Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01317355 2023-02-01 2024-01-31 01317355 2022-02-01 2023-01-31 01317355 2024-01-31 01317355 2023-01-31 01317355 c:Director1 2023-02-01 2024-01-31 01317355 c:Director2 2023-02-01 2024-01-31 01317355 d:CurrentFinancialInstruments 2024-01-31 01317355 d:CurrentFinancialInstruments 2023-01-31 01317355 d:Non-currentFinancialInstruments 2024-01-31 01317355 d:Non-currentFinancialInstruments 2023-01-31 01317355 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 01317355 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01317355 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 01317355 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01317355 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 01317355 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 01317355 d:ShareCapital 2024-01-31 01317355 d:ShareCapital 2023-01-31 01317355 d:RetainedEarningsAccumulatedLosses 2024-01-31 01317355 d:RetainedEarningsAccumulatedLosses 2023-01-31 01317355 c:OrdinaryShareClass1 2023-02-01 2024-01-31 01317355 c:OrdinaryShareClass1 2024-01-31 01317355 c:OrdinaryShareClass1 2023-01-31 01317355 c:FRS102 2023-02-01 2024-01-31 01317355 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 01317355 c:FullAccounts 2023-02-01 2024-01-31 01317355 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01317355 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01317355









MID NORFOLK CANNERS LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024







































 
MID NORFOLK CANNERS LIMITED
REGISTERED NUMBER: 01317355

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
-
2,997

Debtors: amounts falling due after more than one year
 5 
1,644,097
1,135,884

Debtors: amounts falling due within one year
 5 
-
220,308

Cash at bank and in hand
 6 
420,275
553,692

  
2,064,372
1,912,881

Creditors: amounts falling due within one year
 7 
(53,620)
(25,912)

Net current assets
  
 
 
2,010,752
 
 
1,886,969

Total assets less current liabilities
  
2,010,752
1,886,969

Creditors: amounts falling due after more than one year
 8 
(18,252)
(28,330)

  

Net assets
  
1,992,500
1,858,639

Page 1

 
MID NORFOLK CANNERS LIMITED
REGISTERED NUMBER: 01317355
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
 10 
5,000
5,000

Profit and loss account
  
1,987,500
1,853,639

  
1,992,500
1,858,639


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C L Griffin
P S Griffin
Director
Director


Date: 30 October 2024


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MID NORFOLK CANNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales, registered number 01317355. The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St. Edmunds, Suffolk, IP32 7GY. 
The principal activity of Mid Norfolk Canners Limited is repackaging services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MID NORFOLK CANNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
MID NORFOLK CANNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Stocks

2024
2023
£
£

Raw materials and consumables
-
2,997



5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
1,644,097
1,135,884


2024
2023
£
£

Due within one year

Trade debtors
-
220,308



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
420,275
553,692


Page 5

 
MID NORFOLK CANNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,077
9,829

Corporation tax
42,341
10,208

Accruals and deferred income
1,202
5,875

53,620
25,912



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
18,252
28,330



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,077
9,829

Amounts falling due 1-2 years

Bank loans
18,252
28,330



28,329
38,159


Bank loans are secured.


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,000 (2023 - 5,000) Ordinary shares of £1.00 each
5,000
5,000


Page 6

 
MID NORFOLK CANNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Related party transactions

During the year the company incurred the following charges form its parent company:-


2024
2023
£
£

Management charges
25,000
30,000
Hire of equipment
2,375
2,850
Labour recharges
234,787
407,102
262,162
439,952

 
Page 7