Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-01falseNo description of principal activity77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07359287 2022-09-01 2023-08-31 07359287 2021-09-01 2022-08-31 07359287 2023-08-31 07359287 2022-08-31 07359287 c:Director1 2022-09-01 2023-08-31 07359287 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 07359287 d:Buildings d:ShortLeaseholdAssets 2023-08-31 07359287 d:Buildings d:ShortLeaseholdAssets 2022-08-31 07359287 d:PlantMachinery 2022-09-01 2023-08-31 07359287 d:PlantMachinery 2023-08-31 07359287 d:PlantMachinery 2022-08-31 07359287 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07359287 d:MotorVehicles 2022-09-01 2023-08-31 07359287 d:MotorVehicles 2023-08-31 07359287 d:MotorVehicles 2022-08-31 07359287 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07359287 d:FurnitureFittings 2022-09-01 2023-08-31 07359287 d:FurnitureFittings 2023-08-31 07359287 d:FurnitureFittings 2022-08-31 07359287 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07359287 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07359287 d:CurrentFinancialInstruments 2023-08-31 07359287 d:CurrentFinancialInstruments 2022-08-31 07359287 d:Non-currentFinancialInstruments 2023-08-31 07359287 d:Non-currentFinancialInstruments 2022-08-31 07359287 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 07359287 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 07359287 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 07359287 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 07359287 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 07359287 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 07359287 d:ShareCapital 2023-08-31 07359287 d:ShareCapital 2022-08-31 07359287 d:RetainedEarningsAccumulatedLosses 2023-08-31 07359287 d:RetainedEarningsAccumulatedLosses 2022-08-31 07359287 c:FRS102 2022-09-01 2023-08-31 07359287 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 07359287 c:FullAccounts 2022-09-01 2023-08-31 07359287 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07359287 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 07359287 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 07359287 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 07359287 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 07359287 2 2022-09-01 2023-08-31 07359287 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 07359287









GEORGIOS UK WHOLESALE FOODS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10


 
GEORGIOS UK WHOLESALE FOODS LIMITED
REGISTERED NUMBER: 07359287

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,352
53,093

  
25,352
53,093

Current assets
  

Stocks
  
44,120
52,133

Debtors: amounts falling due within one year
 5 
355,053
327,878

Cash at bank and in hand
 6 
32,828
30,688

  
432,001
410,699

Creditors: amounts falling due within one year
 7 
(424,572)
(407,827)

Net current assets
  
 
 
7,429
 
 
2,872

Total assets less current liabilities
  
32,781
55,965

Creditors: amounts falling due after more than one year
 8 
(30,002)
(50,668)

  

Net assets
  
2,779
5,297


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
2,777
5,295

  
2,779
5,297


Page 1

 
GEORGIOS UK WHOLESALE FOODS LIMITED
REGISTERED NUMBER: 07359287
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C Georgio
Director

Date: 24 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Georgios UK Wholesale Foods Limited is a private company limited by shares. The company is incorporated in England & Wales and its registered address is Unit 7 Block B Wednesbury Trading Estate, Bilston Road, Wednesbury, West Midlands, WS10 7JN. The registered number is 07359287.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
50% reducing balance
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by 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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 5

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. 


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
36,513
111,797
134,611
12,837
295,758


Additions
-
2,000
-
1,105
3,105


Disposals
-
(35,733)
(42,231)
-
(77,964)



At 31 August 2023

36,513
78,064
92,380
13,942
220,899



Depreciation


At 1 September 2022
36,513
84,855
112,677
8,620
242,665


Charge for the year on owned assets
-
7,235
5,484
1,331
14,050


Disposals
-
(20,658)
(40,510)
-
(61,168)



At 31 August 2023

36,513
71,432
77,651
9,951
195,547



Net book value



At 31 August 2023
-
6,632
14,729
3,991
25,352



At 31 August 2022
-
26,942
21,934
4,217
53,093

Page 7

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
58,821
40,410

Amounts owed by joint ventures and associated undertakings
63,362
65,762

Other debtors
215,485
218,905

Prepayments and accrued income
17,385
2,801

355,053
327,878



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
32,828
30,688

32,828
30,688



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
10,200
10,200

Trade creditors
342,334
300,272

Corporation tax
53,436
67,278

Other taxation and social security
491
979

Obligations under finance lease and hire purchase contracts
-
10,020

Other creditors
13,661
15,578

Accruals and deferred income
4,450
3,500

424,572
407,827


Page 8

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,076
37,380

Other loans
6,926
6,926

Net obligations under finance leases and hire purchase contracts
-
6,362

30,002
50,668



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
10,200
10,200


10,200
10,200


Amounts falling due 2-5 years

Bank loans
23,076
37,380

Other loans
6,926
6,926


30,002
44,306


40,202
54,506



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
-
10,020

Between 1-5 years
-
6,362

-
16,382

Page 9

 
GEORGIOS UK WHOLESALE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Transactions with directors

Included in other debtors is an amount of £44,196 due to the company from the director (2022: £51,269).
Interest has been applied at a commercial rate of 2.25% in regard to this.

 
Page 10