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REGISTERED NUMBER: 06544656 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 December 2022

for

Ambala Foods Limited

Ambala Foods Limited (Registered number: 06544656)






Contents of the Financial Statements
for the Year Ended 30 December 2022




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


Ambala Foods Limited

Company Information
for the Year Ended 30 December 2022







DIRECTORS: Mr A Khan
Miss M P Gordon





SECRETARY: Miss M P Gordon





REGISTERED OFFICE: 1 Watchmead
Welwyn Garden City
Hertfordshire
AL7 1LT





REGISTERED NUMBER: 06544656 (England and Wales)





AUDITORS: Godfrey Laws & Co Limited
Statutory Auditors
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Ambala Foods Limited (Registered number: 06544656)

Strategic Report
for the Year Ended 30 December 2022

Principal Activity

The principal activity of the company in the year was that of production and sale of Asian confectionery and savoury brands focused primarily in the UK.

Results and business review

The company operates in a specialist market and competes with only a few competitors. Ambala is well known for the excellent quality and range of its products on offer online or in store. The product offering varies from delicious after-dinner desserts to exotic confectioneries.

The Company's objective is to deliver the choicest, the tastiest and the widest possible range of our food products, with quality and freshness seconds to none, to our customers at home and abroad. Ambala's position as the nation's premier Asian confectioner was established and remains so to this day, with an ever-increasing number of customers among the British, European and American public.

The results for the year and financial position at the end of the year are as shown in these financial statements.

Turnover has been gradually recovering from the impact of Covid-19 related shutdown. Total turnover for the current year is £12,252k (2021 : £11,238) which represents increase by 9% (2021 : 49%).

Operating profit was £273k (2021 : £1,018k), equivalent to 2.2% of turnover (2021 : 9.1%).

Principal risks and uncertainties

The company is exposed to a number of risks and uncertainties. The directors have reviewed the risk of global economic slowdown, risk of another pandemic and general trading and business risks. The directors believe that the management has taken appropriate approach to counteract and mitigate the risks and uncertainties.

Future development

The directors believe that the company is in a strong strategic position to utilize resources and expand market share delivering the very best products to the customers as per the company motto.

ON BEHALF OF THE BOARD:





Mr A Khan - Director


29 September 2023

Ambala Foods Limited (Registered number: 06544656)

Report of the Directors
for the Year Ended 30 December 2022

The directors present their report with the financial statements of the company for the year ended 30 December 2022.

DIVIDENDS
No dividends will be distributed for the year ended 30 December 2022.

DIRECTORS
The directors shown below have held office during the whole of the period from 31 December 2021 to the date of this report.

Mr A Khan
Miss M P Gordon

Other changes in directors holding office are as follows:

Mr M A Khan ceased to be a director after 30 December 2022 but prior to the date of this report.

GOING CONCERN
The directors have assessed the Company's ability to continue as a going concern and have considered various factors, including recent and historical financial performance, operational plans, financing arrangements, market and industry conditions and material uncertainties that may cast significant doubt upon the Company's ability to continue as a going concern. Based on such assessments and considerations, and the available financial forecast data, the directors remain confident that the Company has the ability to continue as a going concern for the foreseeable future and directors consider that it is appropriate to prepare the financial statements on the going concern basis.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Ambala Foods Limited (Registered number: 06544656)

Report of the Directors
for the Year Ended 30 December 2022


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



Mr A Khan - Director


29 September 2023

Report of the Independent Auditors to the Members of
Ambala Foods Limited

Opinion
We have audited the financial statements of Ambala Foods Limited (the 'company') for the year ended 30 December 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 December 2022 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Ambala Foods Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Ambala Foods Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit in respect of fraud are; to identify and assess the risks of material misstatement due to fraud:to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:-
Based on our understanding of the company, the industry and discussions with management we identified Financial Reporting Standard 102 and Companies Act 2006 and UK taxation legislation.
We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur and whether there had been known instances of non compliance or suspected non compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of the financial statements, whether due to fraud and error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, misrepresentations or intentional omissions.
Enquiries of management regarding compliance of Laws & Regulations and any known instances of non compliance;
Examining supporting documentation for all material balances, transactions and disclosures;
Evaluation of the selection and application of accounting policies;
Reviewing the appropriateness of journal entries made in the general ledger and other adjustments made in the preparation of financial statements;
Review of accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Ambala Foods Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Howard Ashmore FCA (Senior Statutory Auditor)
for and on behalf of Godfrey Laws & Co Limited
Statutory Auditors
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

29 September 2023

Ambala Foods Limited (Registered number: 06544656)

