A.B. PRODUCE PLC

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +30%

  £31,464,644 → £40,918,111

• Cash

  +6,415%

  £12,077 → £786,811

• Net assets

  +64.1%

  £852,687 → £1,399,195

• Employees

  0%

  131 → 131

• Operating profit

  +483.7%

  -£955,285 → £3,665,498

• Profit before tax

  +181.9%

  -£1,020,340 → £836,058

• Wages

  +0.7%

  £4,352,293 → £4,382,922

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. A.B. PRODUCE PLC 1988-05-13 → present
2. BIDCHARGE LIMITED 1988-04-06 → 1988-05-13

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ballards LLP

Audit opinion

Qualified

Going concern

Affirmed

“The directors remain of the firm opinion that, being in the key sector of UK food provision and having in recent years weathered the various storms outlined above, the business is in excellent shape to continue developing its product offer and deliver significant organic growth on the back of targeted investment plans.”

Significant events

• “In June 2023, a claim by a local landowner was settled in full without cost to the company but on the agreement that the company removes a quantity of soil from the relevant land adjacent to its Measham site by 31 July 2024.”
• “The company had retained a reduced overdraft facility of £500,000 which had been extended to February 2026. Subsequent to 31 May 2025, the sustained improvement in the company's performance has meant that the directors are in the process of surrendering this unutlised overdraft facility, moving to fixed term debt to support any future investment plans.”
• “Following the implementation of a revised and retrospective charging policy for water usage, the company has made representations to our water services provider regarding potential overcharges across several years amounting to £250,000. In January 2024, the company finally received confirmation that the charges were inappropriate, and credits have been processed to effect reimbursement. However, the corrections do not cover the full period of overcharging and only amount of c15% of the sums involved and we await further feedback on this from the service provider and Severn Trent. No amounts relative to these recoveries have been accrued in the accounts pending receipt of funds and/or the satisfactory resolution of this matter. It is the directors view that this potential refund constitutes a contingent asset, and as such the amount of the refund estimated to be £250,000 has not been recognised in these financial statements. Credits of £60,000 were received in January 2024.”
• “As reported previously, an estranged shareholder commenced Petitions under s994 of the Companies Act 2006 against his fellow shareholders in December 2018 involving three legal entities, which proceedings were defended throughout.”
• “At a hearing in the High Court in September 2023, HHJ Rawlings determined that there had been instances where the remaining Respondent had obtained benefit from the company which was prejudicial to the Petitioner and other shareholders. Following a hearing in January 2024 an Order was made which specified, amongst other things, the sale of shares between the existing shareholders of holdings in A.B. Produce Trading Limited, the parent company of A.B. Produce PLC. The Order prescribed that the share transfer would take place on 8 March 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.