Basil Wholefoods Limited Filleted accounts for Companies House (small and micro)

BASIL WHOLEFOODS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10856469

Basil Wholefoods Limited

Filleted Unaudited Financial Statements

31 July 2019

Basil Wholefoods Limited

Financial Statements

Year ended 31 July 2019

Contents	Page

Officers and professional advisers	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Basil Wholefoods Limited

Officers and Professional Advisers

The board of directors	C P R Chaning-Cotter
	Mrs J Ehren

Registered office	56 St Johns Road
	Tunbridge Wells
	UK
	TN4 9NY

Accountant	Baulf-James
	Chartered accountants
	17-19 Station Road West
	Oxted
	Surrey
	RH8 9EE

Basil Wholefoods Limited

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Basil Wholefoods Limited

Year ended 31 July 2019

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Basil Wholefoods Limited for the year ended 31 July 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Basil Wholefoods Limited, as a body, in accordance with the terms of my engagement letter dated 1 February 2018. My work has been undertaken solely to prepare for your approval the financial statements of Basil Wholefoods Limited and state those matters that I have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Basil Wholefoods Limited and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Basil Wholefoods Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Basil Wholefoods Limited. You consider that Basil Wholefoods Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Basil Wholefoods Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. Baulf-James Chartered accountants

17-19 Station Road West Oxted Surrey RH8 9EE

12 March 2020

Basil Wholefoods Limited

Statement of Financial Position

31 July 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	4	74,496	83,816

Current assets

Stocks		9,054	6,309
Debtors	5	135,052	116,428
Cash at bank and in hand		85,229	48,448
		---------	---------
		229,335	171,185

Creditors: amounts falling due within one year	6	281,877	211,573
		---------	---------
Net current liabilities		52,542	40,388
		--------	--------
Total assets less current liabilities		21,954	43,428

Creditors: amounts falling due after more than one year	7	–	37,501
		--------	--------
Net assets		21,954	5,927
		--------	--------

Capital and reserves

Called up share capital	1,002	1,002
Profit and loss account	20,952	4,925
	--------	-------
Shareholders funds	21,954	5,927
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Basil Wholefoods Limited

Statement of Financial Position (continued)

31 July 2019

These financial statements were approved by the board of directors and authorised for issue on 12 March 2020 , and are signed on behalf of the board by:

C P R Chaning-Cotter

Director

Company registration number: 10856469

Basil Wholefoods Limited

Notes to the Financial Statements

Year ended 31 July 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 St Johns Road, Tunbridge Wells, TN4 9NY, UK.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	10% straight line
Fixtures and fittings	-	15% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 53 (2018: 48 ).

4. Tangible assets

	Short leasehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 August 2018	42,416	53,696	96,112
Additions	1,624	363	1,987
	--------	--------	--------
At 31 July 2019	44,040	54,059	98,099
	--------	--------	--------
Depreciation
At 1 August 2018	4,242	8,054	12,296
Charge for the year	4,406	6,901	11,307
	--------	--------	--------
At 31 July 2019	8,648	14,955	23,603
	--------	--------	--------
Carrying amount
At 31 July 2019	35,392	39,104	74,496
	--------	--------	--------
At 31 July 2018	38,174	45,642	83,816
	--------	--------	--------

5. Debtors

	2019	2018
	£	£
Other debtors	135,052	116,428
	---------	---------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	23,954	5,890
Trade creditors	34,870	5,180
Social security and other taxes	22,836	42,173
Pension payable	–	571
Other creditors	200,217	157,759
	---------	---------
	281,877	211,573
	---------	---------

7. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	–	37,501
	----	--------

8. Related party transactions

The shares of Basil Wholefoods Limited are owned by a number of investors. No investor acting individually has the liability to control the activities of the company and consequently it is considered that there is no ultimate controlling party as defined by the Financial Reporting Standard No 8 'Related Party Disclosures'. During the year, the company paid a management charge to Basil Catering Services Limited, a connected company, for the value of £199,584 (2018: £220,000). At the balance sheet date, the company was due £114,280 (2018: £13,411) from Basil Catering Services Ltd.