R&D Foods Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05882974 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

R&D Foods Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D H Binns

Mrs J Binns

R C Furse

Mrs L P Furse

REGISTERED OFFICE:

C7-C8 Spectrum Business Centre

Anthonys Way

Rochester

Kent

ME2 4NP

REGISTERED NUMBER:

05882974 (England and Wales)

ACCOUNTANT:

Aspirations Accountancy Ltd

C7-C8

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

FIXED ASSETS

Tangible assets

4

369

166

CURRENT ASSETS

Stocks

13,430

9,664

Debtors

5

238,115

203,602

Cash at bank

15,318

2,376

266,863

215,642

CREDITORS

Amounts falling due within one year

6

146,141

123,821

NET CURRENT ASSETS

120,722

91,821

TOTAL ASSETS LESS CURRENT LIABILITIES

121,091

91,987

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

121,081

91,977

SHAREHOLDERS' FUNDS

121,091

91,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 November 2019 and were signed on its behalf by:

D H Binns - Director

1.	STATUTORY INFORMATION

R&D Foods Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received and receivable, excluding discounts,

rebates, value added tax and other taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2018

325

3,048

3,373

Additions

492

-

492

At 30 June 2019

817

3,048

3,865

DEPRECIATION

At 1 July 2018

325

2,882

3,207

Charge for year

123

166

289

At 30 June 2019

448

3,048

3,496

NET BOOK VALUE

At 30 June 2019

369

-

369

At 30 June 2018

-

166

166

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

200,154

160,512

Amounts owed by group undertakings

708

-

Other debtors

37,253

43,090

238,115

203,602

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

131,926

110,160

Amounts owed to group undertakings

708

619

Taxation and social security

8,404

8,285

Other creditors

5,103

4,757

146,141

123,821

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date there is a director's loan account balance of £179 (2018: £578) which is shown in

other creditors. The loan is not accruing any interest charges.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is D H Binns.

The ultimate controlling party is D H Binns.