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REGISTERED NUMBER: 01034090 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

GANDHI ORIENTAL FOODS LIMITED

GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)






Contents of the Financial Statements
for the year ended 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GANDHI ORIENTAL FOODS LIMITED

Company Information
for the year ended 30 APRIL 2023







DIRECTORS: Mr J.C. Gandhi
Mr D.A. Mody
Mr N.C. Mody
Mr P.A. Mody
Mrs M.J. Gandhi





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 01034090 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Statement of Financial Position
30 APRIL 2023

30/4/23 30/4/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,524,755 2,815,182
Investments 6 85,620 85,620
4,610,375 2,900,802

CURRENT ASSETS
Stocks 1,618,866 1,884,584
Debtors 7 3,487,825 3,331,822
Cash at bank 444,842 363,792
5,551,533 5,580,198
CREDITORS
Amounts falling due within one year 8 972,802 1,095,536
NET CURRENT ASSETS 4,578,731 4,484,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,189,106

7,385,464

CREDITORS
Amounts falling due after more than one
year

9

(175,295

)

(175,295

)

PROVISIONS FOR LIABILITIES 11 (445,899 ) (6,363 )
NET ASSETS 8,567,912 7,203,806

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Revaluation reserve 12 1,288,653 -
Retained earnings 7,029,259 6,953,806
SHAREHOLDERS' FUNDS 8,567,912 7,203,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Statement of Financial Position - continued
30 APRIL 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 by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





Mr J.C. Gandhi - Director


GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Notes to the Financial Statements
for the year ended 30 APRIL 2023

1. STATUTORY INFORMATION

Gandhi Oriental Foods 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customers.

Goodwill
Acquired goodwill is written off in equal instalments over the its life.

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.

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 - Building only over 100 years on building
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Stocks
Stock is valued at the lower of cost and net realisable value. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.


GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

2. ACCOUNTING POLICIES - continued
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.

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
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 26 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 30,000
AMORTISATION
At 1 May 2022
and 30 April 2023 30,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2022 2,873,517 692,966 109,653 177,888 3,854,024
Additions - 37,924 3,170 - 41,094
Revaluations 1,736,483 - - - 1,736,483
At 30 April 2023 4,610,000 730,890 112,823 177,888 5,631,601
DEPRECIATION
At 1 May 2022 143,675 636,754 104,481 153,932 1,038,842
Charge for year 36,395 23,534 2,086 5,989 68,004
At 30 April 2023 180,070 660,288 106,567 159,921 1,106,846
NET BOOK VALUE
At 30 April 2023 4,429,930 70,602 6,256 17,967 4,524,755
At 30 April 2022 2,729,842 56,212 5,172 23,956 2,815,182

Cost or valuation at 30 April 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2023 1,736,483 - - - 1,736,483
Cost 2,873,517 730,890 112,823 177,888 3,895,118
4,610,000 730,890 112,823 177,888 5,631,601

The fair value of the freehold properties at April 2023 has been arrived at on the basis of a professional valuation carried out at that date by Copping Joyce, Chartered Certified valuers.

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 May 2022
and 30 April 2023 85,620
NET BOOK VALUE
At 30 April 2023 85,620
At 30 April 2022 85,620

The above represent investments into two private limited companies at cost. The directors believe that the investment value represent the current market value of those shares.

GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

7. DEBTORS
30/4/23 30/4/22
£    £   
Amounts falling due within one year:
Trade debtors 1,419,179 1,403,007
Amounts owed by participating interests 42,651 42,651
Amounts owed by associates 1,720,063 1,508,549
Other debtors 206,932 278,615
3,388,825 3,232,822

Amounts falling due after more than one year:
Amounts owed by participating interests 99,000 99,000

Aggregate amounts 3,487,825 3,331,822

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Trade creditors 811,009 875,056
Taxation and social security 35,579 29,347
Other creditors 126,214 191,133
972,802 1,095,536

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/23 30/4/22
£    £   
Other creditors 175,295 175,295

10. LEASING AGREEMENTS
At 30 April 2023 the company had annual commitments of £74,030 (2022- £81,541) under non-cancellable operating lease which expire within two to five years.

11. PROVISIONS FOR LIABILITIES
30/4/23 30/4/22
£    £   
Deferred tax
Accelerated capital allowances 11,778 6,363
Deferred tax 434,121 -
445,899 6,363

Deferred
tax
£   
Balance at 1 May 2022 6,363
Provided during year 439,536
Balance at 30 April 2023 445,899

GANDHI ORIENTAL FOODS LIMITED (REGISTERED NUMBER: 01034090)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

12. RESERVES
Revaluation
reserve
£   
Revaluation reserve 1,288,653

At 30 April 2023 1,288,653

13. RELATED PARTY DISCLOSURES

The company is owed £141,651 (2022- £141,651) by Mongoose Brewing Company Ltd, a connected company. This balance is split between due within one year of £42,651 and due in more than one year of £99,000.

14. ULTIMATE CONTROLLING PARTY

The company is under control of the directors who are also the major shareholders.