REGISTERED NUMBER: 00580195 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

G.W.Price Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Mr P Ashby

Mr W Brunt

Mr R E J Plant

Mr J A Plant

Mrs J Plant

Ms D Willoughby

Mrs S Plant

SECRETARY:

Mr J A Plant

REGISTERED OFFICE:

1 Waters Reach, Rotherside Road

Eckington

Sheffield

S21 4HL

REGISTERED NUMBER:

00580195 (England and Wales)

AUDITORS:

SMH Group Audit

Statutory Auditors

5 Westbrook Court

Sharrow Vale Road

Sheffield

South Yorkshire

S11 8YZ

The directors present their strategic report for the year ended 31 March 2025.

PRINCIPAL RISKS AND UNCERTAINTIES

The wholesale market remains highly competitive. This competitive risk manifests itself in increased competition for staff and clients, service development and pricing pressures.

Business risk is also attached to the viability of the company's client base, however these debts are insured wherever possible and the inherent risk minimised.

PERFORMANCE MONITORING

The board monitors the company's performance in a number of ways including key performance indicators. The key financial performance indicators for the company are as follows:

2025

2024

£

£

Revenue

11,437,774

11,287,325

Gross Profit Margin

26.2%

21.9%

Operating Profit Margin

3.4%

1.1%

Current Ratio

1.63:1

1.35:1

The revenue indicator represents the value of goods delivered to customers in the year and measures sales reduction in value terms.

The gross profit margin is calculated by dividing gross profit by revenue and measures the total profitability of product sales.

The operating profit margin is the profit generated by the company from operations excluding finance and investment income and costs before taxation. This indicator measures the overall profitability of the business for the year.

The current ratio indicator represents the value of the company's current assets to its current liabilities and measures the ability of the company to finance its current liabilities from business operations as they fall due.

ON BEHALF OF THE BOARD:

Mr J A Plant - Director

4 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a wholesaler of fruit and vegetables.

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary £1 shares

£7,200

- 31 March 2025

Ordinary A £1 shares

£53,154

- 31 March 2025

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 60,354 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr P Ashby

Mr W Brunt

Mr R E J Plant

Mr J A Plant

Mrs J Plant

Ms D Willoughby

Mrs S Plant

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

-	make judgements 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr J A Plant - Director

4 December 2025

Opinion

We have audited the financial statements of G.W.Price Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 March 2025 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 UK, including the FRC'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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have 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 Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment of the susceptibility to material misstatement, whether by fraud or error, is made in a risk based

approach. In this approach, laws and regulations applicable to the entity, such as the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102, the relevant tax compliance regulations within the UK, employment law, and Health and Safety law is considered, and the policies and controls the entity has in place to comply with these laws are reviewed, by discussion, reviews of correspondence and registrations monitored by external bodies. The engagement team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Policies and controls relating to the risk of material misstatement as a result of fraud are also considered. These are

assessed by obtaining an understanding of the company's operations and control environment. The policies and

controls have been reviewed by discussion, review and sample testing of accounting entries, challenging assumptions and judgements, reviewing and evaluating related parties transactions, and wider background searches. Testing of cut off and income recognition is also completed.

We have ensured that the engagement team have appropriate levels of competence and experience to effectively

monitor these risks and carry out work relevant to our assessment of each risk, including consideration of the industry the company operates in and its size and complexity.

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 Report of the Auditors.

Other matters which we are required to address

The comparative figures have not been audited as the audit exemption was taken. As far as we are aware, there is no material misstatement in those figures.

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 a Report of the Auditors 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.

James Salim FCCA (Senior Statutory Auditor)

