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REGISTERED NUMBER: 06167767 (England and Wales)















Diverse Fine Food Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Diverse Fine Food Limited (Registered number: 06167767)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Diverse Fine Food Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Wiltshire
Mrs N K Stewart
E R Ford



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 06167767 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Barclays Bank plc
16 High Street
Bridgwater
Somerset
TA6 3DX

Diverse Fine Food Limited (Registered number: 06167767)

Abridged Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 34,172 35,811
Tangible assets 6 115,661 136,989
149,833 172,800

CURRENT ASSETS
Stocks 325,623 330,556
Debtors 637,428 486,419
Cash at bank and in hand 134,676 223,791
1,097,727 1,040,766
CREDITORS
Amounts falling due within one year 772,734 730,675
NET CURRENT ASSETS 324,993 310,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,826

482,891

CREDITORS
Amounts falling due after more than one year (51,876 ) (90,412 )

PROVISIONS FOR LIABILITIES (21,976 ) (26,028 )
NET ASSETS 400,974 366,451

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 400,874 366,351
SHAREHOLDERS' FUNDS 400,974 366,451

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.

Diverse Fine Food Limited (Registered number: 06167767)

Abridged Statement of Financial Position - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





Mrs N K Stewart - Director


Diverse Fine Food Limited (Registered number: 06167767)

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

1. STATUTORY INFORMATION

Diverse Fine 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. 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.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% 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 statement of financial position date.


Diverse Fine Food Limited (Registered number: 06167767)

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 statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 17 (2022 - 14 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 39,790
Additions 2,530
At 31 March 2023 42,320
AMORTISATION
At 1 April 2022 3,979
Amortisation for year 4,169
At 31 March 2023 8,148
NET BOOK VALUE

At 31 March 2023 34,172
At 31 March 2022 35,811

Diverse Fine Food Limited (Registered number: 06167767)

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

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 356,697
Additions 50,576
Disposals (1,290 )
Grants (41,900 )
At 31 March 2023 364,083
DEPRECIATION
At 1 April 2022 219,708
Charge for year 29,425
Eliminated on disposal (711 )
At 31 March 2023 248,422
NET BOOK VALUE
At 31 March 2023 115,661
At 31 March 2022 136,989

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022
and 31 March 2023 235,371
DEPRECIATION
At 1 April 2022 147,095
Charge for year 19,708
At 31 March 2023 166,803
NET BOOK VALUE
At 31 March 2023 68,568
At 31 March 2022 88,276

Diverse Fine Food Limited (Registered number: 06167767)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 57,377 80,640
Hire purchase contracts 33,034 69,013
90,411 149,653

The hire purchase agreement is secured against the assets to which it relates.

The bank loans include a government secured bounce back loan and a bank loan secured against the software to which it relates.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs N K Stewart and M Wiltshire
Balance outstanding at start of year 81,493 128,533
Amounts advanced 98,309 301,960
Amounts repaid (84,000 ) (349,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,802 81,493

E R Ford
Balance outstanding at start of year - -
Amounts advanced 34,000 25,000
Amounts repaid - (25,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,000 -