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Registered number: 7466689
BSIP FOODS LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
GLOBAL ACCOUNTANT LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 7466689
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,520 11,520
11,520 11,520
CURRENT ASSETS
Stocks 6 102,419 100,419
Debtors 7 (153,548 ) (59,548 )
Cash at bank and in hand 130,185 79,329
79,056 120,200
Creditors: Amounts Falling Due Within One Year 8 (166,801 ) (202,477 )
NET CURRENT ASSETS (LIABILITIES) (87,745 ) (82,277 )
TOTAL ASSETS LESS CURRENT LIABILITIES (76,225 ) (70,757 )
Creditors: Amounts Falling Due After More Than One Year 9 (26,154 ) (36,154 )
NET LIABILITIES (102,379 ) (106,911 )
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account (102,383 ) (106,915 )
SHAREHOLDERS' FUNDS (102,379) (106,911)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr BIMALKUMAR SHAH
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BSIP FOODS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 7466689 . The registered office is 337, ATHLON ROAD, WEMBLEY, MIDDX, HA0 1EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25
Fixtures & Fittings 25
Computer Equipment 25
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 41 (2022: 41)
41 41
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 11,520
As at 31 December 2023 11,520
Net Book Value
As at 31 December 2023 11,520
As at 1 January 2023 11,520
Page 3
Page 4
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 15,000 151,218 166,218
As at 31 December 2023 15,000 151,218 166,218
Depreciation
As at 1 January 2023 15,000 151,218 166,218
As at 31 December 2023 15,000 151,218 166,218
Net Book Value
As at 31 December 2023 - - -
As at 1 January 2023 - - -
6. Stocks
2023 2022
£ £
Stock 102,419 100,419
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 25,692 25,692
PM PRESTIGE 7,000 7,000
BEC FOODS LTD LOAN 200 -
K & S FOOD LTD 800 -
BSIP WALTHAMSTOW LTD (4,740 ) (4,740 )
PB FOOD LTD LOAN (380,000 ) (380,000 )
BAPM NORBURY FOODS (140,000 ) (140,000 )
B MANANI LOAN - 40,000
Rent Deposit 107,500 37,500
(383,548 ) (414,548 )
Due after more than one year
RAISINS HILL -INVESTMENT 230,000 355,000
(153,548 ) (59,548 )
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 37,864 37,866
Corporation tax - (4,186 )
Other taxes and social security 17,285 20,046
VAT 22,309 26,686
Net wages 63,604 65,878
NEST-Control Accounts 2,876 3,324
Director's loan account 22,863 52,863
166,801 202,477
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 26,154 36,154
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
Page 5