REGISTERED NUMBER: 05227724 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FRESH-CUT FRUIT & VEG LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P Petrou

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

05227724 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Tangible assets

4

793,198

830,088

Investment property

5

7,874,139

7,264,755

8,667,337

8,094,843

CURRENT ASSETS

Stocks

29,243

21,661

Debtors

6

737,549

683,126

Cash at bank and in hand

71,142

24,411

837,934

729,198

CREDITORS

Amounts falling due within one year

7

8,449,775

7,441,810

NET CURRENT LIABILITIES

(7,611,841

)

(6,712,612

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,055,496

1,382,231

CREDITORS

Amounts falling due after more than one year

8

(209,500

)

(291,711

)

PROVISIONS FOR LIABILITIES

(10,099

)

-

NET ASSETS

835,897

1,090,520

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

835,797

1,090,420

835,897

1,090,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 September 2025 and were signed by:

Mr P Petrou - Director

1.	STATUTORY INFORMATION

Fresh-Cut Fruit & Veg Ltd 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.	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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

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

Revenue represents the value of rental income chargeable in respect of the company's investment property.

Revenue is recognised evenly over the period of the rental agreement.

Tangible fixed assets

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Freehold buildings - 2% on straight line

Fixtures and fittings - 25% on reducing balance

Motor vehicle - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories

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

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 material 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.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2023

837,996

378,964

169,470

1,386,430

Additions

-

3,715

-

3,715

At 30 September 2024

837,996

382,679

169,470

1,390,145

DEPRECIATION

At 1 October 2023

117,319

339,695

99,328

556,342

Charge for year

16,760

9,817

14,028

40,605

At 30 September 2024

134,079

349,512

113,356

596,947

NET BOOK VALUE

At 30 September 2024

703,917

33,167

56,114

793,198

At 30 September 2023

720,677

39,269

70,142

830,088

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

2024

2023

£

£

Vehicle - Cost

99,720

99,720

Depreciation-Accumulated

(39,864)

(24,900)

Depreciation-Charge for the year

(11,970)

(14,964)

Net book value

47,886

59,856

.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

7,264,755

Additions

609,384

At 30 September 2024

7,874,139

NET BOOK VALUE

At 30 September 2024

7,874,139

At 30 September 2023

7,264,755

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

2024

2023

£

£

Investment Property - cost

229,318

180,000

Depreciation-Accumulated

(36,000)

(0)

Depreciation-Charge for the year

(28,800)

(36,000)

Net book value

164,518

144,000

Investment property was valued on an open market basis on 30 September 2024 by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

219,253

282,994

Other debtors

518,296

400,132

737,549

683,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

7,550,476

6,848,329

Hire purchase contracts

64,634

54,523

Trade creditors

568,227

468,018

Taxation and social security

123,714

38,599

Other creditors

142,724

32,341

8,449,775

7,441,810

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

73,438

137,505

Hire purchase contracts

136,062

154,206

209,500

291,711

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

7,550,476

6,848,329

Amounts falling due between one and two years:

Bank loans - 1-2 years

73,438

137,505

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

7,623,914

6,985,834

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

11.	RELATED PARTY DISCLOSURES

Included in debtors less than one year, is an amount of £Nil (2023: £107,864) due from the directors of the company.