Registered number
08605015
Hey Pesto Ltd
Filleted Accounts
31 July 2023
Hey Pesto Ltd
Registered number: 08605015
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 2,000
Tangible assets 4 2,625 24,694
2,625 26,694
Current assets
Stocks 2,500 2,490
Debtors 5 43,939 34,828
Cash at bank and in hand 129,257 192,111
175,696 229,429
Creditors: amounts falling due within one year 6 (63,808) (62,493)
Net current assets 111,888 166,936
Total assets less current liabilities 114,513 193,630
Creditors: amounts falling due after more than one year 7 (32,956) (45,254)
Net assets 81,557 148,376
Capital and reserves
Called up share capital 100 100
Profit and loss account 81,457 148,276
Shareholder's funds 81,557 148,376
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs C L H Gardner Director
Approved by the board on 30 September 2023
Hey Pesto Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 4 years (previously 25% reducing balance)
Plant and machinery over 4 years (previously 25% reducing balance)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 20,000
At 31 July 2023 20,000
Amortisation
At 1 August 2022 18,000
Provided during the year 2,000
At 31 July 2023 20,000
Net book value
At 31 July 2023 -
At 31 July 2022 2,000
4 Tangible fixed assets
Office equipment Plant and machinery Total
£ £ £
Cost
At 1 August 2022 13,020 56,074 69,094
Additions 3,502 - 3,502
At 31 July 2023 16,522 56,074 72,596
Depreciation
At 1 August 2022 10,093 34,307 44,400
Charge for the year 3,804 21,767 25,571
At 31 July 2023 13,897 56,074 69,971
Net book value
At 31 July 2023 2,625 - 2,625
At 31 July 2022 2,927 21,767 24,694
5 Debtors 2023 2022
£ £
Trade debtors 43,939 29,928
Other debtors - 4,900
43,939 34,828
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,583 3,265
Taxation and social security costs 56,225 53,572
Other creditors 2,000 5,656
63,808 62,493
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,956 41,973
Obligations under finance lease and hire purchase contracts - 3,281
32,956 45,254
8 Controlling party
The company is controlled by Mrs C L H Gardner.
9 Other information
Hey Pesto Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Parton Court Cottage
Parton Road
Churchdown
Glos
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