Abbey Foods (North West) Limited - Period Ending 2021-03-31
Abbey Foods (North West) Limited - Period Ending 2021-03-31
Registration number:
Abbey Foods (North West) Limited
for the Year Ended 31 March 2021
Abbey Foods (North West) Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Abbey Foods (North West) Limited
(Registration number: 07660860)
Balance Sheet as at 31 March 2021
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2021 |
2020 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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- |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Abbey Foods (North West) Limited
(Registration number: 07660860)
Balance Sheet as at 31 March 2021
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Director's Report has been taken.
Approved and authorised by the
.........................................
Director
Abbey Foods (North West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Going concern
The company meets its day to day working capital requirements through funds provided by a participating party - a company with a common director and shareholder.
The director considers that the facilities will continue to be made available within which the company will be able to operate.
On this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis was not appropriate.
Abbey Foods (North West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.
Tax
The tax expense for the period comprises tax.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Abbey Foods (North West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2020 |
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At 31 March 2021 |
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Amortisation |
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At 1 April 2020 |
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Amortisation charge |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Abbey Foods (North West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to participating interests |
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Other creditors |
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Creditors: amounts falling due after more than one year
2021 |
2020 |
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Non-current loans and borrowings |
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Loans and borrowings |
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Loans and borrowings |
2021 |
2020 |
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Current loans and borrowings |
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Bank overdrafts |
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Bank loan |
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- |
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2021 |
2020 |
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Non-current loans and borrowings |
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Bank loan |
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