Registered number
10323708
ACAI BERRY FOODS LTD
Filleted Accounts
31 August 2020
ACAI BERRY FOODS LTD
Registered number: 10323708
Balance Sheet
as at 31 August 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 4 31,094 23,389
Current assets
Stocks 35,000 -
Debtors 5 12,145 89,078
Cash at bank and in hand 41,101 4,628
88,246 93,706
Creditors: amounts falling due within one year 6 (111,907) (108,157)
Net current liabilities (23,661) (14,451)
Total assets less current liabilities 7,433 8,938
Creditors: amounts falling due after more than one year 7 - (132,150)
Net assets/(liabilities) 7,433 (123,212)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 6,433 (124,212)
Shareholder's funds 7,433 (123,212)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the company’s creditors. Should this support be withdrawn and not replaced by alternative finance, the company would be unable to continue trading. Adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Marcus Vinicius De Paula Carmo
Director
Approved by the board on 19 January 2024
ACAI BERRY FOODS LTD
Notes to the Accounts
for the year ended 31 August 2020
2 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.
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:
Motor vehicles 5 years straight line
Computer equipment 5 years straight line
Fixtures, fittings, tools and equipment 5 years straight line
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
3 Employees 2020 2019
Number Number
Average number of persons employed by the company 2 2
4 Tangible fixed assets
Computer
equipment
Fixtures &
fittings
Motor vehicles Total
£ £ £ £
Cost
At 1 September 2019 4,003 17,464 2,850 24,317
Additions 205 6,391 7,990 14,586
At 31 August 2020 4,208 23,855 10,840 38,903
Depreciation
At 1 September 2019 423 239 266 928
Charge for the year 1,321 3,909 1,651 6,881
At 31 August 2020 1,744 4,148 1,917 7,809
Net book value
At 31 August 2020 2,464 19,707 8,923 31,094
At 31 August 2019 3,580 17,225 2,584 23,389
5 Debtors 2020 2019
£ £
VAT 6,359 -
Accrued income and prepayments - 7,000
Other debtors 5,786 82,078
12,145 89,078
6 Creditors: amounts falling due within one year 2020 2019
£ £
Trade creditors 102,625 5,747
Taxation and social security costs 5,459 -
VAT - (348)
Loans from directors - 19,838
Accruals 3,823 82,920
111,907 108,157
7 Creditors: amounts falling due after one year 2020 2019
£ £
Bank loans - 132,150
8 Other information
ACAI BERRY FOODS LTD is a private company limited by shares and incorporated in England. Its registered office is:
27 Margaret Street,
Fourth Floor,
London,
United Kingdom,
W1W 8RY
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