Company No: 10187419 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	4	48,132		57,841
		48,132		57,841
Current assets
Stocks		12,800		6,850
Debtors	5	3,638		3,226
Cash at bank and in hand		50		0
		16,488		10,076
Creditors: amounts falling due within one year	6	( 161,983)		( 117,433)
Net current liabilities		(145,495)		(107,357)
Total assets less current liabilities		(97,363)		(49,516)
Creditors: amounts falling due after more than one year	7	( 184,079)		( 191,367)
Net liabilities		( 281,442)		( 240,883)
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 281,542 )		( 240,983 )
Total shareholders' deficit		( 281,442)		( 240,883)

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Strawberry Thief Limited (registered number: 10187419) were approved and authorised for issue by the Director on 28 February 2024. They were signed on its behalf by:

M Harris Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Strawberry Thief Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 26 Broad Street, Bristol, BS1 2HG, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis which the Director considers to be appropriate for the following reasons.

The Director has taken into account the current UK economic uncertainty and inflationary environment and concluded that the Company will have sufficient funds to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements, including in a plausible downside recession scenario.

The Company is reliant on the support of its creditors. Included within non-current liabilities is an amount of £131,200 owed to a related party. This amount is repayable on demand. The director has given their assurance that this amount will not be collected in the next 12 months.

The director is confident that the Company will have sufficient working capital for the foreseeable future, being not less than 12 months from the approval of these financial statements. Accordingly, the director consider it appropriate to prepare these financial statements on a going concern basis.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	5 years straight line
Vehicles	5 years straight line
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Grant Income

Grants are recognised based on the accrual model and the income is recognised in the period to which it relates.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	10		11

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 June 2022	60,000		60,000
At 31 May 2023	60,000		60,000
Accumulated amortisation
At 01 June 2022	60,000		60,000
At 31 May 2023	60,000		60,000
Net book value
At 31 May 2023	0		0
At 31 May 2022	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 June 2022	19,285		57,383		38,662		8,055		123,385
Additions	0		2,360		0		1,276		3,636
At 31 May 2023	19,285		59,743		38,662		9,331		127,021
Accumulated depreciation
At 01 June 2022	4,139		53,706		1,289		6,410		65,544
Charge for the financial year	3,857		1,145		7,732		611		13,345
At 31 May 2023	7,996		54,851		9,021		7,021		78,889
Net book value
At 31 May 2023	11,289		4,892		29,641		2,310		48,132
At 31 May 2022	15,146		3,677		37,373		1,645		57,841
Leased assets included above:
Net book value
At 31 May 2023	0		0		29,641		0		29,641
At 31 May 2022	0		0		37,373		0		37,373

5. Debtors

	2023		2022
	£		£
Other debtors	3,638		3,226

6. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans and overdrafts	15,383		14,471
Trade creditors	48,350		51,448
Amounts owed to director	18,123		4,847
Accruals	3,580		5,040
Other taxation and social security	68,106		26,604
Obligations under finance leases and hire purchase contracts	6,881		6,881
Other creditors	1,560		8,142
	161,983		117,433

7. Creditors: amounts falling due after more than one year

	2023		2022
	£		£
Bank loans (secured)	32,798		33,205
Obligations under finance leases and hire purchase contracts (secured)	20,081		26,962
Other creditors	131,200		131,200
	184,079		191,367

Bank loans with a carrying value of £42,495 (2022 - £42,892) are guaranteed by Government under the Bounce Back Loan Scheme.

Hire purchase liabilities with a carrying value of £26,962 (2022 - £33,843 ) are secured on the assets to which they relate.

8. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

The total future minimum lease payments under non-cancellable operating leases not included in the balance sheet is £4,000 (2022 - £24,000)

10. Related party transactions

Transactions with the entity's director

At the year end the Company owed the director £18,123 (2022 - £4,847). The loan is interest free and repayable on demand.