Registered number
08768012
Rite Bites Limited
Filleted Accounts
30 November 2023
Rite Bites Limited
Registered number: 08768012
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 22,102 19,251
Current assets
Stocks 5,245 10,423
Debtors 4 104,502 63,503
Cash at bank and in hand 60,899 47,647
170,646 121,573
Creditors: amounts falling due within one year 5 (100,697) (44,632)
Net current assets 69,949 76,941
Total assets less current liabilities 92,051 96,192
Creditors: amounts falling due after more than one year 6 (16,990) (24,536)
Net assets 75,061 71,656
Capital and reserves
Called up share capital 1 1
Profit and loss account 75,060 71,655
Shareholder's funds 75,061 71,656
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Abraham Benedikt
Approved by the board on 19 November 2024
Rite Bites Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 5,050 43,268 48,318
Additions - 7,113 7,113
At 30 November 2023 5,050 50,381 55,431
Depreciation
At 1 December 2022 - 29,067 29,067
Charge for the year - 4,262 4,262
At 30 November 2023 - 33,329 33,329
Net book value
At 30 November 2023 5,050 17,052 22,102
At 30 November 2022 5,050 14,201 19,251
4 Debtors 2023 2022
£ £
Trade debtors 68,050 53,223
Other debtors 36,452 10,280
104,502 63,503
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 42,355 6,365
Taxation and social security costs 14,554 17,815
Other creditors 35,214 15,360
Payroll liabilities 8,574 5,092
100,697 44,632
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,990 24,536
7 Other information
Rite Bites Limited is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
Rite Bites Limited 08768012 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts July 2024 Abraham Benedikt No description of principal activity 08768012 2021-12-01 2022-11-30 08768012 core:WithinOneYear 2022-11-30 08768012 core:AfterOneYear 2022-11-30 08768012 core:ShareCapital 2022-11-30 08768012 core:RetainedEarningsAccumulatedLosses 2022-11-30 08768012 2022-12-01 2023-11-30 08768012 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08768012 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08768012 bus:Director40 2022-12-01 2023-11-30 08768012 1 2022-12-01 2023-11-30 08768012 2 2022-12-01 2023-11-30 08768012 core:LandBuildings 2022-12-01 2023-11-30 08768012 core:PlantMachinery 2022-12-01 2023-11-30 08768012 countries:England 2022-12-01 2023-11-30 08768012 bus:FRS102 2022-12-01 2023-11-30 08768012 bus:FilletedAccounts 2022-12-01 2023-11-30 08768012 2023-11-30 08768012 core:WithinOneYear 2023-11-30 08768012 core:AfterOneYear 2023-11-30 08768012 core:ShareCapital 2023-11-30 08768012 core:RetainedEarningsAccumulatedLosses 2023-11-30 08768012 core:LandBuildings 2023-11-30 08768012 core:PlantMachinery 2023-11-30 08768012 2022-11-30 08768012 core:LandBuildings 2022-11-30 08768012 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure