Wileigh Foods Ltd 12265862 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of the sourcing and supply of organic natural foods. Digita Accounts Production Advanced 6.30.9574.0 true true 12265862 2022-11-01 2023-10-31 12265862 2023-10-31 12265862 bus:OrdinaryShareClass1 2023-10-31 12265862 core:CurrentFinancialInstruments 2023-10-31 12265862 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12265862 core:Non-currentFinancialInstruments 2023-10-31 12265862 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 12265862 1 2023-10-31 12265862 bus:SmallEntities 2022-11-01 2023-10-31 12265862 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12265862 bus:FilletedAccounts 2022-11-01 2023-10-31 12265862 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12265862 bus:RegisteredOffice 2022-11-01 2023-10-31 12265862 bus:Director1 2022-11-01 2023-10-31 12265862 bus:Director2 2022-11-01 2023-10-31 12265862 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 12265862 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12265862 core:OtherRelatedParties 2022-11-01 2023-10-31 12265862 1 2022-11-01 2023-10-31 12265862 countries:EnglandWales 2022-11-01 2023-10-31 12265862 2021-11-01 2022-10-31 12265862 2022-10-31 12265862 bus:OrdinaryShareClass1 2022-10-31 12265862 core:CurrentFinancialInstruments 2022-10-31 12265862 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12265862 core:Non-currentFinancialInstruments 2022-10-31 12265862 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 12265862 1 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12265862

Wileigh Foods Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Wileigh Foods Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Wileigh Foods Ltd

Company Information

Directors

Mr Leigh James Andrew

Mr William Collinson

Registered office

33 Bury Old Road
Ramsbottom
Bury
BL0 0RY

Accountants

AMS Accountants Corporate Ltd
Chartered Accountant
Floor 2
9 Portland Street
Manchester
M1 3BE

 

Wileigh Foods Ltd

(Registration number: 12265862)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

-

951

Debtors

5

-

26

Cash at bank and in hand

 

6

165

 

6

1,142

Creditors: Amounts falling due within one year

6

(22,503)

(21,782)

Total assets less current liabilities

 

(22,497)

(20,640)

Creditors: Amounts falling due after more than one year

6

(20,487)

(20,072)

Net liabilities

 

(42,984)

(40,712)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(43,084)

(40,812)

Shareholders' deficit

 

(42,984)

(40,712)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 May 2025 and signed on its behalf by:
 

.........................................
Mr Leigh James Andrew
Director

 

Wileigh Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
33 Bury Old Road
Ramsbottom
Bury
BL0 0RY

These financial statements were authorised for issue by the Board on 15 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors continue to provide financial support to the company to ensure it meets its obligations as they fall due. On this basis the directors consider that it remains appropriate to prepare the accounts on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Wileigh Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Wileigh Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Stocks

2023
£

2022
£

Other inventories

-

951

5

Debtors

Current

2023
£

2022
£

Other debtors

-

26

 

-

26

 

Wileigh Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,125

5,125

Accruals and deferred income

 

2,040

1,320

Other creditors

 

15,338

15,337

 

22,503

21,782

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

20,487

20,072

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

20,487

20,072

Current loans and borrowings

2023
£

2022
£

Bank borrowings

5,125

5,125

Bank borrowings

 

Wileigh Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Bounce Back Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 4 November 2026. The carrying amount at year end is £25,612 (2022 - £25,197).

The loan has been provided to assist with the effects of the Covid-19 pandemic, received in November 2020. The loan is repayable over 6 years and interest is charged at 2.5% per annum for the duration of the loan.

9

Related party transactions

 

Wileigh Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

-

6,240

Summary of transactions with other related parties

During the year the company received funds totalling £0 from and had expenses paid on behalf of the company totallling £0 from L Retail Ltd, a company under the control of Mr L Andrew one of the directors. At the balance sheet date the company owed L Retail Ltd £7,403 (2022 £7,403) this amount is included within other creditors and is repayable on demand.