Golden Harvest Foods Ltd,Ltd - AccountsLtd - Accounts

Golden Harvest Foods Ltd,Ltd - AccountsLtd - Accounts

GOLDEN HARVEST FOODS LIMITED - Company Information

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2015-12-01 02867849 2016-11-30 02867849 2015-12-01 2016-11-30 02867849 uk-bus:RegisteredOffice 2015-12-01 2016-11-30 02867849 uk-bus:Director1 2015-12-01 2016-11-30 02867849 uk-bus:Director1 2016-11-30 02867849 uk-bus:CompanySecretary1 2015-12-01 2016-11-30 02867849 2015-11-30 02867849 2014-12-01 2015-11-30 02867849 uk-core:WithinOneYear 2015-11-30 02867849 uk-core:WithinOneYear 2016-11-30 02867849 uk-core:ShareCapital 2016-11-30 02867849 uk-core:ShareCapital 2015-11-30 02867849 uk-core:RetainedEarningsAccumulatedLosses 2016-11-30 02867849 uk-core:RetainedEarningsAccumulatedLosses 2015-11-30 02867849 uk-core:NetGoodwill 2015-12-01 2016-11-30 02867849 uk-core:Goodwill 2015-11-30 02867849 uk-core:Goodwill 2016-11-30 02867849 uk-core:ToolsEquipment 2015-11-30 02867849 uk-core:CommercialMotorVehicles 2015-11-30 02867849 uk-core:PlantMachinery 2015-11-30 02867849 uk-core:ToolsEquipment 2015-12-01 2016-11-30 02867849 uk-core:CommercialMotorVehicles 2015-12-01 2016-11-30 02867849 uk-core:PlantMachinery 2015-12-01 2016-11-30 02867849 uk-core:PlantMachinery 2016-11-30 02867849 uk-core:CommercialMotorVehicles 2016-11-30 02867849 uk-core:ToolsEquipment 2016-11-30 iso4217:GBP 02867849 uk-bus:AuditExemptWithAccountantsReport 2015-12-01 2016-11-30 02867849 uk-bus:FRS102 2015-12-01 2016-11-30 02867849 uk-bus:FullAccounts 2015-12-01 2016-11-30 02867849 uk-bus:PrivateLimitedCompanyLtd 2015-12-01 2016-11-30
Golden Harvest Foods Ltd
Registered Number:02867849
For the year ended 30 November 2016
England and Wales
Report of the Director and Unaudited Financial Statements
2
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Contents Page
Company Information
1
2
Director's Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6 to 7
Notes to the Financial Statements
3
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Company Information
John Downes
Director
Vickers Reynolds & Co (Stourbridge) Ltd
Company Secretary
02867849
Registered Number
'The Stables'
Registered Office
80 Dudley Road
Lye, Stourbridge
West Midlands
DY9 8EL
Vickers Reynolds & Co (Stourbridge) Ltd
Accountants
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4
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Director's Report
The director presents his report and accounts for the year ended 30 November 2016.
Principal activities
The principal activity of the company continued to be that of purchasing and re-sale of branded snack products.
Director
The director who served the company throughout the year was as follows:
John Downes
Vickers Reynolds & Co (Stourbridge) Ltd Secretary
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
06 July 2017
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5
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 30 November 2016 and you consider that the company is exempt from an audit under the
Companies Act 2006. 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.
Vickers Reynolds & Co (Stourbridge) Ltd
Date:
06 July 2017
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6
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Income Statement
2015
£
2016
£
Turnover
1,044,640
1,080,464
(390,145)
Cost of sales
(438,936)
690,319
Gross profit
605,704
Distribution costs
(82,266)
(80,199)
Administrative expenses
(350,148)
(342,402)
(432,414)
(422,601)
Operating profit
173,290
267,718
173,290
267,718
Profit before taxation
(28,070)
(54,121)
Taxation
145,220
Profit for the financial year
213,597
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7
As at 30 November 2016
Golden Harvest Foods Ltd
Statement of Financial Position
Registered Number :
02867849
£
£
2015
2016
Notes
Fixed assets
Intangible assets
10,000
10,000
2
Property, plant and equipment
271,444
238,505
3
281,444
248,505
Current assets
Inventories
22,014
20,989
Trade and other receivables
353,992
361,256
4
372,191
Cash and cash equivalents
463,366
845,611
748,197
Trade and other payables: amounts falling due within one
year
(281,727)
(334,860)
5
466,470
510,751
Net current assets
Total assets less current liabilities
792,195
714,975
792,195
Net assets
714,975
Capital and reserves
Called up share capital
2
2
Retained earnings
792,193
714,973
792,195
714,975
Shareholders' funds
For the year ended 30 November 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
John Downes
These financial statements were approved and authorised for issue by the Board on 06 July 2017 and were signed by:
The notes form part of these financial statements
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8
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Notes to the Financial Statements
Statutory Information
Golden Harvest Foods Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 02867849.
Registered address:
'The Stables'
80 Dudley Road
Lye, Stourbridge
West Midlands
DY9 8EL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 0 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 December 2015
10,000
At 30 November 2016
10,000
Net book value
At 30 November 2016
10,000
At 30 November 2015
10,000
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9
For the year ended 30 November 2016
Golden Harvest Foods Ltd
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 December 2015
288,578
450
24,853
263,275
39,187
-
-
39,187
Additions
At 30 November 2016
302,462
24,853
450
327,765
Provision for depreciation and impairment
At 01 December 2015
50,073
266
12,743
37,064
Charge for year
6,248
37
1,211
5,000
At 30 November 2016
56,321
303
13,954
42,064
At 30 November 2016
Net book value
260,398
10,899
147
271,444
At 30 November 2015
226,211
12,110
184
238,505
4. Trade and other receivables
2015
2016
£
£
Trade debtors
348,328
341,064
Other debtors
12,928
12,928
353,992
361,256
5. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Trade creditors
106,169
62,072
Taxation and social security
108,483
82,015
Other creditors
120,208
137,640
334,860
281,727
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