REGISTERED NUMBER: |
BURY SEAFOODS LIMITED |
UNAUDITED CESSATION FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
REGISTERED NUMBER: |
BURY SEAFOODS LIMITED |
UNAUDITED CESSATION FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
BURY SEAFOODS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
BANKERS: |
Bolton Central Branch |
46-48 Deansgate |
Bolton |
Lancashire |
BL1 1BH |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
STATEMENT OF FINANCIAL POSITION |
28 FEBRUARY 2023 |
2023 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
STATEMENT OF FINANCIAL POSITION - continued |
28 FEBRUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
Bury Seafoods Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number is 07451319 and the registered office address is The Exchange, 5 Bank Street, Bury, Lancashire, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. |
Estimating the useful economic life of an asset and the anticipated residual value are considered key judgement in calculating an appropriate depreciation charge. |
Revenue |
Revenue represents the aggregate of the fair value of the sales of goods, net of value added tax. |
Revenue from the sales of goods is recognised when the business has delivered products to customers, the customer has accepted the products and collection of the related receivables is anticipated. |
Goodwill |
Goodwill, being the amounts paid in connection with the acquisition of businesses in 2013 and 2015, are being amortised evenly over their useful lives of twenty years. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises. |
Inventories |
Inventories are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Cost represents the latest invoiced price of goods purchased. |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
Dividends |
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 December 2021 |
Disposals | ( |
) |
At 28 February 2023 |
AMORTISATION |
At 1 December 2021 |
Charge for period |
Eliminated on disposal | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 30 November 2021 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2021 |
Disposals | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 December 2021 |
Charge for period |
Eliminated on disposal | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 30 November 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
BURY SEAFOODS LIMITED (REGISTERED NUMBER: 07451319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2021 TO 28 FEBRUARY 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2021 |
£ | £ |
Within one year |
Between one and five years |