Company Registration No. 05227926 (England and Wales)
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Unaudited accounts
for the year ended 30 November 2023
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Unaudited accounts
Contents
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Company Information
for the year ended 30 November 2023
Director
Duncan Edward Catchpole
Company Number
05227926 (England and Wales)
Registered Office
PENN FARM STUDIOS
HARSTON ROAD HASLINGFIELD
CAMBRIDGE
CAMBRIDGESHIRE
CB23 1JZ
Accountants
Coles Accounting (Cambridge) Limited
Newton Hall
Town Street, Newton
Cambridge
Cambridgeshire
CB22 7ZE
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Statement of financial position
as at 30 November 2023
Intangible assets
24,000
-
Tangible assets
42,711
63,680
Cash at bank and in hand
2,125
871
Creditors: amounts falling due within one year
(114,665)
(114,105)
Net current liabilities
(37,900)
(4,400)
Total assets less current liabilities
28,811
59,280
Creditors: amounts falling due after more than one year
(19,907)
(29,922)
Called up share capital
100
100
Profit and loss account
8,804
29,258
Shareholders' funds
8,904
29,358
For the year ending 30 November 2023 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 1 February 2024 and were signed on its behalf by
Duncan Edward Catchpole
Director
Company Registration No. 05227926
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Notes to the Accounts
for the year ended 30 November 2023
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD is a private company, limited by shares, registered in England and Wales, registration number 05227926. The registered office is PENN FARM STUDIOS, HARSTON ROAD HASLINGFIELD, CAMBRIDGE, CAMBRIDGESHIRE, CB23 1JZ.
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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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Turnover from the rendering of services is recongised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
20% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Notes to the Accounts
for the year ended 30 November 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the seperable net assets. It was amortised over to the profit and loss account over its estimated economic life.
Website development costs incurred that meet the criteria for recognition as an intangible asset under FRS 102 are capitalised as an intangible asset when it is probable that the future economic benefits that are attributable to the asset will flow to the entity and the cost of the asset can be reliably measured.
Amortisation of website development costs will commence when the asset is available for use. The amortisation will be calculated on a straight line basis over the useful life of the website, which is deemed to be 10 years.
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Intangible fixed assets
Goodwill
Other
Total
At 1 December 2022
8,500
-
8,500
At 30 November 2023
8,500
24,000
32,500
At 1 December 2022
8,500
-
8,500
At 30 November 2023
8,500
-
8,500
At 30 November 2023
-
24,000
24,000
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2022
2,618
125,044
4,632
1,701
133,995
At 30 November 2023
2,618
125,044
4,632
1,701
133,995
At 1 December 2022
1,876
66,021
1,158
1,260
70,315
Charge for the year
655
18,730
1,158
426
20,969
At 30 November 2023
2,531
84,751
2,316
1,686
91,284
At 30 November 2023
87
40,293
2,316
15
42,711
At 30 November 2022
742
59,023
3,474
441
63,680
THE CAMBRIDGE ORGANIC FOOD COMPANY LTD
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Trade debtors
53,185
88,895
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,015
9,768
Trade creditors
91,702
95,997
Taxes and social security
3,057
2,504
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 26 (2022: 26).