Income Statement
for the Year Ended 30 December 2022

30.12.22 30.12.21
Notes £'000 £'000

TURNOVER 12,252 11,238

Cost of sales 9,244 7,940
GROSS PROFIT 3,008 3,298

Administrative expenses 2,752 2,794
256 504

Other operating income 18 513
OPERATING PROFIT 4 274 1,017

Interest receivable and similar income - 1
PROFIT BEFORE TAXATION 274 1,018

Tax on profit 5 140 161
PROFIT FOR THE FINANCIAL YEAR 134 857

Ambala Foods Limited (Registered number: 06544656)

Other Comprehensive Income
for the Year Ended 30 December 2022

30.12.22 30.12.21
Notes £'000 £'000

PROFIT FOR THE YEAR 134 857


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

134

857

Ambala Foods Limited (Registered number: 06544656)

Balance Sheet
30 December 2022

30.12.22 30.12.21
Notes £'000 £'000 £'000 £'000
FIXED ASSETS
Tangible assets 6 2,183 2,240

CURRENT ASSETS
Stocks 7 703 454
Debtors 8 1,809 1,043
Cash at bank and in hand 1,349 1,888
3,861 3,385
CREDITORS
Amounts falling due within one year 9 1,266 1,070
NET CURRENT ASSETS 2,595 2,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,778

4,555

PROVISIONS FOR LIABILITIES 12 425 336
NET ASSETS 4,353 4,219

CAPITAL AND RESERVES
Called up share capital 13 10 10
Retained earnings 14 4,343 4,209
SHAREHOLDERS' FUNDS 4,353 4,219

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mr A Khan - Director


Ambala Foods Limited (Registered number: 06544656)

Statement of Changes in Equity
for the Year Ended 30 December 2022

Called up
share Retained Total
capital earnings equity
£'000 £'000 £'000

Balance at 31 December 2020 10 3,352 3,362

Changes in equity
Total comprehensive income - 857 857
Balance at 30 December 2021 10 4,209 4,219

Changes in equity
Total comprehensive income - 134 134
Balance at 30 December 2022 10 4,343 4,353

Ambala Foods Limited (Registered number: 06544656)

Cash Flow Statement
for the Year Ended 30 December 2022

30.12.22 30.12.21
Notes £'000 £'000
Cash flows from operating activities
Cash generated from operations 1 448 1,016
Tax paid (66 ) (1 )
Net cash from operating activities 382 1,015

Cash flows from investing activities
Purchase of tangible fixed assets (95 ) (129 )
Sale of tangible fixed assets 3 -
Interest received - 1
Net cash from investing activities (92 ) (128 )

Cash flows from financing activities
Amount introduced by directors 198 71
Amount withdrawn by directors (1,027 ) (198 )
Net cash from financing activities (829 ) (127 )

(Decrease)/increase in cash and cash equivalents (539 ) 760
Cash and cash equivalents at beginning of
year

2

1,888

1,128

Cash and cash equivalents at end of year 2 1,349 1,888

Ambala Foods Limited (Registered number: 06544656)

Notes to the Cash Flow Statement
for the Year Ended 30 December 2022

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.12.22 30.12.21
£'000 £'000
Profit before taxation 274 1,018
Depreciation charges 151 149
Profit on disposal of fixed assets (3 ) -
Finance income - (1 )
422 1,166
Increase in stocks (249 ) (49 )
Decrease/(increase) in trade and other debtors 202 (30 )
Increase/(decrease) in trade and other creditors 73 (71 )
Cash generated from operations 448 1,016

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 December 2022
30.12.22 31.12.21
£'000 £'000
Cash and cash equivalents 1,349 1,888
Year ended 30 December 2021
30.12.21 31.12.20
£'000 £'000
Cash and cash equivalents 1,888 1,128


3. ANALYSIS OF CHANGES IN NET FUNDS

At 31.12.21 Cash flow At 30.12.22
£'000 £'000 £'000
Net cash
Cash at bank and in hand 1,888 (539 ) 1,349
1,888 (539 ) 1,349
Total 1,888 (539 ) 1,349

Ambala Foods Limited (Registered number: 06544656)

Notes to the Financial Statements
for the Year Ended 30 December 2022

1. STATUTORY INFORMATION

Ambala Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The directors consider that it is appropriate to prepare the financial statements on the going concern basis after having reviewed cashflow forecasts and revenue projections for next year, after making appropriate enquiries and after reasonable consideration of the local and global factors affecting operational existence for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Short leasehold - 50 years
Plant and machinery - 15 years, 10 years and 5 years
Motor vehicles - 5 years

Stocks
Stocks and work in progress includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. 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.

