Company registration number 06061190 (England and Wales)
THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
626,365
644,340
Current assets
Stocks
110,139
106,867
Debtors
5
420,139
351,084
Cash at bank and in hand
475,777
299,628
1,006,055
757,579
Creditors: amounts falling due within one year
6
(391,201)
(224,196)
Net current assets
614,854
533,383
Total assets less current liabilities
1,241,219
1,177,723
Provisions for liabilities
(111,150)
(122,500)
Net assets
1,130,069
1,055,223
Capital and reserves
Called up share capital
1,000
1,000
Capital redemption reserve
18,620
18,620
Profit and loss reserves
1,110,449
1,035,603
Total equity
1,130,069
1,055,223

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 2023 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.

THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 November 2023 and are signed on its behalf by:
A Holt
Director
Company Registration No. 06061190
THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

The Real Lancashire Black Pudding Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Pudding Mill, Waterside Road, Haslingden, Rossendale, Lancashire, United Kingdom, BB4 5EN.

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.

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.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
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:

Plant and machinery
10% reducing balance
Fixtures and fittings
10% reducing balance
Office equipment
25% reducing balance
Motor vehicles
25% reducing balance

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.

1.5
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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2023
2022
Number
Number
Total
30
30
THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
150,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
150,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
928,545
107,099
27,365
46,550
1,109,559
Additions
46,566
-
0
-
0
-
0
46,566
At 31 March 2023
975,111
107,099
27,365
46,550
1,156,125
Depreciation and impairment
At 1 April 2022
372,709
50,535
19,601
22,374
465,219
Depreciation charged in the year
50,907
5,649
1,941
6,044
64,541
At 31 March 2023
423,616
56,184
21,542
28,418
529,760
Carrying amount
At 31 March 2023
551,495
50,915
5,823
18,132
626,365
At 31 March 2022
555,836
56,564
7,764
24,176
644,340
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
281,091
226,538
Other debtors
139,048
124,546
420,139
351,084
THE REAL LANCASHIRE BLACK PUDDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
240,134
156,518
Taxation and social security
51,918
17,327
Other creditors
99,149
50,351
391,201
224,196
7
Financial commitments, guarantees and contingent liabilities

The total amount of financial commitments not included in the balance sheet is £321,875 (2022 - £359,375). This is an operating lease for the building, signed November 2021, for 10 years.

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