ACCOUNTS - Final Accounts

Staff costs were as follows:

Registered number: 13775327

EMERY SOFT FRUITS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

EMERY SOFT FRUITS LIMITED

COMPANY INFORMATION

Directors	S Bingham
	J Emery
	M Jarrett


Registered number	13775327


Registered office	Riverside Farm Tutts Lane
	West Wellow
	Romsey
	Hampshire
	SO51 6DW


Independent auditors	Kreston Reeves LLP
	Chartered Accountants & Statutory Auditor
	85 Birdham Road
	Chichester
	West Sussex
	PO20 7AJ


Accountants	Barnes Roffe Advisory Limited
	Chartered Accountants
	Charles Lake House
	Crossways Business Park, Crossways Blvd
	Dartford
	Kent
	DA2 6QA

EMERY SOFT FRUITS LIMITED

CONTENTS

	Page
Directors' report	1 - 2
Independent auditors' report	3 - 6
Statement of comprehensive income	7
Balance sheet	8 - 9
Statement of changes in equity	10
Notes to the financial statements	11 - 26

EMERY SOFT FRUITS 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.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

S Bingham

J Emery

M Jarrett

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, Kreston Reeves LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

EMERY SOFT FRUITS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

This report was approved by the board and signed on its behalf.

M Jarrett

Director

Date: 26 September 2025

Page 2

EMERY SOFT FRUITS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMERY SOFT FRUITS LIMITED

Opinion

We have audited the financial statements of Emery Soft Fruits Limited (the 'company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Balance sheet, the 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 our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 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.

Page 3

EMERY SOFT FRUITS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMERY SOFT FRUITS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Page 4

EMERY SOFT FRUITS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMERY SOFT FRUITS LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

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 Auditors' 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 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 company 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 and employment law. 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 judgemental areas of the financial statements.
Audit procedures performed by the 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 a review of the reports made by management; and
•Assessment of identified fraud risk factors; and
•Challenging assumptions and judgements made by management in its significant accounting estimates particularly with regard to the biological asset valuation; 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
•Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
•Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and
•Checking and reperforming the reconciliation of key control accounts; and
•Reading minutes of meetings of those charged with governance, and reviewing correspondence with relevant tax and regulatory authorities; and
•Review of internal controls and physical inspection 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
•Physical verification of stock through attendance of the year-end Stock-take and analytical procedures undertaken on stock valuation; and
•Confirmation of employee existence through substantive testing.

Page 5

EMERY SOFT FRUITS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMERY SOFT FRUITS 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 Auditors' report.

Use of our 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 Auditors' 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.

Simon Webber (Hons), DChA, FCA (Senior statutory auditor)

for and on behalf of

Kreston Reeves LLP

Chartered Accountants & Statutory Auditor

85 Birdham Road

Chichester

West Sussex

PO20 7AJ

Date: 29 September 2025

Page 6

EMERY SOFT FRUITS LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	15,642,648	10,823,683
Cost of sales		(12,449,618)	(9,024,574)
Gross profit		3,193,030	1,799,109
Administrative expenses		(2,274,191)	(1,803,935)
Other operating income	5	75,467	19,215
Operating profit		994,306	14,389
Interest receivable and similar income		2,516	-
Interest payable and similar expenses	9	(128,122)	(172,525)
Profit/(loss) before tax		868,700	(158,136)
Tax on profit/(loss)	10	(353,119)	61,303
Profit/(loss) for the financial year		515,581	(96,833)

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 11 to 26 form part of these financial statements.

Page 7

EMERY SOFT FRUITS LIMITED

REGISTERED NUMBER: 13775327

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	11		1,068,946		1,209,906
Tangible assets	12		1,970,808		1,546,825
Investments	13		3		-
			3,039,757		2,756,731
Current assets
Stocks	14	523,072		548,646
Debtors: amounts falling due within one year	15	1,371,867		718,169
Cash at bank and in hand	16	452,694		51,120
		2,347,633		1,317,935
Creditors: amounts falling due within one year	17	(2,899,468)		(2,923,337)
Net current liabilities			(551,835)		(1,605,402)
Total assets less current liabilities			2,487,922		1,151,329
Creditors: amounts falling due after more than one year	18		(867,253)		(128,521)
Provisions for liabilities
Deferred tax	20		(176,002)		(93,722)
Net assets			1,444,667		929,086

Capital and reserves
Called up share capital	21	10,000	10,000
Profit and loss account		1,434,667	919,086
		1,444,667	929,086

Page 8

EMERY SOFT FRUITS LIMITED

REGISTERED NUMBER: 13775327

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M Jarrett

Director

Date: 26 September 2025

The notes on pages 11 to 26 form part of these financial statements.

