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REGISTERED NUMBER: 07409241 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Sub Food Limited

Sub Food Limited (Registered number: 07409241)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sub Food Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: M Zafar





REGISTERED OFFICE: 109 Tottenham Court Road
London
W1T 5AD





REGISTERED NUMBER: 07409241 (England and Wales)





ACCOUNTANTS: Alis Accountants Limited
The Lansdowne Building
2 Lansdowne Road
Croydon
CR9 2ER

Sub Food Limited (Registered number: 07409241)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,181 105,052
Investments 5 2 2
85,183 105,054

CURRENT ASSETS
Stocks 6 4,233 5,851
Debtors 7 879,200 828,435
Cash at bank and in hand 95,755 103,723
979,188 938,009
CREDITORS
Amounts falling due within one year 8 410,206 458,208
NET CURRENT ASSETS 568,982 479,801
TOTAL ASSETS LESS CURRENT
LIABILITIES

654,165

584,855

PROVISIONS FOR LIABILITIES 15,987 19,904
NET ASSETS 638,178 564,951

Sub Food Limited (Registered number: 07409241)

Balance Sheet - continued
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 637,178 563,951
SHAREHOLDERS' FUNDS 638,178 564,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





M Zafar - Director


Sub Food Limited (Registered number: 07409241)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Sub Food 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Sub Food Limited (Registered number: 07409241)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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.

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

The average number of employees during the year was 31 (2021 - 35 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 29,385 223,358 183,535 17,915 454,193
Additions - 699 - 529 1,228
At 31 December 2022 29,385 224,057 183,535 18,444 455,421
DEPRECIATION
At 1 January 2022 26,868 170,115 140,396 11,762 349,141
Charge for year 503 10,649 8,628 1,319 21,099
At 31 December 2022 27,371 180,764 149,024 13,081 370,240
NET BOOK VALUE
At 31 December 2022 2,014 43,293 34,511 5,363 85,181
At 31 December 2021 2,517 53,243 43,139 6,153 105,052

Sub Food Limited (Registered number: 07409241)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 January 2022
and 31 December 2022 2
NET BOOK VALUE
At 31 December 2022 2
At 31 December 2021 2

6. STOCKS
31.12.22 31.12.21
£    £   
Stocks 4,233 5,851

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors - 1,386
Amounts owed by group undertakings 773,122 595,401
Other debtors 49,571 76,780
VAT - 689
Prepayments and accrued income 56,507 154,179
879,200 828,435

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 116,463 291,546
Taxation and social security 50,944 5,506
Other creditors 242,799 161,156
410,206 458,208

Sub Food Limited (Registered number: 07409241)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. LEASING AGREEMENTS
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating lease as follows:
2022 2021
£ £

905,000 1,090,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. ULTIMATE CONTROLLING PARTY

In the Opinion of the directors, the company's ultimate parent company is Franchise Food Ltd, a company incorporated in England and Wales.