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Registered number: 04157445
NPP Frozen Foods Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04157445
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 410,417 403,206
410,417 403,206
CURRENT ASSETS
Stocks 5 203,161 185,750
Debtors 6 491,806 477,952
Cash at bank and in hand 578,892 450,899
1,273,859 1,114,601
Creditors: Amounts Falling Due Within One Year 7 (535,166 ) (463,405 )
NET CURRENT ASSETS (LIABILITIES) 738,693 651,196
TOTAL ASSETS LESS CURRENT LIABILITIES 1,149,110 1,054,402
Creditors: Amounts Falling Due After More Than One Year 8 (25,075 ) (65,262 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (91,318 ) (92,858 )
NET ASSETS 1,032,717 896,282
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account 1,032,713 896,278
SHAREHOLDERS' FUNDS 1,032,717 896,282
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G J Pugh
Director
2 May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
NPP Frozen Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04157445 . The registered office is Unit 1 Pine Court, Walker Road, Coalville, Leicestershire, LE67 1SZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over lease term
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 20)
19 20
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 7,597 137,206 545,898 42,011 732,712
Additions - 1,685 95,245 - 96,930
Disposals - - (55,653 ) - (55,653 )
As at 31 August 2024 7,597 138,891 585,490 42,011 773,989
Depreciation
As at 1 September 2023 1,039 117,983 188,959 21,525 329,506
Provided during the period 152 4,135 71,385 4,098 79,770
Disposals - - (45,704 ) - (45,704 )
As at 31 August 2024 1,191 122,118 214,640 25,623 363,572
Net Book Value
As at 31 August 2024 6,406 16,773 370,850 16,388 410,417
As at 1 September 2023 6,558 19,223 356,939 20,486 403,206
5. Stocks
2024 2023
£ £
Stock 203,161 185,750
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,708 41,357
Prepayments and accrued income 37,311 30,338
Other debtors 630 3,000
Directors' loan accounts 22,000 10,000
97,649 84,695
Due after more than one year
Amounts owed by group undertakings 394,157 393,257
491,806 477,952
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,354 27,354
Trade creditors 296,662 262,612
Bank loans and overdrafts 12,833 79,233
Corporation tax 109,406 56,869
Other taxes and social security 8,440 7,775
VAT 76,004 24,690
Other creditors 4,467 4,872
535,166 463,405
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,075 52,429
Bank loans - 12,833
25,075 65,262
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 52,429 79,783
Bank loans and overdrafts 12,833 92,066
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 39,500 39,500
Later than one year and not later than five years 88,090 127,590
127,590 167,090
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Gavin Pugh 10,000 71,000 65,000 - 16,000
Mr Mark Pugh - 71,000 65,000 - 6,000
The above loan is unsecured, interest free and repayable on demand.
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