Registered number
03343878
Dipak Foods Limited
Filleted Accounts
31 July 2023
Dipak Foods Limited
Registered number: 03343878
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 13,000 4,000
Tangible assets 4 16,260 20,841
29,260 24,841
Current assets
Stocks 21,986 23,463
Debtors 5 62,688 88,949
Cash at bank and in hand 157,035 175,436
241,709 287,848
Creditors: amounts falling due within one year 6 (270,702) (268,478)
Net current (liabilities)/assets (28,993) 19,370
Total assets less current liabilities 267 44,211
Provisions for liabilities (3,089) (3,960)
Net (liabilities)/assets (2,822) 40,251
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,922) 40,151
Shareholders' funds (2,822) 40,251
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.
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.
B J Thanki
Director
Approved by the board on 26 July 2024
Dipak Foods 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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 20% reducing balance basis
Fixtures, fittings & equipment 15% reducing balance basis
Motor van 20% reducing balance basis
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 9,000
Additions 10,000
At 31 July 2023 19,000
Amortisation
At 1 August 2022 5,000
Provided during the year 1,000
At 31 July 2023 6,000
Net book value
At 31 July 2023 13,000
At 31 July 2022 4,000
4 Tangible fixed assets
Fixtures, fittings & equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 33,287 30,495 27,428 91,210
Additions - 130 - 130
At 31 July 2023 33,287 30,625 27,428 91,340
Depreciation
At 1 August 2022 25,562 28,614 16,193 70,369
Charge for the year 1,159 1,305 2,247 4,711
At 31 July 2023 26,721 29,919 18,440 75,080
Net book value
At 31 July 2023 6,566 706 8,988 16,260
At 31 July 2022 7,725 1,881 11,235 20,841
5 Debtors 2023 2022
£ £
Trade debtors 25,760 52,751
Other debtors 36,928 36,198
62,688 88,949
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 37,313 25,494
Taxation and social security costs - 1,614
Other creditors 233,389 241,370
270,702 268,478
7 Controlling party
Controlling party is the director, Mr B J Thanki.
8 Other information
Dipak Foods Limited is a private company limited by shares and incorporated in England. Its registered office is:
14 Walsgrave Avenue, Leicester, LE5 6PU.
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