McNeill's Fine Food and Rose Industries - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01706024 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

MCNEILL'S FINE FOOD AND ROSE INDUSTRIES

LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mrs S Webb

Ms J C Green

Registered office:

Sterling House

19/23 High Street

Kidlington

Oxfordshire

OX5 2DH

Registered number:

01706024 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Sterling House

19/23 High Street

Kidlington

Oxfordshire

OX5 2DH

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

15,830

18,623

15,830

18,623

Current assets

Stocks

15,650

15,650

Debtors

6

45,395

38,277

Cash at bank and in hand

808,606

766,346

869,651

820,273

Creditors

Amounts falling due within one year

7

44,344

38,876

Net current assets

825,307

781,397

Total assets less current liabilities

841,137

800,020

Provisions for liabilities

3,008

3,538

Net assets

838,129

796,482

Capital and reserves

Called up share capital

8

20,976

20,976

Share premium

24,224

24,224

Retained earnings

792,929

751,282

Shareholders' funds

838,129

796,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 14 December 2021 and were signed on its behalf by:

Mrs S Webb - Director

1.	Statutory information

McNeill's Fine Food and Rose Industries 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on cost and 15% 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.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern for the foreseeable future.

3.	Employees and directors

The average number of employees during the year was 7 (2020 - 7 ) .

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 April 2020

and 31 March 2021

58,488

Amortisation

At 1 April 2020

and 31 March 2021

58,488

Net book value

At 31 March 2021

-

At 31 March 2020

-

5.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2020

and 31 March 2021

20,081

113,227

133,308

Depreciation

At 1 April 2020

20,081

94,604

114,685

Charge for year

-

2,793

2,793

At 31 March 2021

20,081

97,397

117,478

Net book value

At 31 March 2021

-

15,830

15,830

At 31 March 2020

-

18,623

18,623

6.

Debtors: amounts falling due within one year

31/3/21

31/3/20

£

£

Trade debtors

39,002

30,267

Other debtors

6,393

8,010

45,395

38,277

7.

Creditors: amounts falling due within one year

31/3/21

31/3/20

£

£

Trade creditors

16,394

6,265

Taxation and social security

19,451

25,562

Other creditors

8,499

7,049

44,344

38,876

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/21

31/3/20

value:

£

£

20,976

Ordinary Shares

£1

20,976

20,976

9.	Ultimate controlling party

The company is controlled by Sue Webb.