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REGISTERED NUMBER: 07081665 (England and Wales)


Canim Fruit & Veg Limited

Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 31 March 2025






Canim Fruit & Veg Limited (Registered number: 07081665)






Contents of the Consolidated Financial Statements
for the year ended 31 March 2025




Page

Company Information 1

Group Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 7

Consolidated Income Statement 11

Consolidated Other Comprehensive Income 12

Consolidated Statement of Financial Position 13

Company Statement of Financial Position 14

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Statement of Cash Flows 18

Notes to the Consolidated Statement of Cash Flows 19

Notes to the Consolidated Financial Statements 21


Canim Fruit & Veg Limited

Company Information
for the year ended 31 March 2025







DIRECTOR: Mr A Maraslioglu





REGISTERED OFFICE: Unit 64-65, New Spitalfields Market
Sherrin Road
London
E10 5SH





REGISTERED NUMBER: 07081665 (England and Wales)





AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

Canim Fruit & Veg Limited (Registered number: 07081665)

Group Strategic Report
for the year ended 31 March 2025

The director presents his strategic report of the company and the group for the year ended 31 March 2025.

The company's performance has been in accordance with the expectations of the director. The company has shown a high degree of resilience in a competitive industry to achieve targeted results.

REVIEW OF BUSINESS
Turnover for the group has increased compared to that of last year; the rise in turnover has been in line with expectations. The company acquired a subsidiary in the last quarter of the year. Profitability over the period has also increased mainly due to the increase in sales and better cost controls.The director expect this trend of growth in sales to continue leading to an increase in contribution towards fixed costs and the resultant increase in profitability of the group. Overheads grew proportionately less than last year due to better cost control. Overheads are semi-fixed thus there was a positive impact on groups profits because of the increase in sales revenue. This is expected to further improve as sales grow and generate more contribution to profit. The companies in the group sell mainly fruits and vegetables and basic food items and the general economic cycle of the country has not impacted much on the industry in which they operate. The main threat to the group are their competitors. The company's main strategy is to provide a complete service to customers thereby increasing their customer base and the resulting impact on the turnover of the group. The companies aim at specific markets (and customers) to ensure that a clear strategy to win and maintain these new customers is implemented and sustained.

The directors recognise the importance of all of its staff and would like to thank them for all their hard work and efforts throughout the year in helping the company make this remarkable achievement.

The results for the year and the financial position of the company are shown in the annexed financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's ability to get an insurance cover is key to their ability to acquire inputs on consignment. Most of the purchases are on consignment and the consignors require an insurance cover to be in place to continue supplying on consignment. The level of cover depends on the financial health of the company. This is managed by keeping a close watch on monthly results and dealing with poor performing lines on a timely basis. Furthermore, the stock levels are generally very low due to the perishable nature of the products. The company, therefore, depends on the reliability of the suppliers to meet their orders at short notice to prevent stock out leading to loss of customers and reputation degradation.

To manage this risk for each product, the company maintains more than one supplier to fulfil the required orders to ensure that the failure of one supplier will not affect their ability to meet anticipated demand and maintain customer satisfaction.


Canim Fruit & Veg Limited (Registered number: 07081665)

Group Strategic Report
for the year ended 31 March 2025


The main performance indicators are the sales and the profit margins. Most products are sold at an agreed margin thereby leading to a positive correlation between sales and profit. All other costs apart from cost of sales are fairly fixed. The directors monitor these on a monthly basis to ensure that poor performers are picked up on time and dealt with. They also ensure that other overheads are within cost limits as their effect on the ability to remain in operational existence and profitability is very critical.

The Key Performance Indicators over the last two years are as follows:

2025 2024
£    £   
Turnover 54,714 52,180
Gross Profit 5,614 4,811
Net Profit before tax 2,245 1,864

The directors believe that other variables of performance indicators are marginal and are not the best indicators of the overall performance, development and position of the company.

POLICY ON PAYMENT OF CREDITORS
The policy of the company is to agree terms of payment prior to commencing trade with a supplier and to abide by those terms on a timely submission of invoices.

