Company registration number 07984844 (England and Wales)
JUST DESSERTS YORKSHIRE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
JUST DESSERTS YORKSHIRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
JUST DESSERTS YORKSHIRE LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
6
163,888
146,550
Current assets
Stocks
124,976
82,388
Debtors
7
820,576
614,996
Cash at bank and in hand
69,691
36,868
1,015,243
734,252
Creditors: amounts falling due within one year
8
(201,593)
(224,702)
Net current assets
813,650
509,550
Total assets less current liabilities
977,538
656,100
Provisions for liabilities
(18,000)
(10,000)
Net assets
959,538
646,100
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
959,438
646,000
Total equity
959,538
646,100

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 16 January 2024 and are signed on its behalf by:
Mr M Younis
Director
Company Registration No. 07984844
JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

Just Desserts Yorkshire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Station Road, Shipley, West Yorkshire, United Kingdom, BD18 2JL.

1.1
Reporting period

The financial statements cover a 12 month period ended 31 May 2023. The comparative amounts (including the related notes) are presented for a long period from 1 April 2021 to 31 May 2022.

1.2
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of RFPG Holdings Limited. These consolidated financial statements are available from its registered office, Regal House, Wallis Street, Bradford BD8 9RR.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
1.4
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
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.

1.6
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:

Leasehold improvements
10% straight line
Plant and equipment
10% straight line
Fixtures and fittings
20% straight line
Computer equipment
20% straight line
Motor vehicles
33.33% straight line

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
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.

1.12
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 6 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
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.

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Change in accounting policy

The company has changed their accounting policy during the year in relation to the allocation of certain expense costs between cost of sales to administration expenses, thus to better align themselves with the group, as shown in the note 13.

3
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 7 -
4
Employees

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

2023
2022
Number
Number
Total
37
35
5
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2022 and 31 May 2023
100,000
Amortisation and impairment
At 1 June 2022 and 31 May 2023
100,000
Carrying amount
At 31 May 2023
-
0
At 31 May 2022
-
0
6
Tangible fixed assets
Land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 June 2022
86,723
288,133
374,856
Additions
-
0
63,571
63,571
Disposals
-
0
(19,896)
(19,896)
At 31 May 2023
86,723
331,808
418,531
Depreciation and impairment
At 1 June 2022
26,016
202,290
228,306
Depreciation charged in the year
8,672
37,561
46,233
Eliminated in respect of disposals
-
0
(19,896)
(19,896)
At 31 May 2023
34,688
219,955
254,643
Carrying amount
At 31 May 2023
52,035
111,853
163,888
At 31 May 2022
60,707
85,843
146,550
JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 8 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
140,347
70,455
Amounts owed by group undertakings
671,830
512,452
Other debtors
8,399
32,089
820,576
614,996
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-
0
3,628
Trade creditors
68,568
99,072
Corporation tax
95,867
79,698
Other taxation and social security
23,283
25,684
Other creditors
13,875
16,620
201,593
224,702
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Lesley Kendrew
Statutory Auditor:
BHP LLP
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
65,000
-
0
JUST DESSERTS YORKSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 9 -
11
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan account
-
-
31,675
(31,675)
-
-
31,675
(31,675)
-
12
Parent company

The company is a 100% subsidiary of RFPG Holdings Limited. The smallest group of undertakings for which group accounts are drawn up and of which the company is a member is RFPG Holdings Limited, the registered office is Regal House, Wallis Street, Bradford, BD8 9RR.

13
Prior period adjustment

The company has changed their accounting policy during the year in relation to the allocation of certain expense costs between cost of sales to administration expenses, thus to better align themselves with the group.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 May 2022
£
£
£
Net assets
646,100
-
646,100
Capital and reserves
Total equity
646,100
-
646,100
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 May 2022
£
£
£
Cost of sales
(795,577)
(244,059)
(1,039,636)
Administrative expenses
(961,951)
244,059
(717,892)
Profit for the financial period
321,400
-
321,400
2023-05-312022-06-01false16 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr M YounisAbsar YounisMohammed Ali ChaudhryMr M Younisfalse079848442022-06-012023-05-31079848442023-05-31079848442022-05-3107984844core:LandBuildings2023-05-3107984844core:OtherPropertyPlantEquipment2023-05-3107984844core:LandBuildings2022-05-3107984844core:OtherPropertyPlantEquipment2022-05-3107984844core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3107984844core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3107984844core:CurrentFinancialInstruments2023-05-3107984844core:CurrentFinancialInstruments2022-05-3107984844core:ShareCapital2023-05-3107984844core:ShareCapital2022-05-3107984844core:RetainedEarningsAccumulatedLosses2023-05-3107984844core:RetainedEarningsAccumulatedLosses2022-05-3107984844bus:CompanySecretaryDirector12022-06-012023-05-3107984844core:Goodwill2022-06-012023-05-3107984844core:LandBuildingscore:LongLeaseholdAssets2022-06-012023-05-3107984844core:PlantMachinery2022-06-012023-05-3107984844core:FurnitureFittings2022-06-012023-05-3107984844core:ComputerEquipment2022-06-012023-05-3107984844core:MotorVehicles2022-06-012023-05-31079848442021-04-012022-05-3107984844core:NetGoodwill2022-05-3107984844core:NetGoodwill2023-05-3107984844core:NetGoodwill2022-05-3107984844core:LandBuildings2022-05-3107984844core:OtherPropertyPlantEquipment2022-05-31079848442022-05-3107984844core:LandBuildings2022-06-012023-05-3107984844core:OtherPropertyPlantEquipment2022-06-012023-05-3107984844core:WithinOneYear2023-05-3107984844core:WithinOneYear2022-05-3107984844core:ContinuingOperations2021-04-012022-05-3107984844bus:PrivateLimitedCompanyLtd2022-06-012023-05-3107984844bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3107984844bus:FRS1022022-06-012023-05-3107984844bus:Audited2022-06-012023-05-3107984844bus:Director12022-06-012023-05-3107984844bus:Director22022-06-012023-05-3107984844bus:Director32022-06-012023-05-3107984844bus:CompanySecretary12022-06-012023-05-3107984844bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP