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Registration number: 08404100

Fresh Maintenance Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 25 February 2024

 

Fresh Maintenance Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Fresh Maintenance Limited

Company Information

Directors

Stephen George Donnell

Sarah Timlin

Registered office

62a Compton Road
Southport
Merseyside
PR8 4HA

Accountants

Williams & Co Accountants
Pelican House
119c Eastbank Street
Southport
Merseyside
PR8 1DQ

 

Fresh Maintenance Limited

(Registration number: 08404100)
Balance Sheet as at 25 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

30,192

48,549

Current assets

 

Stocks

5

342,000

339,500

Debtors

6

188,866

104,772

Cash at bank and in hand

 

31,465

113,417

 

562,331

557,689

Creditors: Amounts falling due within one year

7

(301,331)

(329,590)

Net current assets

 

261,000

228,099

Total assets less current liabilities

 

291,192

276,648

Creditors: Amounts falling due after more than one year

7

(12,500)

(21,553)

Net assets

 

278,692

255,095

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

278,690

255,093

Shareholders' funds

 

278,692

255,095

 

Fresh Maintenance Limited

(Registration number: 08404100)
Balance Sheet as at 25 February 2024

For the financial year ending 25 February 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

.........................................
Stephen George Donnell
Director

 

Fresh Maintenance Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2024

1

General information

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

The address of its registered office is:
62a Compton Road
Southport
Merseyside
PR8 4HA

These financial statements were authorised for issue by the Board on 8 August 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.

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.

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.

 

Fresh Maintenance Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2024

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

Plant and machinery

10% reducing balance

Vehicles

15% reducing balance

Fixtures abd fittings

10% reducing balance

Computer equipment

25% reducing balance

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.

Trade 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.

 

Fresh Maintenance Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2024

Trade 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.

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.

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.

 

Fresh Maintenance Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

 

Fresh Maintenance Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 26 February 2023

27,362

106,562

41,101

175,025

Additions

330

-

317

647

Disposals

-

(12,301)

-

(12,301)

At 25 February 2024

27,692

94,261

41,418

163,371

Depreciation

At 26 February 2023

15,902

84,498

26,076

126,476

Charge for the year

1,290

7,863

1,519

10,672

Eliminated on disposal

-

(3,969)

-

(3,969)

At 25 February 2024

17,192

88,392

27,595

133,179

Carrying amount

At 25 February 2024

10,500

5,869

13,823

30,192

At 25 February 2023

11,460

22,064

15,025

48,549

5

Stocks

2024
£

2023
£

Raw materials and consumables

35,000

45,000

Work in progress

307,000

294,500

342,000

339,500

6

Debtors

Current

2024
£

2023
£

Trade debtors

179,598

95,506

Other debtors

9,268

9,266

 

188,866

104,772

 

Fresh Maintenance Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Bank loans and overdrafts

10,000

10,947

trade creditors

138,252

158,435

Amount owed to director

62,655

46,495

Taxation and social security

76,444

95,479

Other creditors

13,980

18,234

301,331

329,590

Due after one year

Loans and borrowings

12,500

21,553

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

12,500

21,553

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Dividends

   

2024

 

2023

   

£

 

£

Final dividend of £Nil (2023 - £2,000.00) per ordinary share

 

-

 

4,000