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Unaudited Financial Statements for the Year Ended 28 February 2019 |
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Naked Foods Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2019 |
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for |
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Naked Foods Limited |
Naked Foods Limited (Registered number: 03924935) |
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Contents of the Financial Statements |
for the year ended 28 February 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Naked Foods Limited |
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Company Information |
for the year ended 28 February 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANT: |
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C7-C8 |
Spectrum Business Centre |
Anthony's Way |
Rochester |
Kent |
ME2 4NP |
Naked Foods Limited (Registered number: 03924935) |
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Balance Sheet |
28 February 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
Naked Foods Limited (Registered number: 03924935) |
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Balance Sheet - continued |
28 February 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Naked Foods Limited (Registered number: 03924935) |
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Notes to the Financial Statements |
for the year ended 28 February 2019 |
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1. | STATUTORY INFORMATION |
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Naked Foods Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Naked Foods Limited (Registered number: 03924935) |
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Notes to the Financial Statements - continued |
for the year ended 28 February 2019 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 March 2018 |
and 28 February 2019 |
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AMORTISATION |
At 1 March 2018 |
and 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2018 |
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Additions |
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At 28 February 2019 |
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DEPRECIATION |
At 1 March 2018 |
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Charge for year |
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At 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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Naked Foods Limited (Registered number: 03924935) |
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Notes to the Financial Statements - continued |
for the year ended 28 February 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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Kent Food Parks Limited, a company under common control is guarantor for the loan from Handelsbanken for |
the sum of £500,000. |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 28 February 2019 and |
28 February 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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11. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company was owed £541,453 (2018: £540,821) by Fresh Start Limited a company |
controlled by Mr B. Burman. During the year the company paid expenses of £632. |
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During the year the company paid rent of £66,000 (2018: £66,000) to Kent Food Parks Limited, a company |
controlled by Mr B Burman. It also recharged the interest incurred on a loan of £500,000 which was facilitated |
on on behalf of Kent Food Parks Limited. At the balance sheet date the company was owed £484,791 (2018: |
£532,853). |
Naked Foods Limited (Registered number: 03924935) |
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Notes to the Financial Statements - continued |
for the year ended 28 February 2019 |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is B Burman. |