Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09773446 Mr S E Dye iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09773446 2022-12-31 09773446 2023-12-31 09773446 2023-01-01 2023-12-31 09773446 frs-core:CurrentFinancialInstruments 2023-12-31 09773446 frs-core:Non-currentFinancialInstruments 2023-12-31 09773446 frs-core:ComputerEquipment 2023-12-31 09773446 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09773446 frs-core:ComputerEquipment 2022-12-31 09773446 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 09773446 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09773446 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 09773446 frs-core:PlantMachinery 2023-12-31 09773446 frs-core:PlantMachinery 2023-01-01 2023-12-31 09773446 frs-core:PlantMachinery 2022-12-31 09773446 frs-core:ShareCapital 2023-12-31 09773446 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09773446 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09773446 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09773446 frs-bus:SmallEntities 2023-01-01 2023-12-31 09773446 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09773446 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09773446 frs-bus:Director1 2023-01-01 2023-12-31 09773446 frs-countries:EnglandWales 2023-01-01 2023-12-31 09773446 2021-12-31 09773446 2022-12-31 09773446 2022-01-01 2022-12-31 09773446 frs-core:CurrentFinancialInstruments 2022-12-31 09773446 frs-core:Non-currentFinancialInstruments 2022-12-31 09773446 frs-core:ShareCapital 2022-12-31 09773446 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 09773446
Norburys Fine Foods Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Steve Pye & Co.
Chartered Certified Accountants
3 North Lynn Bus. Village
Bergen Way, North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09773446
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 83,535 99,499
83,535 99,499
CURRENT ASSETS
Stocks 2,650 2,400
Cash at bank and in hand 14,060 2,034
16,710 4,434
Creditors: Amounts Falling Due Within One Year 5 (145,939 ) (184,327 )
NET CURRENT ASSETS (LIABILITIES) (129,229 ) (179,893 )
TOTAL ASSETS LESS CURRENT LIABILITIES (45,694 ) (80,394 )
Creditors: Amounts Falling Due After More Than One Year 6 (33,010 ) (34,978 )
NET LIABILITIES (78,704 ) (115,372 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (78,804 ) (115,472 )
SHAREHOLDERS' FUNDS (78,704) (115,372)
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 S E Dye
Director
26 September 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
Norburys Fine Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09773446 . The registered office is 55 High Street, King's Lynn, Norfolk, PE30 1BE.  The presentation currency of the financial statements is the Pound Sterling (£).
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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis which is dependant upon the continued support of the company's shareholder and director. The director is of the opinion that the support will continue over the next 12 months and therefore believes that it is appropriate for the financial statements to be prepared on the going concern basis.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.5. 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:
Improvements to leasehold property 10% on cost
Plant & Machinery 25% on reducing balance
Computer Equipment 25% on reducing balance
2.6. 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.
2.7. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
...CONTINUED
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2.7. Financial Instruments - continued
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 11)
14 11
4. Tangible Assets
Land & Property
Improvements to leasehold property Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 87,486 45,263 768 133,517
Additions - 180 - 180
As at 31 December 2023 87,486 45,443 768 133,697
...CONTINUED
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Page 5
Depreciation
As at 1 January 2023 17,496 16,282 240 34,018
Provided during the period 8,747 7,265 132 16,144
As at 31 December 2023 26,243 23,547 372 50,162
Net Book Value
As at 31 December 2023 61,243 21,896 396 83,535
As at 1 January 2023 69,990 28,981 528 99,499
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 14,793 32,543
Bank loans and overdrafts 16,522 36,970
Other creditors 59,423 76,946
Taxation and social security 55,201 37,868
145,939 184,327
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 33,010 34,978
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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