POLICY ON EMPLOYEES
The company is committed to achieving a working environment which provides equality of opportunity and freedom from unlawful discrimination on the basis of gender, sexual orientation, marital or civil partner status, gender reassignment, race, religion or belief, colour, nationality, ethnic or national origin, disability or age, pregnancy or maternity, trade union membership or the fact that they are part-time workers. The company's Equality and Diversity policy aims to remove unfair and discriminatory practices within the company and to encourage full contribution from its diverse community. The company is committed to actively opposing all forms of discrimination. The company also aims to provide a service that does not discriminate against its clients in the means by which they can access the services supplied by the company. The company believes that the directors, employees and customers are entitled to be treated with respect and dignity.The company's employment policy is to provide equal opportunity to all current and prospective employees without any discrimination. They endeavour to provide a work environment in which all individuals are treated with respect and dignity.

SOCIAL, ENVIRONMENT AND ETHICAL MATTERS
The company believes that by operating in an ethical and social aware manner they will help preserve the environment; that being an integral part of efficient and profitable business management. The directors recognise that success in these areas depends on the involvement and commitment of everyone in the organisation.


Canim Fruit & Veg Limited (Registered number: 07081665)

Group Strategic Report
for the year ended 31 March 2025

FUTURE DEVELOPMENT
The directors expect a growth in sales in the future as the company explores new products and customers.

ON BEHALF OF THE BOARD:





Mr A Maraslioglu - Director


26 June 2025

Canim Fruit & Veg Limited (Registered number: 07081665)

Report of the Director
for the year ended 31 March 2025

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of wholesale of fruits and vegetables.

DIVIDENDS
An interim dividend of 36.6 per share was paid on 10 April 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 732,000 .

DIRECTOR
Mr A Maraslioglu held office during the whole of the period from 1 April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are 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 group's auditors are aware of that information.

Canim Fruit & Veg Limited (Registered number: 07081665)

Report of the Director
for the year ended 31 March 2025


AUDITORS
The auditors, Alton & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A Maraslioglu - Director


26 June 2025

Report of the Independent Auditors to the Members of
Canim Fruit & Veg Limited

Opinion
We have audited the financial statements of Canim Fruit & Veg Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and 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 group's and of the parent company affairs as at 31 March 2025 and of the group's profit 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

Report of the Independent Auditors to the Members of
Canim Fruit & Veg Limited


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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and 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 director
As explained more fully in the Statement of Director's Responsibilities set out on page five, 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 determines 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 group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Canim Fruit & Veg Limited


Auditors' 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 a Report of the Auditors 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:

We obtained an understanding of the legal and regulatory framework that are applicable to the company and determined that the most significant are the food standards regulation, money laundering and anti bribery regulations. We understand how the company is complying with those regulations by making enquiries of management and key personel; we also reviewed correspondence files. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements using our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards) and from inspection of the company's regulatory and legal correspondence. We discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated those identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of actual or suspected non-compliance.

Owing 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, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained 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 non-compliance and cannot be expected to detect non-compliance with all 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 at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Canim Fruit & Veg Limited


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 a Report of the Auditors 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.




Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

26 June 2025

Canim Fruit & Veg Limited (Registered number: 07081665)

Consolidated
Income Statement
for the year ended 31 March 2025

2025 2024
Notes £    £   

TURNOVER 54,713,763 52,179,528

Cost of sales 49,099,317 47,368,415
GROSS PROFIT 5,614,446 4,811,113

Administrative expenses 3,380,306 3,060,246
2,234,140 1,750,867

Other operating income 22,994 145,681
OPERATING PROFIT 4 2,257,134 1,896,548

Interest receivable and similar income 4,547 -
2,261,681 1,896,548

Interest payable and similar expenses 5 17,064 32,324
PROFIT BEFORE TAXATION 2,244,617 1,864,224

Tax on profit 6 645,629 539,465
PROFIT FOR THE FINANCIAL YEAR 1,598,988 1,324,759
Profit attributable to:
Owners of the parent 1,598,988 1,324,759

Canim Fruit & Veg Limited (Registered number: 07081665)

Consolidated
Other Comprehensive Income
for the year ended 31 March 2025

2025 2024
Notes £    £   

PROFIT FOR THE YEAR 1,598,988 1,324,759


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,598,988
Prior year adjustment (24,847 )
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

1,299,912

Total comprehensive income attributable to:
Owners of the parent 1,598,988 1,299,912

Canim Fruit & Veg Limited (Registered number: 07081665)

Consolidated Statement of Financial Position
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 531,958 -
Tangible assets 10 1,299,738 1,625,087
Investments 11 - -
1,831,696 1,625,087

