Registered number
01195981
Fruco plc
Report and Financial Statements
31 December 2024
Fruco plc
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Strategic report 3
Independent auditor's report 4
Income statement 7
Statement of financial position 8
Statement of changes in equity 9
Statement of cash flows 10
Notes to the financial statements 11
Fruco plc
Company Information
Directors
Mr Simon Lane
Mr James Lane
Secretary
Ms Laura Chapman
Auditors
Begbies, Chartered Accountants
9 Bonhill Street
London
EC2A 4DJ
Registered office
5 Warren Court
Park Road
Crowborough 
TN6 2QX
Registered number
01195981
Fruco plc
Registered number: 01195981
Directors' Report
The directors present their report and financial statements for the year ended 31 December 2024.
Principal activities
The company's principal activity during the year continued to be importing and distributing fruit and vegetables.
Dividends
An ordinary dividend of £50,000 was paid in the year. The directors do not recommend payment of a final dividend.
Directors
The following persons served as directors during the year:
Mr Simon Lane
Mr James Lane
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors 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 these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are 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. They are 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.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 13 June 2025 and signed on its behalf.
Mr Simon Lane
Director
Fruco plc
Strategic Report
The directors present the strategic report and financial statements for the year ended 31 December 2024
Fair review of the business
The key financial highlights are that the company made a profit of £144,456 before tax on turnover of £8,972,883 compared to a profit of £133,529 on a turnover of £7,431,315 in 2023 .
The company's gross margin increased from £1,080,178 to £1,219,772. Although the company's overhead costs increased this year, cost controls remain strong, and profits remain high by historic levels.
At the end of the year, the company had a strong, liquid balance sheet, with cash at bank of £822,177 and net assets of £1,792,213.
The continuous complications of Brexit and the changes of Government policy in that regard continue to bring challenges and the lack of exports and subsequent return loads for the trucks bringing imported produce to the UK continue to test our profession. Coupled with the continued pressure of the UK supermarkets offering produce below cost price leaves the independent retailer unable to compete and this has a knock on effect down the line. Despite all this the Directors are satisfied with the results for the year and continue to actively review costs and credit control procedures. The continued development of niche products offered to clients has proved highly successful and the Directors are confident that the Company is well placed to maintain its position going forward.
Principal risks and uncertainties
Apart from market conditions, the principal risks facing the company relate to bank balances and trade debtors. The company is reliant on the strength of its bankers for safe custody of its cash resources. Credit verification procedures are followed for trade customers backed by indemnity insurance and supported by tight credit control. The company maintains funds in foreign currencies. The directors are aware of the company's required finance and take a prudent attitude towards cash flow management.
This report was approved by the board on 13 June 2025 and signed on its behalf.
Mr Simon Lane
Director
Fruco plc
Independent auditor's report
to the member of Fruco plc
Opinion
We have audited the financial statements of Fruco plc (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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 directors' 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 company's ability to continue as a going concern for a period of at least twelve 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 directors are 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. 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 course of 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 the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
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 directors’ 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 and returns; or
certain disclosures of directors’ 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 directors’ responsibilities statement, the directors are 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 directors 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 directors are 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. These procedures, together with the extent to which they are capable of detecting irregularities, are detailed below:
- Agreement of the financial statement disclosure to underlying supporting documentation;

- Enquiries and confirmation of directors as to their identification of any non-compliance with laws or regulations, or any actual or potential claims;

- Incorporating unpredictability into the nature, timing and extent of testing;

- Evaluating the selection and application of accounting policies chosen by the company;

- In relation to the risk of management override of controls, by undertaking procedures to review journal entries, assessing accounting estimates and identify and verify transactions outside of the usual course of operations, and evaluating whether there was evidence of any evidence of bias that represented a risk of material misstatements due to fraud;

- Assessing the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by considering the key risks impacting the financial statements.

