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REGISTERED NUMBER: 05029623 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Taste Tradition Limited

Taste Tradition Limited (Registered number: 05029623)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Taste Tradition Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: C A Ashbridge
Mrs J C Ashbridge
I Welford





REGISTERED OFFICE: Mount Grace Farm
Cold Kirby
Thirsk
North Yorkshire
YO7 2HL





REGISTERED NUMBER: 05029623 (England and Wales)





ACCOUNTANTS: Inspire FBW Limited
Tees View
Sabatier Close
Stockton
TS17 6EW

Taste Tradition Limited (Registered number: 05029623)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 543,041 452,780

CURRENT ASSETS
Stocks 175,208 104,748
Debtors 5 1,235,624 963,325
Investments 6 528 480
Cash at bank and in hand 1,514,479 1,393,471
2,925,839 2,462,024
CREDITORS
Amounts falling due within one year 7 1,098,885 1,143,072
NET CURRENT ASSETS 1,826,954 1,318,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,369,995

1,771,732

CREDITORS
Amounts falling due after more than one year 8 (24,840 ) (36,114 )

PROVISIONS FOR LIABILITIES (78,076 ) (60,415 )
NET ASSETS 2,267,079 1,675,203

Taste Tradition Limited (Registered number: 05029623)

Balance Sheet - continued
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 180 180
Share premium 34,990 34,990
Capital redemption reserve 20 20
Retained earnings 2,231,889 1,640,013
2,267,079 1,675,203

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 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 18 October 2023 and were signed on its behalf by:





C A Ashbridge - Director


Taste Tradition Limited (Registered number: 05029623)

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

1. STATUTORY INFORMATION

Taste Tradition 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 for goods supplied and services received, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 - not provided
Short leasehold - over the term of the lease
Plant and machinery - 5% and 20% on reducing balance
Fixtures and fittings - 33% on reducing balance and 20% on cost
Motor vehicles - 10% to 25% 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.

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.


Taste Tradition Limited (Registered number: 05029623)

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

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 28 (2022 - 25 ) .

Taste Tradition Limited (Registered number: 05029623)

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

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 February 2022 90,000 134,973 346,136
Additions - - 66,554
Disposals - - (21,900 )
At 31 January 2023 90,000 134,973 390,790
DEPRECIATION
At 1 February 2022 - 134,973 157,375
Charge for year - - 29,930
Eliminated on disposal - - (2,328 )
At 31 January 2023 - 134,973 184,977
NET BOOK VALUE
At 31 January 2023 90,000 - 205,813
At 31 January 2022 90,000 - 188,761

Taste Tradition Limited (Registered number: 05029623)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2022 57,016 297,034 925,159
Additions 26,557 127,444 220,555
Disposals (2,712 ) (85,818 ) (110,430 )
At 31 January 2023 80,861 338,660 1,035,284
DEPRECIATION
At 1 February 2022 18,687 161,344 472,379
Charge for year 10,498 48,934 89,362
Eliminated on disposal (316 ) (66,854 ) (69,498 )
At 31 January 2023 28,869 143,424 492,243
NET BOOK VALUE
At 31 January 2023 51,992 195,236 543,041
At 31 January 2022 38,329 135,690 452,780

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 1,019,217 854,664
Other debtors 216,407 108,661
1,235,624 963,325

6. CURRENT ASSET INVESTMENTS
31.1.23 31.1.22
£    £   
Other investments 528 480

Taste Tradition Limited (Registered number: 05029623)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 10,000 9,667
Hire purchase contracts 4,240 15,903
Trade creditors 813,925 893,451
Taxation and social security 153,088 71,083
Other creditors 117,632 152,968
1,098,885 1,143,072

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 24,840 34,820
Hire purchase contracts - 1,294
24,840 36,114

9. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments at the balance sheet date of £13,500 (2022:£40,000)