United Food-Brands Ltd,Ltd - Accounts

United Food-Brands Ltd,Ltd - Accounts

UNITED FOOD BRANDS LTD - Company Information

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2016-01-01 04649369 2016-12-31 04649369 2016-01-01 2016-12-31 04649369 uk-bus:RegisteredOffice 2016-01-01 2016-12-31 04649369 uk-bus:Director1 2016-01-01 2016-12-31 04649369 uk-bus:Director1 2016-12-31 04649369 uk-bus:Director2 2016-01-01 2016-12-31 04649369 uk-bus:Director2 2016-12-31 04649369 uk-bus:Director3 2016-01-01 2016-12-31 04649369 uk-bus:Director3 2016-12-31 04649369 2015-12-31 04649369 2015-01-01 2015-12-31 04649369 uk-core:WithinOneYear 2015-12-31 04649369 uk-core:WithinOneYear 2016-12-31 04649369 uk-core:AfterOneYear 2015-12-31 04649369 uk-core:AfterOneYear 2016-12-31 04649369 uk-core:ShareCapital 2016-12-31 04649369 uk-core:ShareCapital 2015-12-31 04649369 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 04649369 uk-core:RetainedEarningsAccumulatedLosses 2015-12-31 04649369 uk-core:ComputerEquipment 2016-01-01 2016-12-31 04649369 uk-core:FurnitureFittings 2016-01-01 2016-12-31 04649369 uk-core:WithinOneYear 2016-12-31 04649369 uk-core:WithinOneYear 2015-12-31 04649369 uk-core:AfterOneYear uk-core:Secured 2016-12-31 04649369 uk-core:AfterOneYear uk-core:Secured 2015-12-31 04649369 3 uk-bus:Director1 2016-01-01 2016-12-31 04649369 3 uk-bus:Director1 2016-12-31 04649369 3 uk-bus:Director1 2015-12-31 04649369 4 uk-bus:Director2 2016-01-01 2016-12-31 04649369 4 uk-bus:Director2 2016-12-31 04649369 4 uk-bus:Director2 2015-12-31 04649369 uk-core:BetweenTwoFiveYears 2015-12-31 04649369 uk-core:BetweenTwoFiveYears 2016-12-31 iso4217:GBP 04649369 uk-bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 04649369 uk-bus:FRS102 2016-01-01 2016-12-31 04649369 uk-bus:FullAccounts 2016-01-01 2016-12-31 04649369 uk-bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31
United Food-Brands Ltd
Registered Number:04649369
For the year ended 31 December 2016
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 December 2016
United Food-Brands Ltd
Contents Page
Company Information
1
2
Directors' Report
3
Chartered Accountants' Report
4
Income Statement
5
Statement of Financial Position
6 to 8
Notes to the Financial Statements
3
For the year ended 31 December 2016
United Food-Brands Ltd
Company Information
Mr Christopher Kimberley Reeves
Directors
Mr Richard Albert Peter Reeves
Ms Xue Yang
Mr Christopher Kimberley Reeves
Company Secretary
04649369
Registered Number
22 York Crescent
Registered Office
Aldershot
Hants
GU11 3JN
Numerica, Chartered Accountants
Accountants
& Chartered Tax Advisers
St Marys Chambers
59 Quarry Street
Guildford, Surrey
GU1 3UA
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4
For the year ended 31 December 2016
United Food-Brands Ltd
Directors' Report
The directors present their report and financial statements for the year ended 31 December 2016.
Principal activities
The principal activity of the company continued to be the design, manufacture and sale of food packaging to the retail industry.
Directors
The directors who served the company throughout the year were as follows:
Mr Christopher Kimberley Reeves
Mr Richard Albert Peter Reeves
Ms Xue Yang
Mr Christopher Kimberley Reeves
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
03 April 2017
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5
For the year ended 31 December 2016
United Food-Brands Ltd
Chartered Accountants' Report
Chartered Accountants' report to the Directors on the preparation of the unaudited statutory accounts of
United Food-Brands Ltd for the year ended 31 December 2016
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts
of United Food-Brands Ltd for the year ended 31 December 2016 which comprise the Income Statement, the
Statement of Financial Position and the related notes from the company's accounting records and from information
and explanations you have given us.
As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its
ethical and other professional requirements which are detailed at
icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of United Food-Brands Ltd, as a body, in accordance with the
terms of our engagement letter dated 8 February 2017. Our work has been undertaken solely to prepare for your
approval the accounts of United Food-Brands Ltd and state those matters that we have agreed to state to the Board of
Directors of United Food-Brands Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16
AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than United
