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Registered number: 11947872
Ginger and Pickles Group Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Mutu Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11947872
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,125 18,230
Tangible Assets 5 67,875 72,646
Investment Properties 6 362,456 362,456
442,456 453,332
CURRENT ASSETS
Stocks 7 2,747 13,800
Debtors 8 33,097 41,938
Cash at bank and in hand - 3,189
35,844 58,927
Creditors: Amounts Falling Due Within One Year 9 (212,692 ) (197,925 )
NET CURRENT ASSETS (LIABILITIES) (176,848 ) (138,998 )
TOTAL ASSETS LESS CURRENT LIABILITIES 265,608 314,334
Creditors: Amounts Falling Due After More Than One Year 10 (232,042 ) (232,293 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,897 ) (13,803 )
NET ASSETS 20,669 68,238
CAPITAL AND RESERVES
Called up share capital 11 110 110
Profit and Loss Account 20,559 68,128
SHAREHOLDERS' FUNDS 20,669 68,238
Page 1
Page 2
For the year ending 30 April 2024 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.
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
H Picken
Director
30/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ginger and Pickles Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11947872 . The registered office is 3a Mill Street , Nantwich , Cheshire, CW5 5ST.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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.
2.5. 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:
Leasehold No Depreciation
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment Over 3 years
2.6. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.7. 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.
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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.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 68 (2023: 62)
68 62
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 May 2023 30,000 12,545 42,545
As at 30 April 2024 30,000 12,545 42,545
Amortisation
As at 1 May 2023 24,000 315 24,315
Provided during the period 6,000 105 6,105
As at 30 April 2024 30,000 420 30,420
Net Book Value
As at 30 April 2024 - 12,125 12,125
As at 1 May 2023 6,000 12,230 18,230
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5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 21,803 9,222 86,193 6,161 123,379
Additions 1,069 - 13,598 - 14,667
As at 30 April 2024 22,872 9,222 99,791 6,161 138,046
Depreciation
As at 1 May 2023 - 3,650 42,538 4,545 50,733
Provided during the period - 2,498 15,548 1,392 19,438
As at 30 April 2024 - 6,148 58,086 5,937 70,171
Net Book Value
As at 30 April 2024 22,872 3,074 41,705 224 67,875
As at 1 May 2023 21,803 5,572 43,655 1,616 72,646
6. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 362,456
7. Stocks
2024 2023
£ £
Finished goods 2,747 13,800
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 2,201
Other debtors 33,097 39,737
33,097 41,938
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 31,007 37,975
Bank loans and overdrafts 41,688 40,713
Other creditors 73,934 71,806
Taxation and social security 66,063 47,431
212,692 197,925
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 231,230 231,481
Other creditors 812 812
232,042 232,293
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
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