Company registration number 10494872 (England and Wales)
SCULLY COOKS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
SCULLY COOKS LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
SCULLY COOKS LTD
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
200,633
257,941
Current assets
Stocks
14,101
12,201
Debtors
4
144,699
147,688
Cash at bank and in hand
76,196
178,836
234,996
338,725
Creditors: amounts falling due within one year
5
(234,893)
(116,255)
Net current assets
103
222,470
Total assets less current liabilities
200,736
480,411
Creditors: amounts falling due after more than one year
6
(516,630)
(762,423)
Net liabilities
(315,894)
(282,012)
Capital and reserves
Called up share capital
236
201
Share premium account
9,800
9,800
Profit and loss reserves
(325,930)
(292,013)
Total equity
(315,894)
(282,012)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SCULLY COOKS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2022 and are signed on its behalf by:
Mr S P Dickey
Director
Company Registration No. 10494872
SCULLY COOKS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
Share capital
Share premium account
Profit
and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2020
200
9,800
(433,727)
(423,727)
Year ended 31 March 2021:
Profit and total comprehensive income for the year
-
-
141,714
141,714
Issue of share capital
1
-
0
-
1
Balance at 31 March 2021
201
9,800
(292,013)
(282,012)
Year ended 31 March 2022:
Loss and total comprehensive income for the year
-
-
(33,917)
(33,917)
Issue of share capital
35
-
0
-
35
Balance at 31 March 2022
236
9,800
(325,930)
(315,894)
SCULLY COOKS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
1
Accounting policies
Company information

Scully Cooks Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% on cost
Plant and equipment
15% on cost
Fixtures and fittings
15% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

SCULLY COOKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

SCULLY COOKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
2
Employees

The average number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
17
16
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2021
258,875
233,697
492,572
Additions
4,798
15,523
20,321
At 31 March 2022
263,673
249,220
512,893
Depreciation and impairment
At 1 April 2021
128,447
106,184
234,631
Depreciation charged in the year
40,246
37,383
77,629
At 31 March 2022
168,693
143,567
312,260
Carrying amount
At 31 March 2022
94,980
105,653
200,633
At 31 March 2021
130,428
127,513
257,941
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
-
0
7,287
Corporation tax recoverable
33,615
68,117
Other debtors
57,084
18,284
90,699
93,688
2022
2021
SCULLY COOKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
4
Debtors
(Continued)
- 7 -
Amounts falling due after more than one year:
£
£
Other debtors
54,000
54,000
Total debtors
144,699
147,688
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
66,111
-
0
Trade creditors
35,700
17,295
Amounts owed to group undertakings and undertakings in which the company has a participating interest
24,272
24,272
Taxation and social security
30,781
7,384
Other creditors
78,029
67,304
234,893
116,255
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
-
0
250,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest
495,000
495,000
Other creditors
21,630
17,423
516,630
762,423
7
Operating lease commitments
Lessee

The company has financial commitments of £253,500 relating to non-cancellable operating leases at 31 March 2022.

2022-03-312021-04-01false30 August 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr R ScullyMr G A BridgesMr S P DickeyMiss B S BridgesMr S P Dickey104948722021-04-012022-03-31104948722022-03-31104948722021-03-3110494872core:LandBuildings2022-03-3110494872core:OtherPropertyPlantEquipment2022-03-3110494872core:LandBuildings2021-03-3110494872core:OtherPropertyPlantEquipment2021-03-3110494872core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3110494872core:CurrentFinancialInstrumentscore:WithinOneYear2021-03-3110494872core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3110494872core:Non-currentFinancialInstrumentscore:AfterOneYear2021-03-3110494872core:CurrentFinancialInstruments2022-03-3110494872core:CurrentFinancialInstruments2021-03-3110494872core:Non-currentFinancialInstruments2022-03-3110494872core:Non-currentFinancialInstruments2021-03-3110494872core:ShareCapital2022-03-3110494872core:ShareCapital2021-03-3110494872core:SharePremium2022-03-3110494872core:SharePremium2021-03-3110494872core:RetainedEarningsAccumulatedLosses2022-03-3110494872core:RetainedEarningsAccumulatedLosses2021-03-3110494872core:ShareCapital2020-03-3110494872core:SharePremium2020-03-3110494872core:RetainedEarningsAccumulatedLosses2020-03-31104948722020-03-3110494872bus:CompanySecretaryDirector12021-04-012022-03-3110494872core:RetainedEarningsAccumulatedLosses2020-04-012021-03-31104948722020-04-012021-03-3110494872core:RetainedEarningsAccumulatedLosses2021-04-012022-03-3110494872core:ShareCapital2020-04-012021-03-3110494872core:SharePremium2020-04-012021-03-3110494872core:ShareCapital2021-04-012022-03-3110494872core:SharePremium2021-04-012022-03-3110494872core:LeaseholdImprovements2021-04-012022-03-3110494872core:PlantMachinery2021-04-012022-03-3110494872core:FurnitureFittings2021-04-012022-03-3110494872core:LandBuildings2021-03-3110494872core:OtherPropertyPlantEquipment2021-03-31104948722021-03-3110494872core:LandBuildings2021-04-012022-03-3110494872core:OtherPropertyPlantEquipment2021-04-012022-03-3110494872core:WithinOneYear2022-03-3110494872core:WithinOneYear2021-03-3110494872core:AfterOneYear2022-03-3110494872core:AfterOneYear2021-03-3110494872bus:PrivateLimitedCompanyLtd2021-04-012022-03-3110494872bus:SmallCompaniesRegimeForAccounts2021-04-012022-03-3110494872bus:FRS1022021-04-012022-03-3110494872bus:AuditExemptWithAccountantsReport2021-04-012022-03-3110494872bus:Director12021-04-012022-03-3110494872bus:Director22021-04-012022-03-3110494872bus:Director32021-04-012022-03-3110494872bus:Director42021-04-012022-03-3110494872bus:CompanySecretary12021-04-012022-03-3110494872bus:FullAccounts2021-04-012022-03-31xbrli:purexbrli:sharesiso4217:GBP