Garden of Elveden Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06998532 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GARDEN OF ELVEDEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J B Allpress

R J Archer

N A Beeton

C J Compson

A I Blenkiron

REGISTERED OFFICE:

The Estate Office

Elveden

Thetford

Norfolk

IP24 3TQ

REGISTERED NUMBER:

06998532 (England and Wales)

AUDITORS:

Thompson Taraz Rand Audit and Assurance Limited

Statutory Auditors

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

-

503

CURRENT ASSETS

Stocks

290,760

341,471

Debtors

6

2,413,762

1,927,110

Cash and cash equivalents

7

1,715,673

4,138,511

4,420,195

6,407,092

CREDITORS

Amounts falling due within one year

8

(2,864,744

)

(4,099,586

)

NET CURRENT ASSETS

1,555,451

2,307,506

TOTAL ASSETS LESS CURRENT LIABILITIES

1,555,451

2,308,009

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

1,555,351

2,307,909

SHAREHOLDERS' FUNDS

1,555,451

2,308,009

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:

N A Beeton - Director

R J Archer - Director

1.	STATUTORY INFORMATION

Garden of Elveden 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 Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Doubtful debts:

When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.The board of directors then uses judgement to consider and establish if the recognition of a doubtful debt provision is warranted.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:

Sale of goods

Revenue from the sale of potatoes is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold.

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33.33% on cost

Stocks

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets or financial liabilities or equity instruments.

Basic financial assets:

Basic financial assets which include assets and such as debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of future receipts are discounted at a market rate of interest. Assets receivable within one year are not discounted.

Basic financial liabilities:

Basic financial liabilities. including creditors, bank loans, are initially measured at transaction price net of transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not discounted.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

12,912

DEPRECIATION

At 1 January 2024

12,409

Charge for year

503

At 31 December 2024

12,912

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

503

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

2,316,075

1,810,079

Other debtors

97,687

117,031

2,413,762

1,927,110

7.	CASH AND CASH EQUIVALENTS

2024

2023

£

Business current account

1,363,677

1,899,835

Euro account

12,814

Deposit account

338,673

2,225,353

Cash in hand

509

1,715,673

4,138,511

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

1,773,107

2,168,917

Amounts owed to associates

670,101

1,459,225

Taxation and social security

300,264

406,902

Other creditors

121,272

64,542

2,864,744

4,099,586

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

50

Ordinary A Shares

1.00

50

Oridnary B Shares

1

50

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Rand (Senior Statutory Auditor)

for and on behalf of Thompson Taraz Rand Audit and Assurance Limited

11.	RELATED PARTY DISCLOSURES

During the year the company made sales to a company with a participating interest of £615,076 (2023: £504,957). The company also made purchases of £8,548,173 (2023: £12,004,603).The balance outstanding at the balance sheet date and included within amounts owed to associated undertakings within creditors amounts to £670,101 (2023: £1,459,225). This balance bears no interest and is repayable on demand.