Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31162022-09-01falseprocessing nuts16falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07787513 2022-09-01 2023-08-31 07787513 2021-09-01 2022-08-31 07787513 2023-08-31 07787513 2022-08-31 07787513 c:Director1 2022-09-01 2023-08-31 07787513 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 07787513 d:Buildings d:ShortLeaseholdAssets 2023-08-31 07787513 d:Buildings d:ShortLeaseholdAssets 2022-08-31 07787513 d:PlantMachinery 2022-09-01 2023-08-31 07787513 d:PlantMachinery 2023-08-31 07787513 d:PlantMachinery 2022-08-31 07787513 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07787513 d:FurnitureFittings 2022-09-01 2023-08-31 07787513 d:FurnitureFittings 2023-08-31 07787513 d:FurnitureFittings 2022-08-31 07787513 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07787513 d:OfficeEquipment 2022-09-01 2023-08-31 07787513 d:OfficeEquipment 2023-08-31 07787513 d:OfficeEquipment 2022-08-31 07787513 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07787513 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07787513 d:CurrentFinancialInstruments 2023-08-31 07787513 d:CurrentFinancialInstruments 2022-08-31 07787513 d:Non-currentFinancialInstruments 2023-08-31 07787513 d:Non-currentFinancialInstruments 2022-08-31 07787513 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 07787513 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 07787513 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 07787513 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 07787513 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 07787513 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 07787513 d:ShareCapital 2023-08-31 07787513 d:ShareCapital 2022-08-31 07787513 d:RetainedEarningsAccumulatedLosses 2023-08-31 07787513 d:RetainedEarningsAccumulatedLosses 2022-08-31 07787513 c:OrdinaryShareClass1 2022-09-01 2023-08-31 07787513 c:OrdinaryShareClass1 2023-08-31 07787513 c:OrdinaryShareClass1 2022-08-31 07787513 c:FRS102 2022-09-01 2023-08-31 07787513 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 07787513 c:FullAccounts 2022-09-01 2023-08-31 07787513 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07787513 d:WithinOneYear 2023-08-31 07787513 d:WithinOneYear 2022-08-31 07787513 d:BetweenOneFiveYears 2023-08-31 07787513 d:BetweenOneFiveYears 2022-08-31 07787513 2 2022-09-01 2023-08-31 07787513 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 07787513 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 07787513 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 07787513 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07787513








CAMBROOK FOODS LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2023

 
CAMBROOK FOODS LIMITED
REGISTERED NUMBER: 07787513

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
430,936
354,036

  
430,936
354,036

Current assets
  

Stocks
 5 
288,700
306,700

Debtors: amounts falling due after more than one year
 6 
-
53,420

Debtors: amounts falling due within one year
 6 
465,004
397,820

Cash at bank and in hand
  
114,713
65,878

  
868,417
823,818

Creditors: amounts falling due within one year
 7 
(540,077)
(385,942)

Net current assets
  
 
 
328,340
 
 
437,876

Total assets less current liabilities
  
759,276
791,912

Creditors: amounts falling due after more than one year
 8 
(514,234)
(513,878)

  

Net assets
  
245,042
278,034


Capital and reserves
  

Called up share capital 
 11 
270,000
520,000

Profit and loss account
  
(24,958)
(241,966)

  
245,042
278,034


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
CAMBROOK FOODS LIMITED
REGISTERED NUMBER: 07787513
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 November 2023.




M. H. Brooks
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Cambrook Foods Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07787513. The address of the registered office is Unit B1 Howard Tenens Estate, Macadam Way, Andover, Hampshire, SP10 3LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company amd the revenue can be reliably measured. Revenue is measured based on sale of nuts, excluding value added tax.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
10% straight line
Plant & machinery
-
10% straight line
Fixtures & fittings
-
15% straight line
Office equipment
-
20% - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income including profit and loss account.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 16).

Page 6

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Leasehold Improvements
Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
134,097
715,170
5,538
18,954
873,759


Additions
1,900
148,566
5,320
2,882
158,668


Disposals
-
(587)
-
-
(587)



At 31 August 2023

135,997
863,149
10,858
21,836
1,031,840



Depreciation


At 1 September 2022
90,458
412,517
3,903
12,845
519,723


Charge for the year on owned assets
10,459
67,795
790
2,455
81,499


Disposals
-
(318)
-
-
(318)



At 31 August 2023

100,917
479,994
4,693
15,300
600,904



Net book value



At 31 August 2023
35,080
383,155
6,165
6,536
430,936



At 31 August 2022
43,639
302,653
1,635
6,109
354,036

Page 7

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Stocks

2023
2022
£
£

Raw materials
97,250
84,500

Finished goods and goods for resale
191,450
222,200

288,700
306,700



6.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
-
53,420

-
53,420


2023
2022
£
£

Due within one year

Trade debtors
403,071
354,562

Other debtors
1,350
-

Prepayments and accrued income
35,398
33,258

Deferred tax asset
25,185
10,000

465,004
397,820


Page 8

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
10,000
10,000

Trade creditors
267,014
218,095

Other taxation and social security
72,464
76,936

Other creditors
188,699
79,186

Accruals and deferred income
1,900
1,725

540,077
385,942


A coronavirus bounce back loan of £50,000 was taken out during the year ended 31st August 2021 which was interest free for the first 12 months followed by interest at the rate of 2.5% per annum from 4th March 2022. The amount repayable after 12 months is shown within creditors falling due after more than one year.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
25,000
35,000

Other creditors
489,234
478,878

514,234
513,878


A coronavirus bounce back loan of £50,000 was taken out during the year ended 31st August 2021 which was interest free for the first 12 months followed by interest at the rate of 2.5% per annum from 4th March 2022. The amount repayable within 12 months is shown within creditors falling due within one year.
Other creditors include loans from Directors to the value of £400,000 (2022 - £423,020). These loans carry interest at the rate of 4% above the Royal Bank of Scotland Base Rate.

Page 9

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loan
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loan
25,000
35,000


25,000
35,000


35,000
45,000



10.


Deferred taxation




2023


£






At beginning of year
63,420


Charged to profit or loss
(38,235)



At end of year
25,185

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(105,513)
(65,015)

Tax losses carried forward
130,698
128,435

25,185
63,420

Page 10

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



270,000 (2022 - 520,000) Ordinary shares of £1.00 each
270,000
520,000

The directors approved a capital reduction of £250,000 on the 11th July 2023. 



12.


Commitments under operating leases

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
68,000
68,000

Later than 1 year and not later than 5 years
158,667
226,667

226,667
294,667

 
Page 11