CURRENT ASSETS
Stocks 12 391,567 257,750
Debtors 13 5,800,248 5,548,625
Cash at bank and in hand 2,143,210 1,115,802
8,335,025 6,922,177
CREDITORS
Amounts falling due within one year 14 5,838,050 5,007,944
NET CURRENT ASSETS 2,496,975 1,914,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,328,671

3,539,320

CREDITORS
Amounts falling due after more than one
year

15

(172,706

)

(252,871

)

PROVISIONS FOR LIABILITIES 18 (279,569 ) (277,041 )
NET ASSETS 3,876,396 3,009,408

CAPITAL AND RESERVES
Called up share capital 19 20,000 20,000
Retained earnings 20 3,856,396 2,989,408
SHAREHOLDERS' FUNDS 3,876,396 3,009,408

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:




Mr A Maraslioglu - Director


Canim Fruit & Veg Limited (Registered number: 07081665)

Company Statement of Financial Position
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 1,297,450 1,625,087
Investments 11 1,680,000 -
2,977,450 1,625,087

CURRENT ASSETS
Stocks 12 391,567 257,750
Debtors 13 5,759,068 5,548,625
Cash at bank and in hand 1,547,306 1,115,802
7,697,941 6,922,177
CREDITORS
Amounts falling due within one year 14 6,306,148 5,007,944
NET CURRENT ASSETS 1,391,793 1,914,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,369,243

3,539,320

CREDITORS
Amounts falling due after more than one
year

15

(172,706

)

(252,871

)

PROVISIONS FOR LIABILITIES 18 (284,346 ) (277,041 )
NET ASSETS 3,912,191 3,009,408

Canim Fruit & Veg Limited (Registered number: 07081665)

Company Statement of Financial Position - continued
31 March 2025

2025 2024
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 19 20,000 20,000
Retained earnings 20 3,892,191 2,989,408
SHAREHOLDERS' FUNDS 3,912,191 3,009,408

Company's profit for the financial year 1,634,783 1,324,759


The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





Mr A Maraslioglu - Director


Canim Fruit & Veg Limited (Registered number: 07081665)

Consolidated Statement of Changes in Equity
for the year ended 31 March 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 20,000 2,529,496 2,549,496
Prior year adjustment - (24,847 ) (24,847 )
As restated 20,000 2,504,649 2,524,649

Changes in equity
Dividends - (840,000 ) (840,000 )
Total comprehensive income - 1,324,759 1,324,759
Balance at 31 March 2024 20,000 2,989,408 3,009,408

Changes in equity
Dividends - (732,000 ) (732,000 )
Total comprehensive income - 1,598,988 1,598,988
Balance at 31 March 2025 20,000 3,856,396 3,876,396

Canim Fruit & Veg Limited (Registered number: 07081665)

Company Statement of Changes in Equity
for the year ended 31 March 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 20,000 2,529,496 2,549,496
Prior year adjustment - (24,847 ) (24,847 )
As restated 20,000 2,504,649 2,524,649

Changes in equity
Dividends - (840,000 ) (840,000 )
Total comprehensive income - 1,324,759 1,324,759
Balance at 31 March 2024 20,000 2,989,408 3,009,408

Changes in equity
Dividends - (732,000 ) (732,000 )
Total comprehensive income - 1,634,783 1,634,783
Balance at 31 March 2025 20,000 3,892,191 3,912,191

Canim Fruit & Veg Limited (Registered number: 07081665)

Consolidated Statement of Cash Flows
for the year ended 31 March 2025

2025 2024
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,305,004 1,127,538
Interest paid - (18,614 )
Interest element of hire purchase payments
paid

(17,064

)

(13,710

)
Tax paid (606,719 ) (201,978 )
Net cash from operating activities 2,681,221 893,236

Cash flows from investing activities
Purchase of intangible fixed assets (562,796 ) -
Purchase of tangible fixed assets (401,330 ) (622,270 )
Sale of tangible fixed assets 111,564 9,100
Interest received 4,547 -
Net cash from investing activities (848,015 ) (613,170 )

Cash flows from financing activities
Capital repayments in year (80,165 ) 137,249
Amount withdrawn by directors 535 (122,012 )
Equity dividends paid (732,000 ) (840,000 )
Net cash from financing activities (811,630 ) (824,763 )

Increase/(decrease) in cash and cash equivalents 1,021,576 (544,697 )
Cash and cash equivalents at beginning of
year

