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REGISTERED NUMBER: 03575941 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Foodcare Systems Ltd

Foodcare Systems Ltd (Registered number: 03575941)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Foodcare Systems Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr Barry Martin Wells
Mr Joseph Barry Wells





REGISTERED OFFICE: Unit 1
North Lynn Business Village
Bergen Way
King's Lynn
Norfolk
PE30 2JG





REGISTERED NUMBER: 03575941 (England and Wales)





ACCOUNTANTS: Steve Pye & Co.
Chartered Certified Accountants
Unit 3
North Lynn Business Village
Bergen Way
King's Lynn
Norfolk
PE30 2JG

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Foodcare Systems Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Foodcare Systems Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Foodcare Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Foodcare Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Foodcare Systems Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Foodcare Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Foodcare Systems Ltd. You consider that Foodcare Systems Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Foodcare Systems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Steve Pye & Co.
Chartered Certified Accountants
Unit 3
North Lynn Business Village
Bergen Way
King's Lynn
Norfolk
PE30 2JG


22 September 2023

Foodcare Systems Ltd (Registered number: 03575941)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 70,312 86,641

CURRENT ASSETS
Stocks 125,012 104,456
Debtors 6 324,000 259,063
Cash at bank 61,746 52,505
510,758 416,024
CREDITORS
Amounts falling due within one year 7 435,005 351,735
NET CURRENT ASSETS 75,753 64,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,065

150,930

CREDITORS
Amounts falling due after more than one
year

8

(22,437

)

(32,387

)

PROVISIONS FOR LIABILITIES (8,578 ) (11,299 )
NET ASSETS 115,050 107,244

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 9 34,231 40,741
Retained earnings 60,819 46,503
115,050 107,244

Foodcare Systems Ltd (Registered number: 03575941)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by:





Mr Barry Martin Wells - Director


Foodcare Systems Ltd (Registered number: 03575941)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Foodcare Systems Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

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.
Leasehold Property Improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Website costs - 10% on reducing balance

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

Foodcare Systems Ltd (Registered number: 03575941)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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.


Foodcare Systems Ltd (Registered number: 03575941)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Leasehold
Property Plant and Motor Website
Improvements machinery vehicles costs Totals
£    £    £    £    £   
COST
At 1 April 2022 4,296 200,519 40,159 63,429 308,403
Additions - 1,025 - - 1,025
At 31 March 2023 4,296 201,544 40,159 63,429 309,428
DEPRECIATION
At 1 April 2022 3,439 183,343 16,036 18,944 221,762
Charge for year 429 4,551 6,031 6,343 17,354
At 31 March 2023 3,868 187,894 22,067 25,287 239,116
NET BOOK VALUE
At 31 March 2023 428 13,650 18,092 38,142 70,312
At 31 March 2022 857 17,176 24,123 44,485 86,641

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 266,259 207,411
Other debtors 9,596 4,643
275,855 212,054

Foodcare Systems Ltd (Registered number: 03575941)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by participating interests 48,145 47,009

Aggregate amounts 324,000 259,063

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,952 9,819
Payments on account 7,712 36,304
Trade creditors 258,940 221,789
Taxation and social security 64,082 41,740
Other creditors 94,319 42,083
435,005 351,735

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 22,437 32,387

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022 40,741
Revaluation Reserve reduction (6,510 )

At 31 March 2023 34,231