9 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 512,653 20,620 282,871 250,402 383,823 30,197 268,871 145,149 105,253 128,830 xbrli:pure xbrli:shares iso4217:GBP 03804672 2022-08-01 2023-07-31 03804672 2023-07-31 03804672 2022-07-31 03804672 2021-08-01 2022-07-31 03804672 2022-07-31 03804672 bus:Director2 2022-08-01 2023-07-31 03804672 core:PlantMachinery 2022-07-31 03804672 core:PlantMachinery 2023-07-31 03804672 core:PlantMachinery 2022-08-01 2023-07-31 03804672 core:WithinOneYear 2023-07-31 03804672 core:WithinOneYear 2022-07-31 03804672 core:AfterOneYear 2023-07-31 03804672 core:AfterOneYear 2022-07-31 03804672 core:ShareCapital 2023-07-31 03804672 core:ShareCapital 2022-07-31 03804672 core:RetainedEarningsAccumulatedLosses 2023-07-31 03804672 core:RetainedEarningsAccumulatedLosses 2022-07-31 03804672 core:BetweenOneFiveYears 2023-07-31 03804672 core:PlantMachinery 2022-07-31 03804672 bus:SmallEntities 2022-08-01 2023-07-31 03804672 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 03804672 bus:FullAccounts 2022-08-01 2023-07-31 03804672 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 03804672 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03804672 core:AfterOneYear 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: 03804672
Golden Sunrise Foods Limited
Unaudited financial statements
31 July 2023
Golden Sunrise Foods Limited
Statement of financial position
31 July 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
105,253
128,830
Current assets
Stocks
224,648
257,320
Debtors
6
303,847
204,563
Cash at bank and in hand
2,760
1,560
---------
---------
531,255
463,443
Creditors: Amounts falling due within one year
7
( 506,827)
( 391,244)
---------
---------
Net current assets
24,428
72,199
---------
---------
Total assets less current liabilities
129,681
201,029
Creditors: Amounts falling due after more than one year
8
( 27,846)
( 50,993)
Provisions
Taxation including deferred tax
( 26,314)
( 23,807)
---------
---------
Net assets
75,521
126,229
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
75,421
126,129
-------
---------
Shareholders funds
75,521
126,229
-------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Golden Sunrise Foods Limited
Statement of financial position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 15 April 2024 , and are signed on behalf of the board by:
W T Appleby
Director
Company registration number: 03804672
Golden Sunrise Foods Limited
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Gables, Old Market Street, Thetford, Norfolk, IP24 2EN. The company's trading address during the year was Unit 39 East Coast Business Park, Clenchwarton Road, West Lynn, Kings Lynn, PE34 3LW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% - 33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
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 at a constant rate of charge on the balance of capital repayments outstanding.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 9 (2022: 9 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 August 2022
512,653
512,653
Additions
20,620
20,620
Disposals
( 282,871)
( 282,871)
---------
---------
At 31 July 2023
250,402
250,402
---------
---------
Depreciation
At 1 August 2022
383,823
383,823
Charge for the year
30,197
30,197
Disposals
( 268,871)
( 268,871)
---------
---------
At 31 July 2023
145,149
145,149
---------
---------
Carrying amount
At 31 July 2023
105,253
105,253
---------
---------
At 31 July 2022
128,830
128,830
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
222,545
162,770
Amounts owed by group undertakings and undertakings in which the company has a participating interest
66,435
40,837
Other debtors
14,867
956
---------
---------
303,847
204,563
---------
---------
7. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
79,747
62,361
Trade creditors
373,693
258,828
Social security and other taxes
10,388
29,529
Other creditors
42,999
40,526
---------
---------
506,827
391,244
---------
---------
Included in creditors are net obligations under hire purchase agreements and bank loans and overdrafts of £78,922 (2022: £84,530) which are secured on assets held by the company.
8. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,146
29,117
Other creditors
6,700
21,876
-------
-------
27,846
50,993
-------
-------
Included in creditors are net obligations under hire purchase agreements and bank loans of £27,846 (2022: £50,993) which are secured on the assets concerned.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
45,000
Later than 1 year and not later than 5 years
68,341
---------
----
113,341
---------
----