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Registration number: 14086049

GB Potatoes Organisation Ltd

Unaudited Filleted Financial Statements

for the Period from 4 May 2022 to 31 July 2023

 

GB Potatoes Organisation Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

GB Potatoes Organisation Ltd

Company Information

Directors

T A Stevenson

M A Taylor

Dr M D Willcox

A Godfrey

S L Bambridge

J E Harrison

E J Backhouse

J A Young

M H Steel

E R Grewar

A J G Gibson

Company secretary

British Growers Association Limited

Registered office

BGA House
Nottingham Road
Louth
Lincolnshire
LN11 0WB

 

GB Potatoes Organisation Ltd

(Registration number: 14086049)
Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Other financial assets

4

1

Current assets

 

Debtors

5

4,027

Cash at bank and in hand

 

114,634

 

118,661

Creditors: Amounts falling due within one year

6

(19,892)

Net current assets

 

98,769

Net assets

 

98,770

Capital and reserves

 

Retained earnings

98,770

Shareholders' funds

 

98,770

For the financial period ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
A Godfrey
Director

.........................................
A J G Gibson
Director

 

GB Potatoes Organisation Ltd

Notes to the Unaudited Financial Statements for the Period from 4 May 2022 to 31 July 2023

1

General information

The company is a private company limited by guarantee incorporated in England and Wales and the company registration number is 14086049.

The address of its registered office is:
BGA House
Nottingham Road
Louth
Lincolnshire
LN11 0WB

These financial statements cover the individual entity GB Potatoes Organisation Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The company trades as a mutual society and accordingly no corporation tax is chargeable on its excess of income over expenditure arising from its activities with members. Corporation tax is chargeable on other income of the society at rates current during the period of the accounts.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

GB Potatoes Organisation Ltd

Notes to the Unaudited Financial Statements for the Period from 4 May 2022 to 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

3

Staff numbers

The average number of persons employed by the Company during the period, was 0.

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

1

1

At 31 July 2023

1

1

Carrying amount

At 31 July 2023

1

1

5

Debtors

Current

2023
£

Trade debtors

1,403

Other debtors

2,624

 

4,027

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Trade creditors

 

16,158

Accruals and deferred income

 

3,734

 

19,892