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REGISTERED NUMBER: 02369108 (England and Wales)














Unaudited Financial Statements

For The Year Ended 31st March 2023

for

House of Flavours Limited

House of Flavours Limited (Registered number: 02369108)






Contents of the Financial Statements
For The Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

House of Flavours Limited

Company Information
For The Year Ended 31st March 2023







DIRECTORS: L Meek
D J Twiss





SECRETARY: L Meek





REGISTERED OFFICE: 10 Forest Vale Road
Forest Vale Industrial Estate
Cinderford
Gloucestershire
GL14 2PH





REGISTERED NUMBER: 02369108 (England and Wales)





ACCOUNTANTS: Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

House of Flavours Limited (Registered number: 02369108)

Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 528 613
Tangible assets 5 126,869 96,224
127,397 96,837

CURRENT ASSETS
Stocks 6 416,365 320,765
Debtors 7 1,091,689 1,234,131
Investments 8 2,628 2,628
Cash at bank and in hand 546,731 703,380
2,057,413 2,260,904
CREDITORS
Amounts falling due within one year 9 703,581 667,016
NET CURRENT ASSETS 1,353,832 1,593,888
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,481,229

1,690,725

PROVISIONS FOR LIABILITIES 10 24,105 15,360
NET ASSETS 1,457,124 1,675,365

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 1,457,024 1,675,265
SHAREHOLDERS' FUNDS 1,457,124 1,675,365

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

House of Flavours Limited (Registered number: 02369108)

Balance Sheet - continued
31st March 2023


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 and authorised for issue by the Board of Directors and authorised for issue on 13th September 2023 and were signed on its behalf by:





L Meek - Director


House of Flavours Limited (Registered number: 02369108)

Notes to the Financial Statements
For The Year Ended 31st March 2023

1. STATUTORY INFORMATION

House of Flavours 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% 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.

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.

House of Flavours Limited (Registered number: 02369108)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

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 14 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st April 2022
and 31st March 2023 1,200
AMORTISATION
At 1st April 2022 587
Amortisation for year 85
At 31st March 2023 672
NET BOOK VALUE
At 31st March 2023 528
At 31st March 2022 613

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st April 2022 379,547 48,077 427,624
Additions 54,028 6,912 60,940
Disposals (2,295 ) - (2,295 )
At 31st March 2023 431,280 54,989 486,269
DEPRECIATION
At 1st April 2022 291,995 39,405 331,400
Charge for year 22,314 7,745 30,059
Eliminated on disposal (2,059 ) - (2,059 )
At 31st March 2023 312,250 47,150 359,400
NET BOOK VALUE
At 31st March 2023 119,030 7,839 126,869
At 31st March 2022 87,552 8,672 96,224

House of Flavours Limited (Registered number: 02369108)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 416,365 320,765

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 440,523 420,185
Sundry Debtors & Prepayments 651,166 813,946
1,091,689 1,234,131

8. CURRENT ASSET INVESTMENTS
31.3.23 31.3.22
£    £   
Unlisted investments 2,628 2,628

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed to group undertakings 168,221 168,221
Tax 61,702 66,234
VAT 75,200 93,544
Sundry Creditors & Accruals 398,458 339,017
703,581 667,016

10. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 24,105 15,360

Deferred
tax
£   
Balance at 1st April 2022 15,360
Charge to Income Statement during year 8,745
Balance at 31st March 2023 24,105

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

House of Flavours Limited (Registered number: 02369108)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

12. RESERVES
Retained
earnings
£   

At 1st April 2022 1,675,265
Profit for the year 281,759
Dividends (500,000 )
At 31st March 2023 1,457,024

13. RELATED PARTY DISCLOSURES

There was £168,221 (2022 £168,221 ) due to Net International Ltd at the year end.

There was £440,523 (2022 £420,185) Owing from House of Flavours (Holdings) Limited at the year end.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Twiss.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
House of Flavours Limited

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 House of Flavours Limited for the year ended 31st 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 House of Flavours Limited, 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 House of Flavours Limited and state those matters that we have agreed to state to the Board of Directors of House of Flavours Limited, 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 House of Flavours Limited 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 House of Flavours Limited. You consider that House of Flavours Limited 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 House of Flavours Limited. 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.






Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


13th September 2023