Strawberry Shortcake Ltd 08696230 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is wedding catering & private dining Digita Accounts Production Advanced 6.30.9574.0 Software true true 08696230 2022-11-01 2023-10-31 08696230 2023-10-31 08696230 bus:Director1 1 2023-10-31 08696230 bus:Director2 1 2023-10-31 08696230 bus:OrdinaryShareClass1 2023-10-31 08696230 bus:OrdinaryShareClass2 2023-10-31 08696230 core:RetainedEarningsAccumulatedLosses 2023-10-31 08696230 core:ShareCapital 2023-10-31 08696230 core:CurrentFinancialInstruments 2023-10-31 08696230 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 08696230 core:Non-currentFinancialInstruments 2023-10-31 08696230 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 08696230 core:FurnitureFittings 2023-10-31 08696230 core:MotorVehicles 2023-10-31 08696230 core:OfficeEquipment 2023-10-31 08696230 bus:SmallEntities 2022-11-01 2023-10-31 08696230 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08696230 bus:FullAccounts 2022-11-01 2023-10-31 08696230 bus:RegisteredOffice 2022-11-01 2023-10-31 08696230 bus:Director1 2022-11-01 2023-10-31 08696230 bus:Director1 1 2022-11-01 2023-10-31 08696230 bus:Director2 2022-11-01 2023-10-31 08696230 bus:Director2 1 2022-11-01 2023-10-31 08696230 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 08696230 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 08696230 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08696230 core:FurnitureFittings 2022-11-01 2023-10-31 08696230 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 08696230 core:MotorVehicles 2022-11-01 2023-10-31 08696230 core:OfficeEquipment 2022-11-01 2023-10-31 08696230 core:OtherRelatedParties 2022-11-01 2023-10-31 08696230 countries:Wales 2022-11-01 2023-10-31 08696230 2022-10-31 08696230 bus:Director1 1 2022-10-31 08696230 bus:Director2 1 2022-10-31 08696230 core:FurnitureFittings 2022-10-31 08696230 core:MotorVehicles 2022-10-31 08696230 core:OfficeEquipment 2022-10-31 08696230 2021-11-01 2022-10-31 08696230 2022-10-31 08696230 bus:Director1 1 2022-10-31 08696230 bus:Director2 1 2022-10-31 08696230 bus:OrdinaryShareClass1 2022-10-31 08696230 bus:OrdinaryShareClass2 2022-10-31 08696230 core:RetainedEarningsAccumulatedLosses 2022-10-31 08696230 core:ShareCapital 2022-10-31 08696230 core:CurrentFinancialInstruments 2022-10-31 08696230 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 08696230 core:Non-currentFinancialInstruments 2022-10-31 08696230 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 08696230 core:FurnitureFittings 2022-10-31 08696230 core:MotorVehicles 2022-10-31 08696230 core:OfficeEquipment 2022-10-31 08696230 bus:Director1 1 2021-11-01 2022-10-31 08696230 bus:Director2 1 2021-11-01 2022-10-31 08696230 bus:Director1 1 2021-10-31 08696230 bus:Director2 1 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 08696230

Strawberry Shortcake Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Strawberry Shortcake Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Strawberry Shortcake Ltd

Company Information

Directors

Mr S A Davis

Ms K L Manning

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Strawberry Shortcake Ltd

(Registration number: 08696230)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

67,338

18,687

Current assets

 

Stocks

6

1,420

1,420

Debtors

7

8,477

1,484

Cash at bank and in hand

 

70,409

96,277

 

80,306

99,181

Creditors: Amounts falling due within one year

8

(48,209)

(44,219)

Net current assets

 

32,097

54,962

Total assets less current liabilities

 

99,435

73,649

Creditors: Amounts falling due after more than one year

8

(61,670)

(19,829)

Net assets

 

37,765

53,820

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

37,763

53,818

Total equity

 

37,765

53,820

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Strawberry Shortcake Ltd

(Registration number: 08696230)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
Mr S A Davis
Director

.........................................
Ms K L Manning
Director

 
     
 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Unit 9, Cross Hands Business Centre
Heol Parc Mawr
Cross Hands
Llanelli
SA14 6RY

These financial statements were authorised for issue by the Board on 25 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Fixtures & fittings

20% Straight line

Motor vehicles

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 16).

 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

6,941

5,791

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

32,784

6,567

24,050

63,401

Additions

1,740

2,353

55,850

59,943

Disposals

-

-

(4,500)

(4,500)

At 31 October 2023

34,524

8,920

75,400

118,844

Depreciation

At 1 November 2022

32,603

3,055

9,056

44,714

Charge for the year

167

1,934

4,841

6,942

Eliminated on disposal

-

-

(150)

(150)

At 31 October 2023

32,770

4,989

13,747

51,506

Carrying amount

At 31 October 2023

1,754

3,931

61,653

67,338

At 31 October 2022

181

3,512

14,994

18,687

6

Stocks

2023
£

2022
£

Other inventories

1,420

1,420

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

3,503

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

3,198

-

Prepayments

 

1,776

1,484

 

8,477

1,484

 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

15,013

15,085

Trade creditors

 

3,267

5,044

Taxation and social security

 

9,567

15,033

Other related parties

 

3,455

777

Corporation tax liability

 

424

2,343

Other creditors

 

16,483

5,937

 

48,209

44,219

Due after one year

 

Loans and borrowings

10

61,670

19,829

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

61,670

19,829

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share A Class of £1 each

1

1

1

1

Ordinary Share B Class of £1 each

1

1

1

1

 

2

2

2

2

 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,752

19,829

HP and finance lease liabilities

44,918

-

61,670

19,829

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,081

15,085

HP and finance lease liabilities

5,932

-

15,013

15,085

11

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Other payments made to company by director
£

At 31 October 2023
£

Mr S A Davis

Interest free loan repayable on demand

(329)

116

(213)

       
     

Ms K L Manning

Interest free loan repayable on demand

(448)

404

(44)

       
     

 

2022

At 1 November 2021
£

Advances to director
£

Other payments made to company by director
£

At 31 October 2022
£

Mr S A Davis

Interest free loan repayable on demand

-

1,171

(1,500)

(329)

         
       

Ms K L Manning

Interest free loan repayable on demand

9,962

1,090

(11,500)

(448)

         
       

 

Strawberry Shortcake Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

 

Summary of transactions with other related parties

Scott Davis Ltd

Scott Davis Ltd is considered to be a related party by virtue of a common director.

 As at the balance sheet date, the above related party owed Strawberry Shortcake Ltd £3,198.27 (2022 : £Nil).