Company Registration No. 8962823 (England and Wales)
Fresh & Local Limited
Unaudited accounts
for the year ended 31 March 2020
Fresh & Local Limited
Unaudited accounts
Contents
Fresh & Local Limited
Statement of financial position
as at
31 March 2020
Tangible assets
2,560
3,199
Inventories
19,270
16,120
Cash at bank and in hand
3,480
8,229
Creditors: amounts falling due within one year
(5,257)
(11,777)
Net current assets
17,493
12,572
Called up share capital
100
100
Profit and loss account
19,953
15,671
Shareholders' funds
20,053
15,771
For the year ending 31 March 2020 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 December 2020 and were signed on its behalf by
P S Kooner
Director
Company Registration No. 8962823
Fresh & Local Limited
Notes to the Accounts
for the year ended 31 March 2020
Fresh & Local Limited is a private company, limited by shares, registered in England and Wales, registration number 8962823. The registered office is 53 COOPERS ROAD, BIRMINGHAM, B20 2JU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on the reducing balance.
Stocks and work-in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.
Fresh & Local Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Finished goods
19,270
16,120
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
-
4,871
Taxes and social security
3,984
3,158
Loans from directors
322
2,761
7
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan Account
2,761
-
2,439
322
9
Average number of employees
During the year the average number of employees was 2 (2019: 2).