Financial instruments
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are conducted in sterling, US dollars and Euro's. The group typically has the ability to self-hedge exchange rate volatility. The company does not enter into any formally designated hedging arrangements.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Ambala Foods Limited (Registered number: 06544656)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS
30.12.22 30.12.21
£'000 £'000
Wages and salaries 4,786 4,782
Social security costs 495 417
Other pension costs 66 69
5,347 5,268

The average number of employees during the year was as follows:
30.12.22 30.12.21

Production 75 78
Sales 90 85
Administration 5 6
170 169

30.12.22 30.12.21
£    £   
Directors' remuneration 361,270 383,585

Information regarding the highest paid director is as follows:
30.12.22 30.12.21
£    £   
Emoluments etc 217,629 200,400

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.12.22 30.12.21
£'000 £'000
Hire of plant and machinery 16 15
Other operating leases 716 690
Depreciation - owned assets 152 149
Profit on disposal of fixed assets (3 ) -
Auditors' remuneration 16 14
Foreign exchange differences (2 ) 2

Ambala Foods Limited (Registered number: 06544656)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.12.22 30.12.21
£'000 £'000
Current tax:
UK corporation tax 50 158

Deferred tax:
Provision for year (12 ) 3
Provision for tax rate change 102 -
Total deferred tax 90 3
Tax on profit 140 161

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.12.22 30.12.21
£'000 £'000
Profit before tax 274 1,018
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2021 - 19%)

52

194

Effects of:
Income not taxable for tax purposes (1 ) -
Capital allowances in excess of depreciation (1 ) (7 )
Utilisation of tax losses - (28 )
Deferred tax 90 2
Total tax charge 140 161

Ambala Foods Limited (Registered number: 06544656)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

6. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£'000 £'000 £'000 £'000
COST
At 31 December 2021 1,795 2,208 148 4,151
Additions - 68 27 95
Disposals - - (42 ) (42 )
At 30 December 2022 1,795 2,276 133 4,204
DEPRECIATION
At 31 December 2021 451 1,367 93 1,911
Charge for year 36 102 14 152
Eliminated on disposal - - (42 ) (42 )
At 30 December 2022 487 1,469 65 2,021
NET BOOK VALUE
At 30 December 2022 1,308 807 68 2,183
At 30 December 2021 1,344 841 55 2,240

7. STOCKS
30.12.22 30.12.21
£'000 £'000
Raw materials and consumables 544 285
Work-in-progress 7 20
Finished goods 152 149
703 454

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.22 30.12.21
£'000 £'000
Trade debtors 63 56
Other debtors 121 217
Directors' current accounts 1,027 198
Tax 352 213
VAT 38 87
Prepayments and accrued income 208 272
1,809 1,043

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.22 30.12.21
£'000 £'000
Trade creditors 647 597
Tax 322 199
Social security and other taxes 94 90
Other creditors 13 13
Accrued expenses 190 171
1,266 1,070

Ambala Foods Limited (Registered number: 06544656)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.12.22 30.12.21
£'000 £'000
Within one year 619 668
Between one and five years 1,721 1,907
In more than five years 1,762 2,101
4,102 4,676

11. FINANCIAL INSTRUMENTS

Financial instruments that are debt instruments measured at amortised cost:
30.12.22 30.12.21
£'000 £'000
Trade debtors 63 56
Other debtors 121 217
Cash at bank and in hand 1,349 1,888

Financial liabilities measured at amortised cost:

30.12.22 30.12.21
£'000 £'000
Trade creditors 647 597
Other creditors 13 13


12. PROVISIONS FOR LIABILITIES
30.12.22 30.12.21
£'000 £'000
Deferred tax 425 336

Deferred
tax
£'000
Balance at 31 December 2021 336
Provided during year 90
Balance at 30 December 2022 426

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.12.22 30.12.21
value: £'000 £'000
10,000 Ordinary 1 10 10

Ambala Foods Limited (Registered number: 06544656)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

14. RESERVES
Retained
earnings
£'000

At 31 December 2021 4,209
Profit for the year 134
At 30 December 2022 4,343

15. RELATED PARTY DISCLOSURES

During the year the directors loan account remained overdrawn. At the year end £1,027k (2021 : £198k ) was owed from the director Mr M A Khan in respect of his loan account. No interest is charged on the loan by the company.

The company paid rent of £100k (2021 : £100k) to the director in respect of a property occupied by the company.

16. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Khan.