Registered number
08605015
Hey Pesto Ltd
Filleted Accounts
31 July 2024
Hey Pesto Ltd
Registered number: 08605015
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 2,345 2,625
Current assets
Stocks 2,500 2,500
Debtors 5 33,314 43,939
Cash at bank and in hand 175,793 129,257
211,607 175,696
Creditors: amounts falling due within one year 6 (99,756) (63,808)
Net current assets 111,851 111,888
Total assets less current liabilities 114,196 114,513
Creditors: amounts falling due after more than one year 7 (22,358) (32,956)
Net assets 91,838 81,557
Capital and reserves
Called up share capital 100 100
Profit and loss account 91,738 81,457
Shareholder's funds 91,838 81,557
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs C L H Gardner Director
Approved by the board on 31 August 2024
Hey Pesto Ltd
Notes to the Accounts
for the year ended 31 July 2024
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:
Office equipment over 4 years
Plant and machinery over 4 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 20,000
At 31 July 2024 20,000
Amortisation
At 1 August 2023 20,000
At 31 July 2024 20,000
Net book value
At 31 July 2024 -
4 Tangible fixed assets
Office equipment Plant and machinery Total
£ £ £
Cost
At 1 August 2023 16,522 56,074 72,596
Additions 791 - 791
At 31 July 2024 17,313 56,074 73,387
Depreciation
At 1 August 2023 13,897 56,074 69,971
Charge for the year 1,071 - 1,071
At 31 July 2024 14,968 56,074 71,042
Net book value
At 31 July 2024 2,345 - 2,345
At 31 July 2023 2,625 - 2,625
5 Debtors 2024 2023
£ £
Trade debtors 33,314 43,939
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 22,722 5,583
Taxation and social security costs 51,188 56,225
Other creditors 25,846 2,000
99,756 63,808
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,358 32,956
8 Controlling party
The company is controlled by Mrs C L H Gardner.
9 Other information
Hey Pesto Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Parton Court Cottage
Parton Road
Churchdown
Glos
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