Glebe Farm Beverages Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11813059 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

GLEBE FARM BEVERAGES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

P J Rayner

Miss R E Rayner

REGISTERED OFFICE:

Yew Tree House

The Shrubbery

Church Street

St Neots

Cambs

PE19 2BU

REGISTERED NUMBER:

11813059 (England and Wales)

AUDITORS:

Bradshaw Johnson

Chartered Accountants

Statutory Auditor

Croft Chambers

11 Bancroft

Hitchin

Hertfordshire

SG5 1JQ

FIXED ASSETS

Tangible assets

4

761,310

15,097

CURRENT ASSETS

Stocks

136,646

20,542

Debtors

5

42,474

9,674

Cash at bank

10,680

14,931

189,800

45,147

CREDITORS

Amounts falling due within one year

6

1,984,801

295,531

NET CURRENT LIABILITIES

(1,795,001

)

(250,384

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,033,691

)

(235,287

)

CAPITAL AND RESERVES

Called up share capital

85

85

Retained earnings

(1,033,776

)

(235,372

)

(1,033,691

)

(235,287

)

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:

P J Rayner - Director

1.	STATUTORY INFORMATION

Glebe Farm Beverages Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 provided at the following annual rates in order to write off each asset over its estimated useful life.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2021

20,800

Additions

1,000,000

At 31 March 2022

1,020,800

DEPRECIATION

At 1 April 2021

5,703

Charge for year

253,787

At 31 March 2022

259,490

NET BOOK VALUE

At 31 March 2022

761,310

At 31 March 2021

15,097

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other debtors

42,474

9,674

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

1,979,741

294,501

Other creditors

5,060

1,030

1,984,801

295,531

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew D Pearce (Senior Statutory Auditor)

for and on behalf of Bradshaw Johnson

8.	RELATED PARTY DISCLOSURES

Glebe Farm Foods Limited is the majority shareholder of the company.

Glebe Farm Foods Limited is owed £1,861,363 (2021: £270,924) by Glebe Farm Beverages Ltd.

KIngs Ripton Farms Limited, a company related by common ownership, owes Glebe Farm Beverages Ltd £nil (2021: £2,500).