Lucketts Dairy Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08914148 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

LUCKETTS DAIRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W G Luckett

Mrs Y Luckett

REGISTERED OFFICE:

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

REGISTERED NUMBER:

08914148 (England and Wales)

ACCOUNTANTS:

Armstrongs

Chartered Accountants and Tax Advisers

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

40,845

34,187

40,845

34,187

CURRENT ASSETS

Stocks

6

4,128

3,931

Debtors

7

42,076

53,860

Cash at bank and in hand

76,911

99,367

123,115

157,158

CREDITORS

Amounts falling due within one year

8

102,284

108,253

NET CURRENT ASSETS

20,831

48,905

TOTAL ASSETS LESS CURRENT LIABILITIES

61,676

83,092

CREDITORS

Amounts falling due after more than one year

9

-

(40,000

)

PROVISIONS FOR LIABILITIES

11

(7,761

)

(6,496

)

NET ASSETS

53,915

36,596

CAPITAL AND RESERVES

Called up share capital

12

102

102

Retained earnings

13

53,813

36,494

SHAREHOLDERS' FUNDS

53,915

36,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 and authorised for issue on 12 May 2022 and were signed on its behalf by:

W G Luckett - Director

1.	STATUTORY INFORMATION

Lucketts Dairy 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 introduced in 2015, has now been fully amortised.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 10 (2021 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

20,000

AMORTISATION

At 1 April 2021

and 31 March 2022

20,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

12,100

71,460

5,399

88,959

Additions

-

27,300

-

27,300

Disposals

-

(20,715

)

-

(20,715

)

At 31 March 2022

12,100

78,045

5,399

95,544

DEPRECIATION

At 1 April 2021

10,485

41,237

3,050

54,772

Charge for year

404

12,979

1,652

15,035

Eliminated on disposal

-

(15,108

)

-

(15,108

)

At 31 March 2022

10,889

39,108

4,702

54,699

NET BOOK VALUE

At 31 March 2022

1,211

38,937

697

40,845

At 31 March 2021

1,615

30,223

2,349

34,187

6.

STOCKS

2022

2021

£

£

Stocks

4,128

3,931

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

32,519

37,967

Other debtors

6,420

5,420

Directors' current accounts

771

771

VAT

2,366

9,702

42,076

53,860

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

41,573

34,789

Corporation tax

1,461

10,450

Social security and other taxes

3,327

3,761

Nest pension

904

990

Wages Control Account

3,576

3,462

Directors' current accounts

49,230

52,425

Accrued expenses

2,213

2,376

102,284

108,253

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans (see note 10)

-

40,000

10.

LOANS

An analysis of the maturity of loans is given below:

2022

2021

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

40,000

11.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

7,761

6,496

Deferred

tax

£

Balance at 1 April 2021

6,496

Accelerated capital allowances

1,265

Balance at 31 March 2022

7,761

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary A

£1

100

100

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

102

102

13.

RESERVES

Retained

earnings

£

At 1 April 2021

36,494

Profit for the year

17,319

At 31 March 2022

53,813

14.	ULTIMATE CONTROLLING PARTY

The controlling party is W G Luckett.