52 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,026,645 941,289 29,868 971,157 55,488 85,356 1,100 1,100 1,100 xbrli:pure xbrli:shares iso4217:GBP 07670046 2023-04-01 2024-03-31 07670046 2024-03-31 07670046 2023-03-31 07670046 2022-04-01 2023-03-31 07670046 2023-03-31 07670046 2022-03-31 07670046 core:PlantMachinery 2023-04-01 2024-03-31 07670046 core:FurnitureFittings 2023-04-01 2024-03-31 07670046 core:MotorVehicles 2023-04-01 2024-03-31 07670046 bus:Director1 2023-04-01 2024-03-31 07670046 core:NetGoodwill 2023-03-31 07670046 core:NetGoodwill 2024-03-31 07670046 core:LandBuildings 2023-03-31 07670046 core:PlantMachinery 2023-03-31 07670046 core:FurnitureFittings 2023-03-31 07670046 core:MotorVehicles 2023-03-31 07670046 core:LandBuildings 2024-03-31 07670046 core:PlantMachinery 2024-03-31 07670046 core:FurnitureFittings 2024-03-31 07670046 core:MotorVehicles 2024-03-31 07670046 core:WithinOneYear 2024-03-31 07670046 core:WithinOneYear 2023-03-31 07670046 core:AfterOneYear 2024-03-31 07670046 core:AfterOneYear 2023-03-31 07670046 core:ShareCapital 2024-03-31 07670046 core:ShareCapital 2023-03-31 07670046 core:RetainedEarningsAccumulatedLosses 2024-03-31 07670046 core:RetainedEarningsAccumulatedLosses 2023-03-31 07670046 core:NetGoodwill 2023-04-01 2024-03-31 07670046 core:NetGoodwill 2023-03-31 07670046 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 07670046 core:Non-currentFinancialInstruments 2024-03-31 07670046 core:Non-currentFinancialInstruments 2023-03-31 07670046 core:LandBuildings 2023-03-31 07670046 core:PlantMachinery 2023-03-31 07670046 bus:SmallEntities 2023-04-01 2024-03-31 07670046 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07670046 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07670046 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07670046 bus:FullAccounts 2023-04-01 2024-03-31 07670046 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07670046
Plumbs Dairy Limited
Filleted Unaudited Financial Statements
31 March 2024
Plumbs Dairy Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
55,488
85,356
Tangible assets
6
521,286
519,320
Investments
7
1,100
1,100
---------
---------
577,874
605,776
Current assets
Stocks
43,235
21,395
Debtors
8
607,854
553,480
Cash at bank and in hand
29,197
82,965
---------
---------
680,286
657,840
Creditors: amounts falling due within one year
9
455,850
551,274
---------
---------
Net current assets
224,436
106,566
---------
---------
Total assets less current liabilities
802,310
712,342
Creditors: amounts falling due after more than one year
10
356,150
519,958
Provisions
Taxation including deferred tax
431
431
---------
---------
Net assets
445,729
191,953
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
445,629
191,853
---------
---------
Shareholders funds
445,729
191,953
---------
---------
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 income and retained earnings has not been delivered.
For the 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 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 .
Plumbs Dairy Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
J W Plumb Director
Company registration number: 07670046
Plumbs Dairy Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Reardon Suite, Ash House, Breckenwood Road, Fulbourn, Cambridge, Cambs, CB21 5DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% of cost per annum
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its 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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 52 (2023: 51 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
1,026,645
------------
Amortisation
At 1 April 2023
941,289
Charge for the year
29,868
------------
At 31 March 2024
971,157
------------
Carrying amount
At 31 March 2024
55,488
------------
At 31 March 2023
85,356
------------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
517,052
62,095
16,850
246,369
842,366
Additions
5,646
5,646
---------
--------
--------
---------
---------
At 31 March 2024
517,052
62,095
16,850
252,015
848,012
---------
--------
--------
---------
---------
Depreciation
At 1 April 2023
59,827
16,850
246,369
323,046
Charge for the year
2,268
1,412
3,680
---------
--------
--------
---------
---------
At 31 March 2024
62,095
16,850
247,781
326,726
---------
--------
--------
---------
---------
Carrying amount
At 31 March 2024
517,052
4,234
521,286
---------
--------
--------
---------
---------
At 31 March 2023
517,052
2,268
519,320
---------
--------
--------
---------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
1,100
-------
Impairment
At 1 April 2023 and 31 March 2024
-------
Carrying amount
At 31 March 2024
1,100
-------
At 31 March 2023
1,100
-------
8. Debtors
2024
2023
£
£
Trade debtors
247,343
242,058
Amounts owed by group undertakings and undertakings in which the company has a participating interest
251,227
281,836
Other debtors
109,284
29,586
---------
---------
607,854
553,480
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,809
26,333
Trade creditors
386,590
477,299
Corporation tax
9,690
9,690
Social security and other taxes
9,921
13,952
Other creditors
35,840
24,000
---------
---------
455,850
551,274
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
323,439
379,215
Other creditors
32,711
140,743
---------
---------
356,150
519,958
---------
---------
Included in other creditors is £669 (2023: £23,669) due to members of the director's family and £32,042(2023: £117,073) owed to the directors.
11. Related party transactions
The company was under the control of Mr and Mrs Justin Plumb, directors and shareholders.