REGISTERED NUMBER: 03327555 (England and Wales)

G-VEG LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G Read

Mrs P Read

SECRETARY:

Mrs P Read

REGISTERED OFFICE:

Mill Farm Seadyke Road

Old Leake

Boston

Lincolnshire

PE22 9HY

REGISTERED NUMBER:

03327555 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

Rollestone House

20-22 Bridge Street

Horncastle

Lincolnshire

LN9 5HZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,959,263

4,890,766

4,959,263

4,890,766

CURRENT ASSETS

Stocks

-

164,453

Debtors

6

4,316,216

189,657

Cash at bank

35,093

4,565,099

4,351,309

4,919,209

CREDITORS

Amounts falling due within one year

7

216,876

679,331

NET CURRENT ASSETS

4,134,433

4,239,878

TOTAL ASSETS LESS CURRENT LIABILITIES

9,093,696

9,130,644

CREDITORS

Amounts falling due after more than one year

8

(38,934

)

(45,805

)

PROVISIONS FOR LIABILITIES

(59,326

)

(296,640

)

NET ASSETS

8,995,436

8,788,199

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

8,995,236

8,787,999

SHAREHOLDERS' FUNDS

8,995,436

8,788,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2025 and were signed on its behalf by:

G Read - Director

1.	STATUTORY INFORMATION

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

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets

Entitlements are stated at cost, less amortisation. Following recent CAP reforms amortisation of the entitlement purchased in the year is provided for on a straight line basis over the estimated economic life of 7 years.

Tangible fixed assets

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

Freehold land

-

Nil

Tractors and farm equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost, cost of production or net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 1 April 2024

and 31 March 2025

14,914

AMORTISATION

At 1 April 2024

and 31 March 2025

14,914

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Tractors

Freehold

and farm

land

equipment

Totals

£

£

£

COST

At 1 April 2024

3,704,201

2,870,129

6,574,330

Additions

1,017,753

-

1,017,753

Disposals

-

(2,327,523

)

(2,327,523

)

At 31 March 2025

4,721,954

542,606

5,264,560

DEPRECIATION

At 1 April 2024

-

1,683,564

1,683,564

Charge for year

-

41,878

41,878

Eliminated on disposal

-

(1,420,145

)

(1,420,145

)

At 31 March 2025

-

305,297

305,297

NET BOOK VALUE

At 31 March 2025

4,721,954

237,309

4,959,263

At 31 March 2024

3,704,201

1,186,565

4,890,766

Included in cost of land and buildings is freehold land of £ 3,702,668 (2024 - £ 3,702,668 ) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

183,360

Other debtors

3,831

3,821

S Farms Ltd

4,200,000

-

VAT

900

-

Prepayments and accrued income

111,485

2,476

4,316,216

189,657

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,577

7,722

Corporation Tax

156,144

595,998

Social security and other taxes

3,831

3,855

VAT

-

14,941

Directors' current accounts

43,828

43,832

Accruals and deferred income

1,762

1,532

Deferred government grants

9,734

11,451

216,876

679,331

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Deferred government grants

38,934

45,805

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£