Company Registration No. 8657009 (England and Wales)
Pickle & Rye Incorporated Ltd
Unaudited accounts
for the year ended 31 December 2023
Pickle & Rye Incorporated Ltd
Unaudited accounts
Contents
Pickle & Rye Incorporated Ltd
Company Information
for the year ended 31 December 2023
Directors
Alex Minor
Valerie Lynn Minor
Company Number
8657009 (England and Wales)
Registered Office
29 Blackwood Close
West Byfleet
Surrey
KT14 6PP
United Kingdom
Accountants
Golding & Co Accounting Services Limited
29 Blackwood Close
West Byfleet
Surrey
KT14 6PP
Pickle & Rye Incorporated Ltd
Statement of financial position
as at 31 December 2023
Intangible assets
12,250
13,250
Tangible assets
109,131
125,945
Cash at bank and in hand
3,302
6,267
Creditors: amounts falling due within one year
(67,965)
(68,898)
Net current liabilities
(48,166)
(48,243)
Total assets less current liabilities
73,215
90,952
Creditors: amounts falling due after more than one year
(44,413)
(51,813)
Called up share capital
137
137
Share premium
24,963
24,963
Profit and loss account
3,702
14,039
Shareholders' funds
28,802
39,139
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 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 2 October 2024 and were signed on its behalf by
Alex Minor
Director
Company Registration No. 8657009
Pickle & Rye Incorporated Ltd
Notes to the Accounts
for the year ended 31 December 2023
Pickle & Rye Incorporated Ltd is a private company, limited by shares, registered in England and Wales, registration number 8657009. The registered office is 29 Blackwood Close, West Byfleet, Surrey, KT14 6PP, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. The estimated useful lives of the assets are reviewed on an annual basis and depreciation rates adjusted in order to write off the assets over the expected useful lives as follows:
Plant & machinery
10% Straight Line - prior year 25% Straight Line
Fixtures & fittings
15% Straight Line - prior year 20% Straight Line
Computer equipment
33% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Intangible fixed assets (including purchased goodwill and patents) are included at cost.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not provided for.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pickle & Rye Incorporated Ltd
Notes to the Accounts
for the year ended 31 December 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
At 31 December 2023
15,000
At 31 December 2023
12,250
At 31 December 2022
13,250
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
79,713
40,131
36,596
5,999
162,439
At 31 December 2023
79,713
40,131
36,596
5,999
162,439
At 1 January 2023
8,502
13,135
12,199
2,658
36,494
Charge for the year
5,314
4,013
5,489
1,998
16,814
At 31 December 2023
13,816
17,148
17,688
4,656
53,308
At 31 December 2023
65,897
22,983
18,908
1,343
109,131
At 31 December 2022
71,211
26,996
24,397
3,341
125,945
Amounts falling due within one year
Other debtors
10,589
8,560
Pickle & Rye Incorporated Ltd
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,605
8,170
Trade creditors
7,955
6,956
Taxes and social security
17,786
10,807
Other creditors
8,659
5,078
Loans from directors
7,134
20,391
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Creditors: amounts falling due after more than one year
2023
2022
Other creditors
3,251
8,329
Bounce back loan received on 12 May 2020 in the amount of £50,000. First year charges and interest borne by the UK government, thereafter interest bearing at 2.5% per annum and repayable over a 9 year term. This loan is unsecured.
Unsecured third party loan received on 1 September 2021 in the amount of £20,000. The loan bears interest at 2.5% per annum and repayable over a 4 year term.
Allotted, called up and fully paid:
10,000 A shares of £0.01 each
100.00
100.00
3,699 B Shares of £0.01 each
36.99
36.99
10
Average number of employees
During the year the average number of employees was 36 (2022: 32).