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REGISTERED NUMBER: 06739161 (England and Wales)















GAINSBOROUGH CHILLED FOODS LIMITED

Unaudited Financial Statements for the Year Ended 31 January 2023






GAINSBOROUGH CHILLED FOODS LIMITED (REGISTERED NUMBER: 06739161)






Contents of the Financial Statements
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


GAINSBOROUGH CHILLED FOODS LIMITED

Company Information
for the year ended 31 January 2023







Directors: Mr G Alldritt
Mr D Hoare



Registered office: 7 Spitfire Close
Coventry Business Park
Coventry
West Midlands
CV5 6UR



Registered number: 06739161 (England and Wales)



Accountants: Haines Watts South East LLP
5-6 Greenfield Crescent
Edgbaston
Birmingham
West Midlands
B15 3BE



Bankers: Barclays Bank PLC
25 High Street
Coventry
CV1 5QZ

GAINSBOROUGH CHILLED FOODS LIMITED (REGISTERED NUMBER: 06739161)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 8,000 12,000
Tangible assets 5 55,567 74,088
63,567 86,088

Current assets
Stocks 61,096 63,346
Debtors 6 335,086 254,620
Cash at bank 123,729 129,160
519,911 447,126
Creditors
Amounts falling due within one year 7 320,010 276,063
Net current assets 199,901 171,063
Total assets less current liabilities 263,468 257,151

Creditors
Amounts falling due after more than one
year

8

(46,667

)

(62,777

)

Provisions for liabilities (13,378 ) (16,627 )
Net assets 203,423 177,747

Capital and reserves
Called up share capital 131,000 131,000
Retained earnings 72,423 46,747
Shareholders' funds 203,423 177,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GAINSBOROUGH CHILLED FOODS LIMITED (REGISTERED NUMBER: 06739161)

Balance Sheet - continued
31 January 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





Mr G Alldritt - Director


GAINSBOROUGH CHILLED FOODS LIMITED (REGISTERED NUMBER: 06739161)

Notes to the Financial Statements
for the year ended 31 January 2023

1. Statutory information

Gainsborough Chilled Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill-Over 10 years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:

Leasehold Property -Over 10 years
Motor Vehicles-25% Reducing Balance
Equipment-25% Reducing Balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

GAINSBOROUGH CHILLED FOODS LIMITED (REGISTERED NUMBER: 06739161)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

2. Accounting policies - continued

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

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 profit or loss in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 13 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 February 2022
and 31 January 2023 279,562
Amortisation
At 1 February 2022 267,562
Charge for year 4,000
At 31 January 2023 271,562
Net book value
At 31 January 2023 8,000
At 31 January 2022 12,000

GAINSBOROUGH CHILLED FOODS LIMITED (REGISTERED NUMBER: 06739161)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

5. Tangible fixed assets
Long Motor
leasehold vehicles Equipment Totals
£    £    £    £   
Cost
At 1 February 2022
and 31 January 2023 13,942 206,622 173,055 393,619
Depreciation
At 1 February 2022 13,942 159,471 146,118 319,531
Charge for year - 11,788 6,733 18,521
At 31 January 2023 13,942 171,259 152,851 338,052
Net book value
At 31 January 2023 - 35,363 20,204 55,567
At 31 January 2022 - 47,151 26,937 74,088

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 309,689 233,837
Other debtors 25,397 20,783
335,086 254,620

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 20,000 22,374
Trade creditors 253,700 204,421
Taxation and social security 37,305 35,665
Other creditors 9,005 13,603
320,010 276,063

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 46,667 62,777

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,238 3,238
Between one and five years 5,936 9,174
9,174 12,412

10. Related party disclosures

The company was under the control of Mr G Alldritt and Mr D Hoare during the year.

The balances outstanding on the directors' loan accounts at the year end were nil (2022: nil).