IRIS Accounts Production v24.1.0.578 08059285 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080592852023-05-31080592852024-05-31080592852023-06-012024-05-31080592852022-05-31080592852022-06-012023-05-31080592852023-05-3108059285ns15:EnglandWales2023-06-012024-05-3108059285ns14:PoundSterling2023-06-012024-05-3108059285ns10:Director12023-06-012024-05-3108059285ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3108059285ns10:SmallEntities2023-06-012024-05-3108059285ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3108059285ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3108059285ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3108059285ns10:FullAccounts2023-06-012024-05-3108059285ns10:OrdinaryShareClass12023-06-012024-05-3108059285ns10:Director22023-06-012024-05-3108059285ns10:RegisteredOffice2023-06-012024-05-3108059285ns5:CurrentFinancialInstruments2024-05-3108059285ns5:CurrentFinancialInstruments2023-05-3108059285ns5:ShareCapital2024-05-3108059285ns5:ShareCapital2023-05-3108059285ns5:RetainedEarningsAccumulatedLosses2024-05-3108059285ns5:RetainedEarningsAccumulatedLosses2023-05-3108059285ns5:PlantMachinery2023-06-012024-05-3108059285ns5:FurnitureFittings2023-06-012024-05-3108059285ns5:ComputerEquipment2023-06-012024-05-3108059285ns5:PlantMachinery2023-05-3108059285ns5:FurnitureFittings2023-05-3108059285ns5:ComputerEquipment2023-05-3108059285ns5:PlantMachinery2024-05-3108059285ns5:FurnitureFittings2024-05-3108059285ns5:ComputerEquipment2024-05-3108059285ns5:PlantMachinery2023-05-3108059285ns5:FurnitureFittings2023-05-3108059285ns5:ComputerEquipment2023-05-3108059285ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3108059285ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3108059285ns5:DeferredTaxation2023-05-3108059285ns5:DeferredTaxation2023-06-012024-05-3108059285ns5:DeferredTaxation2024-05-3108059285ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 08059285 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 May 2024

for

Breading and Coating Ltd

Breading and Coating Ltd (Registered number: 08059285)

Contents of the Financial Statements
For The Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Breading and Coating Ltd

Company Information
For The Year Ended 31 May 2024







DIRECTORS: Dr M K N Qureshi
D S Bull





REGISTERED OFFICE: Unit 7a Hadham Industrial Estate
Church End Little Hadham
Ware
Hertfordshire
SG11 2DY





REGISTERED NUMBER: 08059285 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Breading and Coating Ltd (Registered number: 08059285)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,149 194,553

CURRENT ASSETS
Stocks 434,563 384,792
Debtors 5 918,616 1,002,336
Cash at bank 1,231,952 717,114
2,585,131 2,104,242
CREDITORS
Amounts falling due within one year 6 1,028,153 1,046,687
NET CURRENT ASSETS 1,556,978 1,057,555
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,703,127

1,252,108

PROVISIONS FOR LIABILITIES 8 36,537 48,638
NET ASSETS 1,666,590 1,203,470

CAPITAL AND RESERVES
Called up share capital 9 600 600
Retained earnings 1,665,990 1,202,870
SHAREHOLDERS' FUNDS 1,666,590 1,203,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





D S Bull - Director


Breading and Coating Ltd (Registered number: 08059285)

Notes to the Financial Statements
For The Year Ended 31 May 2024


1. STATUTORY INFORMATION

Breading and Coating Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost, 10% on cost and Straight line over 30 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Breading and Coating Ltd (Registered number: 08059285)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 469,113 166,733 4,515 640,361
Additions 20,750 255 - 21,005
At 31 May 2024 489,863 166,988 4,515 661,366
DEPRECIATION
At 1 June 2023 326,422 114,871 4,515 445,808
Charge for year 56,380 13,029 - 69,409
At 31 May 2024 382,802 127,900 4,515 515,217
NET BOOK VALUE
At 31 May 2024 107,061 39,088 - 146,149
At 31 May 2023 142,691 51,862 - 194,553

Breading and Coating Ltd (Registered number: 08059285)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 852,689 898,979
Other debtors 65,927 103,357
918,616 1,002,336

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 121,551 137,345
Trade creditors 330,639 546,288
Taxation and social security 549,911 331,364
Other creditors 26,052 31,690
1,028,153 1,046,687

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice discounting 121,551 137,345

Invoice discounting is secured against book debts.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 36,537 48,638

Deferred
tax
£   
Balance at 1 June 2023 48,638
Credit to Statement of Income and Retained Earnings during year (12,101 )
Balance at 31 May 2024 36,537

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
600 Ordinary £1 600 600