Village Maid Cheese Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03846528 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Village Maid Cheese Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

Mr A Wigmore

Mrs A Wigmore

Mr J S Wigmore

Ms K Sheekey

SECRETARY:

Mrs A Wigmore

REGISTERED OFFICE:

The Cottage

Basingstoke Road, Riseley

Reading

Berkshire

RG7 1QD

REGISTERED NUMBER:

03846528 (England and Wales)

ACCOUNTANTS:

Elsburys Accountants

Suite 2

1 Kings Road

Crowthorne

Berkshire

RG45 7BF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

161,585

172,654

161,585

172,654

CURRENT ASSETS

Stocks

177,596

101,060

Debtors

6

80,070

61,593

Cash at bank

112,173

145,209

369,839

307,862

CREDITORS

Amounts falling due within one year

7

127,821

146,136

NET CURRENT ASSETS

242,018

161,726

TOTAL ASSETS LESS CURRENT LIABILITIES

403,603

334,380

PROVISIONS FOR LIABILITIES

(11,293

)

(12,299

)

ACCRUALS AND DEFERRED INCOME

(23,383

)

(25,509

)

NET ASSETS

368,927

296,572

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

368,827

296,472

SHAREHOLDERS' FUNDS

368,927

296,572

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 29 December 2022 and were signed on its behalf by:

Mr J S Wigmore - Director

1.	STATUTORY INFORMATION

Village Maid Cheese 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.

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.

Freehold property

-

10% on cost and not provided

Plant and machinery

-

15% on reducing balance

Computer equipment

-

33% 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

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 14 (2021 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

275,000

AMORTISATION

At 1 April 2021

and 31 March 2022

275,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2021

207,115

58,221

3,500

11,008

279,844

Additions

3,051

1,040

-

2,447

6,538

At 31 March 2022

210,166

59,261

3,500

13,455

286,382

DEPRECIATION

At 1 April 2021

62,338

34,143

2,100

8,609

107,190

Charge for year

11,541

3,767

700

1,599

17,607

At 31 March 2022

73,879

37,910

2,800

10,208

124,797

NET BOOK VALUE

At 31 March 2022

136,287

21,351

700

3,247

161,585

At 31 March 2021

144,777

24,078

1,400

2,399

172,654

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

69,323

51,692

Other debtors

10,747

9,901

80,070

61,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

338

-

Trade creditors

25,350

38,078

Taxation and social security

47,408

42,781

Other creditors

54,725

65,277

127,821

146,136

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.22

31.3.21

£

£

Within one year

11,194

12,212

Between one and five years

-

10,340

11,194

22,552

Lease commitments remaining at the year end amounted to £22,552 (2021 £22,551.88)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Village Maid Cheese Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Village Maid Cheese Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Village Maid Cheese Limited and state those matters that we have agreed to state to the Board of Directors of Village Maid Cheese Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Village Maid Cheese 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 Village Maid Cheese Limited. You consider that Village Maid Cheese Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Village Maid Cheese Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Elsburys Accountants

Suite 2

1 Kings Road

Crowthorne

Berkshire

RG45 7BF

29 December 2022