ACCOUNTS - Final Accounts

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Registered number: 03738540

FROBISHERS JUICES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

FROBISHERS JUICES LIMITED

COMPANY INFORMATION

Directors	S Carter
	A Clark
	G Holland
	D Pearce
	N Sprague
	I Taylor
	R Parsons


Registered number	03738540


Registered office	11 Mallard Road
	Sowton Industrial Estate
	Exeter
	Devon
	EX2 7LD


Independent auditors	Bishop Fleming Audit Limited
	Chartered Accountants & Statutory Auditors
	Brook House
	Winslade Park
	Manor Drive
	Clyst St Mary
	Exeter
	EX5 1GD


Bankers	NatWest Bank
	59 High Street
	Exeter
	Devon
	EX4 3DL

FROBISHERS JUICES LIMITED

REGISTERED NUMBER:03738540

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		125,815		190,986
			125,815		190,986
Current assets
Stocks	6	1,115,141		1,259,328
Debtors: amounts falling due within one year	7	2,368,744		2,055,958
Cash at bank and in hand	8	1,659,246		656,467
		5,143,131		3,971,753
Creditors: amounts falling due within one year	9	(2,050,891)		(1,639,196)
Net current assets			3,092,240		2,332,557
Total assets less current liabilities			3,218,055		2,523,543
Creditors: amounts falling due after more than one year	10		-		(12,666)
Provisions for liabilities
Deferred tax	12	(12,357)		(30,355)
			(12,357)		(30,355)
Net assets			3,205,698		2,480,522

Capital and reserves
Called up share capital	13	300,000	300,000
Profit and loss account		2,905,698	2,180,522
		3,205,698	2,480,522

The financial statement have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statement have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statement were approved and authorised for issue by the board and were signed on its behalf on 15 July 2025.

D Pearce

Director

The notes on pages 2 to 10 form part of these financial statements.

Page 1

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Frobishers Juices Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Mallard Road, Sowton Industrial Estate, Exeter, Devon, EX2 7LD.
The Company's principal activities and nature of its operations are the wholesale of fruit juices and soft drinks.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant and machinery	-	33%	straight-line
				Motor vehicles	-	33%	straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a batch cost/FIFO basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgments,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the
carrying amount of assets and liabilities are outlined below.
Useful economic lives of tangible assets
The annual depreciation charge is sensitive to any changes in the estimated useful life and residual values of tangible assets. The useful economic lives and residual value is assessed on an annual basis and are amended only when evidence shows a change in the estimated economic lives or residual life. Criteria used to assess the economic life and residual value includes technological advancement, economic utilisation, physical condition of the asset and future investments.
Stock valuation
The Company’s products are subject to best before dates. It is therefore necessary to consider on a periodic basis the recoverability of the cost of stocks and the associated provision. Management calculates provisions by considering the best before dates of each batch and applies assumptions around anticipated saleability of finished goods.

Page 5

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Directors	2	2
Selling and distribution	10	10
Admin	6	5

	18	17

5.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
COST OR VALUATION
At 1 April 2024	188,913	194,228	383,141
Additions	46,562	-	46,562
Disposals	(31,971)	-	(31,971)
At 31 March 2025	203,504	194,228	397,732
DEPRECIATION
At 1 April 2024	104,160	87,995	192,155
Charge for the year on owned assets	46,670	64,734	111,404
Disposals	(31,642)	-	(31,642)
At 31 March 2025	119,188	152,729	271,917
NET BOOK VALUE
At 31 March 2025	84,316	41,499	125,815
At 31 March 2024	84,753	106,233	190,986

Page 6

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Motor vehicles	19,285	80,641
	19,285	80,641

6.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	1,115,141	1,259,328
	1,115,141	1,259,328

Debtors

					2025	2024
					£	£


Trade debtors	2,199,692	1,777,275
Other debtors	-	12,536
Prepayments and accrued income	169,052	266,147
	2,368,744	2,055,958

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	1,659,246	656,467
	1,659,246	656,467

Page 7

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	852,760	898,470
Amounts owed to group undertakings	86,570	86,570
Corporation tax	298,490	7,673
Other taxation and social security	514,317	383,688
Obligations under finance lease and hire purchase contracts	12,666	27,191
Other creditors	21,504	6,498
Accruals and deferred income	264,584	229,106
	2,050,891	1,639,196

Amounts owed to group are interest free and repayable on demand.

10.	Creditors: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	-	12,666
	-	12,666

Within one year	12,666	27,191
Between 1-5 years	-	12,666
	12,666	39,857

Finance leases and hire purchase liabilities are secured against the assets to which they relate.

Page 8

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(30,355)	(9,414)
Charged to profit or loss	17,998	(20,941)
AT END OF YEAR	(12,357)	(30,355)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	(16,927)	(30,819)
Short term timing differences	4,570	464
	(12,357)	(30,355)

13.	Share capital
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

300,000 (2024: 300,000) Ordinary shares shares of £1.00 each	300,000	300,000

14.	Pension commitments

The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. During the year £85,194 (2024: £63,412) was charged to the Statement of Income and Retained Earnings in respect of the scheme. Contributions of £18,281 (2024: £2,853) remained outstanding at the Statement of Financial Position date.

15.	Controlling party

The immediate and ultimate parent company is Frobishers Juices (Holdings) Limited, a company incorporated in the United Kingdom and registered in England and Wales. Due to the size of the group the exemption from preparing consolidated group accounts has been taken.

16.	CHARGES AND GUARANTEES

On 08 March 2019, charges were registered in line with Chapter A1 Part 25 of the Companies Act 2006 with Companies House. Pursuant to the charge, National Westminster Bank PLC acting through its registered office at 250 Bishopsgate, London, England, EC2M 4AA placed a floating charge on all property of Frobishers Juices Limited.

Page 9

FROBISHERS JUICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 16 July 2025 by Fleur Lewis FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

Page 10