Centaur Foods Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03314567 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2019

for

Centaur Foods Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M E Catterall

A H Walton

REGISTERED OFFICE:

Unit 2

Beaufort Trading Park

Pucklechurch Industrial Estate

Bristol

BS16 9QH

REGISTERED NUMBER:

03314567 (England and Wales)

FIXED ASSETS

Tangible assets

4

149,180

80,682

CURRENT ASSETS

Stocks

1,494,129

1,430,214

Debtors

5

1,196,488

1,155,161

Cash at bank

768,969

954,912

3,459,586

3,540,287

CREDITORS

Amounts falling due within one year

6

841,930

1,024,535

NET CURRENT ASSETS

2,617,656

2,515,752

TOTAL ASSETS LESS CURRENT LIABILITIES

2,766,836

2,596,434

PROVISIONS FOR LIABILITIES

22,618

10,867

NET ASSETS

2,744,218

2,585,567

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

2,744,119

2,585,468

SHAREHOLDERS' FUNDS

2,744,218

2,585,567

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 2 January 2020 and were signed on its behalf by:

M E Catterall - Director

1.	STATUTORY INFORMATION

Centaur 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 or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as

follows:

Leasehold improvements - 20% straight line

Plant & Machinery - 20% straight line

Fixtures & Fittings - 20% straight line

Motor Vehicles - 20% straight line

Office Equipment - 20% straight line

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

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 NIL (2018 - 23 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 September 2018

84,366

25,150

225,053

Additions

22,717

9,700

36,428

Disposals

(110

)

-

(39,242

)

At 31 August 2019

106,973

34,850

222,239

DEPRECIATION

At 1 September 2018

59,434

18,633

191,276

Charge for year

9,241

5,178

13,423

Eliminated on disposal

(110

)

-

(34,732

)

At 31 August 2019

68,565

23,811

169,967

NET BOOK VALUE

At 31 August 2019

38,408

11,039

52,272

At 31 August 2018

24,932

6,517

33,777

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2018

13,500

54,095

402,164

Additions

-

40,547

109,392

Disposals

-

(17,462

)

(56,814

)

At 31 August 2019

13,500

77,180

454,742

DEPRECIATION

At 1 September 2018

13,500

38,639

321,482

Charge for year

-

7,935

35,777

Eliminated on disposal

-

(16,855

)

(51,697

)

At 31 August 2019

13,500

29,719

305,562

NET BOOK VALUE

At 31 August 2019

-

47,461

149,180

At 31 August 2018

-

15,456

80,682

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,051,673

977,026

Other debtors

116,982

121,671

Other prepayments and accrued

17,791

33,243

VAT

10,042

23,221

1,196,488

1,155,161

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

2,090

Trade creditors

457,648

505,767

Tax

81,313

128,827

Social security and other taxes

-

14,900

Other creditors

1,305

250

Directors' current accounts

275,021

285,397

Accrued expenses

26,643

87,304

841,930

1,024,535

7.	RELATED PARTY DISCLOSURES

The company is controlled by the directors who together own 100% of the issued share capital.

Craic Foods Limited

Craic Foods Limited is an entity incorporated in Northern Ireland over which the directors have significant

influence.

During the year Centaur Foods Limited made purchases totalling £608 (2018 - £12,692) on behalf of Craic

Foods Limited and made sales to Craig Foods Limited totalling £7,334 (2018: £25,009).

At the year end Craic Foods Limited owes Centaur Foods Limited £80,341 (2018 - £79,713) in respect of

purchases made on their behalf and £30,000 (2018: £30,000) for a loan. These amounts are included within

other debtors due less than one year.