Registration number: SC658340

What's Fresh Limited

Contents

Accountants' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
What's Fresh Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of What's Fresh Limited for the year ended 31 March 2025 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of What's Fresh Limited, as a body, in accordance with the terms of our engagement letter dated 14 September 2023. Our work has been undertaken solely to prepare for your approval the accounts of What's Fresh Limited and state those matters that we have agreed to state to the Board of Directors of What's Fresh Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than What's Fresh Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that What's Fresh Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of What's Fresh Limited. You consider that What's Fresh Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of What's Fresh Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

21 October 2025

What's Fresh Limited

(Registration number: SC658340)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	9,657	12,187
Tangible assets	5	937,645	873,368
		947,302	885,555
Current assets
Stocks		68,500	25,000
Debtors	6	158,223	9,169
Cash at bank and in hand		20,365	19,533
		247,088	53,702
Creditors: Amounts falling due within one year	7	(735,499)	(465,915)
Net current liabilities		(488,411)	(412,213)
Total assets less current liabilities		458,891	473,342
Creditors: Amounts falling due after more than one year	7	(857,183)	(749,070)
Net liabilities		(398,292)	(275,728)
Capital and reserves
Allotted, called up and fully paid share capital		1	1
Share premium reserve		99,999	99,999
Profit and loss account		(498,292)	(375,728)
Total equity		(398,292)	(275,728)

What's Fresh Limited

(Registration number: SC658340)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:
 

.........................................

R Neilson

Director

.........................................

B P Cuthbertson

Director

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Park Farm Auldhouse
East Kilbride
GLASGOW
G75 0QL

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net liabilities at 31 March 2025 and meets its day to day working capital requirements through support from the directors, and relatives of the directors, by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of the directors and the directors' relatives, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Buildings	20 years straight line
Plant and equipment	10% and 25% reducing balance
Motor vehicles	25% reducing balance
Furniture, fittings and office equipment	3 years straight line

Intangible assets

Software development costs are shown at historical cost. Software development costs have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Internally generated software development costs	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2024 - 15).

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 April 2024	20,000	20,000
Additions	690	690
At 31 March 2025	20,690	20,690
Amortisation
At 1 April 2024	7,813	7,813
Amortisation charge	3,220	3,220
At 31 March 2025	11,033	11,033
Carrying amount
At 31 March 2025	9,657	9,657
At 31 March 2024	12,187	12,187

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5	Tangible assets

	Land and buildings £	Plant and equipment  £	Motor vehicles  £	Furniture, fittings and office equipment  £	Total £
Cost or valuation
At 1 April 2024	240,938	440,410	309,290	6,490	997,128
Additions	1,020	45,107	174,170	2,982	223,279
Disposals	-	(17,400)	(3,000)	-	(20,400)
At 31 March 2025	241,958	468,117	480,460	9,472	1,200,007
Depreciation
At 1 April 2024	19,883	67,823	34,195	1,859	123,760
Charge for the year	12,047	38,638	87,786	2,915	141,386
Eliminated on disposal	-	(2,784)	-	-	(2,784)
At 31 March 2025	31,930	103,677	121,981	4,774	262,362
Carrying amount
At 31 March 2025	210,028	364,440	358,479	4,698	937,645
At 31 March 2024	221,055	372,587	275,095	4,631	873,368

6

Debtors

	2025 £	2024 £
Trade debtors	127,214	-
Other debtors	31,009	9,169
	158,223	9,169

What's Fresh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	346,800	119,227
Trade creditors		270,353	263,689
Taxation and social security		13,502	12,586
Other creditors		104,844	70,413
		735,499	465,915
Due after one year
Loans and borrowings	8	737,325	617,561
Other creditors		119,858	131,509
		857,183	749,070

8	Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	49,437	-
Finance lease liabilities	90,534	61,879
Other borrowings	206,829	57,348
	346,800	119,227

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

	2025 £	2024 £
Bank borrowings	49,437	-
Finance lease liabilities	90,534	61,879
	139,971	61,879

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.