Company Registration No. 09334683 (England and Wales)
SHEPHERD'S BISCUITS LTD
Unaudited accounts
for the year ended 31 January 2022
SHEPHERD'S BISCUITS LTD
Unaudited accounts
Contents
SHEPHERD'S BISCUITS LTD
Company Information
for the year ended 31 January 2022
Directors
James Shepherd
Natasha Shepherd
James Wasdell
Company Number
09334683 (England and Wales)
Registered Office
UNITS 1-2 STATION YARD
STATION ROAD
LLANRWST
CONWY
LL26 0EH
WALES
Accountants
Vertis Accounting Limited
The Guesten,15 College Green
WORCESTER
WR1 2LH
SHEPHERD'S BISCUITS LTD
Statement of financial position
as at 31 January 2022
Tangible assets
39,371
25,754
Cash at bank and in hand
11,326
33,740
Creditors: amounts falling due within one year
(31,388)
(29,058)
Net current assets
32,773
34,671
Total assets less current liabilities
72,144
60,425
Creditors: amounts falling due after more than one year
(33,938)
(36,808)
Called up share capital
80
80
Share premium
80,000
80,000
Profit and loss account
(41,874)
(56,463)
Shareholders' funds
38,206
23,617
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2022 and were signed on its behalf by
James Shepherd
Director
Company Registration No. 09334683
SHEPHERD'S BISCUITS LTD
Notes to the Accounts
for the year ended 31 January 2022
SHEPHERD'S BISCUITS LTD is a private company, limited by shares, registered in England and Wales, registration number 09334683. The registered office is UNITS 1-2 STATION YARD, STATION ROAD, LLANRWST, CONWY, LL26 0EH, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the forseeable future.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
SHEPHERD'S BISCUITS LTD
Notes to the Accounts
for the year ended 31 January 2022
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2021
47,810
10,490
2,247
60,547
Additions
25,083
-
942
26,025
Disposals
(4,792)
-
(1,253)
(6,045)
At 31 January 2022
68,101
10,490
1,936
80,527
At 1 February 2021
31,219
2,623
951
34,793
Charge for the year
8,041
1,966
230
10,237
On disposals
(3,322)
-
(552)
(3,874)
At 31 January 2022
35,938
4,589
629
41,156
At 31 January 2022
32,163
5,901
1,307
39,371
At 31 January 2021
16,591
7,867
1,296
25,754
5
Debtors: amounts falling due within one year
2022
2021
Trade debtors
24,606
13,522
Accrued income and prepayments
-
3,875
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
20,128
21,010
Trade creditors
4,418
2,782
Taxes and social security
55
-
Other creditors
5,606
4,336
Loans from directors
315
315
SHEPHERD'S BISCUITS LTD
Notes to the Accounts
for the year ended 31 January 2022
7
Creditors: amounts falling due after more than one year
2022
2021
Loans from directors
-
1,500
8
Average number of employees
During the year the average number of employees was 7 (2021: 5).
