Picnic Foods Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06112331 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

PICNIC FOODS LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

40,496

43,061

Current assets

Stocks

2,500

Debtors

5

11,787

11,850

Cash at bank

24,672

22,028

38,959

36,378

Creditors

Amounts falling due within one year

6

69,524

44,094

Net current liabilities

(30,565

)

(7,716

)

Total assets less current liabilities

9,931

35,345

Provisions for liabilities

8

8,909

9,473

Net assets

1,022

25,872

Capital and reserves

Called up share capital

9

103

Retained earnings

919

25,769

Shareholders' funds

1,022

25,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

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.

The 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2025 and were signed by:

Mr J Amery - Director

1.	Statutory information

Picnic Foods Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06112331. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 5 Butter Market, Reading, Berkshire, RG1 2DP.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents income generated from the supply of catering services both in house and also at outside events, net of VAT where applicable.

Tangible fixed assets

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 cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 16 (2024 - 14 ) .

4.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

Cost

At 1 March 2024

5,166

49,041

34,455

1,052

89,714

Additions

-

2,499

9,880

-

12,379

Disposals

-

(2,817

)

(999

)

-

(3,816

)

At 28 February 2025

5,166

48,723

43,336

1,052

98,277

Depreciation

At 1 March 2024

5,166

22,521

18,133

833

46,653

Charge for year

-

7,034

6,410

55

13,499

Eliminated on disposal

-

(1,934

)

(437

)

-

(2,371

)

At 28 February 2025

5,166

27,621

24,106

888

57,781

Net book value

At 28 February 2025

-

21,102

19,230

164

40,496

At 29 February 2024

-

26,520

16,322

219

43,061

5.

Debtors: amounts falling due within one year

2025

2024

£

Other debtors

69

8,869

Prepayments and accrued income

11,718

2,981

11,787

11,850

6.

Creditors: amounts falling due within one year

2025

2024

£

Bank loans and overdrafts

-

576

Trade creditors

328

5,524

Tax

18,388

19,324

Social security and other taxes

2,326

-

Pension

506

186

VAT

9,160

8,537

Directors' current accounts

10,821

6,952

Accruals and deferred income

27,995

2,995

69,524

44,094

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

35,000

30,000

Between one and five years

140,000

In more than five years

-

35,000

175,000

205,000

8.	Provisions for liabilities

2025

2024

£

Deferred tax

8,909

9,473

Deferred

tax

£

Balance at 1 March 2024

9,473

Provided during year

(564

)

Balance at 28 February 2025

8,909

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary A

£1

100

1

Ordinary B

£1

1

2

Ordinary C

£1

2

103

10.	Ultimate controlling party

Mr J Amery owns 100% of the issued share capital with voting rights and is therefore deemed to have control of the company.