2

1,113,213

1,657,910

Cash and cash equivalents at end of year 2 2,134,789 1,113,213

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 March 2025

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2025 2024
£    £   
Profit before taxation 2,244,617 1,864,224
Depreciation charges 671,993 566,270
(Profit)/loss on disposal of fixed assets (25,593 ) 180
Pre acquisition adjustments (3,481 ) -
Finance costs 17,064 32,324
Finance income (4,547 ) -
2,900,053 2,462,998
(Increase)/decrease in stocks (133,817 ) 179,236
Increase in trade and other debtors (182,272 ) (1,875,659 )
Increase in trade and other creditors 721,040 360,963
Cash generated from operations 3,305,004 1,127,538

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2025
31/3/25 1/4/24
£    £   
Cash and cash equivalents 2,143,210 1,115,802
Bank overdrafts (8,421 ) (2,589 )
2,134,789 1,113,213
Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 1,115,802 1,657,910
Bank overdrafts (2,589 ) -
1,113,213 1,657,910


Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 March 2025

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24 Cash flow At 31/3/25
£    £    £   
Net cash
Cash at bank and in hand 1,115,802 1,027,408 2,143,210
Bank overdrafts (2,589 ) (5,832 ) (8,421 )
1,113,213 1,021,576 2,134,789
Debt
Finance leases (369,488 ) 80,165 (289,323 )
(369,488 ) 80,165 (289,323 )
Total 743,725 1,101,741 1,845,466

4. ACQUISITION OF BUSINESS

On 20th December 2024 all the shares of Payne, Simmons Limited was acquired by Cannim Fruit & Veg Limited.

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements
for the year ended 31 March 2025

1. STATUTORY INFORMATION

Canim Fruit & Veg Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared 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 have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when the customer takes delivery of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less any additional costs to sell.


Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Goods on consignment
Goods acquired on consignment are not recognised as the company's purchases until the title of the goods changes to the company. This occurs when the goods are sold.

3. EMPLOYEES AND DIRECTORS
2025 2024
£    £   
Wages and salaries 1,509,184 1,185,408
Social security costs 147,667 115,813
Other pension costs 34,276 22,425
1,691,127 1,323,646

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2025 2024

Director 1 1
Accounts and management 13 10
Operations 39 29
53 40

2025 2024
£    £   
Director's remuneration 89,195 63,048

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025 2024
£    £   
Hire of plant and machinery 2,120 410
Other operating leases 336,633 554,865
Depreciation - owned assets 640,708 559,604
(Profit)/loss on disposal of fixed assets (25,593 ) 180
Goodwill amortisation 30,838 6,667
Auditors' remuneration 24,555 18,000
Taxation compliance services 8,655 8,400
Other non- audit services 21,047 13,540

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£    £   
Interest and penalties - 18,614
Hire purchase 17,064 13,710
17,064 32,324

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£    £   
Current tax:
UK corporation tax 645,130 475,486
Tax refundable (5,433 ) -
Tax deducted at source 370 1,016
Total current tax 640,067 476,502

Deferred tax 5,562 62,963
Tax on profit 645,629 539,465

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2025 2024
£    £   
Ordinary shares of 1 each
Interim 732,000 840,000

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2024 50,000
Additions 562,796
At 31 March 2025 612,796
AMORTISATION
At 1 April 2024 50,000
Amortisation for year 30,838
At 31 March 2025 80,838
NET BOOK VALUE
At 31 March 2025 531,958
At 31 March 2024 -

Company
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 50,000
AMORTISATION
At 1 April 2024
and 31 March 2025 50,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 1,100,152 659,570 309,966 836,925 2,906,613
Additions - 78,485 166,360 156,485 401,330
Disposals (1,330 ) - - (145,684 ) (147,014 )
At 31 March 2025 1,098,822 738,055 476,326 847,726 3,160,929
DEPRECIATION
At 1 April 2024 584,067 327,261 157,633 212,565 1,281,526
Charge for year 355,789 82,159 63,739 139,021 640,708
Eliminated on disposal (1,099 ) - - (59,944 ) (61,043 )
At 31 March 2025 938,757 409,420 221,372 291,642 1,861,191
NET BOOK VALUE
At 31 March 2025 160,065 328,635 254,954 556,084 1,299,738
At 31 March 2024 516,085 332,309 152,333 624,360 1,625,087

