Company Registration No. 02300697 (England and Wales)
SUFFOLK FOODS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE 52 WEEK PERIOD ENDED 1 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
SUFFOLK FOODS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SUFFOLK FOODS LIMITED
BALANCE SHEET
AS AT
1 SEPTEMBER 2019
01 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
2
(567,966)
(567,966)
Net current liabilities
(567,966)
(567,966)
Capital and reserves
Called up share capital
3
105
105
Profit and loss reserves
(568,071)
(568,071)
Total equity
(567,966)
(567,966)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial 52 week period ended 1 September 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the 52 week period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 January 2020 and are signed on its behalf by:
L L R Whiteley
Director
Company Registration No. 02300697
SUFFOLK FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEK PERIOD ENDED 1 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
Suffolk Foods Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
2nd Floor, Cunard Building, Liverpool, Merseyside, L3 1EL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the 52 week period or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future receipts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
SUFFOLK FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 52 WEEK PERIOD ENDED 1 SEPTEMBER 2019
- 3 -
2
Creditors: amounts falling due within one year
2019
2018
£
£
Amounts owed to group undertakings
567,966
567,966
3
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
105 Ordinary shares of £1 each
105
105
4
Ultimate parent undertaking
The ultimate parent undertaking is Edward Billington and Son Limited, which is incorporated in England and Wales.