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Registered number:
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Edward Vinson Limited
Company Information
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Edward Vinson Limited
Contents
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Edward Vinson Limited
Group strategic report
For the year ended 31 December 2024
The directors present their strategic report for the year ended 31 December 2024.
The year ended 31 December 2024 was profitable and the strength of the business’ operations continues to be the diversified operations it undertakes.
Activities undertaken within the group are plant breeding, propagation and fruit production and supply to the soft fruit industry. Whilst all these enterprises comprise many of the same costs, the ability to generate revenue differs between them. It is this diversification that helps to balance the performance of the group. The 2024 harvest season was an improvement on the previous year, with the impact of some of the external factors that had presented challenges in the previous year reducing. Growing conditions varied throughout the season, but a strong start and finish helped the business to make further strides in the fruit production enterprise. Investment in growing systems helped to improve yields. Plans for improvements in post-harvest systems were made and are being implemented and this should result in the overall continuation of improvement in the fruit production enterprise. A lot of the challenges faced are outside of the business’ control, this is the nature of the industry. However, it is crucial that where the business can influence its success, this is done in a positive and proactive way. The business continues to focus on its customers and relationships and this is a key part of strategy going forward.
The business environment in which the group operates continues to be challenging. Management take necessary steps to ensure that business risks are addressed on a timely basis and the directors continue to monitor the situation and manage this risk through continuing review of the operations and strategy.
Availability of labour, the key resource to all the business’ operations, remains a major risk. In addition to availability, quality and cost of labour are of equal concern. Significant time, effort and cost is spent in recruiting, training and trying to ensure that employees have a positive experience. Brexit continues to have an impact on specific operations, notably where there is cross-border trading activity. To mitigate the changing weather patterns that are being seen, crop systems and processes are constantly being reviewed and refined. The group's financial risks have been considered and discussed further in the directors' report.
The key financial performance indicators are as follows:-
The group's financial risks have been considered and discussed further in the directors' report.
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Edward Vinson Limited
Group strategic report (continued)
For the year ended 31 December 2024
The directors have a duty to promote the success of the group for the benefit of its members as a whole. In doing so there must be regard to:
The likely consequences of any decision in the long term Decision making is guided by the core values of the business and executed within the parameters of a clear governance framework. The method of the decision making is dependent on the magnitude of the decision. The group’s Board comprises executive and non-executive directors, which allows decisions to be appraised from different viewpoints. Ultimately the long-term success and prosperity of the business drives any major decision. In most situations, the tools to make decisions are available to the Board and it is the responsibility of the Board members to produce sufficient, appropriate information upon which a decision can be made. More often than not this information is financial. Regular Board meetings ensure that all major decisions are made only when the Board has been fully consulted and the necessary due diligence has taken place. Around these Board meetings, it is usual for the Board to convene to discuss specific matters that arise and require attention. The interests of the group’s employees The employees of the group are its major asset and are viewed as such. The majority of the group’s operations are labour intensive and the search for systems and methods that make the nature of the work safer, more efficient and more enjoyable for the team is a continual process. All employees are given a platform to communicate with senior management and similarly senior management are encouraged to know their staff. Developing a positive culture and offering opportunity to all employees of the group is deemed vital for long-term success. The need to foster the group’s business relationships with suppliers, customers and others A key objective of the group is to value, respect and provide exceptional service to our customers. Due to the operations undertaken within the group, many of our customers could also be deemed to be our competitors. However, it is felt that more can be achieved with a collaborative approach and going the extra mile for customers is something that makes a huge difference. Similarly appreciating our suppliers for what they do is important and being honest and communicating clearly helps to develop and maintain the long-term relationships that underpin a successful business. The impact of the company’s operations on the community and the environment Minimising waste and the impact the group’s operations have on the environment are increasingly relevant, particularly as we learn more and developments are made in these areas. Using better materials and producing cleaner energy are the two main areas in which improvements are being sought, although being more efficient by utilising modern technology and new systems are also ways in which the group is looking to improve its energy and resource consumption. The reputation for a high standard of business conduct The Board recognises the duty it has to all stakeholders to run the business well and maintain standards that it can stand by. Hard work and diligence is evident throughout the group but this is only consolidated by conducting business the right way, which is something all employees are encouraged to do. The Board aims to lead by example and it is hoped that this commitment to high standards sets the business culture of the group. The need to act fairly as between shareholders of the group The group’s Board comprises independent executive and non-executive directors, which is able to make decisions objectively and in the best interests of the group’s shareholders. The governance structure in place allows shareholders a direct line of communication to the group’s Chairman and shareholders are consulted as appropriate. The long-term strategy set by the directors is with the ongoing success of the business and the enduring benefit of the shareholders at its heart.
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Edward Vinson Limited
Group strategic report (continued)
For the year ended 31 December 2024
This report was approved by the board on 23 September 2025 and signed on its behalf.
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Edward Vinson Limited
Directors' report
For the year ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £4,653,076 (2023 - £2,383,033).
Dividends of £165,000 were paid in the year.