for and on behalf of SMH Group Audit

Statutory Auditors

5 Westbrook Court

Sharrow Vale Road

Sheffield

South Yorkshire

S11 8YZ

4 December 2025

TURNOVER

3

11,437,774

11,287,325

Cost of sales

8,439,953

8,820,654

GROSS PROFIT

2,997,821

2,466,671

Administrative expenses

2,635,415

2,387,629

362,406

79,042

Other operating income

24,000

50,353

OPERATING PROFIT

5

386,406

129,395

Interest receivable and similar income

5,820

300

392,226

129,695

Interest payable and similar expenses

6

-

495

PROFIT BEFORE TAXATION

392,226

129,200

Tax on profit

7

92,443

13,701

PROFIT FOR THE FINANCIAL YEAR

299,783

115,499

PROFIT FOR THE YEAR

299,783

115,499

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

299,783

115,499

FIXED ASSETS

Tangible assets

9

297,551

337,627

Investments

10

2

2

297,553

337,629

CURRENT ASSETS

Stocks

11

83,897

89,307

Debtors

12

1,361,846

1,748,519

Cash at bank and in hand

587,494

137,170

2,033,237

1,974,996

CREDITORS

Amounts falling due within one year

13

1,250,495

1,458,559

NET CURRENT ASSETS

782,742

516,437

TOTAL ASSETS LESS CURRENT LIABILITIES

1,080,295

854,066

PROVISIONS FOR LIABILITIES

15

-

12,800

NET ASSETS

1,080,295

841,266

CAPITAL AND RESERVES

Called up share capital

16

4,000

4,400

Revaluation reserve

92,901

123,111

Retained earnings

983,394

713,755

SHAREHOLDERS' FUNDS

1,080,295

841,266

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

Mr J A Plant - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

4,400

641,312

124,199

769,911

Changes in equity

Dividends

-

(44,144

)

-

(44,144

)

Total comprehensive income

-

116,587

(1,088

)

115,499

Balance at 31 March 2024

4,400

713,755

123,111

841,266

Changes in equity

Issue of share capital

(400

)

-

-

(400

)

Dividends

-

(60,354

)

-

(60,354

)

Total comprehensive income

-

329,993

(30,210

)

299,783

Balance at 31 March 2025

4,000

983,394

92,901

1,080,295

Cash flows from operating activities

Cash generated from operations

1

538,216

(208,352

)

Interest paid

-

(495

)

Tax paid

(900

)

7,512

Net cash from operating activities

537,316

(201,335

)

Cash flows from investing activities

Purchase of tangible fixed assets

(29,337

)

(61,818

)

Interest received

5,820

300

Net cash from investing activities

(23,517

)

(61,518

)

Cash flows from financing activities

Amount introduced by directors

40,238

-

Amount withdrawn by directors

(43,359

)

(960

)

Equity dividends paid

(60,354

)

(44,144

)

Net cash from financing activities

(63,475

)

(45,104

)

Increase/(decrease) in cash and cash equivalents

450,324

(307,957

)

Cash and cash equivalents at beginning of year

2

137,170

445,127

Cash and cash equivalents at end of year

2

587,494

137,170

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

392,226

129,200

Depreciation charges

69,412

60,917

Finance costs

-

495

Finance income

(5,820

)

(300

)

455,818

190,312

Decrease in stocks

5,410

18,479

Decrease/(increase) in trade and other debtors

356,477

(480,282

)

(Decrease)/increase in trade and other creditors

(279,489

)

63,139

Cash generated from operations

538,216

(208,352

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

587,494

137,170

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

137,170

445,127

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

137,170

450,324

587,494

137,170

450,324

587,494

Total

137,170

450,324

587,494

1.	STATUTORY INFORMATION

G.W.Price 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

Reporting period

The Financial Statements are drawn up to 6 April 2025 ("the financial year"), which is within 7 days of the company's accounting reference date (31 March). Comparative figures are drawn up to 31 March 2024.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and 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 constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

11,437,774

11,287,325

11,437,774

11,287,325

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,440,791

1,314,358

Social security costs

121,976

121,034

Other pension costs

33,579

2,662

1,596,346

1,438,054

The average number of employees during the year was as follows:

2025

2024

Staff

56

50

Directors

7

7

63

57

2025

2024

£

£

Directors' remuneration

156,924

146,463

Directors' pension contributions to money purchase schemes

3,402

3,410

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Other operating leases

41,053

50,028

Depreciation - owned assets

69,413

60,917

Auditors' remuneration

11,950

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

-

495

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

112,042

901

Deferred tax

(19,599

)

12,800

Tax on profit

92,443

13,701

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

392,226

129,200

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 19%)

98,057

24,548

Effects of:

Expenses not deductible for tax purposes

224

-

Capital allowances in excess of depreciation

(5,838

)

-

Depreciation in excess of capital allowances

-

13,611

Utilisation of tax losses

-

(24,458

)

Total tax charge

92,443

13,701

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

7,200

44,144

Ordinary A shares of £1 each

Interim

53,154

-

60,354

44,144