REGISTERED NUMBER: 05867693 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ELVEDEN PRODUCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J B Allpress

A I Blenkiron

REGISTERED OFFICE:

Estate Office

Elveden

Thetford

Norfolk

IP24 3TQ

REGISTERED NUMBER:

05867693 (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

88,414

-

Investments

6

50

50

88,464

50

CURRENT ASSETS

Stocks

14,831

-

Debtors

7

1,299,108

1,299,765

Cash and cash equivalents

429,639

427,618

1,743,578

1,727,383

CREDITORS

Amounts falling due within one year

8

(1,613,822

)

(1,560,003

)

NET CURRENT ASSETS

129,756

167,380

TOTAL ASSETS LESS CURRENT LIABILITIES

218,220

167,430

CREDITORS

Amounts falling due after more than one year

9

(67,533

)

-

NET ASSETS

150,687

167,430

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

150,587

167,330

SHAREHOLDERS' FUNDS

150,687

167,430

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 16 August 2025 and were signed on its behalf by:

J B Allpress - Director

A I Blenkiron - Director

1.	STATUTORY INFORMATION

Elveden Produce 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.

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 in respect of the wholesale of Onions. The following criteria must be met before revenue is recognised:

Sale of produce:

Revenue from the sale of Onions 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

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 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 balance sheet date.

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.

Pension costs and other post-retirement benefits

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Going concern

In assessing the company’s ability to continue as a going concern, the Directors have considered the liquidity position and reviewed cash flow forecasts for the foreseeable future. The company has adequate financial resources and as a consequence, the members believe that the company is well placed to manage its business risks successfully and meet its liabilities as they fall due. For this reason, the Directors continue to adopt the going concern basis in preparing the accounts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

101,344

At 31 December 2024

101,344

DEPRECIATION

Charge for year

12,930

At 31 December 2024

12,930

NET BOOK VALUE

At 31 December 2024

88,414

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

101,344

At 31 December 2024

101,344

DEPRECIATION

Charge for year

12,930

At 31 December 2024

12,930

NET BOOK VALUE

At 31 December 2024

88,414

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

50

NET BOOK VALUE

At 31 December 2024

50

At 31 December 2023

50

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,270,127

1,294,695

Other debtors

28,981

5,070

1,299,108

1,299,765

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

17,496

-

Trade creditors

431,671

12,093

Amounts owed to associates

1,056,919

1,427,634

Taxation and social security

97,661

95,379

Other creditors

10,075

24,897

1,613,822

1,560,003

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

67,533

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

85,029

-

Liabilities acquired under hire purchase agreements are secured against the asset to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

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

The Report of the Auditors was unqualified.

Andrew Rand BA FCA (Senior Statutory Auditor)

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

13.	RELATED PARTY DISCLOSURES

During the year under review the company made purchases of £7,230,072(2023 : £6,790,483). The amount outstanding at the balance sheet date amounts to £1,056,919 (2023: £1,427,634) and is disclosed with amounts owed from associated undertakings within creditors due in less than one year.