Evan Rees (Butter) Limited 01/10/2022 iXBRL
Evan Rees (Butter) Limited 01/10/2022 iXBRL
Company registration number:
02371968
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
|
|
|
||
Secretary |
|
|
Company number |
|
|
Registered office |
|
|
|
||
|
||
|
||
Business address |
|
|
|
||
|
||
|
||
Accountants |
|
|
103-104 Walter Road | ||
Swansea | ||
SA1 5QF | ||
Bankers |
|
|
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Evan Rees (Butter) Limited
Year ended 1 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Evan Rees (Butter) Limited for the year ended 1 October 2022 which comprise the statement of financial position and 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/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Evan Rees (Butter) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Evan Rees (Butter) Limited and state those matters that we have agreed to state to the board of directors of Evan Rees (Butter) 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Evan Rees (Butter) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Evan Rees (Butter) 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 Evan Rees (Butter) Limited. You consider that Evan Rees (Butter) 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 Evan Rees (Butter) 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.
103-104 Walter Road
Swansea
SA1 5QF
21 April 2023
Statement of financial position
1 October 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - | - | ||||||
Tangible assets | 6 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Stocks |
|
|
|||||||
Debtors | 7 |
|
|
||||||
Cash at bank and in hand | - |
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 8 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current assets |
|
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Provisions for liabilities |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Capital redemption reserve |
|
|
|||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 April 2023
, and are signed on behalf of the board by:
Director
Director
Company registration number:
02371968
Notes to the financial statements
Year ended 1 October 2022
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 73A Newton Road, Mumbles, Swansea, SA3 4BL.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - |
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
|
|
|
Fittings fixtures and equipment | - |
|
|
|
Motor vehicles | - |
|
|
|
Impairment
Stocks
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2021:
2
).
5.
Intangible assets
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 2 October 2021 and 1 October 2022 |
|
|
|
_______ | _______ | ||
Amortisation | |||
At 2 October 2021 and 1 October 2022 |
|
|
|
_______ | _______ | ||
Carrying amount | |||
At 1 October 2022 | - | - | |
_______ | _______ | ||
At 1 October 2021 | - | - | |
_______ | _______ | ||
6.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 2 October 2021 |
|
|
|
|
|
Disposals |
(
|
- | - |
(
|
|
_______ | _______ | _______ | _______ | ||
At 1 October 2022 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Depreciation | |||||
At 2 October 2021 |
|
|
|
|
|
Charge for the year | - |
|
- |
|
|
Disposals |
(
|
- | - |
(
|
|
_______ | _______ | _______ | _______ | ||
At 1 October 2022 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Carrying amount | |||||
At 1 October 2022 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
At 1 October 2021 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
7.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
|
|
||
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Bank loans and overdrafts |
|
- | ||
Trade creditors |
|
|
||
Social security and other taxes |
|
|
||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
9.
Related party transactions
Included in creditors is a loan to the company from the directors of £1,686 (2021: £9), the loan is interest free and repayable upon demand.Included in debtors is a balance due from the connected company Danley Investments Ltd of £228,750 (2021: £248,750). Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.
10.
Parent Undertakings
The ultimate parent company is Evan Rees Holdings Ltd, a company registered in Great Britain.