Big Blue Food Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08167295 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

BIG BLUE FOOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S S Duhra

Mrs R Duhra

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

08167295 (England and Wales)

FIXED ASSETS

Intangible assets

4

167,809

183,065

Tangible assets

5

44,662

9,625

212,471

192,690

CURRENT ASSETS

Stocks

6

7,632

4,359

Debtors

7

79,350

57,283

Cash at bank and in hand

30,700

30,497

117,682

92,139

CREDITORS

Amounts falling due within one year

8

37,530

35,384

NET CURRENT ASSETS

80,152

56,755

TOTAL ASSETS LESS CURRENT LIABILITIES

292,623

249,445

CREDITORS

Amounts falling due after more than one year

9

178,915

194,219

NET ASSETS

113,708

55,226

CAPITAL AND RESERVES

Called up share capital

11

800

800

Retained earnings

12

112,908

54,426

SHAREHOLDERS' FUNDS

113,708

55,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:

S S Duhra - Director

1.	STATUTORY INFORMATION

Big Blue Food Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 6 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2020

and 31 August 2021

305,108

AMORTISATION

At 1 September 2020

122,043

Amortisation for year

15,256

At 31 August 2021

137,299

NET BOOK VALUE

At 31 August 2021

167,809

At 31 August 2020

183,065

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2020

14,118

Additions

40,000

At 31 August 2021

54,118

DEPRECIATION

At 1 September 2020

4,493

Charge for year

4,963

At 31 August 2021

9,456

NET BOOK VALUE

At 31 August 2021

44,662

At 31 August 2020

9,625

6.

STOCKS

31/8/21

31/8/20

£

£

Stocks

7,632

4,359

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/21

31/8/20

£

£

Trade debtors

-

5,683

Other debtors

79,350

51,600

79,350

57,283

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/21

31/8/20

£

£

Trade creditors

5,188

5,817

Tax

27,336

18,145

Social security and other taxes

(100

)

(615

)

VAT

2,597

3,722

Pension Liability

120

62

Directors' current accounts

139

6,203

Accrued expenses

2,250

2,050

37,530

35,384

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/8/21

31/8/20

£

£

Bank loans (see note 10)

178,915

194,219

10.

LOANS

An analysis of the maturity of loans is given below:

31/8/21

31/8/20

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

129,748

144,219

Bank loan

49,167

50,000

178,915

194,219

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/21

31/8/20

value:

£

£

800

Ordinary

£1

800

800

12.

RESERVES

Retained

earnings

£

At 1 September 2020

54,426

Profit for the year

58,482

At 31 August 2021

112,908