Registered number
02625595
Winner Foods Limited
Filleted Accounts
31 July 2024
Winner Foods Limited
Registered number: 02625595
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 161,047 126,956
Investments 4 500,000 -
661,047 126,956
Current assets
Stocks 264,208 262,965
Debtors 5 436,803 455,226
Cash at bank and in hand 637,482 784,997
1,338,493 1,503,188
Creditors: amounts falling due within one year 6 (470,027) (453,552)
Net current assets 868,466 1,049,636
Total assets less current liabilities 1,529,513 1,176,592
Provisions for liabilities (40,262) (24,122)
Net assets 1,489,251 1,152,470
Capital and reserves
Called up share capital 1,050 1,050
Profit and loss account 1,488,201 1,151,420
Shareholders' funds 1,489,251 1,152,470
Number Number
Average number of employees 50 44
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
K F chan
Director
Approved by the board on 25 February 2025
Winner Foods Limited
Notes to the Accounts
for the year ended 31 July 2024
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 20% written down value
Motor vehicles 25% written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 50 44
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 671,504 113,285 784,789
Additions 30,741 61,801 92,542
Disposals - (45,135) (45,135)
At 31 July 2024 702,245 129,951 832,196
Depreciation
At 1 August 2023 581,812 76,021 657,833
Charge for the year 27,298 22,638 49,936
On disposals - (36,620) (36,620)
At 31 July 2024 609,110 62,039 671,149
Net book value
At 31 July 2024 93,135 67,912 161,047
At 31 July 2023 89,692 37,264 126,956
4 Investments
Other
investments
£
Cost
Additions 500,000
At 31 July 2024 500,000
5 Debtors 2024 2023
£ £
Trade debtors 381,683 342,350
Other debtors 26,575 87,876
Prepayments 28,545 25,000
436,803 455,226
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 23,379 34,028
Obligations under finance lease and hire purchase contracts 24,022 -
Trade creditors 204,885 159,015
Taxation and social security costs 209,057 239,394
Other creditors 8,684 21,115
470,027 453,552
7 Other information
Winner Foods Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit B
43-53 Markfield Road
London
N15 4QA
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