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Network Food Distribution Limited
 
 
Company Registration Number
07003779
 
 
Report of the Directors and
Abridged Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/11/2022
 
End date 31/10/2023
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
Network Food Distribution Limited
 
Contents of the Financial Statements
for the Period Ended 31 October 2023
 
 
Page
Company Information 3
 
Report of the Accountants 4
 
Abridged Balance Sheet 5 - 6
 
Notes to the Financial Statements 7 - 10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
Network Food Distribution Limited
 
Company Information
for the Period Ended 31 October 2023
 
Directors Ferit Samil Ercan
Ferdi Fatih Ercan
 
 
Registered office Block A - 5 Industrial Trading Estate
Brantwood Road
London
N17 0DX
 
Company Registration Number 07003779
 
Accountants Name Gench & Company
Address 3 Jarvis Close
Barking
Essex
IG11 7PZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
Network Food Distribution Limited
 
Accountants' Report
for the Period Ended 31 October 2023
 
Independent accountants' report
 
Report to the directors on the preparation of the unaudited statutory accounts of the company for theperiod ended 31 October 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of the company for the period ended 31 October 2023 as set out on pages 3 to 10 which comprise of the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the
accounts of the company and state those matters that we have agreed to state to the Board of Directors
of the company, as a body, in this report. 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 the company has kept adequate accounting records and to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit/(loss) of
the company. You consider the company is exempt from the statutory audit requirement for the
period.
We have not been instructed to carry out an audit of the financial statements. 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 financial
statements.
 
 
 
 
 
 
 
Gench & Company
3 Jarvis Close
Barking
Essex
IG11 7PZ
 
Date 2023-11-02
Page 4
Network Food Distribution Limited
Balance Sheet
for the Period Ended 31 October 2023
Company registration number 07003779
2023 2022
Notes £ £
Fixed assets
Tangible fixed assets 2 66,473 56,430
_______ _______
Total fixed assets 66,473 56,430
Current assets
Stocks 3 210,462 292,486
Debtors 4 442,903 441,517
Cash at bank and in hand 354,078 261,764
_______ _______
Total current assets/(liabilities) 1,007,443 995,767
Creditors
Creditors - amounts falling
due within one year 5 232,493 318,133
_______ _______
Net current assets 774,950 677,634
_______ _______
Total assets less current liabilities 841,423 734,064
_______ _______
Creditors - amounts falling
due after more than one year 6 55,071 40,205
_______ _______
Long term creditors 55,071 40,205
______ ______
Net assets/(liabilities) 786,352 693,859
Capital and reserves
Called up share capital 7 100,000 100,000
Profit and loss account 8 686,352 593,859
______ ______
Total shareholders funds 786,352 693,859
 
 
 
 
 
 
 
Page 5
Network Food Distribution Limited
 
Balance Sheet
for the Period Ended 31 October 2023
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The option not to file the profit and loss account has been taken.
 
For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The members have agreed to the preparation of abridged accounts.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2023-11-02
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Ferit Samil Ercan
Status Director
 
The notes form part of these financial statements
Average number of employees during period 11
 
 
 
 
 
 
 
Page 6
Network Food Distribution Limited
Notes to the Financial Statements
for the Period Ended 31 October 2023
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings 0
Office equipment 0
Motor vehicles 0
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 7
Network Food Distribution Limited
Notes to the Financial Statements
for the Period Ended 31 October 2023
2. Tangible fixed assets
Fixtures Office Motor Total
and fittings equipment vehicles
Cost £ £ £ £
At 1 November 2022 14,981 30,493 51,959 97,433
Additions 26,663 26,663
_____ _____ _____ ______
At 31 October 2023 14,981 30,493 78,622 124,096
Depreciation
At 1 November 2022 7,085 10,004 23,914 41,003
Charge for year 1,580 4,098 10,942 16,620
____ _____ _____ _____
At 31 October 2023 8,665 14,102 34,856 57,623
Net book value
At 31 October 2023 6,316 16,391 43,766 66,473
At 31 October 2022 7,896 20,489 28,045 56,430
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 8
Network Food Distribution Limited
Notes to the Financial Statements
for the Period Ended 31 October 2023
3. Stocks 2023 2022
Finished goods 210,462 292,486
Total 210,462 292,486
4. Debtors 2023 2022
Trade debtors 74,747 78,153
Other debtors 351,772 351,772
Prepayments and accrued income 16,384 11,592
______ ______
Total 442,903 441,517
5. Creditors amounts falling due within one year 2023 2022
Trade creditors 178,332 290,058
Corporation tax 36,368 11,763
Other taxation and social security 12,993 12,312
Accruals and deferred income 4,800 4,000
______ ______
Total 232,493 318,133
6. Creditors amounts falling due after more than one year 2023 2022
Bank loans 55,071 40,205
_____ _____
Total 55,071 40,205
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
Network Food Distribution Limited
Notes to the Financial Statements
for the Period Ended 31 October 2023
7. Share capital 2023 2022
Authorised type Par value £ £
Ordinary shares 1 100,000 100,000
______ ______
Total 100,000 100,000
Allotted, called up and paid £ £
Ordinary shares 100,000 100,000
______ ______
Total 100,000 100,000
8. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 November 2022 593,859
Profit/(Loss) for year 127,493
Dividends paid 35,000
______
Retained Profit/(Loss) at 31 October 2023 686,352
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10