Registered number
08638902
Dean Food Limited
Filleted Accounts
31 July 2023
Dean Food Limited
Registered number: 08638902
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 74,943 119,358
Current assets
Stocks 61,957 47,637
Debtors 4 63,114 115,005
Cash at bank and in hand 479,986 118,058
605,057 280,700
Creditors: amounts falling due within one year 5 (205,459) (116,487)
Net current assets 399,598 164,213
Total assets less current liabilities 474,541 283,571
Creditors: amounts falling due after more than one year 6 (100,000) -
Provisions for liabilities (7,988) (9,734)
Net assets 366,553 273,837
Capital and reserves
Called up share capital 100 100
Profit and loss account 366,453 273,737
Shareholders' funds 366,553 273,837
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Director's responsibilities
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Hossein Afrang
Director
Approved by the board on 4 September 2023
The annexed notes form part of these financial statements
Dean Food Limited
Notes to the Accounts
for the year ended 31 July 2023
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Land and buildings 18% reducing balance
Plant and machinery 18% reducing balance
Motor vehicles 18% 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.
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.
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 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 8,050 98,223 81,991 188,264
Disposals (8,050) (25,792) (15,906) (49,748)
At 31 July 2023 - 72,431 66,085 138,516
Depreciation
At 1 August 2022 3,267 36,457 29,182 68,906
Charge for the year - 7,835 8,614 16,449
On disposals (3,267) (7,557) (10,958) (21,782)
At 31 July 2023 - 36,735 26,838 63,573
Net book value
At 31 July 2023 - 35,696 39,247 74,943
At 31 July 2022 4,783 61,766 52,809 119,358
4 Debtors 2023 2022
£ £
Trade debtors 55,522 102,708
Other debtors 7,592 12,297
63,114 115,005
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,500 13,131
Trade creditors 87,227 50,722
Taxation and social security costs 40,936 16,667
Other creditors 75,796 35,967
205,459 116,487
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 100,000 -
7 Controlling party
During the year the company was under the control of the sole director and shareholder Mr Hossein Afrang.
8 Other information
Dean Food Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3, Top Deck
Smethurst Lane
Bolton
BL4 0AN
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