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Registered Number: 06037821
England and Wales

 

 

 

ARNOLD DAIRIES LIMITED


Report of the Directors and Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023
Principal activities
The companys principal activity during the year continued to be the supply of dairy and other food
Directors
The directors who served the company throughout the year were as follows:
Ms Andrea Fisher
Mr Peter Gibbs
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Ms Andrea Fisher
Director

Date approved: 28 August 2024
1
Accountants report
You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income Statement, Statement of Financial Position and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Dixon Gibbs Ltd
30 November 2023



....................................................
Dixon Gibbs Ltd
Suite 2, The Mintworks
124 Highgate
Kendal
Cumbria
LA9 4HE
28 August 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 218,691    182,679 
218,691    182,679 
Current assets      
Stocks 4 16,500    9,000 
Debtors 5 157,736    173,033 
Cash at bank and in hand 60,046    56,006 
234,282    238,039 
Creditors: amount falling due within one year 6 (341,638)   (372,873)
Net current assets (107,356)   (134,834)
 
Total assets less current liabilities 111,335    47,845 
Creditors: amount falling due after more than one year 7 (46,294)   (40,371)
Provisions for liabilities 8 (15,028)   (7,393)
Net assets 50,013    81 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 50,003    71 
Shareholders' funds 50,013    81 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 August 2024 and were signed on its behalf by:


-------------------------------
Ms Andrea Fisher
Director
3
General Information
ARNOLD DAIRIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06037821, registration address SECOND AVENUE GREASLEY STREET, BULWELL , NOTTINGHAM, NG6 8NE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders by the shareholders at an annual general meeting. Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 50 Years Straight Line
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 13 (2022 : 12).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 December 2022 208,863    151,738    292    360,893 
Additions   58,700      58,700 
Disposals   (15,500)     (15,500)
At 30 November 2023 208,863    194,938    292    404,093 
Depreciation
At 01 December 2022 65,092    112,922    200    178,214 
Charge for year 4,177    15,378    22    19,577 
On disposals   (12,389)     (12,389)
At 30 November 2023 69,269    115,911    222    185,402 
Net book values
Closing balance as at 30 November 2023 139,594    79,027    70    218,691 
Opening balance as at 01 December 2022 143,771    38,816    92    182,679 


4.

Stocks

2023
£
  2022
£
Stocks 16,500    9,000 
16,500    9,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 107,744    129,959 
Other Debtors 49,992    43,074 
157,736    173,033 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 249,292    304,959 
Bank Loans & Overdrafts (Secured) 11,084    14,343 
Bank Loans & Overdrafts 10,648    10,648 
Taxation & Social Security 13,189    11,362 
Other Creditors 43,188    31,561 
Obligations under HP/Financial Leases 14,237   
341,638    372,873 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured)   13,078 
Bank Loans & Overdrafts 17,514    27,293 
Obligations Under HP/Financial Leases 28,780   
46,294    40,371 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 15,028    7,393 
15,028    7,393 

9.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Arnold Dairies Pension Fund18,250 18,250 

Arnold Dairies Pension Fund - SSAS Pension Fund as part owner of premises - Balance b/f credit of £18,250. Charges for the current year made to company £18,250, payments made by company £18,250. Prepayments held by Pension fund £18,250. Closing Balance c/f credit of £18,250.
4