Foodcare Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03575941 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Foodcare Systems Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr Barry Martin Wells

Mr Joseph Barry Wells

Ms Amy Popp

REGISTERED OFFICE:

1 North Lynn Business Village

Bergen Way

King's Lynn

Norfolk

PE30 2JG

REGISTERED NUMBER:

03575941 (England and Wales)

ACCOUNTANTS:

Steve Pye & Co.

Chartered Certified Accountants

Unit 3

North Lynn Business Village

Bergen Way

King's Lynn

Norfolk

PE30 2JG

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Foodcare Systems Ltd for the year ended 31 March 2019 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Foodcare Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Foodcare Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Foodcare Systems Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Foodcare Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Foodcare Systems Ltd. You consider that Foodcare Systems Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Foodcare Systems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Steve Pye & Co.

Chartered Certified Accountants

Unit 3

North Lynn Business Village

Bergen Way

King's Lynn

Norfolk

PE30 2JG

12 December 2019

FIXED ASSETS

Tangible assets

4

85,997

19,233

CURRENT ASSETS

Stocks

94,269

84,004

Debtors

5

209,211

259,613

Cash at bank

28,777

17,605

332,257

361,222

CREDITORS

Amounts falling due within one year

6

287,348

260,380

NET CURRENT ASSETS

44,909

100,842

TOTAL ASSETS LESS CURRENT LIABILITIES

130,906

120,075

PROVISIONS FOR LIABILITIES

15,932

3,847

NET ASSETS

114,974

116,228

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Revaluation reserve

7

64,268

-

Retained earnings

30,706

96,228

114,974

116,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 12 December 2019 and were signed on its behalf by:

Mr Barry Martin Wells - Director

1.	STATUTORY INFORMATION

Foodcare Systems Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and property leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Website costs

-

25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Land and

property

Plant and

Motor

Website

leasehold

machinery

vehicles

costs

Totals

£

£

£

£

£

COST

At 1 April 2018

4,296

170,232

11,705

-

186,233

Additions

-

7,091

-

-

7,091

Revaluation

-

14,811

456

49,000

64,267

At 31 March 2019

4,296

192,134

12,161

49,000

257,591

DEPRECIATION

At 1 April 2018

1,720

162,841

2,439

-

167,000

Charge for year

430

1,848

2,316

-

4,594

At 31 March 2019

2,150

164,689

4,755

-

171,594

NET BOOK VALUE

At 31 March 2019

2,146

27,445

7,406

49,000

85,997

At 31 March 2018

2,576

7,391

9,266

-

19,233

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

145,112

145,527

Other debtors

3,304

5,533

148,416

151,060

2019

2018

£

£

Amounts falling due after more than one year:

Amounts owed by participating interests

60,795

108,553

Aggregate amounts

209,211

259,613

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

HSBC credit card

1,611

1,422

Trade creditors

214,352

207,220

Taxation and social security

23,783

20,548

Other creditors

47,602

31,190

287,348

260,380

7.

RESERVES

Revaluation

reserve

£

Asset revaluations

64,268

At 31 March 2019

64,268