Registered number
06519516
EXOTICA SUPERFRUIT LIMITED
Filleted Accounts
31 December 2022
EXOTICA SUPERFRUIT LIMITED
Registered number: 06519516
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 52,618 60,662
Current assets
Stocks 36,162 25,448
Debtors 5 767,858 710,346
Cash at bank and in hand 144,944 64,771
948,964 800,565
Creditors: amounts falling due within one year 6 (452,345) (337,749)
Net current assets 496,619 462,816
Total assets less current liabilities 549,237 523,478
Creditors: amounts falling due after more than one year 7 (140,879) (167,478)
Net assets 408,358 356,000
Capital and reserves
Called up share capital 100 100
Profit and loss account 408,258 355,900
Shareholder's funds 408,358 356,000
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 Parminder Kaur Rainu
Director
Approved by the board on 21 October 2023
EXOTICA SUPERFRUIT LIMITED
Notes to the Accounts
for the year ended 31 December 2022
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:
Buildings improvements over the terms of the lease of 20 years
Plant and machinery 10% reducing balance method
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recog
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 11 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2022 20,000
At 31 December 2022 20,000
Amortisation
At 1 January 2022 20,000
At 31 December 2022 20,000
Net book value
At 31 December 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2022 90,326 126,623 216,949
Additions - 562 562
At 31 December 2022 90,326 127,185 217,511
Depreciation
At 1 January 2022 55,158 101,129 156,287
Charge for the year 6,000 2,606 8,606
At 31 December 2022 61,158 103,735 164,893
Net book value
At 31 December 2022 29,168 23,450 52,618
At 31 December 2021 35,168 25,494 60,662
5 Debtors 2022 2021
£ £
Trade debtors 752,288 689,152
Other debtors and prepayments 15,570 21,194
767,858 710,346
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 9,480 21,145
Trade creditors 289,365 243,671
Taxation and social security costs 39,365 37,810
Other creditors and accruals 114,135 35,123
452,345 337,749
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 26,059 35,778
Director's account - 7,000
Other creditors 114,820 124,700
140,879 167,478
8 Other information
EXOTICA SUPERFRUIT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Southgate Office Village
286b Chase Road
Soutgate
London
N14 6HF
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