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Company Registration No. 13148375 (England and Wales)
Sherwood Food & Drink Limited Unaudited accounts for the period from 1 February 2022 to 31 March 2023
Sherwood Food & Drink Limited Unaudited accounts Contents
Page
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Sherwood Food & Drink Limited Company Information for the period from 1 February 2022 to 31 March 2023
Directors
Moira Jane Christy Oliver David Christy
Company Number
13148375 (England and Wales)
Registered Office
Hockerton Grange Kirklington Road Hockerton Southwell NG25 0JP England
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
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Sherwood Food & Drink Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
25,793 
9,605 
Tangible assets
861 
- 
26,654 
9,605 
Current assets
Inventories
2,100 
- 
Debtors
576 
- 
Cash at bank and in hand
130 
- 
2,806 
- 
Creditors: amounts falling due within one year
(26,360)
(10,333)
Net current liabilities
(23,554)
(10,333)
Total assets less current liabilities
3,100 
(728)
Creditors: amounts falling due after more than one year
(5,966)
- 
Net liabilities
(2,866)
(728)
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
(3,066)
(928)
Shareholders' funds
(2,866)
(728)
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by
Oliver David Christy Director Company Registration No. 13148375
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Sherwood Food & Drink Limited Notes to the Accounts for the period from 1 February 2022 to 31 March 2023
1
Statutory information
Sherwood Food & Drink Limited is a private company, limited by shares, registered in England and Wales, registration number 13148375. The registered office is Hockerton Grange Kirklington Road, Hockerton, Southwell, NG25 0JP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets comprise development costs incurred pre-production. These will now be amortised on a straight line basis over 5 years. Also included in intangible fixed assets is the devOATed trade mark which has been valued at £7,500 and will be reviewed annually for impairment.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
3 years straight line
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Going concern
The accounts have been prepared on a going concern basis on the understanding that the directors will continue to support the company for the foreseeable future.
Research and development
Expenditure on research is written off in the year in which it is incurred. Development costs have been capitalised and will be amortised over a period of 5 years now production has commenced.
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Sherwood Food & Drink Limited Notes to the Accounts for the period from 1 February 2022 to 31 March 2023
Government grants
Government grants in relation to intangible fixed assets are credited to profit and loss account over the useful lives of the related assets, in this case the development costs which are being written off over 5 years straight line.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2022
9,605 
Additions
21,755 
At 31 March 2023
31,360 
Amortisation
At 1 February 2022
- 
Charge for the period
5,567 
At 31 March 2023
5,567 
Net book value
At 31 March 2023
25,793 
At 31 January 2022
9,605 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2022
- 
- 
- 
Additions
152 
1,231 
1,383 
At 31 March 2023
152 
1,231 
1,383 
Depreciation
Charge for the period
44 
478 
522 
At 31 March 2023
44 
478 
522 
Net book value
At 31 March 2023
108 
753 
861 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
547 
- 
Other debtors
29 
- 
576 
- 
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Sherwood Food & Drink Limited Notes to the Accounts for the period from 1 February 2022 to 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
(1,342)
- 
Trade creditors
1,255 
- 
Loans from directors
23,087 
10,333 
Accruals
750 
- 
Deferred income
2,610 
- 
26,360 
10,333 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Deferred income
5,966 
- 
9
Average number of employees
During the period the average number of employees was 0 (2022: 0).
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