Totally Delicious Ltd Company accounts

COMPANY REGISTRATION NUMBER: 06438832

Totally Delicious Ltd

Unaudited Financial Statements

31 August 2018

Totally Delicious Ltd

Financial Statements

Year ended 31 August 2018

Contents	Pages

Officers and professional advisers	1

Directors' report	2

Statement of income and retained earnings	3

Statement of financial position	4 to 5

Notes to the financial statements	6 to 9

Totally Delicious Ltd

Officers and Professional Advisers

The board of directors	D R Bowers
	Mr RJ Crossland

Company secretary	D R Bowers

Registered office	Unit 15c
	Whitebridge House
	Whitebridge Industrial Estate
	Stone
	Staffordshire
	ST15 8LQ

Bankers	National Westminster
	Granville Square
	Stone
	Staffordshire
	ST15 8AE

Totally Delicious Ltd

Directors' Report

Year ended 31 August 2018

The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2018 .

Directors

The directors who served the company during the year were as follows:

D R Bowers
Mr RJ Crossland

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 20 November 2018 and signed on behalf of the board by:

D R Bowers

Company Secretary

Registered office:

Unit 15c

Whitebridge House

Whitebridge Industrial Estate

Stone

Staffordshire

ST15 8LQ

Totally Delicious Ltd

Statement of Income and Retained Earnings

Year ended 31 August 2018

	2018	2017
Note	£	£
Turnover	4,169,367	4,136,379

Cost of sales	3,192,888	3,446,750
	------------	------------
Gross profit	976,479	689,629

Administrative expenses	903,173	962,476
	---------	---------
Operating profit/(loss)	73,306	( 272,847)

Interest payable and similar expenses		69,558	48,772
		---------	---------
Profit/(loss) before taxation	5	3,748	( 321,619)

Tax on profit/(loss)	–	–
	-------	---------
Profit/(loss) for the financial year and total comprehensive income	3,748	( 321,619)
	-------	---------

Retained (losses)/earnings at the start of the year	( 165,003)	156,616
	---------	---------
Retained losses at the end of the year	( 161,255)	( 165,003)
	---------	---------

All the activities of the company are from continuing operations.

Totally Delicious Ltd

Statement of Financial Position

31 August 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	6		1,590,803	1,425,962

Current assets

Stocks		115,000	119,128
Debtors	7	118,797	150,071
Cash at bank and in hand		235,757	182,378
		---------	---------
		469,554	451,577

Creditors: amounts falling due within one year	8	1,555,175		1,087,487
		------------		------------
Net current liabilities			1,085,621	635,910
			------------	------------
Total assets less current liabilities			505,182	790,052

Creditors: amounts falling due after more than one year	9		692,523	981,141

Provisions

Taxation including deferred tax	( 26,286)	( 26,286)
	---------	---------
Net liabilities	( 161,055)	( 164,803)
	---------	---------

Totally Delicious Ltd

Statement of Financial Position (continued)

31 August 2018

	2018		2017
Note	£	£	£

Capital and reserves

Called up share capital	200	200
Profit and loss account	( 161,255)	( 165,003)
	---------	---------
Shareholders deficit	( 161,055)	( 164,803)
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 November 2018 , and are signed on behalf of the board by:

D R Bowers
Director

Company registration number: 06438832

Totally Delicious Ltd

Notes to the Financial Statements

Year ended 31 August 2018

1. General information

The accounts have been prepared on a going concern basis .The directors will continue to support the company personally.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Additions to landlords premises	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	20% reducing balance
Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

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 entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 186 (2017: 124 ).

5. Profit before taxation

Profit/(loss) before taxation is stated after charging:

	2018	2017
	£	£
Depreciation of tangible assets	134,816	68,787
	---------	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 September 2017	952,176	589,042	83,767	63,956	1,688,941
Additions	110,534	11,661	172,921	4,541	299,657
	------------	---------	---------	--------	------------
At 31 August 2018	1,062,710	600,703	256,688	68,497	1,988,598
	------------	---------	---------	--------	------------
Depreciation
At 1 September 2017	30,969	153,378	48,338	30,294	262,979
Charge for the year	21,254	66,598	33,336	13,628	134,816
	------------	---------	---------	--------	------------
At 31 August 2018	52,223	219,976	81,674	43,922	397,795
	------------	---------	---------	--------	------------
Carrying amount
At 31 August 2018	1,010,487	380,727	175,014	24,575	1,590,803
	------------	---------	---------	--------	------------
At 31 August 2017	921,207	435,664	35,429	33,662	1,425,962
	------------	---------	---------	--------	------------

7. Debtors

	2018	2017
	£	£
Trade debtors	99,819	138,741
Other debtors	18,978	11,330
	---------	---------
	118,797	150,071
	---------	---------

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	331,465	463,423
Social security and other taxes	374,528	141,753
Other creditors	849,182	482,311
	------------	------------
	1,555,175	1,087,487
	------------	------------

9. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Other creditors	692,523	981,141
	---------	---------

10. Directors' advances, credits and guarantees

Included in other creditors is £1,5181 (2017 £1,581) due to D R Bowers and £412,084 (2017 £130,000) due to R Crossland, directors of the company.

11. Related party transactions

The company was under the control of Mr D R Bowers throughout the current and previous year.

12. Controlling party

The ultimate parent company is The Great People Group Ltd who owns 100% of the company's share capital. Included in other creditors is £540,978 (2017 £540,978) due to this company.