2 false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 82,523 73,413 52,820 103,116 41,718 9,946 19,206 32,458 70,658 40,805 xbrli:pure xbrli:shares iso4217:GBP 07963592 2023-04-01 2024-03-31 07963592 2024-03-31 07963592 2023-03-31 07963592 2022-04-01 2023-03-31 07963592 2023-03-31 07963592 bus:Director1 2023-04-01 2024-03-31 07963592 core:WithinOneYear 2024-03-31 07963592 core:WithinOneYear 2023-03-31 07963592 core:AfterOneYear 2024-03-31 07963592 core:AfterOneYear 2023-03-31 07963592 core:ShareCapital 2024-03-31 07963592 core:ShareCapital 2023-03-31 07963592 core:RetainedEarningsAccumulatedLosses 2024-03-31 07963592 core:RetainedEarningsAccumulatedLosses 2023-03-31 07963592 bus:SmallEntities 2023-04-01 2024-03-31 07963592 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07963592 bus:FullAccounts 2023-04-01 2024-03-31 07963592 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07963592 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07963592 core:PlantMachinery 2023-04-01 2024-03-31 07963592 core:PlantMachinery 2023-03-31 07963592 core:PlantMachinery 2024-03-31
COMPANY REGISTRATION NUMBER: 07963592
R Potato Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
R Potato Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
70,658
40,805
Current assets
Debtors
6
882,793
607,344
Cash at bank and in hand
173,500
75,605
------------
---------
1,056,293
682,949
Creditors: amounts falling due within one year
7
789,071
483,048
------------
---------
Net current assets
267,222
199,901
---------
---------
Total assets less current liabilities
337,880
240,706
Creditors: amounts falling due after more than one year
8
15,834
25,833
Provisions
11,681
---------
---------
Net assets
310,365
214,873
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
310,265
214,773
---------
---------
Shareholders funds
310,365
214,873
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
R Potato Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mr R Pearson
Director
Company registration number: 07963592
R Potato Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lushington House, 119 High Street, Newmarket, Suffolk, CB8 9AE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2023
82,523
Additions
73,413
Disposals
( 52,820)
---------
At 31 March 2024
103,116
---------
Depreciation
At 1 April 2023
41,718
Charge for the year
9,946
Disposals
( 19,206)
---------
At 31 March 2024
32,458
---------
Carrying amount
At 31 March 2024
70,658
---------
At 31 March 2023
40,805
---------
6. Debtors
2024
2023
£
£
Trade debtors
875,455
604,556
Other debtors
7,338
2,788
---------
---------
882,793
607,344
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
702,117
439,239
Social security and other taxes
61,827
28,138
Other creditors
15,127
5,671
---------
---------
789,071
483,048
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,834
25,833
--------
--------