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REGISTERED NUMBER: 06112331 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PICNIC FOODS LTD

PICNIC FOODS LTD (REGISTERED NUMBER: 06112331)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance sheet 1

Notes to the financial statements 2


PICNIC FOODS LTD (REGISTERED NUMBER: 06112331)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 43,061 39,395

Current assets
Stocks 2,500 2,500
Debtors 5 11,850 10,618
Cash at bank 22,028 20,028
36,378 33,146
Creditors
Amounts falling due within one year 6 44,094 27,810
Net current (liabilities)/assets (7,716 ) 5,336
Total assets less current liabilities 35,345 44,731

Provisions for liabilities 8 9,473 7,485
Net assets 25,872 37,246

Capital and reserves
Called up share capital 9 103 103
Retained earnings 25,769 37,143
Shareholders' funds 25,872 37,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





Mr J Amery - Director


PICNIC FOODS LTD (REGISTERED NUMBER: 06112331)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. Statutory information

Picnic Foods Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06112331. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 5 Butter Market, Reading, Berkshire, RG1 2DP.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income generated from the supply of catering services both in house and also at outside events, net of VAT where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Government grants

PICNIC FOODS LTD (REGISTERED NUMBER: 06112331)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. Employees and directors

The average number of employees during the year was 14 (2023 - 12 ) .

4. Tangible fixed assets
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Cost
At 1 March 2023 5,166 47,158 29,294 1,052 82,670
Additions - 14,219 5,161 - 19,380
Disposals - (12,336 ) - - (12,336 )
At 29 February 2024 5,166 49,041 34,455 1,052 89,714
Depreciation
At 1 March 2023 5,166 24,656 12,692 761 43,275
Charge for year - 8,839 5,441 72 14,352
Eliminated on disposal - (10,974 ) - - (10,974 )
At 29 February 2024 5,166 22,521 18,133 833 46,653
Net book value
At 29 February 2024 - 26,520 16,322 219 43,061
At 28 February 2023 - 22,502 16,602 291 39,395

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 8,869 -
Prepayments and accrued income 2,981 10,618
11,850 10,618

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 576 -
Trade creditors 5,524 1,620
Tax 19,324 16,329
Social security and other taxes - 697
Pension 186 280
VAT 8,537 5,298
Directors' current accounts 6,952 591
Accruals and deferred income 2,995 2,995
44,094 27,810

PICNIC FOODS LTD (REGISTERED NUMBER: 06112331)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 30,000
Between one and five years 140,000 135,000
In more than five years 35,000 70,000
205,000 235,000

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 9,473 7,485

Deferred
tax
£   
Balance at 1 March 2023 7,485
Provided during year 1,988
Balance at 29 February 2024 9,473

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
2 Ordinary C £1 2 2
103 103

10. Ultimate controlling party

Mr J Amery owns 100% of the issued share capital with voting rights and is therefore deemed to have control of the company.