Basil Wholefoods Limited Filleted accounts for Companies House (small and micro)

BASIL WHOLEFOODS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10856469

Basil Wholefoods Limited

Filleted Unaudited Financial Statements

31 July 2023

Basil Wholefoods Limited

Financial Statements

Year ended 31 July 2023

Contents	Page

Officers and professional advisers	1

Report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	4

Basil Wholefoods Limited

Officers and Professional Advisers

Director	C P R Chaning-Cotter

Registered office	56 St Johns Road
	Tunbridge Wells
	UK
	TN4 9NY

Accountant	Baulf-James
	Chartered accountants
	17-19 Station Road West
	Oxted
	Surrey
	RH8 9EE

Basil Wholefoods Limited

Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Basil Wholefoods Limited

Year ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Basil Wholefoods Limited for the year ended 31 July 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Basil Wholefoods Limited in accordance with the terms of my engagement letter dated 1 February 2018. My work has been undertaken solely to prepare for your approval the financial statements of Basil Wholefoods Limited and state those matters that I have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Basil Wholefoods Limited and its director for my work or for this report.

It is your duty to ensure that Basil Wholefoods 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 loss of Basil Wholefoods Limited. You consider that Basil Wholefoods Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Basil Wholefoods Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. Baulf-James Chartered accountants

17-19 Station Road West Oxted Surrey RH8 9EE

25 April 2024

Basil Wholefoods Limited

Statement of Financial Position

31 July 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	4	50,120	56,918

Current assets

Debtors	5	55,792	42,513
Cash at bank and in hand		228,619	287,509
		---------	---------
		284,411	330,022

Creditors: amounts falling due within one year	6	238,454	245,171
		---------	---------
Net current assets		45,957	84,851
		--------	---------
Total assets less current liabilities		96,077	141,769

Creditors: amounts falling due after more than one year	7	21,700	34,100
		--------	---------
Net assets		74,377	107,669
		--------	---------

Capital and reserves

Called up share capital	1,002	1,002
Profit and loss account	73,375	106,667
	--------	---------
Shareholders funds	74,377	107,669
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 July 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 year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 25 April 2024 , and are signed on behalf of the board by:

C P R Chaning-Cotter
Director

Company registration number: 10856469

Basil Wholefoods Limited

Notes to the Financial Statements

Year ended 31 July 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 St Johns Road, Tunbridge Wells, TN4 9NY, UK.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	10% straight line
Fixtures and fittings	-	FF: 15% straight line. Computer Eqt: 10% straight line.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 53 (2022: 41 ).

4. Tangible assets

	Short leasehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 August 2022	44,040	78,168	122,208
Additions	–	7,764	7,764
	--------	--------	---------
At 31 July 2023	44,040	85,932	129,972
	--------	--------	---------
Depreciation
At 1 August 2022	22,554	42,736	65,290
Charge for the year	4,700	9,862	14,562
	--------	--------	---------
At 31 July 2023	27,254	52,598	79,852
	--------	--------	---------
Carrying amount
At 31 July 2023	16,786	33,334	50,120
	--------	--------	---------
At 31 July 2022	21,486	35,432	56,918
	--------	--------	---------

5. Debtors

	2023	2022
	£	£
Trade debtors	425	430
Other debtors	55,367	42,083
	--------	--------
	55,792	42,513
	--------	--------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	12,400	12,400
Trade creditors	55,217	23,620
Corporation tax	–	9,223
Social security and other taxes	26,468	30,204
Pension payable	1,003	522
Other creditors	143,366	169,202
	---------	---------
	238,454	245,171
	---------	---------

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

	2023	2022
	£	£
Bank loans and overdrafts	21,700	34,100
	--------	--------

8. Related party transactions

The shares of Basil Wholefoods Limited are owned by a number of investors. No investor acting individually has the liability to control the activities of the company and consequently it is considered that there is no ultimate controlling party as defined by the Financial Reporting Standard No 8 'Related Party Disclosures'. During the year, the company paid a management charge to Basil Catering Services Limited, a connected company, for the value of £276,497 (2022: £230,577). At the balance sheet date, the company was due (£34,019) (2022: (£24,142)) from Basil Catering Services Ltd.

9. Other operating income

Other operating income for the year was £Nil (2022: £23,165) and includes grants received from the Government in relation to the covid pandemic.