REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
HUNTER FOODS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
HUNTER FOODS LTD |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HUNTER FOODS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
17 George Street |
St Helens |
Merseyside |
WA10 1DB |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
ABRIDGED BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
ABRIDGED BALANCE SHEET - continued |
31 MAY 2024 |
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 |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Hunter Foods Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on sale of the goods. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisitions of the businesses, is being amortised evenly over its estimated useful life as follows; |
Sefton Street acquired 2012 - 9 years |
Belle Vale acquired 2012 - 9 years |
Aigburth Road acquired 2014 - 10 years |
Allerton Road acquired 2016 - 10 years |
Smithdown Road acquired 2016 - 10 years |
Frodsham acquired 2019 - 5 years |
Kerfoot Road acquired 2021 - 3 years |
Stockton Heath acquired 2021 - 1 year |
Upton Rocks acquired 2022 - 3 years |
Murray Road acquired 2022 - 6 years |
Dalton Road acquired 2022 - 12 years |
Lowther Street acquired 2022 - 5 years |
Dunmail Park acquired 2022 - 1 year |
Hindpool Retail Park acquired 2022 - 3 years |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Franchise costs |
Franchise costs, being the amounts paid in connection with the acquisitions of the businesses, are being amortised evenly over their estimated useful life as follows; |
Sefton Street acquired 2012 - 9 years |
Belle Vale acquired 2012 - 9 years |
Gateacre Park acquired 2014 - 10 years |
Sankey Hub acquired 2018 - 10 years |
Frodsham acquired 2019 - 5 years |
Halewood acquired 2019 - 8 years |
Kerfoot Road acquired 2021 -3 years |
Stockton Heath acquired 2021 - 1 year |
Upton Rocks acquired 2022 - 3 years |
Murray Road acquired 2022 - 6 years |
Dalton Road acquired 2022 - 12 years |
Lowther Street acquired 2022 - 5 years |
Dunmail Park acquired 2022 - 1 year |
Hindpool Retail Park acquired 2022 - 3 years |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Short leasehold property | - | 15% on reducing balance |
Equipment | - | 15% on reducing balance and over the period of the lease |
Fixtures and fittings | - | 15% on reducing balance |
Computer equipment | - | Straight line over 3 years |
Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss. |
Stocks |
Stocks are stated 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 stock to its present location and condition. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Hire purchase and leasing commitments |
Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts. |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
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 year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
AMORTISATION |
At 1 June 2023 |
Amortisation for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2024 | 2023 |
£ | £ |
Repayable by instalments |
Bank loans more than 5 years | 34,722 | - |
HUNTER FOODS LTD (REGISTERED NUMBER: 07956059) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Other loans |
Hire purchase contracts | - | 18,757 |
The bank loans are secured by a government EFG Scheme (75%) and by the personal guarantee of the director (25%). |
Other loans totalling £107,213 are secured by the personal guarantee of the director. |
Other loans totalling £473,000 are secured on specific personal assets owned by the director. |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 70,000 | 83,000 |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Provided during year | ( |
) |
Balance at 31 May 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £2 | 200 | 200 |