Mrs Unis Spicy Foods Limited - Accounts to registrar (filleted) - small 18.2
Mrs Unis Spicy Foods Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Mrs Unis Spicy Foods Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2021 |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 10 |
| Mrs Unis Spicy Foods Limited |
| Company Information |
| for the Year Ended 31 January 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 9 Ainslie Place |
| Edinburgh |
| Midlothian |
| EH3 6AT |
| BANKERS: |
| PO Box 1000 |
| BX2 1LB |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Balance Sheet |
| 31 January 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Balance Sheet - continued |
| 31 January 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2021 |
| 1. | STATUTORY INFORMATION |
| Mrs Unis Spicy Foods Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover and revenue recognition |
| Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the goods are supplied to the customer. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 1999, has been amortised evenly over its estimated useful life of ten years. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Government grants |
| Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. |
| Financial instruments |
| Financial instruments comprise financial assets and financial liabilities which are recognised when the company becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial. |
| Financial assets at cost comprise cash, amounts owed by related parties and accrued income. Financial liabilities comprise trade creditors, accruals and amounts owed to related parties. |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Factored debts |
| Debts are factored on a full recourse basis. The total amount due from debtors is shown under trade debtors within current assets and the amount due to the factors is shown within current liabilities. The factor's charges are shown as an expense in the profit and loss account. |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future. The directors will continue to support the company and are confident of the continued support of the bank and other creditors. |
| The management have assessed the company's current and future trading position and are of the opinion that it will, with the ongoing support of its creditors and bankers, continue to trade for the foreseeable future. |
| Based on this assessment, the management consider that it is appropriate to present the financial statements on the going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 February 2020 |
| and 31 January 2021 |
| AMORTISATION |
| At 1 February 2020 |
| and 31 January 2021 |
| NET BOOK VALUE |
| At 31 January 2021 |
| At 31 January 2020 |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2020 |
| Additions |
| At 31 January 2021 |
| DEPRECIATION |
| At 1 February 2020 |
| Charge for year |
| At 31 January 2021 |
| NET BOOK VALUE |
| At 31 January 2021 |
| At 31 January 2020 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 February 2020 |
| and 31 January 2021 |
| DEPRECIATION |
| At 1 February 2020 |
| Charge for year |
| At 31 January 2021 |
| NET BOOK VALUE |
| At 31 January 2021 |
| At 31 January 2020 |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Included in other creditors is the directors' current account balance of £112,524 (2020: £110,039). The balance is interest free and repayable on demand. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2021 | 2020 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Mrs Unis Spicy Foods Limited (Registered number: SC177704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2021 |
| 9. | LEASING AGREEMENTS - continued |
| Non-cancellable | operating leases |
| 2021 | 2020 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| Lloyds TSB Commercial Finance Limited hold a bond and floating charge over the assets of the company. |
| The bank also holds a personal guarantee of £35,000 from two of the directors, Mr & Mrs Unis that was discharged at Companies House post year end in June 2021. |
| Mrs Unis Spicy Foods Limited |
| Report of the Accountants to the Directors of |
| Mrs Unis Spicy Foods Limited |
| 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. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2021 set out on pages nil to nil and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| 9 Ainslie Place |
| Edinburgh |
| Midlothian |
| EH3 6AT |