221,413 216,084
Other pension costs 31,479 26,842
2,656,872 2,373,193
7. Average Number of Employees
Average number of employees, including directors, during the year was: 83 (2023: 79)
83 79
8. Director's remuneration
2024 2023
£ £
Emoluments 19,970 19,636
9. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 6,588 7,736
Other finance charges - 6,708
6,588 14,444
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10. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 21.5% 156,740 177,100
Prior period adjustment - 27,824
156,740 204,924
Deferred Tax
Deferred taxation 542 15,816
Total tax charge for the period 157,282 220,740
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 627,975 819,090
Tax on profit at 25% (UK standard rate) 156,994 176,104
Expenses not deductible for tax purposes 288 406
Short term timing differences - 16,406
Prior period adjustment - 27,824
Total tax charge for the period 157,282 220,740
11. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 61,899
As at 31 August 2024 61,899
Amortisation
As at 1 September 2023 61,899
As at 31 August 2024 61,899
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
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12. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 709,211 816,205 15,205 1,540,621
Additions 90,126 115,105 - 205,231
As at 31 August 2024 799,337 931,310 15,205 1,745,852
Depreciation
As at 1 September 2023 651,720 558,705 15,205 1,225,630
Provided during the period 48,064 157,673 - 205,737
As at 31 August 2024 699,784 716,378 15,205 1,431,367
Net Book Value
As at 31 August 2024 99,553 214,932 - 314,485
As at 1 September 2023 57,491 257,500 - 314,991
13. Stocks
2024 2023
£ £
Finished goods 145,708 152,570
14. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,784,718 1,769,131
Other debtors 169,656 165,965
1,954,374 1,935,096
15. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,436,796 1,210,191
Bank loans and overdrafts 140,625 75,000
Amounts owed to participating interests 65,769 56,508
Other creditors 25,711 23,237
Corporation tax 342,013 204,980
Taxation and social security 50,461 35,881
Accruals and deferred income 125,537 227,885
2,186,912 1,833,682
16. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 253,125
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17. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 140,625 75,000
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans - 253,125
18. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 68,156 67,614
19. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 September 2023 67,614 67,614
Additions 542 542
Balance at 31 August 2024 68,156 68,156
20. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
21. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £31,479 (2023: £26,842).
At the balance sheet date contributions of £13,604 (2023: £8,553) were due to the fund and are included in creditors.
22. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 520,000 500,000
23. Post Balance Sheet Events
On 15 November 2024 the Company entered into an agreement to purchase the entire issued share capital, being 12 Ordinary shares of £1 each, of Turriffs (Montrose) Limited. 
On 23 December 2024 the Company entered into an agreement to purchase the trade and assets of Les Turriff Limited.
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24. Related Party Disclosures
During the year there were related party transactions of £510,739 (2023: £545,586) made by the Company to its Parent Company.  Dividends paid during the year were £520,000 (2023: £500,000) to its Parent Company.  As at 31 August 2024 there was a balance owed to the Parent Company of £65,769 (2023: £56,508).
During the year rent was paid, per rental agreement, by the Company of £80,000 (2023: £80,000) to Fresh Fruit Company Limited, its Parent Company.
Transactions with directors
During the year transactions with the Director totalled £nil (2023: £nil) with a balance owed by the Director at 31 August 2024 of £nil (2023: £nil).
25. Controlling Parties
The company's ultimate controlling party is Mr P Thompson by virtue of their interest in the share capital of the company.
The Fresh Food Company (2007) Limited is the wholly owned Subsidiary of Fresh Fruit Company Limited.
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