Page 9

EMERY SOFT FRUITS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	10,000	919,086	929,086

Profit for the year	-	515,581	515,581
At 31 December 2024	10,000	1,434,667	1,444,667

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	10,000	1,015,919	1,025,919

Loss for the year	-	(96,833)	(96,833)
At 31 December 2023	10,000	919,086	929,086

The notes on pages 11 to 26 form part of these financial statements.

Page 10

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Riverside Farm Tutts Lane, West Wellow, Romsey, Hampshire, England, SO51 6DW. The principal activity of the company during the year has been that of the growing of other tree and bush fruits and nuts.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Greosn Limited as at 31 December 2024 and these financial statements may be obtained from Newlands, Pagham Road, Lagness, Chichester, West Sussex, PO20 1LL.

2.3

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

2.4

Going concern

The company continues to enjoy the support of it's parent company and fellow subsidiaries in order to meets its working capital requirements which fluctuate throughout the year. This coupled with a more positive outlook for the company means the directors are confident that the company has the ability to continue to meet its obligations as they fall due. Accordingly, the financial statements have been prepared on a going concern basis.

Page 11

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Revenue

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 also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods 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.

2.6

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 12

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Pensions

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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 13

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.13

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life which is considered to be 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:

Long-term leasehold property	-	10%	Straight line
Plant and machinery	-	25%	Straight line
Motor vehicles	-	25%	Reducing balance
Fixtures and fittings	-	20%	Straight line
Office equipment	-	25%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Assets under the course of construction are not depreciated until they are ready to be bought into use.

Page 14

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.15

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.16

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.20

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 15

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.21

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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 the Statement of comprehensive income.
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

a) Critical judgements in applying the company's accounting policies
No significant judgements have had to be made by management in preparing these financial statements.
b) Key accounting estimates and assumptions
The company has made key assumptions regarding the useful economic life of tangible and intangible fixed assets and this is further described in note 2.13 and 2.14 of the accounting policies.

4.	Turnover
		2024	2023
		£	£

Sales	15,642,648	10,823,683
	15,642,648	10,823,683

All turnover arose within the United Kingdom.

Page 16

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Other operating income
		2024	2023
		£	£

Government grants receivable	9,148	7,953
Commissions receivable	66,319	11,262
	75,467	19,215

6.	Auditors' remuneration
		2024	2023
		£	£

Fees payable to the company's auditors for the audit of the company's financial statements

14,250

19,500

Wages and salaries	5,785,074	4,777,973
Social security costs	538,287	443,107
Cost of defined contribution scheme	32,084	30,405
	6,355,445	5,251,485

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Director	3	3
Staff	13	18
Seasonal staffs	165	153

	181	174

Page 17

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Interest receivable
		2024	2023
		£	£

	Interest receivable on corporation tax	2,516	-
		2,516	-

9.	Interest payable and similar expenses
		2024	2023
		£	£

Other loan interest payable	69,597	68,660
Loans from group undertakings	38,207	66,763
Finance leases and hire purchase contracts	20,318	27,236
Interest payable on overdue tax	-	9,866
	128,122	172,525

Corporation tax
Current tax on profits for the year	271,382	(31,933)
Adjustments in respect of previous periods	(543)	13,843

Total current tax	270,839	(18,090)

	Deferred tax
	Origination and reversal of timing differences	82,280	(43,213)


		353,119	(61,303)

Page 18

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.Taxation (continued)

Profit/(loss) on ordinary activities before tax

868,700

(158,136)

Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)	217,175	(30,046)
Effects of:
Non-tax deductible amortisation of goodwill and impairment	35,240	26,783
Expenses not deductible/(income for chargeable) for tax purposes, other than goodwill amortisation and impairment	559	(3,291)
Capital allowances for year in excess of depreciation	18,408	764
Adjustment in respect of prior period	(543)	13,843
Chargeable gains	-	684
Changes in tax rate	-	5,106
Loss carry back to offset againt last year profit	-	(31,933)
Deferred tax	82,280	(43,213)
Total tax charge for the year	353,119	(61,303)

