Registered number
01281811
BK Growers Ltd
Filleted Accounts
31 January 2024
BK Growers Ltd
Registered number: 01281811
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 226,881 233,257
Current assets
Stocks 69,032 69,032
Cash at bank and in hand 420,802 338,355
489,834 407,387
Creditors: amounts falling due within one year 4 (185,719) (162,204)
Net current assets 304,115 245,183
Total assets less current liabilities 530,996 478,440
Provisions for liabilities (40,454) (41,625)
Net assets 490,542 436,815
Capital and reserves
Called up share capital 116 111
Profit and loss account 490,426 436,704
Shareholders' funds 490,542 436,815
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.
The members have 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.
Alan Wilcock
Director
Approved by the board on 5 March 2024
BK Growers Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 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:
Buildings 5% on cost
Plant and machinery 10% on reducing balance
Motor vehicles 25% on reducing balance
Computer Equipment 33% on cost
Fixtures & Fittings 15% on reducing balance
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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 19
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 90,807 431,622 81,180 603,609
Additions - 24,504 - 24,504
At 31 January 2024 90,807 456,126 81,180 628,113
Depreciation
At 1 February 2023 87,816 228,760 53,776 370,352
Charge for the year 1,032 22,997 6,851 30,880
At 31 January 2024 88,848 251,757 60,627 401,232
Net book value
At 31 January 2024 1,959 204,369 20,553 226,881
At 31 January 2023 2,991 202,862 27,404 233,257
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 24,979 34,968
Trade creditors 3,371 30,355
Taxation and social security costs 61,313 30,689
Other creditors 96,056 66,192
185,719 162,204
5 Other information
BK Growers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Linton Common
Linton
Wetherby
LS22 4JD
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