| REGISTERED NUMBER: |
| NENE POTATOES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2025 |
| REGISTERED NUMBER: |
| NENE POTATOES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2025 |
| NENE POTATOES LIMITED (REGISTERED NUMBER: 04517085) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| NENE POTATOES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Enterprise Way |
| Pinchbeck |
| Spalding |
| Lincolnshire |
| PE11 3YR |
| NENE POTATOES LIMITED (REGISTERED NUMBER: 04517085) |
| STATEMENT OF FINANCIAL POSITION |
| 31 JULY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| NENE POTATOES LIMITED (REGISTERED NUMBER: 04517085) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2025 |
| 1. | STATUTORY INFORMATION |
| Nene Potatoes Limited is a |
| The company's place of business is Winters Lane, Sutton Crosses, Long Sutton, Spalding, Lincolnshire, PE12 9BE. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the charges levied upon members and the net invoiced sales of produce on behalf of non-members, excluding value added tax. Charges are recognised for the period to which they relate and sales of produce are recognised upon despatch from the supplier. |
| Tangible fixed assets |
| Fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. |
| Depreciation is provided on all tangible assets at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows:- |
| Tenancy improvements | 10%, 20% and 50% straight-line |
| Plant and machinery | 10%, 20%, 25% and 33% straight-line |
| Financial instruments |
| The company has chosen to adopt the FRS 102A in respect of financial instruments. |
| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the income statement. |
| 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. Accounts 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. |
| Operating lease agreements |
| 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. |
| Throughput |
| Throughput represents amounts received and receivable for produce supplied to customers during the year on behalf of members and non-members. |
| The throughput of the company during the year was 75,094 (2024: 71,236) tonnes valued at £19,516,863 (2024: £29,140,726). |
| NENE POTATOES LIMITED (REGISTERED NUMBER: 04517085) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Tenant's | Plant and |
| improvements | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 July 2025 |
| DEPRECIATION |
| At 1 August 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 July 2025 |
| NET BOOK VALUE |
| At 31 July 2025 |
| At 31 July 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| NENE POTATOES LIMITED (REGISTERED NUMBER: 04517085) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2025 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| 'A' ordinary shares | £10 | 290 | 290 |
| The 'A' shares carry voting rights and rights to a dividend if declared. The amount of the dividend will be proportionate to the amount of business that the shareholder has generated from the Company since payment of the last dividend. |
| 'A' shares shall only be transferred by approval of the board of directors. |
| 9. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 August 2024 | 675,703 |
| Profit for the year | - |
| Distributions | ( |
) | - | ( |
) |
| At 31 July 2025 | 551,895 |
| 10. | RELATED PARTY DISCLOSURES |
| The company has widespread ownership of shares, with no single party having overall control of the entity. |
| No director had a beneficial interest in any contract with the company during the year, except for transactions entered into under the ordinary course of business between the company and its members. |
| The following directors were also directors of businesses to which the company supplied services or purchased from: |
| Director | Name of Director's Business |
| J L Symington | L Symington (Farms) Limited |
| J Perowne | Jack Buck Farms Limited |
| Loveden Estates Limited |
| N E Harrold | E.F. Harrold Limited |
| C D Kisby | E.W. Kisby and Sons Limited |
| R M F Golland | P.N. Watts |
| The total services supplied to these businesses during the year amounted to £255,941 (2024 - £195,114). At the year end the company was owed a net amount of £192 (2024 - £Nil). All these transactions were carried out on normal commercial terms. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company has 26 shareholders. Consequently no individual or party has overall control of the company. |