Bite (UK) Ltd - Period Ending 2017-04-30

Registration number: 09220486

Bite (UK) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

Walker & Sutcliffe
Chartered Accountants
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN

Bite (UK) Ltd

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6 to 9

Bite (UK) Ltd

Company Information

Director

Mr J P Bull

Company secretary

Mrs D Bull

Registered office

Eurostar House Hazel Grove, Cowlersley Lane Linthwaite Huddersfield West Yorkshire HD7 5TQ

Accountants

Walker & Sutcliffe Chartered Accountants 12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bite (UK) Ltd
for the Year Ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bite (UK) Ltd for the year ended 30 April 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Bite (UK) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bite (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of Bite (UK) 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 Bite (UK) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bite (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Bite (UK) Ltd. You consider that Bite (UK) 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 Bite (UK) 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.

......................................

Walker & Sutcliffe
Chartered Accountants
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN

13 October 2017

Page 2

Bite (UK) Ltd

Statement of Comprehensive Income for the Year Ended 30 April 2017

	Note	2017 £	2016 £
Loss for the year		(36,229)	(15,579)
Total comprehensive income for the year		(36,229)	(15,579)

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 3

Bite (UK) Ltd

(Registration number: 09220486)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	1,949	2,908
Current assets
Stocks	5	11,420	28,012
Debtors	6	14,198	8,332
Cash at bank and in hand		2,172	6,961
		27,790	43,305
Creditors: Amounts falling due within one year	7	(91,050)	(71,295)
Net current liabilities		(63,260)	(27,990)
Net liabilities		(61,311)	(25,082)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(61,411)	(25,182)
Total equity		(61,311)	(25,082)

For the financial year ending 30 April 2017 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 October 2017
 

.........................................

Mr J P Bull

Director

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 4

Bite (UK) Ltd

Statement of Changes in Equity for the Year Ended 30 April 2017

	Share capital £	Profit and loss account £	Total £
At 1 May 2016	100	(25,182)	(25,082)
Loss for the year	-	(36,229)	(36,229)
Total comprehensive income	-	(36,229)	(36,229)
At 30 April 2017	100	(61,411)	(61,311)

	Share capital £	Profit and loss account £	Total £
At 1 May 2015	100	(9,603)	(9,503)
Loss for the year	-	(15,579)	(15,579)
Total comprehensive income	-	(15,579)	(15,579)
At 30 April 2016	100	(25,182)	(25,082)

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 5

Bite (UK) Ltd

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Eurostar House
Hazel Grove, Cowlersley Lane
Linthwaite
Huddersfield
West Yorkshire
HD7 5TQ

These financial statements were authorised for issue by the director on 13 October 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 6

Bite (UK) Ltd

Notes to the Financial Statements for the Year Ended 30 April 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

Page 7

Bite (UK) Ltd

Notes to the Financial Statements for the Year Ended 30 April 2017

4	Tangible assets

	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 May 2016	4,341	4,341
At 30 April 2017	4,341	4,341
Depreciation
At 1 May 2016	1,433	1,433
Charge for the year	959	959
At 30 April 2017	2,392	2,392
Carrying amount
At 30 April 2017	1,949	1,949
At 30 April 2016	2,908	2,908

5

Stocks

	2017 £	2016 £
Other inventories	11,420	28,012

6

Debtors

	2017 £	2016 £
Trade debtors	12,500	5,578
Other debtors	1,698	2,754
Total current trade and other debtors	14,198	8,332

7

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		17,150	16,300
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	72,728	53,580
Taxation and social security		322	565
Other creditors		850	850
		91,050	71,295

Page 8

Bite (UK) Ltd

Notes to the Financial Statements for the Year Ended 30 April 2017

8	Related party transactions

Summary of transactions with other related parties

A company in which Mr J P Bull is also a director
 During the period, Bite (UK) Limited purchased goods from Eurostar Commodities Limited totalling £3,836 (2016: £52). Also, administration expenses totalling £19,147 (2016: £47,881) were paid for by Eurostar Commodities Limited. At the balance sheet date the amount due to Eurostar Commodities Limited was £72,684 (2016: £53,536)
 

9	Transition to FRS 102

There are no adjustments to disclose in relation to the transition to FRS102 in the current year.

Page 9