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Registered number: 11655435
Priddyfair Nutrition Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 11655435
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,654 6,804
Tangible Assets 5 544 769
6,198 7,573
CURRENT ASSETS
Stocks 6 10,226 18,464
Debtors 7 2,211 2,877
Cash at bank and in hand 37,955 80,675
50,392 102,016
Creditors: Amounts Falling Due Within One Year 8 (13,859 ) (46,244 )
NET CURRENT ASSETS (LIABILITIES) 36,533 55,772
TOTAL ASSETS LESS CURRENT LIABILITIES 42,731 63,345
NET ASSETS 42,731 63,345
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 42,631 63,245
SHAREHOLDERS' FUNDS 42,731 63,345
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For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs Mutiah Kazeem
Director
13/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Priddyfair Nutrition Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11655435 . The registered office is 6 Turkish Oak 68 Kent House Road, Sydenham, London, SE26 5LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 11,500
As at 30 November 2023 11,500
Amortisation
As at 1 December 2022 4,696
Provided during the period 1,150
As at 30 November 2023 5,846
Net Book Value
As at 30 November 2023 5,654
As at 1 December 2022 6,804
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 1,818
Additions 121
As at 30 November 2023 1,939
Depreciation
As at 1 December 2022 1,049
Provided during the period 346
As at 30 November 2023 1,395
Net Book Value
As at 30 November 2023 544
As at 1 December 2022 769
6. Stocks
2023 2022
£ £
Finished goods 10,226 18,464
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,840 2,396
Other debtors 371 481
2,211 2,877
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 11,029 7,875
Other creditors 1,044 33,195
Taxation and social security 1,786 5,174
13,859 46,244
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