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REGISTERED NUMBER: NI676058 (Northern Ireland)















Unaudited Financial Statements

for the Period 1 March 2023 to 27 February 2024

for

Summer Garden Foods Ltd

Summer Garden Foods Ltd (Registered number: NI676058)






Contents of the Financial Statements
for the Period 1 March 2023 to 27 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Summer Garden Foods Ltd

Company Information
for the Period 1 March 2023 to 27 February 2024







DIRECTOR: P Maguire





REGISTERED OFFICE: Unit 27 Dungannon Ent Centre
2 Coalisland Road
Dungannon
BT71 6JT





REGISTERED NUMBER: NI676058 (Northern Ireland)





ACCOUNTANTS: ASC Wylie UBU Ltd
Qualified Accountants, Tax & Business Advisors
7 Lisburn Street
Royal Hillsborough
Co. Down
BT26 6AB

Summer Garden Foods Ltd (Registered number: NI676058)

Balance Sheet
27 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,116 68,470

CURRENT ASSETS
Stocks 124,500 116,000
Debtors 5 188,091 72,705
Cash at bank and in hand 5,200 3,187
317,791 191,892
CREDITORS
Amounts falling due within one year 6 343,936 268,172
NET CURRENT LIABILITIES (26,145 ) (76,280 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,971

(7,810

)

CREDITORS
Amounts falling due after more than one
year

7

22,497

37,450
NET ASSETS/(LIABILITIES) 32,474 (45,260 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 32,473 (45,261 )
32,474 (45,260 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Summer Garden Foods Ltd (Registered number: NI676058)

Balance Sheet - continued
27 February 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 December 2024 and were signed by:





P Maguire - Director


Summer Garden Foods Ltd (Registered number: NI676058)

Notes to the Financial Statements
for the Period 1 March 2023 to 27 February 2024

1. STATUTORY INFORMATION

Summer Garden Foods Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Summer Garden Foods Ltd (Registered number: NI676058)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 27 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 36,594 61,782 98,376
Additions - 30,384 30,384
At 27 February 2024 36,594 92,166 128,760
DEPRECIATION
At 1 March 2023 2,928 26,978 29,906
Charge for period 1,463 16,275 17,738
At 27 February 2024 4,391 43,253 47,644
NET BOOK VALUE
At 27 February 2024 32,203 48,913 81,116
At 28 February 2023 33,666 34,804 68,470

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 180,735 66,940
Other debtors 7,356 5,765
188,091 72,705

Summer Garden Foods Ltd (Registered number: NI676058)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 27 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,333 8,333
Hire purchase contracts 4,950 5,400
Trade creditors 115,580 85,116
Taxation and social security 4,159 563
Other creditors 210,914 168,760
343,936 268,172

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 22,497 32,500
Hire purchase contracts - 4,950
22,497 37,450

8. GOING CONCERN

The accounts have been prepared on the going concern basis despite the negative position shown on the balance sheet. The directors are satisfied that the company is able to meet its debts as they fall due.