Company registration number 02482639 (England and Wales)
CLUB FRUIT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
CLUB FRUIT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CLUB FRUIT SERVICES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,416,376
1,249,324
Current assets
Debtors
4
75,171
39,233
Cash at bank and in hand
3,697
14,858
78,868
54,091
Creditors: amounts falling due within one year
5
(363,584)
(475,347)
Net current liabilities
(284,716)
(421,256)
Total assets less current liabilities
1,131,660
828,068
Creditors: amounts falling due after more than one year
6
(304,677)
(334,371)
Provisions for liabilities
(230,005)
(127,951)
Net assets
596,978
365,746
Capital and reserves
Called up share capital
10
10
Revaluation reserve
9
186,685
186,685
Profit and loss reserves
410,283
179,051
Total equity
596,978
365,746
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CLUB FRUIT SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 June 2025
Mr L Mcloughlin
Director
Company Registration No. 02482639
CLUB FRUIT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Club Fruit Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Petre Court, Petre Road, Accrington, Lancashire, United Kingdom, BB5 5HY.
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 directors have considered the financial stability of the company for a period of at least 12 months from the date of signing these accounts.true
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements..
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.
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:
Land and buildings
2% straight line basis
Fixtures and fittings
15% reducing balance basis
Equipment
20% to 100% reducing balance basis
Motor vehicles
25% reducing balance basis
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.
The companys land and buildings are carried at fair value at the date of the revaluation plus additions at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. The surplus or deficit on book value is transferred to the revaluation reserve.
CLUB FRUIT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
CLUB FRUIT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
18
19
3
Tangible fixed assets
Land and buildings
Fixtures and fittings
Equipment
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 September 2023
425,000
21,411
3,168,686
64,052
3,679,149
Additions
391,066
391,066
At 31 August 2024
425,000
21,411
3,559,752
64,052
4,070,215
Depreciation and impairment
At 1 September 2023
6,270
20,869
2,346,828
55,858
2,429,825
Depreciation charged in the year
6,270
100
215,596
2,048
224,014
At 31 August 2024
12,540
20,969
2,562,424
57,906
2,653,839
Carrying amount
At 31 August 2024
412,460
442
997,328
6,146
1,416,376
At 31 August 2023
418,730
542
821,858
8,194
1,249,324
On 30 September 2022 the company's land and buildings were valued at £425,000 by Taylor Weaver, independent valuers not connected with the company on the basis of market value. The director is of the opinion that at the year end this valuation was materially correct, and accordingly has been included within the financial statements for the year ended 31 August 2024.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
53,300
21,139
Other debtors
21,871
18,094
75,171
39,233
CLUB FRUIT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
92,169
85,023
Obligations under finance leases
8
9,582
21,412
Other borrowings
7
46,775
46,775
Trade creditors
71,091
78,200
Other taxation and social security
62,358
110,666
Directors' loans
76,219
129,921
Accruals and deferred income
5,450
3,350
363,644
475,347
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
219,334
194,031
Obligations under finance leases
8
6,243
19,531
Other borrowings
7
79,100
120,809
304,677
334,371
7
Loans and overdrafts
2024
2023
£
£
Bank loans
284,334
241,531
Bank overdrafts
27,169
37,523
Other loans
125,875
167,584
437,378
446,638
Payable within one year
138,944
131,798
Payable after one year
298,434
314,840
Loans and overdrafts are secured by fixed charges over the assets of the company.
8
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
9,582
21,412
In two to five years
6,243
19,531
15,825
40,943
CLUB FRUIT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
8
Finance lease obligations
(Continued)
- 7 -
Finance lease payments represent rentals payable by the company for certain items of equipment. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets.
9
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
186,685
186,685
10
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
45,252
39,487