Company registration number SC368104 (Scotland)
P D PRODUCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
P D PRODUCE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
P D PRODUCE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr J Collins
Mr J A Fairfull
Company number
SC368104
Registered office
C/O Consilium Chartered Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
Scotland
G2 2LB
Business address
Stance D7, D8 & D9
Glasgow Fruit Market
130 Blochairn Road
Glasgow
G21 2DU
P D PRODUCE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
35,058
53,958
Tangible assets
4
327,679
351,493
362,737
405,451
Current assets
Stocks
24,647
38,825
Debtors
5
621,244
924,253
Cash at bank and in hand
510,121
528,913
1,156,012
1,491,991
Creditors: amounts falling due within one year
6
(1,113,673)
(1,659,137)
Net current assets/(liabilities)
42,339
(167,146)
Total assets less current liabilities
405,076
238,305
Creditors: amounts falling due after more than one year
7
(63,333)
(45,833)
Provisions for liabilities
8
(78,954)
(84,596)
Net assets
262,789
107,876
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
262,689
107,776
Total equity
262,789
107,876

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

P D PRODUCE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 31 March 2026 and are signed on its behalf by:
Mr J A Fairfull
Director
Company Registration No. SC368104
P D PRODUCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
1
Accounting policies
Company information

P D Produce Limited is a private company limited by shares incorporated in Scotland. The registered office is C/O Consilium Chartered Accountants, 169 West George Street, Glasgow, United Kingdom, G2 2LB. The company's registration number is SC368104. The company's business address is Stance D7, D8 & D9, Glasgow Fruit Market, 130 Blochairn Road, Glasgow, G21 2DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the year less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point of sale to the customer.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2012 and 2022, has been amortised evenly over its estimated useful life of five years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures and fittings
25% reducing balance
Equipment
20% reducing balance
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are valued at the lower of cost and net realisable value. Cost represents purchase price.

P D PRODUCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

P D PRODUCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value, and are depreciated in accordance with the above depreciation policies.

Future instalments payable under such agreements, net of finance charges, are included within creditors. Rentals payable are apportioned between the capital element, which reduces the outstanding obligation included within creditors, and the finance element, which is charged to the profit and loss accoun t on a straight line basis.

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Total
16
15
P D PRODUCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
164,500
Amortisation and impairment
At 1 January 2025
110,542
Amortisation charged for the year
18,900
At 31 December 2025
129,442
Carrying amount
At 31 December 2025
35,058
At 31 December 2024
53,958
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
54,393
79,637
29,041
840,917
1,003,988
Additions
5,250
3,350
6,684
91,949
107,233
Disposals
-
0
-
0
-
0
(32,957)
(32,957)
At 31 December 2025
59,643
82,987
35,725
899,909
1,078,264
Depreciation and impairment
At 1 January 2025
45,597
25,845
18,524
562,529
652,495
Depreciation charged in the year
3,183
13,658
3,430
109,677
129,948
Eliminated in respect of disposals
-
0
-
0
-
0
(31,858)
(31,858)
At 31 December 2025
48,780
39,503
21,954
640,348
750,585
Carrying amount
At 31 December 2025
10,863
43,484
13,771
259,561
327,679
At 31 December 2024
8,796
53,792
10,517
278,388
351,493
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
578,982
889,402
Other debtors
42,262
34,851
621,244
924,253
P D PRODUCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
670,669
1,410,395
Amounts owed to group undertakings
-
0
293
Taxation and social security
378,581
195,061
Other creditors
64,423
53,388
1,113,673
1,659,137

Included within other creditors is £39,500 (2024 - £27,500) relating to hire purchase creditors. Hire purchase creditors are secured over the individual assets to which they relate.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
63,333
45,833

Included within other creditors is £63,333 (2024 - £45,833) relating to hire purchase creditors. Hire purchase creditors are secured over the individual assets to which they relate.

8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
9
78,954
84,596
9
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2025
2024
Balances:
£
£
Accelerated capital allowances
78,954
84,596
2025
Movements in the year:
£
Liability at 1 January 2025
84,596
Credit to profit or loss
(5,642)
Liability at 31 December 2025
78,954
P D PRODUCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
10
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1
100
100
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
102,465
105,185
12
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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