Page 19

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.Taxation (continued)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

11.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2024	1,409,599
	At 31 December 2024	1,409,599
	Amortisation
	At 1 January 2024	199,693
	Charge for the year on owned assets	140,960
	At 31 December 2024	340,653
	Net book value
	At 31 December 2024	1,068,946
	At 31 December 2023	1,209,906

Page 20


		EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	12.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	255,781	601,023	196,679	928,692	1,982,175
Additions	89,373	501,642	20,949	366,453	978,417
Disposals	-	(59,151)	-	-	(59,151)
At 31 December 2024	345,154	1,043,514	217,628	1,295,145	2,901,441
Depreciation
At 1 January 2024	28,511	200,169	63,354	143,316	435,350
Charge for the year on owned assets	33,260	187,355	38,165	236,503	495,283
At 31 December 2024	61,771	387,524	101,519	379,819	930,633
Net book value
At 31 December 2024	283,383	655,990	116,109	915,326	1,970,808
At 31 December 2023	227,270	400,854	133,325	785,376	1,546,825

Page 21

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2024	2023
	£	£


Plant and machinery	103,251	153,451
Motor vehicles	72,449	96,599
	175,700	250,050

13.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	3
	At 31 December 2024	3

Subsidiary undertaking
The following was a subsidiary undertaking of the company:
Name	Registered office	Class of shares	Holding

Emery Soft Fruits PTY

South Africa

Ordinary

85%

	The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:
	Name	Aggregate of share capital and reserves

Emery Soft Fruits PTY

Page 22

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	Stocks
		2024	2023
		£	£

Raw materials and consumables	413,065	394,072
Work in progress	110,007	154,574
	523,072	548,646

15.

Debtors

					2024	2023
					£	£


Trade debtors	184,263	79,270
Amounts owed by group undertakings	596,533	-
Other debtors	392,648	130,939
Prepayments and accrued income	198,423	507,960
	1,371,867	718,169

16.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	452,694	51,120
Less: bank overdrafts	-	(20)
	452,694	51,100

Page 23

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	-	20
Trade creditors	1,274,394	1,154,600
Amounts owed to group undertakings	200,000	589,896
Corporation tax	234,990	110,211
Other taxation and social security	232,248	79,049
Obligations under finance lease and hire purchase contracts	82,788	82,865
Other creditors	851,040	726,196
Accruals and deferred income	24,008	180,500
	2,899,468	2,923,337

18.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Net obligations under finance leases and hire purchase contracts	200,586	128,521
Other creditors	666,667	-
	867,253	128,521

Hire purchase liabilities amounting to £283,374 (2023 - £211,386) are secured over the assets to which they relate.

Within one year	82,788	82,865
Between 1-5 years	200,586	128,521
	283,374	211,386

Page 24

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

20.	Deferred taxation

	2024	2023
	£	£

At beginning of year	(93,722)	(136,935)
Charged/(credited) to profit or loss	(82,280)	43,213
At end of year	(176,002)	(93,722)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

	Accelerated capital allowances	(176,002)	(93,722)
		(176,002)	(93,722)

21.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

10,000 (2023 - 10,000) Ordinary shares of £1.00 each	10,000	10,000

22.	Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £32,084 (2023:£30,405). Contributions totalling £2,745 (2023:£1,362) were payable to the fund at the balance sheet date and are included in creditors.

Page 25

EMERY SOFT FRUITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Not later than 1 year	245,262	252,043
Later than 1 year and not later than 5 years	565,475	721,683
Later than 5 years	224,932	299,636
	1,035,669	1,273,362

24.

Related party transactions

The company is exempt from disclosing other related party transactions as they are with other companies that are wholly owned within the group.
At the year end the company owes a director £3,196 (2023: £2,125); this amount is interest free and repayable on demand.
During the year funds were advanced to a subsidiary company amounting to £596,533 (2023: £nil) these amounts were still outstanding at the year end.

25.	Controlling party

The immediate parent undertaking is Greosn Limited, a company incorporated in England and Wales. Greosn Limited prepares publicly available consolidated financial statements that are available from the registered office, Newlands, Pagham Road, Lagness, Chichester, West Sussex, PO20 1LL.
The ultimate parent undertaking is Greosn Holdings Limited, a company incorporated in England and Wales. Greosn Holdings Limited also prepared publicly avaialble consolidated financial statements that are available from the registered office.

Page 26