Registrar
Registration number:
North Maldon Growers Limited
for the Year Ended 31 March 2025
North Maldon Growers Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
North Maldon Growers Limited
Company Information
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Directors |
G V Bunting J Bunting H Howie J Howie R J Howie T M Howie P Tallowin D J Weston |
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Registered office |
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Bankers |
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Accountants |
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North Maldon Growers Limited
(Registration number: 00789590)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3,000 |
3,000 |
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Capital redemption reserve |
1,000 |
1,000 |
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Retained earnings |
638,709 |
554,848 |
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Shareholders' funds |
642,709 |
558,848 |
North Maldon Growers Limited
(Registration number: 00789590)
Balance Sheet as at 31 March 2025
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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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North Maldon Growers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
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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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of crops grown and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
Tax
Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
North Maldon Growers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Depreciation
Depreciation is charged so as to write off the cost or valuation of assets over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land and buildings |
5%,straight line or not provided |
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Plant and machinery |
20%/25% reducing balance |
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Motor vehicles |
20% reducing balance |
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Office equipment |
25% straight line |
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Harvesters |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for produce sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at cost for packing and storage materials and at 75% of the market value for unsold produce.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
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.
Share capital
Ordinary shares are classified as equity.
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.
North Maldon Growers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
North Maldon Growers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Tangible assets |
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Land and buildings |
Office equipment |
Motor vehicles |
Harvesters |
Plant and Machinery |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
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- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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- |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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- |
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North Maldon Growers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Stocks |
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2025 |
2024 |
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Stocks |
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74,095 |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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- |
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Accruals |
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Corporation tax |
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25,615 |
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Creditors include bank loans which are secured of £43,079 (2024 - £40,815).
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans which are secured of £66,953 (2024 - £112,295).
North Maldon Growers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Related party transactions |
Summary of transactions with other related parties
The company also purchased goods and services from businesses that the directors are involved in, amounting to £682,976 (2024 - £782,955) of which £nil (2024 - £1,800) was outstanding at the year end.