Company Registration No. 08810059 (England and Wales)
MARY BERRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
PAGES FOR FILING WITH REGISTRAR
MARY BERRY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
MARY BERRY LIMITED
BALANCE SHEET
AS AT
30 JUNE 2021
30 June 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
1,354,226
1,187,521
Current assets
Debtors
4
301,572
303,819
Cash at bank and in hand
133,978
161,544
435,550
465,363
Creditors: amounts falling due within one year
Taxation and social security
158
Other creditors
5
376,917
376,167
376,917
376,325
Net current assets
58,633
89,038
Total assets less current liabilities
1,412,859
1,276,559
Provisions for liabilities
(38,901)
(2,258)
Net assets
1,373,958
1,274,301
Capital and reserves
Called up share capital
26,000
26,000
Other reserves
117,000
9,625
Profit and loss reserves
1,230,958
1,238,676
Total equity
1,373,958
1,274,301
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MARY BERRY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2021
30 June 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 December 2021 and are signed on its behalf by:
M R A Hunnings
Director
Company Registration No. 08810059
MARY BERRY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2021
- 3 -
Share capital
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2019
26,000
1,448,781
1,474,781
Year ended 30 June 2020:
Profit and total comprehensive income for the year
-
-
7,520
7,520
Dividends
-
-
(208,000)
(208,000)
Transfers
-
9,625
(9,625)
-
Balance at 30 June 2020
26,000
9,625
1,238,676
1,274,301
Year ended 30 June 2021:
Profit and total comprehensive income for the year
-
-
99,657
99,657
Transfers
-
107,375
(107,375)
-
Balance at 30 June 2021
26,000
117,000
1,230,958
1,373,958
MARY BERRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
- 4 -
1
Accounting policies
Company information
Mary Berry Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have considered the effect of the Covid-19 outbreak.
Although t
he directors
consider that the outbreak
has caused some disruption to the company’s business to date, the directors consider that a prolonged outbreak is likely to cause further disruption. They are confident that the company can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The directors have a reasonable expectation that the company has adequate resources and will support the company to continue in operation for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Listed investments are investments in equity instruments, debt and other financial instruments, other than investments in associates, that are traded on a market and in respect of which a quoted price is available. These investments are revalued at year-end based on their market price.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets
and
include cash in hand, deposits held at call with banks.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method 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.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
MARY BERRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including
creditors
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
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
There were no employees during the current and comparative year.
2021
2020
Number
Number
Total
MARY BERRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 6 -
3
Fixed asset investments
2021
2020
£
£
Other investments other than loans
1,354,226
1,187,521
1,354,226
1,187,521
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 July 2020
1,187,521
Additions
787,310
Valuation changes
134,447
Disposals
(755,052)
At 30 June 2021
1,354,226
Carrying amount
At 30 June 2021
1,354,226
At 30 June 2020
1,187,521
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
296,531
298,778
Prepayments and accrued income
5,041
5,041
301,572
303,819
5
Other creditors falling due within one year
2021
2020
£
£
Other creditors
366,143
366,143
Accruals and deferred income
10,774
10,024
376,917
376,167
Included in the other creditor is an amount of £328,938 (20
20
- £
328,938
) owed to company under common control.
MARY BERRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 7 -
6
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2021
2020
Balances:
£
£
Investments
38,901
2,258
2021
Movements in the year:
£
Liability at 1 July 2020
2,258
Charge to profit or loss
36,643
Liability at 30 June 2021
38,901