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

10. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 1,100,152 659,570 309,966 836,925 2,906,613
Additions - 78,485 163,500 91,225 333,210
Disposals (1,330 ) - - (32,000 ) (33,330 )
At 31 March 2025 1,098,822 738,055 473,466 896,150 3,206,493
DEPRECIATION
At 1 April 2024 584,067 327,261 157,633 212,565 1,281,526
Charge for year 355,789 82,159 63,167 139,021 640,136
Eliminated on disposal (1,099 ) - - (11,520 ) (12,619 )
At 31 March 2025 938,757 409,420 220,800 340,066 1,909,043
NET BOOK VALUE
At 31 March 2025 160,065 328,635 252,666 556,084 1,297,450
At 31 March 2024 516,085 332,309 152,333 624,360 1,625,087

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 1,680,000
At 31 March 2025 1,680,000
NET BOOK VALUE
At 31 March 2025 1,680,000

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiary

Payne, Simmons Ltd
Registered office: Unit 64-65, New Spitalfields Market Sherrin Road, London E10 5SH
Nature of business: Wholesale of fruits and vegetables.
%
Class of shares: holding
Ordinary 100.00


Fixed asset investments represent the cost of acquiring 100% interest in the equity of Payne, Simmons Limited.

12. STOCKS

Group Company
2025 2024 2025 2024
£    £    £    £   
Finished goods 391,567 257,750 391,567 257,750

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2025 2024 2025 2024
£    £    £    £   
Trade debtors 3,864,950 3,654,212 3,863,559 3,654,212
Amounts owed by group undertakings - - 52,000 -
Rent deposit 115,739 153,447 102,325 153,447
A.A.M Property Ltd 1,491,170 1,491,170 1,491,170 1,491,170
Tax 196,938 127,587 127,587 127,587
VAT 77,642 21,607 68,618 21,607
Prepayments and accrued income - 8,647 - 8,647
Prepayments 53,809 91,955 53,809 91,955
5,800,248 5,548,625 5,759,068 5,548,625

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2025 2024 2025 2024
£    £    £    £   
Bank loans and overdrafts (see note 16) 8,421 2,589 8,421 2,589
Hire purchase contracts (see note 17) 116,617 116,617 116,617 116,617
Trade creditors 4,958,470 4,230,744 5,448,860 4,230,744
Tax 640,747 538,048 643,387 538,048
Social security and other taxes 44,898 55,586 37,293 55,586
Pension control account 8,855 8,033 5,240 8,033
Directors' current accounts 932 397 932 397
Accruals and deferred income - 13,650 - 13,650
Accrued expenses 59,110 42,280 45,398 42,280
5,838,050 5,007,944 6,306,148 5,007,944

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2025 2024 2025 2024
£    £    £    £   
Hire purchase contracts (see note 17) 172,706 252,871 172,706 252,871

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2025 2024 2025 2024
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 8,421 2,589 8,421 2,589

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 116,617 116,617
Between one and five years 172,706 252,871
289,323 369,488

Company
Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 116,617 116,617
Between one and five years 172,706 252,871
289,323 369,488

Company
Non-cancellable operating leases
2025 2024
£    £   
Within one year 28,838 371,052
Between one and five years - 238,094
In more than five years - 480,000
28,838 1,089,146

The lease expired on 12 May 2025. The company is assured of the continued use of the premises until the renewal is finalised.

18. PROVISIONS FOR LIABILITIES

Group Company
2025 2024 2025 2024
£    £    £    £   
Deferred tax 279,569 277,041 284,346 277,041

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 April 2024 277,041
Charge to Income Statement during year 2,528
Balance at 31 March 2025 279,569

Company
Deferred
tax
£   
Balance at 1 April 2024 277,041
Charge to Income Statement during year 7,305
Balance at 31 March 2025 284,346

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary 1 20,000 20,000

20. RESERVES

Group
Retained
earnings
£   

At 1 April 2024 2,989,408
Profit for the year 1,598,988
Dividends (732,000 )
At 31 March 2025 3,856,396

Canim Fruit & Veg Limited (Registered number: 07081665)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2025

20. RESERVES - continued

Company
Retained
earnings
£   

At 1 April 2024 2,989,408
Profit for the year 1,634,783
Dividends (732,000 )
At 31 March 2025 3,892,191


21. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2025 2024
£    £   
Amount due from related parties 1,491,170 -
Rent received 18,172 -

22. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Maraslioglu.