Company Registration No. 12616797 (England and Wales)
MyFreshCo Limited
Unaudited accounts
for the year ended 31 May 2024
MyFreshCo Limited
Statement of financial position
as at 31 May 2024
Tangible assets
133,024
65,213
Cash at bank and in hand
11,633
8,502
Creditors: amounts falling due within one year
(298,687)
(212,635)
Net current liabilities
(130,800)
(143,083)
Total assets less current liabilities
2,224
(77,870)
Creditors: amounts falling due after more than one year
(68,205)
-
Net liabilities
(65,981)
(77,870)
Called up share capital
33
33
Profit and loss account
(66,014)
(77,903)
Shareholders' funds
(65,981)
(77,870)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by
Rishwant Bhinder
Director
Company Registration No. 12616797
MyFreshCo Limited
Notes to the Accounts
for the year ended 31 May 2024
MyFreshCo Limited is a private company, limited by shares, registered in England and Wales, registration number 12616797. The registered office is Unit Y4 Claybrook Court, Herald Way, Binley Industrial Estate, Coventry, CV3 2NY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
10% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
MyFreshCo Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
59,816
45,325
105,141
Disposals
-
(7,400)
(7,400)
At 31 May 2024
59,816
135,710
195,526
At 1 June 2023
21,798
18,130
39,928
Charge for the year
11,963
13,571
25,534
On disposals
-
(2,960)
(2,960)
At 31 May 2024
33,761
28,741
62,502
At 31 May 2024
26,055
106,969
133,024
At 31 May 2023
38,018
27,195
65,213
Amounts falling due within one year
Trade debtors
97,430
54,496
Accrued income and prepayments
12,570
-
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
18,275
-
Trade creditors
88,505
75,541
Taxes and social security
4,400
425
Other creditors
67,073
22,591
Loans from directors
119,434
114,078
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
56,259
-
MyFreshCo Limited
Notes to the Accounts
for the year ended 31 May 2024
Amount due to Rishwant Bhinder at the year is £112,529 (2023: £99,439)
Amount due to Harsharan Bhinder at the year is £6,905 (2023: £4,000)
9
Average number of employees
During the year the average number of employees was 8 (2023: 6).