Company registration number 08924611 (England and Wales)
Makins Soft Fruit Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Makins Soft Fruit Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Makins Soft Fruit Ltd
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
343,910
407,983
Current assets
Stocks
187,046
234,274
Debtors
1,888,344
1,660,680
Cash at bank and in hand
100,152
45,853
2,175,542
1,940,807
Creditors: amounts falling due within one year
(224,043)
(45,664)
Net current assets
1,951,499
1,895,143
Total assets less current liabilities
2,295,409
2,303,126
Creditors: amounts falling due after more than one year
(11,390)
(38,235)
Provisions for liabilities
(85,977)
(65,817)
Net assets
2,198,042
2,199,074
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
2,197,042
2,198,074
Total equity
2,198,042
2,199,074
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Makins Soft Fruit Ltd
Statement of financial position (continued)
as at 31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
C Makin
A Makin-Jones
Director
Director
Company Registration No. 08924611
Makins Soft Fruit Ltd
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% straight line
Computers
20% straight line
Motor vehicles
25% straight line
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Makins Soft Fruit Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2024
1
Accounting policies
(continued)
- 4 -
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
33
19
3
Tangible fixed assets
Total
£
Cost
At 1 April 2023
518,489
Additions
33,629
At 31 March 2024
552,118
Depreciation and impairment
At 1 April 2023
110,506
Depreciation charged in the year
97,702
At 31 March 2024
208,208
Carrying amount
At 31 March 2024
343,910
At 31 March 2023
407,983
4
Company information
Makins Soft Fruit Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Sturton Grange, Ridge Road, Micklefield, Leeds, West Yorkshire, LS25 4DZ.