The directors who served during the year were:
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Edward Vinson Limited
Directors' report (continued)
For the year ended 31 December 2024
Future developments
The directors and management will continue to seek means to achieve greater productivity from improved production and operational techniques. Financial instruments The group has exposure to several areas of risk described below. The group has established a risk management framework the primary objective of which is to mitigate the group’s exposure to risk in order to protect the group from events that may hinder its performance. Liquidity risk Liquidity risk is the risk that the group will encounter difficulty in meeting its financial obligations as they fall due. The group’s objective in managing liquidity risk is to ensure that this does not arise. Having assessed future cash flow requirements; the group expects to be able to meet its financial obligations through the cash flows that are generated from its operating activities. In the event that these cash flows would not be sufficient to enable the group to meet all of its obligations; the group has available credit facilities provided by its bankers, as disclosed in note 20. The interest rate risk arising from these facilities is considered by the directors to be minimal, and the group has not entered into any derivative instruments designed to mitigate exposure to such risk. With these facilities in place the group is in a position to meets its commitments and obligations as they fall due. Customer credit exposure The group regularly offers credit terms to its customers which allow for payment of the debt after delivery of the goods or services. The group is at risk to the extent that a customer may be unable to pay the debt within those terms. This risk is mitigated by the strong on-going customer relationships and by only granting credit to customers who are able to demonstrate an appropriate payment history and satisfy credit worthiness procedures. Details of the group’s trade debtors are shown in note 18. Price risk Price risk arises on financial instruments due to fluctuations in commodity prices or equity prices. The group’s investment in joint ventures and associates are held at net asset value and are therefore not exposed to price risk. Listed investments with a fair value of £114,029 at the year end are exposed to price risk, which is mitigated by the active management of the group’s investment portfolio with the assistance of external financial advisers. Research and development activities The group continues to conduct a strawberry breeding programme, which has the long-term aim of producing improved varieties for the UK berry industry, with significant scientific and technological advances in respect of the shelf life, acidity content and yield.
Employees are kept informed about the progress and position of the group. Feedback is sought from staff on a regular basis at all levels and departments through regular HR initiatives. Regular SMT meetings are used to disseminate information and responsibility is placed upon managers to communicate effectively and ensure information is passed through the business. Committees, such as the health and safety committee, have been created with the intention of involving staff in decision making and important aspects of the group’s operations. Social and team building events are arranged to give employees an opportunity to interact outside of the work environment and to encourage operational departments to mix and share ideas.
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Edward Vinson Limited
Directors' report (continued)
For the year ended 31 December 2024
The directors and other key management regularly meet with customers and key suppliers to ensure that strong relationships are built and maintained. The management team are encouraged to learn from other businesses in the industry and collaborate where possible.
The Group's greenhouse gas emissions and energy consumption for the year as follows:
Fuel per The group's greenhouse gas emissions by fuel (tCO2e) are as follow:
• Red diesel (Gasoil) 251 • Road diesel 136 • Electricity 731 • Propane 18 • Petrol 10 Total 1,146 Fuel per hectare equates to 8.8218 tCO2e. Data was compiled from invoices and half hourly meters, which provide accurate energy usage. These figures were calculated using the Farm Carbon Calculator and based on the year ended 31 December 2024. An element of the emissions are offset by recycling and also parcels of farmland that remains wild and is not farmed.hectare equates to 8.9933 tCO2e.
The business continues to invest in energy-reducing equipment and processes. There is planned investment in solar energy and new facilities that have been designed with energy and other efficiencies in mind, for example efficient heating and cooling, reduction of vehicles and LED lighting.
There have been no significant events affecting the Group since the year end.
The auditor, Kreston Reeves LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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Edward Vinson Limited
Directors' report (continued)
For the year ended 31 December 2024
This report was approved by the board on
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Edward Vinson Limited
Independent auditor's report to the members of Edward Vinson Limited
We have audited the financial statements of Edward Vinson Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, 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 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 Group's or 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 directors with respect to going concern are described in the relevant sections of this report.
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Edward Vinson Limited
Independent auditor's report to the members of Edward Vinson Limited (continued)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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Edward Vinson Limited
Independent auditor's report to the members of Edward Vinson Limited (continued)
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 Group 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Capability of the audit in detecting irregularities, including fraud Based on our understanding of the group and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery, employment law and complying with the supermarket regulatory bodies. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and unidentified related party transactions. Audit procedures performed by the group engagement team included:
∙Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud, and review of the reports made by management; and
∙Assessment of identified fraud risk factors; and
∙Conducting interviews with appropriate personnel to gain further insight into the control systems implemented, and the risk of irregularity; and
∙Challenging assumptions and judgements made by management in its significant accounting estimates; and
∙Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
∙Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
∙Reading minutes of meetings of those charged with governance, and reviewing correspondence with relevant tax and regulatory authorities; and
∙Physical imspection of tangible assets susceptible to fraud or irregularity; and
∙Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
∙Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
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Edward Vinson Limited
Independent auditor's report to the members of Edward Vinson Limited (continued)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditor's 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Chatham Maritime
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Edward Vinson Limited
Consolidated statement of comprehensive income
For the year ended 31 December 2024
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Edward Vinson Limited
Registered number: 01741468
Consolidated balance sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 42 form part of these financial statements.
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Edward Vinson Limited
Registered number: 01741468
Company balance sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 42 form part of these financial statements.
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
15.Tangible fixed assets (continued)
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
15.Tangible fixed assets (continued)
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
Share premium account
Foreign exchange reserve
Profit and loss account
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund.
No premiums were accrued at the period end (2023 - £Nil)
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Edward Vinson Limited
Notes to the financial statements
For the year ended 31 December 2024
There is no ultimate controlling party of the company.
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