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No description of principal activities is disclosed
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Company registration number:
06452016
SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Unaudited filleted financial statements
29 February 2024
SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Directors and other information
|
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Directors |
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Mr S Lee |
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Mrs C Lee |
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Company number |
06452016 |
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Registered office |
18 High Street |
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Aldridge |
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West Midlands |
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WS9 8LZ |
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Accountant |
J Pedley-Smith FCCA |
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38 Newick Avenue |
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Sutton Coldfield |
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West Midlands |
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B74 3DA |
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SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of SIMPLY DELICIOUS (ALDRIDGE) LIMITED for the year ended 29 February 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of SIMPLY DELICIOUS (ALDRIDGE) LIMITED, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of SIMPLY DELICIOUS (ALDRIDGE) LIMITED and state those matters that we have agreed to state to the board of directors of SIMPLY DELICIOUS (ALDRIDGE) LIMITED as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than SIMPLY DELICIOUS (ALDRIDGE) LIMITED and its board of directors as a body for my work or for this report.
It is your duty to ensure that SIMPLY DELICIOUS (ALDRIDGE) LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SIMPLY DELICIOUS (ALDRIDGE) LIMITED. You consider that SIMPLY DELICIOUS (ALDRIDGE) LIMITED is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of SIMPLY DELICIOUS (ALDRIDGE) LIMITED. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
J Pedley-Smith FCCA
Chartered Certified Accountant
38 Newick Avenue
Sutton Coldfield
West Midlands
B74 3DA
18 September 2024
SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Statement of financial position
29 February 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
11,192 |
|
|
|
12,825 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
11,192 |
|
|
|
12,825 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
18,109 |
|
|
|
18,158 |
|
|
Debtors |
|
6 |
3,352 |
|
|
|
4,832 |
|
|
Cash at bank and in hand |
|
|
9,874 |
|
|
|
7,043 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
31,335 |
|
|
|
30,033 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
49,451) |
|
|
|
(
48,281) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
18,116) |
|
|
|
(
18,248) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
6,924) |
|
|
|
(
5,423) |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
11,903) |
|
|
|
(
15,000) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
2,126) |
|
|
|
(
2,436) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
20,953) |
|
|
|
(
22,859) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
(
20,955) |
|
|
|
(
22,861) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
20,953) |
|
|
|
(
22,859) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
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|
For the year ending 29 February 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
18 September 2024
, and are signed on behalf of the board by:
Mr S Lee
Director
Company registration number:
06452016
SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Statement of changes in equity
Year ended 29 February 2024
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
At 1 March 2022 |
|
2 |
|
(
13,800) |
(
13,798) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
(
9,061) |
(
9,061) |
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|
|
|
|
|
|
_______ |
|
_______ |
_______ |
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|
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|
Total comprehensive income for the year |
|
- |
|
(
9,061) |
(
9,061) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
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_______ |
_______ |
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|
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At 28 February 2023 and 1 March 2023 |
|
2 |
|
(22,863) |
(22,861) |
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|
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|
|
|
|
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|
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|
|
|
|
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Profit/(loss) for the year |
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|
|
1,908 |
1,908 |
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|
|
|
|
|
|
_______ |
|
_______ |
_______ |
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|
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|
Total comprehensive income for the year |
|
- |
|
1,908 |
1,908 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
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|
At 29 February 2024 |
|
2 |
|
(
20,955) |
(
20,953) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
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SIMPLY DELICIOUS (ALDRIDGE) LIMITED
Notes to the financial statements
Year ended 29 February 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 18 High Street, Aldridge, West Midlands, WS9 8LZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
The Directors have continued to support the business financially during the year and consider that the business will be able to continue as a going concern.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated 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:
|
|
|
|
|
|
Short leasehold property |
- |
20 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2023:
11
).
5.
Tangible assets
|
|
Short leasehold property |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 March 2023 |
436 |
48,881 |
49,317 |
|
|
|
|
|
Additions |
- |
1,179 |
1,179 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 29 February 2024 |
436 |
50,060 |
50,496 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 March 2023 |
421 |
36,071 |
36,492 |
|
|
|
|
|
Charge for the year |
15 |
2,797 |
2,812 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 29 February 2024 |
436 |
38,868 |
39,304 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 29 February 2024 |
- |
11,192 |
11,192 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 28 February 2023 |
15 |
12,810 |
12,825 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other debtors |
|
3,352 |
4,832 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
6,000 |
6,000 |
|
Trade creditors |
|
10,361 |
9,916 |
|
Corporation tax |
|
758 |
- |
|
Social security and other taxes |
|
3,120 |
4,048 |
|
Other creditors |
|
29,212 |
28,317 |
|
|
|
_______ |
_______ |
|
|
|
49,451 |
48,281 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
11,903 |
15,000 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Creditors due after more than one year relate to the bounce back loan.The loan incurs interest at 2.5% and is being repaid over 60 monthly instalments.
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
2 |
|
2 |
|
2 |
|
2 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Operating leases
The operating lease expired on 30th April 2022. The property is now leased on a monthly rolling contract.
11.
Related party transactions
Other creditors includes loans made to the company from Directors amounting to £26,876 (2023: £26,425). These loans are interest free and repayable on demand.