REGISTERED NUMBER: 03291814 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

J K FRESH PRODUCE (WEST MIDLANDS)

LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Kaur

S Pal

S K Nahar

SECRETARY:

S K Nahar

REGISTERED OFFICE:

Long Lane

Neachley

Shifnal

Shropshire

TF11 8PJ

REGISTERED NUMBER:

03291814 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

5

918,707

723,573

CURRENT ASSETS

Stocks

69,464

80,867

Debtors

6

187,509

71,955

Prepayments and accrued income

5,474

16,298

262,447

169,120

CREDITORS

Amounts falling due within one year

7

618,551

472,784

NET CURRENT LIABILITIES

(356,104

)

(303,664

)

TOTAL ASSETS LESS CURRENT LIABILITIES

562,603

419,909

CREDITORS

Amounts falling due after more than one year

8

(369,317

)

(269,695

)

ACCRUALS AND DEFERRED INCOME

(7,151

)

(7,370

)

NET ASSETS

186,135

142,844

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

186,035

142,744

SHAREHOLDERS' FUNDS

186,135

142,844

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2025 and were signed on its behalf by:

S Pal - Director

S K Nahar - Director

1.	STATUTORY INFORMATION

J K Fresh Produce (West Midlands) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03291814 and registered office is Long Lane, Neachley, Shifnal, Shropshire, TF11 8PJ.

The principal activity during the year was that of the growth and supply of fresh herbs.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Functional currency

The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company. It may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, stock, tangible fixed assets and provisions are its critical accounting policies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of the revenue can be measured reliably; it is probable that the associated benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Motor vehicles

-

10% on cost

Equipment

-

5% on cost

Held within motor vehicles are tractors which are depreciated at 10% on cost taking into account residual values.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Buildings

fittings

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

492,366

7,848

115,918

1,073,596

1,689,728

Additions

15,127

-

222,388

26,500

264,015

Disposals

-

-

(8,333

)

(18,500

)

(26,833

)

At 31st December 2024

507,493

7,848

329,973

1,081,596

1,926,910

DEPRECIATION

At 1st January 2024

307,519

7,107

68,230

583,299

966,155

Charge for year

-

87

17,677

30,498

48,262

Eliminated on disposal

-

-

(3,622

)

(2,592

)

(6,214

)

At 31st December 2024

307,519

7,194

82,285

611,205

1,008,203

NET BOOK VALUE

At 31st December 2024

199,974

654

247,688

470,391

918,707

At 31st December 2023

184,847

741

47,688

490,297

723,573

Included within the net book value of £918,707 is £255,921 (2023 - £176,050) relating to assets under hire purchase agreements. The depreciation charged to the income statement in the year in respect of such assets amounted to £14,690 (2023 - £9,106).

In the opinion of the directors, the Buildings are held at a fair value and have not been depreciated in the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

177,782

64,364

Other debtors

9,727

7,591

187,509

71,955

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

215,141

231,188

Hire purchase contracts

70,659

31,537

Trade creditors

97,129

92,257

Taxation and social security

2,106

2,012

Other creditors

233,516

115,790

618,551

472,784

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

43,830

51,412

Hire purchase contracts

137,639

41,683

Other creditors

187,848

176,600

369,317

269,695

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

-

8,864

-

8,864

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

203,707

220,551

Bank loans

55,264

62,049

Hire purchase contracts

208,298

73,220

467,269

355,820

The bank loan and overdraft and are secured by a debenture over the assets of the company, by legal charges over the property and land at Kilsall Farm, Long Lane, Shifnal, TF11 8PL and by a guarantee and charge from the directors.

The hire purchase liabilities are secured against the assets to which they relate.

10.	OTHER FINANCIAL COMMITMENTS

The company have no future operating lease commitments (2023 - £609).