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Financial Statements |
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for the Year Ended 31 July 2020 |
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for |
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APPLIED NUTRITION LIMITED |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 July 2020 |
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for |
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APPLIED NUTRITION LIMITED |
APPLIED NUTRITION LIMITED (REGISTERED NUMBER: 09131749) |
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Contents of the Financial Statements |
for the year ended 31 July 2020 |
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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 | 3 |
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APPLIED NUTRITION LIMITED |
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Company Information |
for the year ended 31 July 2020 |
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Director: |
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Registered office: |
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Registered number: |
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Auditors: |
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Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
APPLIED NUTRITION LIMITED (REGISTERED NUMBER: 09131749) |
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Balance Sheet |
31 July 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
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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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves |
Called up share capital |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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APPLIED NUTRITION LIMITED (REGISTERED NUMBER: 09131749) |
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Notes to the Financial Statements |
for the year ended 31 July 2020 |
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1. | Statutory information |
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Applied Nutrition Limited is a
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis. The COVID-19 pandemic which arose in the second half of the year end resulted in the closure of many high street outlets and a consequent reduction in demand. However, as a significant proportion of turnover arises online this limited the affect on Applied Nutrition Limited. The directors have taken advantage of available government assistance to mitigate any impact of coronavirus. Given the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
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Turnover |
Turnover represents amounts chargeable, net of value added tax, in respect of the manufacture, wholesale and retail of sports nutritional products. |
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The company recognises revenue when the goods have been despatched to the customer. |
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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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Motor vehicles | - |
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Computer equipment | - |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use. |
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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. |
APPLIED NUTRITION LIMITED (REGISTERED NUMBER: 09131749) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2020 |
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3. | Accounting policies - continued |
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Financial instruments |
The company and group have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
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Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest method. |
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There are no assets which are initially measured at fair value. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies 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. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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4. | Employees and directors |
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The average number of employees during the year was
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APPLIED NUTRITION LIMITED (REGISTERED NUMBER: 09131749) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2020 |
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5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 August 2019 |
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Additions |
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Disposals | ( |
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At 31 July 2020 |
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Depreciation |
At 1 August 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 July 2020 |
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Net book value |
At 31 July 2020 |
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At 31 July 2019 |
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6. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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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 |
2020 | 2019 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 183,334 | - |
APPLIED NUTRITION LIMITED (REGISTERED NUMBER: 09131749) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2020 |
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9. | Secured debts |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank loans |
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The bank loan is secured by way of a fixed and floating charge over the assets of the company. |
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10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | Director's advances, credits and guarantees |
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The following advances and credits to a director subsisted during the years ended 31 July 2020 and 31 July 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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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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