11 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 250,402 25,802 28,605 247,599 145,149 22,226 24,605 142,770 104,829 105,253 xbrli:pure xbrli:shares iso4217:GBP 03804672 2023-08-01 2024-07-31 03804672 2024-07-31 03804672 2023-07-31 03804672 2022-08-01 2023-07-31 03804672 2023-07-31 03804672 2022-07-31 03804672 bus:Director2 2023-08-01 2024-07-31 03804672 core:PlantMachinery 2023-07-31 03804672 core:PlantMachinery 2024-07-31 03804672 core:PlantMachinery 2023-08-01 2024-07-31 03804672 core:WithinOneYear 2024-07-31 03804672 core:WithinOneYear 2023-07-31 03804672 core:AfterOneYear 2024-07-31 03804672 core:AfterOneYear 2023-07-31 03804672 core:ShareCapital 2024-07-31 03804672 core:ShareCapital 2023-07-31 03804672 core:RetainedEarningsAccumulatedLosses 2024-07-31 03804672 core:RetainedEarningsAccumulatedLosses 2023-07-31 03804672 core:BetweenOneFiveYears 2024-07-31 03804672 core:BetweenOneFiveYears 2023-07-31 03804672 core:PlantMachinery 2023-07-31 03804672 bus:SmallEntities 2023-08-01 2024-07-31 03804672 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03804672 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03804672 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03804672 bus:FullAccounts 2023-08-01 2024-07-31 03804672 core:AfterOneYear 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: 03804672
Golden Sunrise Foods Limited
Unaudited financial statements
31 July 2024
Golden Sunrise Foods Limited
Statement of financial position
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
104,829
105,253
Current assets
Stocks
470,471
224,648
Debtors
6
253,572
303,847
Cash at bank and in hand
5,520
2,760
---------
---------
729,563
531,255
Creditors: Amounts falling due within one year
7
( 770,232)
( 506,827)
---------
---------
Net current (liabilities)/assets
( 40,669)
24,428
---------
---------
Total assets less current liabilities
64,160
129,681
Creditors: Amounts falling due after more than one year
8
( 8,975)
( 27,846)
Provisions
Taxation including deferred tax
( 26,208)
( 26,314)
-------
---------
Net assets
28,977
75,521
-------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
28,877
75,421
-------
-------
Shareholders funds
28,977
75,521
-------
-------
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 July 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 .
Golden Sunrise Foods Limited
Statement of financial position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
W T Appleby
Director
Company registration number: 03804672
Golden Sunrise Foods Limited
Notes to the financial statements
Year ended 31 July 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 The Gables, Old Market Street, Thetford, Norfolk, IP24 2EN. The company's trading address during the year was Unit 39 East Coast Business Park, Clenchwarton Road, West Lynn, Kings Lynn, PE34 3LW.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Taxation
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 & Machinery
-
15% - 33% reducing balance
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.
Finance leases and hire purchase contracts
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 11 (2023: 9 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 August 2023
250,402
250,402
Additions
25,802
25,802
Disposals
( 28,605)
( 28,605)
---------
---------
At 31 July 2024
247,599
247,599
---------
---------
Depreciation
At 1 August 2023
145,149
145,149
Charge for the year
22,226
22,226
Disposals
( 24,605)
( 24,605)
---------
---------
At 31 July 2024
142,770
142,770
---------
---------
Carrying amount
At 31 July 2024
104,829
104,829
---------
---------
At 31 July 2023
105,253
105,253
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
209,672
222,545
Amounts owed by group undertakings and undertakings in which the company has a participating interest
66,435
Other debtors
43,900
14,867
---------
---------
253,572
303,847
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
47,044
79,747
Trade creditors
510,407
373,693
Social security and other taxes
42,964
10,388
Other creditors
169,817
42,999
---------
---------
770,232
506,827
---------
---------
Included in creditors are net obligations under hire purchase agreements and bank loans and overdrafts of £53,745 (2023: £94,922) which are secured on assets held by the company.
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,975
21,146
Other creditors
6,700
------
-------
8,975
27,846
------
-------
Included in creditors are net obligations under hire purchase agreements and bank loans of £8,975 (2023: £27,846) which are secured on the assets concerned.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
45,000
45,000
Later than 1 year and not later than 5 years
23,341
68,341
-------
---------
68,341
113,341
-------
---------