Food-Brands Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that United Food-Brands Ltd has kept adequate accounting records to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit of United Food-Brands Ltd.
You consider that United Food-Brands Ltd 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 accounts of United Food-Brands Ltd. 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 accounts.
Numerica, Chartered Accountants
& Chartered Tax Advisers
St Marys Chambers
59 Quarry Street
Guildford, Surrey
GU1 3UA
Date:
04 April 2017
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6
For the year ended 31 December 2016
United Food-Brands Ltd
Income Statement
2015
£
2016
£
Turnover
2,154,313
2,103,140
(1,763,125)
Cost of sales
(1,814,492)
340,015
Gross profit
339,821
Distribution costs
(84,766)
(109,221)
Administrative expenses
(193,711)
(145,517)
(278,477)
(254,738)
Operating profit
61,344
85,277
Other interest receivable and similar income
3
7
Interest payable and similar charges
(8,891)
(1,159)
52,456
84,125
Profit before taxation
(10,831)
(16,977)
Taxation
41,625
Profit for the financial year
67,148
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7
As at 31 December 2016
United Food-Brands Ltd
Statement of Financial Position
Registered Number :
04649369
£
£
2015
2016
Notes
Fixed assets
Property, plant and equipment
907
2,606
2
907
2,606
Current assets
Inventories
39,912
44,834
Trade and other receivables
240,927
209,620
3
210,987
Cash and cash equivalents
381,926
636,380
491,826
Trade and other payables: amounts falling due within one
year
(370,635)
(477,594)
4
121,191
158,786
Net current assets
Total assets less current liabilities
159,693
123,797
Trade and other payables: amounts falling due after more
than one year
(22,219)
(16,490)
5
143,203
Net assets
101,578
Capital and reserves
Called up share capital
10,000
10,000
Retained earnings
133,203
91,578
143,203
101,578
Shareholders' funds
For the year ended 31 December 2016 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 of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr Richard Albert Peter Reeves
These financial statements were approved and authorised for issue by the Board on 03 April 2017 and were signed by:
The notes form part of these financial statements
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For the year ended 31 December 2016
United Food-Brands Ltd
Notes to the Financial Statements
Statutory Information
United Food-Brands Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04649369.
Registered address:
22 York Crescent
Aldershot
Hants
GU11 3JN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Straight line
Computer Equipment
20% Straight line
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
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For the year ended 31 December 2016
United Food-Brands Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Computer
Equipment
£
Cost or
valuation
At 01 January 2016
10,496
500
Additions
At 31 December 2016
10,996
Provision for depreciation and impairment
At 01 January 2016
7,890
Charge for year
2,199
At 31 December 2016
10,089
At 31 December 2016
Net book value
907
At 31 December 2015
2,606
3. Trade and other receivables
2015
2016
£
£
Trade debtors
186,593
215,483
Other debtors
23,027
25,444
240,927
209,620
4. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Bank loans and overdraft
5,729
5,290
Trade creditors
280,914
302,289
Taxation and social security
10,831
25,676
Other creditors
180,120
37,380
477,594
370,635
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10
For the year ended 31 December 2016
United Food-Brands Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2015
2016
£
£
Bank loans and overdraft
16,490
22,219
Other creditors
-
-
16,490
22,219
6. Related party transactions
At the end of the year, Richard Reeves was owed £143,620. The loan has interest charged at 2.39% per annum and
is repayable on demand.
At the end of the year, Sue Reeves (associate of Christopher Reeves) was owed £33,000. This is being repaid as
follows: £20,000 February 2017 £13,000 June 2018. Interest is being charged at 5% per annum.
7. Directors advances and guarantees
Repaid
At 01/01/2016
At 31/12/2016
£
£
£
Mr Christopher Kimberley Reeves
Interest free and repayable on demand
13,708
13,708
-
13,708
13,708
-
Mr Richard Albert Peter Reeves
Interest free and repayable on demand
-
3,259
3,259
-
3,259
3,259
8. Guarantees and other financial commitments
Lease commitments
At 31 December 2016 the company had annual commitments under non-cancellable operating leases as set out
below:
2015
£
2016
£
Operating leases which expire:
8,000
8,000
Within 2 to 5 years
8,000
8,000
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