Clarks Pies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04395811 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

CLARKS PIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Prested

D Clark

SECRETARY:

D Clark

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

04395811 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

21,000

28,000

Tangible assets

5

23,881

24,878

44,881

52,878

CURRENT ASSETS

Stocks

4,580

4,781

Debtors

6

4,439

3,876

Cash at bank and in hand

13,948

14,346

22,967

23,003

CREDITORS

Amounts falling due within one year

7

44,622

48,694

NET CURRENT LIABILITIES

(21,655

)

(25,691

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,226

27,187

CREDITORS

Amounts falling due after more than one year

8

(6,962

)

(11,030

)

PROVISIONS FOR LIABILITIES

11

(4,537

)

(4,727

)

NET ASSETS

11,727

11,430

CAPITAL AND RESERVES

Called up share capital

12

1,004

1,004

Retained earnings

13

10,723

10,426

SHAREHOLDERS' FUNDS

11,727

11,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 10 December 2019 and were signed on its behalf by:

K Prested - Director

1.	STATUTORY INFORMATION

Clarks Pies 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 or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful

lives. Those held under finance leases are depreciated over their estimated useful lives or the

lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

140,000

AMORTISATION

At 1 April 2018

112,000

Charge for year

7,000

At 31 March 2019

119,000

NET BOOK VALUE

At 31 March 2019

21,000

At 31 March 2018

28,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2018

68,780

31,866

100,646

Additions

6,964

-

6,964

At 31 March 2019

75,744

31,866

107,610

DEPRECIATION

At 1 April 2018

64,189

11,579

75,768

Charge for year

2,889

5,072

7,961

At 31 March 2019

67,078

16,651

83,729

NET BOOK VALUE

At 31 March 2019

8,666

15,215

23,881

At 31 March 2018

4,591

20,287

24,878

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Motor

vehicles

£

COST

At 1 April 2018

and 31 March 2019

19,692

DEPRECIATION

At 1 April 2018

4,923

Charge for year

3,692

At 31 March 2019

8,615

NET BOOK VALUE

At 31 March 2019

11,077

At 31 March 2018

14,769

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

518

1,349

Other debtors

3,921

2,527

4,439

3,876

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

-

3,891

Hire purchase contracts (see note 9)

4,039

4,474

Trade creditors

9,617

12,147

Taxation and social security

15,275

12,839

Other creditors

15,691

15,343

44,622

48,694

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts (see note 9)

6,962

11,030

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.19

31.3.18

£

£

Net obligations repayable:

Within one year

4,039

4,474

Between one and five years

6,962

11,030

11,001

15,504

Non-cancellable

operating leases

31.3.19

31.3.18

£

£

Within one year

5,051

-

Between one and five years

7,577

-

12,628

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank overdraft

-

3,891

Hire purchase contracts

11,001

15,504

11,001

19,395

HSBC Bank plc hold fixed and floating charges over the company's assets.

11.	PROVISIONS FOR LIABILITIES

31.3.19

31.3.18

£

£

Deferred tax

Accelerated capital allowances

4,537

4,727

Deferred

tax

£

Balance at 1 April 2018

4,727

Reversal of timing differences

(190

)

Balance at 31 March 2019

4,537

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

1,000

Ordinary A

£1

1,000

1,000

4

Ordinary B

£1

4

4

1,004

1,004

13.

RESERVES

Retained

earnings

£

At 1 April 2018

10,426

Profit for the year

49,797

Dividends

(49,500

)

At 31 March 2019

10,723

14.	RELATED PARTY TRANSACTIONS

The directors maintain an interest free loan account with the company. At the balance sheet

date, the company owed the directors £146 (2018: £192).

15.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be K Prested.