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Filleted

Registration number: 07995312

Blasus Delicatessen Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Blasus Delicatessen Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Blasus Delicatessen Limited

Company Information

Directors

Mr P A Robles

Miss D A McGreevy

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Blasus Delicatessen Limited

(Registration number: 07995312)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

7,949

8,942

Tangible assets

6

1,704

1,488

 

9,653

10,430

Current assets

 

Stocks

7

11,360

9,440

Debtors

8

8,078

10,293

Cash at bank and in hand

 

3,722

1,985

 

23,160

21,718

Creditors: Amounts falling due within one year

9

(21,315)

(24,559)

Net current assets/(liabilities)

 

1,845

(2,841)

Net assets

 

11,498

7,589

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

11,496

7,587

Total equity

 

11,498

7,589

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
Mr P A Robles
Director

.........................................
Miss D A McGreevy
Director

 
     
 

Blasus Delicatessen Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
58 King Street
Carmarthen
SA31 1BB

These financial statements were authorised for issue by the Board on 18 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blasus Delicatessen Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Equipment

15% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Blasus Delicatessen Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

515

598

Amortisation expense

993

991

 

Blasus Delicatessen Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

19,865

19,865

At 31 March 2024

19,865

19,865

Amortisation

At 1 April 2023

10,923

10,923

Amortisation charge

993

993

At 31 March 2024

11,916

11,916

Carrying amount

At 31 March 2024

7,949

7,949

At 31 March 2023

8,942

8,942

Revalued assets for the year ended 31 March 2023

6

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

10,188

10,188

Additions

730

730

At 31 March 2024

10,918

10,918

Depreciation

At 1 April 2023

8,700

8,700

Charge for the year

514

514

At 31 March 2024

9,214

9,214

Carrying amount

At 31 March 2024

1,704

1,704

At 31 March 2023

1,488

1,488

7

Stocks

2024
£

2023
£

Other inventories

11,360

9,440

 

Blasus Delicatessen Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

62

-

Amounts owed by related parties

12

6,719

8,539

Other debtors

 

1,297

1,754

 

8,078

10,293

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

11

7,231

9,658

Trade creditors

 

10,424

12,371

Taxation and social security

 

501

364

Outstanding defined contribution pension costs

 

331

224

Other creditors

 

2,828

1,942

 

21,315

24,559

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         
 

Blasus Delicatessen Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

11

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

7,231

9,658

12

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Other payments made to company by director
£

At 31 March 2024
£

Mr P A Robles

Interest free loan repayable post year end

4,270

(910)

3,360

-

-

-

 

4,270

(910)

3,360

     

Miss D A McGreevy

Interest free loan repayable post year end

4,270

(910)

3,360

-

-

-

 

4,270

(910)

3,360

     

 

2023

At 1 April 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2023
£

Mr P A Robles

Interest free loan repayable post year end

4,280

200

(210)

4,270

-

-

-

-

 

4,280

200

(210)

4,270

       

Miss D A McGreevy

Interest free loan repayable post year end

4,280

200

(210)

4,270

-

-

-

-

 

4,280

200

(210)

4,270