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Registered Number: 02038655
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2024

for

POTATO MANUFACTURING SCIENCE LIMITED

Directors Michael Swann
Elisabeth Swann
Alexander Swann
Michelle Swann
Registered Number 02038655
Registered Office Whyncrest Bridlington Road
Hunmanby
Filey
North Yorkshire
YO14 9RS
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 756,027    756,491 
756,027    756,491 
Current assets      
Debtors 4 3,458,464    3,438,464 
Cash at bank and in hand 47,581    90,834 
3,506,045    3,529,298 
Creditors: amount falling due within one year 5 (667,176)   (655,981)
Net current assets 2,838,869    2,873,317 
 
Total assets less current liabilities 3,594,896    3,629,808 
Provisions for liabilities 6 (198)   (117)
Net assets 3,594,698    3,629,691 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 3,594,696    3,629,689 
Shareholders' funds 3,594,698    3,629,691 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 April 2025 and were signed on its behalf by:


-------------------------------
Michael Swann
Director
2
General Information
Potato Manufacturing Science Limited is a private company, limited by shares, registered in England and Wales, registration number 02038655, registration address Whyncrest Bridlington Road , Hunmanby , Filey, North Yorkshire, YO14 9RS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Straight Line
Fixtures and Fittings 10% Straight Line
Computer Equipment 25% Straight Line
Plant and Machinery 10% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Plant and Machinery   Total
  £   £   £   £   £
At 01 August 2023 745,861    13,346    13,519    33,429    806,155 
Additions        
Disposals        
At 31 July 2024 745,861    13,346    13,519    33,429    806,155 
Depreciation
At 01 August 2023   13,346    2,890    33,428    49,664 
Charge for year     464      464 
On disposals        
At 31 July 2024   13,346    3,354    33,428    50,128 
Net book values
Closing balance as at 31 July 2024 745,861      10,165    1    756,027 
Opening balance as at 01 August 2023 745,861      10,629    1    756,491 

The net book value of Plant and Machinery includes £ 1 (2023 £1) in respect of assets leased under finance leases or hire purchase contracts.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 160,600    140,600 
Other Debtors 3,267,300    3,267,300 
Corporation Tax 30,564    30,564 
3,458,464    3,438,464 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 365,174    370,521 
PAYE & Social Security 1,915    1,783 
Accrued Expenses 3,750    3,750 
Other Creditors 296,192    276,831 
Wages & Salaries Control Account (831)  
VAT 976    3,096 
667,176    655,981 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 116    117 
Charged to Profit & Loss  
Pension Provisions 82   
198    117 

3