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REGISTERED NUMBER: 04608179 (England and Wales)












HAVEN FOODS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2023






HAVEN FOODS LIMITED (REGISTERED NUMBER: 04608179)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HAVEN FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: R M Francis



SECRETARY: Mrs M A Francis



REGISTERED OFFICE: Upton Farm
Cosheston
Pembroke
Pembrokeshire
SA72 4SE



REGISTERED NUMBER: 04608179 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
Castle Chambers
6 Westgate Hill
Pembroke
Pembrokeshire
SA71 4LB



BANKERS: Barclays Bank plc
32 High Street
Haverfordwest
Pembrokeshire
SA61 2YP

HAVEN FOODS LIMITED (REGISTERED NUMBER: 04608179)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 567,322 583,211
567,322 583,211

CURRENT ASSETS
Stocks 55,000 39,294
Debtors 6 4,236 2,381
Cash at bank 33,193 436,257
92,429 477,932
CREDITORS
Amounts falling due within one year 7 42,728 42,484
NET CURRENT ASSETS 49,701 435,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,023

1,018,659

ACCRUALS AND DEFERRED INCOME 384 495
NET ASSETS 616,639 1,018,164

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 616,339 1,017,864
SHAREHOLDERS' FUNDS 616,639 1,018,164

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 6 October 2023 and were signed by:





R M Francis - Director


HAVEN FOODS LIMITED (REGISTERED NUMBER: 04608179)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Improvements to property - 15% reducing balance
Plant and Machinery - 25% reducing balance

Government grants
CJRS grant income is recognised at the date it arises.

Other revenue grant income is recognised at the date of receipt.

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.

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.

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.

HAVEN FOODS LIMITED (REGISTERED NUMBER: 04608179)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 150,000
AMORTISATION
At 1 February 2022
and 31 January 2023 150,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property Machinery Totals
£    £    £    £   
COST
At 1 February 2022
and 31 January 2023 600,000 219,430 189,804 1,009,234
DEPRECIATION
At 1 February 2022 76,900 168,085 181,038 426,023
Charge for year 6,000 7,702 2,187 15,889
At 31 January 2023 82,900 175,787 183,225 441,912
NET BOOK VALUE
At 31 January 2023 517,100 43,643 6,579 567,322
At 31 January 2022 523,100 51,345 8,766 583,211

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,236 2,381

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,043 -
Tax 26,802 35,156
VAT 6,883 2,328
Other creditors 4,000 4,000
Accrued expenses 1,000 1,000
42,728 42,484

8. RELATED PARTY DISCLOSURES

During the year sales income of £320,298 (2022 £281,992) and rents of £28,000 (2022 £21,000) were received from Upton Farm Frozen Foods Limited, a company controlled by R M & M A Francis. £Nil (2022 £2,473) is outstanding at the year end and is included in trade debtors.

HAVEN FOODS LIMITED (REGISTERED NUMBER: 04608179)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

9. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by T R Francis and C H Francis by virtue of their holding of the B Ordinary shares.

10. GRANT INCOME

During the period the company received the following grants relating to the Covid-19 pandemic.

2023 2022

HM Revenue & Customs - Job Retention Scheme - 1,757

Welsh Government/Pembrokeshire County Council - 18,000

- 19,757
* The company also received rate relief, rates for the period were reduced to £Nil.