false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2018 - FRS 611,991 359,052 30,600 389,652 222,339 252,939 xbrli:pure xbrli:shares iso4217:GBP 05361610 2017-04-01 2018-03-31 05361610 2018-03-31 05361610 2017-03-31 05361610 2016-04-01 2017-03-31 05361610 2017-03-31 05361610 core:NetGoodwill 2017-04-01 2018-03-31 05361610 core:LandBuildings 2017-04-01 2018-03-31 05361610 core:PlantMachinery 2017-04-01 2018-03-31 05361610 core:FurnitureFittings 2017-04-01 2018-03-31 05361610 bus:Director1 2017-04-01 2018-03-31 05361610 core:NetGoodwill 2017-03-31 05361610 core:NetGoodwill 2018-03-31 05361610 core:LandBuildings 2017-03-31 05361610 core:PlantMachinery 2017-03-31 05361610 core:FurnitureFittings 2017-03-31 05361610 core:LandBuildings 2018-03-31 05361610 core:PlantMachinery 2018-03-31 05361610 core:FurnitureFittings 2018-03-31 05361610 core:WithinOneYear 2018-03-31 05361610 core:WithinOneYear 2017-03-31 05361610 core:AfterOneYear 2018-03-31 05361610 core:AfterOneYear 2017-03-31 05361610 core:LandBuildings core:OwnedOrFreeholdAssets 2018-03-31 05361610 core:LandBuildings core:OwnedOrFreeholdAssets 2017-03-31 05361610 core:RestatedAmount core:WithinOneYear 2017-03-31 05361610 core:ShareCapital 2018-03-31 05361610 core:ShareCapital 2017-03-31 05361610 core:RevaluationReserve 2018-03-31 05361610 core:RestatedAmount core:RevaluationReserve 2017-03-31 05361610 core:CapitalRedemptionReserve 2018-03-31 05361610 core:CapitalRedemptionReserve 2017-03-31 05361610 core:RetainedEarningsAccumulatedLosses 2018-03-31 05361610 core:RestatedAmount core:RetainedEarningsAccumulatedLosses 2017-03-31 05361610 core:RestatedAmount 2017-03-31 05361610 core:NetGoodwill 2017-03-31 05361610 core:LandBuildings 2017-03-31 05361610 core:PlantMachinery 2017-03-31 05361610 core:FurnitureFittings 2017-03-31 05361610 bus:SmallEntities 2017-04-01 2018-03-31 05361610 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 05361610 bus:FullAccounts 2017-04-01 2018-03-31 05361610 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 05361610 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 05361610 bus:Director1 2016-04-01 2017-03-31
COMPANY REGISTRATION NUMBER: 05361610
The Cambridge Food Company Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2018
The Cambridge Food Company Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
£
£
Fixed assets
Intangible assets
5
222,339
252,939
Tangible assets
6
1,404,981
760,956
------------
------------
1,627,320
1,013,895
Current assets
Stocks
168,104
137,690
Debtors
7
634,710
597,911
Cash at bank and in hand
78,408
75,898
---------
---------
881,222
811,499
Creditors: amounts falling due within one year
8
909,670
793,308
---------
---------
Net current (liabilities)/assets
( 28,448)
18,191
------------
------------
Total assets less current liabilities
1,598,872
1,032,086
Creditors: amounts falling due after more than one year
9
841,493
334,054
Provisions
Taxation including deferred tax
57,579
45,426
------------
------------
Net assets
699,800
652,606
------------
------------
Capital and reserves
Called up share capital
208,050
208,050
Revaluation reserve
304,025
227,260
Capital redemption reserve
12,045
12,045
Profit and loss account
175,680
205,251
---------
---------
Shareholders funds
699,800
652,606
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The Cambridge Food Company Limited
Statement of Financial Position (continued)
31 March 2018
For the year ending 31 March 2018 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 August 2018 , and are signed on behalf of the board by:
Mr M Hulme
Director
Company registration number: 05361610
The Cambridge Food Company Limited
Notes to the Financial Statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 64 Papworth Business Park, Atria Court, Stirling Way, Papworth Everard, Cambridge, CB23 3GY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents goods sold during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
2% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2017: 23 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2017 and 31 March 2018
611,991
---------
Amortisation
At 1 April 2017
359,052
Charge for the year
30,600
---------
At 31 March 2018
389,652
---------
Carrying amount
At 31 March 2018
222,339
---------
At 31 March 2017
252,939
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 April 2017
660,000
375,478
102,848
1,138,326
Additions
522,460
94,601
10,209
627,270
Revaluations
40,000
40,000
------------
---------
---------
------------
At 31 March 2018
1,222,460
470,079
113,057
1,805,596
------------
---------
---------
------------
Depreciation
At 1 April 2017
26,400
275,971
74,999
377,370
Charge for the year
17,554
37,119
8,172
62,845
Revaluations
( 39,600)
( 39,600)
------------
---------
---------
------------
At 31 March 2018
4,354
313,090
83,171
400,615
------------
---------
---------
------------
Carrying amount
At 31 March 2018
1,218,106
156,989
29,886
1,404,981
------------
---------
---------
------------
At 31 March 2017
633,600
99,507
27,849
760,956
------------
---------
---------
------------
Tangible assets held at valuation
The above land and buildings were revalued on 31 March 2018 to market value.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property
£
At 31 March 2018
Aggregate cost
988,007
Aggregate depreciation
(68,518)
---------
Carrying value
919,489
---------
At 31 March 2017
Aggregate cost
465,547
Aggregate depreciation
(59,207)
---------
Carrying value
406,340
---------
7. Debtors
2018
2017
£
£
Trade debtors
609,745
562,740
Other debtors
24,965
35,171
---------
---------
634,710
597,911
---------
---------
8. Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
31,523
14,840
Trade creditors
380,998
315,060
Social security and other taxes
60,023
74,758
Other creditors
437,126
388,650
---------
---------
909,670
793,308
---------
---------
Included within the liabilities disclosed above under other creditors is an amount of £38,233 (2017: £28,785) for which security over the assets to which the liability relates has been given.
Security in the form of a fixed and floating charge over the undertaking has been given in respect of the liabilities disclosed above under bank loans and overdrafts.
Security in the form of a fixed and floating charge over the undertaking has been given in respect of an amount of £384,293 (2017: £346,114) in respect of liabilities disclosed above under other creditors.
9. Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
765,668
305,092
Other creditors
75,825
28,962
---------
---------
841,493
334,054
---------
---------
Included within the liabilities disclosed above under other creditors is an amount of £86,175 (2017: £28,962) for which security over the assets to which the liability relates has been given.
Security in the form of a fixed and floating charge over the undertaking has been given in respect of the liabilities disclosed above under bank loans and overdrafts.
Included within creditors: amounts falling due after more than one year is an amount of £765,668 (2017: £241,332) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Directors' advances, credits and guarantees
During the year the company made advances to and received repayments from the directors. No interest had been charged.
2018 2017
£ £
Advances 10,278 420
Repayments 23,387 208

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