REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 27 May 2024 |
for |
Rawcliffes Foods Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 27 May 2024 |
for |
Rawcliffes Foods Limited |
Rawcliffes Foods Limited (Registered number: 05816582) |
Contents of the Financial Statements |
for the Year Ended 27 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Rawcliffes Foods Limited |
Company Information |
for the Year Ended 27 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Oriel House |
2-8 Oriel Road |
Bootle |
Liverpool |
Merseyside |
L20 7EP |
Rawcliffes Foods Limited (Registered number: 05816582) |
Balance Sheet |
27 May 2024 |
27.5.24 | 27.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
Rawcliffes Foods Limited (Registered number: 05816582) |
Balance Sheet - continued |
27 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Rawcliffes Foods Limited (Registered number: 05816582) |
Notes to the Financial Statements |
for the Year Ended 27 May 2024 |
1. | STATUTORY INFORMATION |
Rawcliffes Foods Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value of goods sold during the year, net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer. |
Tangible fixed assets |
Fixed assets are recognised at historical cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property | - 10% on reducing balance |
Plant and machinery | - 10% on reducing balance |
Motor vehicles | - 25% on reducing balance |
Computer equipment | - 33% on cost |
Taxation |
Taxation for the year 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 year 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Rawcliffes Foods Limited (Registered number: 05816582) |
Notes to the Financial Statements - continued |
for the Year Ended 27 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
Going concern |
The company meets its day to day working capital requirements from support from its director. No adjustments have been made to reflect the position if such support was withdrawn. This support is expected to continue for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 28 May 2023 |
Additions |
At 27 May 2024 |
DEPRECIATION |
At 28 May 2023 |
Charge for year |
At 27 May 2024 |
NET BOOK VALUE |
At 27 May 2024 |
At 27 May 2023 |
Rawcliffes Foods Limited (Registered number: 05816582) |
Notes to the Financial Statements - continued |
for the Year Ended 27 May 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 28 May 2023 |
Transfer to ownership | (32,001 | ) |
At 27 May 2024 |
DEPRECIATION |
At 28 May 2023 |
Charge for year |
Transfer to ownership | (13,104 | ) |
At 27 May 2024 |
NET BOOK VALUE |
At 27 May 2024 |
At 27 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.5.24 | 27.5.23 |
£ | £ |
Trade debtors |
Rawcliffes Food (Holdings) Ltd | 669,139 | 640,372 |
VAT |
Deferred tax asset |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.5.24 | 27.5.23 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
VAT | 29,643 | - |
Other creditors |
Directors' loan accounts | 375,166 | 431,046 |
Accrued expenses |
Rawcliffes Foods Limited (Registered number: 05816582) |
Notes to the Financial Statements - continued |
for the Year Ended 27 May 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
27.5.24 | 27.5.23 |
£ | £ |
Other loans - 2-5 years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
27.5.24 | 27.5.23 |
£ | £ |
Close Factoring Account | - | 31,151 |
Fixed and floating charge over the undertaking and all property and assets present and future. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 27.5.24 | 27.5.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Allotted and issued: |
Number: | Class: | Nominal | 27.5.24 | 27.5.23 |
value: | £ | £ |
"A" Shares | £1 | 8,000 | 8,000 |
These shares were partially paid for at the rate of 1p per share. |
10. | GOING CONCERN |
The director has considered the current and forecast financial position of the company. Having taken appropriate steps to consider the future trading he has concluded that with his continued support combined with that of their bankers and creditors that the company is a going concern. |