Our audit was designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting misstatement resulting from fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentation or through collusion.
There are inherent limitations in the audit procedures performed, The further removed instances of non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of them.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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 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.
Daniel Valentine ACA
(Senior Statutory Auditor)
for and on behalf of
Begbies, Chartered Accountants 9 Bonhill Street
Statutory Auditor London
16 June 2025 EC2A 4DJ
Fruco plc
Income Statement
for the year ended 31 December 2024
Notes 2024 2023
£ £
Turnover 2 8,972,883 7,431,315
Cost of sales (7,753,111) (6,351,137)
Gross profit 1,219,772 1,080,178
Administrative expenses (1,077,325) (947,320)
Operating profit 3 142,447 132,858
Interest receivable 2,009 671
Profit on ordinary activities before taxation 144,456 133,529
Tax on profit on ordinary activities 5 (39,288) (32,436)
Profit for the financial year 105,168 101,093
Fruco plc
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 7 1,556 2,697
Current assets
Stocks 8 32,052 29,562
Debtors 9 1,347,254 1,496,836
Cash at bank 822,177 952,974
2,201,483 2,479,372
Creditors: amounts falling due within one year 10 (410,826) (745,024)
Net current assets 1,790,657 1,734,348
Net assets 1,792,213 1,737,045
Capital and reserves
Called up share capital 11 50,000 50,000
Profit and loss account 12 1,742,213 1,687,045
Total equity 1,792,213 1,737,045
Mr Simon Lane
Director
Approved by the board on 13 June 2025
Fruco plc
Statement of Changes in Equity
for the year ended 31 December 2024
Profit
Share and loss
capital account Total
£ £ £
At 1 January 2023 50,000 1,635,952 1,685,952
Profit for the financial year 101,093 101,093
Dividends (50,000) (50,000)
At 31 December 2023 50,000 1,687,045 1,737,045
At 1 January 2024 50,000 1,687,045 1,737,045
Profit for the financial year 105,168 105,168
Dividends (50,000) (50,000)
At 31 December 2024 50,000 1,742,213 1,792,213
Fruco plc
Statement of Cash Flows
for the year ended 31 December 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 105,168 101,093
Adjustments for:
Interest receivable (2,009) (671)
Tax on profit on ordinary activities 39,288 32,436
Depreciation 1,141 761
Amortisation of goodwill - 515
(Increase)/decrease in stocks (2,490) 31,502
Decrease/(increase) in debtors 149,582 (99,791)
(Decrease)/increase in creditors (341,038) 243,939
(50,358) 309,784
Interest received 2,009 671
Corporation tax paid (32,448) (27,856)
Cash (used in)/generated by operating activities (80,797) 282,599
Investing activities
Payments to acquire tangible fixed assets - (3,458)
Cash used in investing activities - (3,458)
Financing activities
Equity dividends paid (50,000) (50,000)
Cash used in financing activities (50,000) (50,000)
Net cash (used)/generated
Cash (used in)/generated by operating activities (80,797) 282,599
Cash used in investing activities - (3,458)
Cash used in financing activities (50,000) (50,000)
Net cash (used)/generated (130,797) 229,141
Cash and cash equivalents at 1 January 2024 952,974 723,833
Cash and cash equivalents at 31 December 2024 822,177 952,974
Cash and cash equivalents comprise:
Cash at bank 822,177 952,974
Fruco plc
Notes to the Accounts
for the year ended 31 December 2024
1 Summary of significant accounting policies
Fruco Plc is a public company limited by shares incorporated in England and Wales. The registered office is 5 Warren Court, Park Road, Crowborough, TN6 2QX.
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The principal accounting policies adopted are set out below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on delivery to the customer), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Amortisation is recognised so as to write of the cost or valuation of assets less their residual value over their useful lives on the following bases:
Domain names 10 years straight line
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 3 years straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less selling costs. Cost comprises the purchase price of fruit and vegetables and all applicable expenditure.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The tax expense represents the sum of the tax currently payable and payments due to group members in respect of group relief.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All gains and losses are included in the profit and loss account.
2 Analysis of turnover 2024 2023
£ £
Sale of goods 8,972,883 7,431,315
By geographical market:
UK 8,972,883 7,431,315
3 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 1,141 761
Amortisation of intangible assets - 515
Exchange losses/(gains) (140,547) (196,992)
Auditors remuneration for audit and accounting services 11,613 11,388
Carrying amount of stock sold 6,436,339 5,411,231
4 Staff costs 2024 2023
Average number of employees during the year Number Number
Directors 2 2
5 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 39,276 32,436
Adjustments in respect of previous periods 12 -
39,288 32,436
Tax on profit on ordinary activities 39,288 32,436
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 144,456 133,529
Standard rate of corporation tax in the UK 25% 23.5%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 36,114 31,379
Effects of:
Expenses not deductible for tax purposes 3,162 1,057
Adjustments to tax charge in respect of previous periods 12 -
Current tax charge for period 39,288 32,436
6 Intangible fixed assets
Domain name
£
Cost
At 1 January 2024 5,123
At 31 December 2024 5,123
Amortisation
At 1 January 2024 5,123
At 31 December 2024 5,123
Carrying amount
At 31 December 2024 -
Domain name is being written off in equal annual instalments over its estimated economic life of 10 years.
7 Tangible fixed assets
Computer equipment
At cost
£
Cost or valuation
At 1 January 2024 5,366
At 31 December 2024 5,366
Depreciation
At 1 January 2024 2,669
Charge for the year 1,141
At 31 December 2024 3,810
Carrying amount
At 31 December 2024 1,556
At 31 December 2023 2,697
8 Stocks 2024 2023
£ £
Stock in hand and transit 32,052 29,562
9 Debtors 2024 2023
£ £
Trade debtors 547,872 736,780
Amount due from parent undertaking 783,409 681,936
Other debtors 11,975 12,861
Prepayments and accrued income 3,998 65,259
1,347,254 1,496,836
10 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 337,445 682,172
Corporation tax 39,276 32,436
Accruals and deferred income 34,105 30,416
410,826 745,024
11 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 50,000 50,000 50,000
12 Profit and loss account 2024 2023
£ £
At 1 January 2024 1,687,045 1,635,952
Profit for the financial year 105,168 101,093
Dividends (50,000) (50,000)
At 31 December 2024 1,742,213 1,687,045
13 Dividends 2024 2023
£ £
Dividends on ordinary shares (note 12) 50,000 50,000
14 Parent company
The ultimate parent company is Lane Organisation Limited (company no. 09337881). The company is incorporated in England and Wales and its registered office is 5 Warren Court, Park Road, Crowborough, TN6 2QX.

The company is controlled by Mr Simon Lane by virtue of his controlling share in Lane Organisation Limited.
15 Presentation currency
The financial statements are presented in Sterling.
16 Legal form of entity and country of incorporation
Fruco plc is a private company limited by shares and incorporated in England.
17 Related party transactions
The company has taken advantage of the exemption within section 33 of FRS 102 not to disclose the details of transactions with its parent company.
During the year, the company made an advance to a director of £22,600. Interest was charged at the official rate of interest of 2.25%. The loan has been repaid in full by the year end.
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