Caseware UK (AP4) 2022.0.179 2022.0.179 2022-08-312022-08-312021-09-01falseSale of food248truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12625759 2021-09-01 2022-08-31 12625759 2020-09-01 2021-08-31 12625759 2022-08-31 12625759 2021-08-31 12625759 c:Director1 2021-09-01 2022-08-31 12625759 d:PlantMachinery 2021-09-01 2022-08-31 12625759 d:PlantMachinery 2022-08-31 12625759 d:PlantMachinery 2021-08-31 12625759 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-09-01 2022-08-31 12625759 d:FurnitureFittings 2021-09-01 2022-08-31 12625759 d:FurnitureFittings 2022-08-31 12625759 d:FurnitureFittings 2021-08-31 12625759 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-09-01 2022-08-31 12625759 d:ComputerEquipment 2021-09-01 2022-08-31 12625759 d:ComputerEquipment 2022-08-31 12625759 d:ComputerEquipment 2021-08-31 12625759 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-09-01 2022-08-31 12625759 d:OwnedOrFreeholdAssets 2021-09-01 2022-08-31 12625759 d:CurrentFinancialInstruments 2022-08-31 12625759 d:CurrentFinancialInstruments 2021-08-31 12625759 d:Non-currentFinancialInstruments 2022-08-31 12625759 d:Non-currentFinancialInstruments 2021-08-31 12625759 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12625759 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 12625759 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 12625759 d:Non-currentFinancialInstruments d:AfterOneYear 2021-08-31 12625759 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 12625759 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-08-31 12625759 d:ShareCapital 2022-08-31 12625759 d:ShareCapital 2021-08-31 12625759 d:RetainedEarningsAccumulatedLosses 2022-08-31 12625759 d:RetainedEarningsAccumulatedLosses 2021-08-31 12625759 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 12625759 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-08-31 12625759 c:FRS102 2021-09-01 2022-08-31 12625759 c:AuditExemptWithAccountantsReport 2021-09-01 2022-08-31 12625759 c:FullAccounts 2021-09-01 2022-08-31 12625759 c:PrivateLimitedCompanyLtd 2021-09-01 2022-08-31 12625759 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 12625759 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-08-31 iso4217:GBP xbrli:pure

Registered number: 12625759










AA FOOD CONCEPTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2022

 
AA FOOD CONCEPTS LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFAA FOOD CONCEPTS LTD
FOR THE YEAR ENDED 31 AUGUST 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AA Food Concepts Ltd for the year ended 31 August 2022 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of AA Food Concepts Ltd, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of AA Food Concepts Ltd and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AA Food Concepts Ltd and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that AA Food Concepts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that AA Food Concepts Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of AA Food Concepts Ltd. 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.







Shipleys Tax Planning

24 November 2023
Page 1

 
AA FOOD CONCEPTS LTD
REGISTERED NUMBER: 12625759

BALANCE SHEET
AS AT 31 AUGUST 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
96,708
35,818

  
96,708
35,818

Current assets
  

Stocks
  
4,270
4,270

Debtors: amounts falling due within one year
 5 
36,107
13,886

Cash at bank and in hand
 6 
1,451
2,490

  
41,828
20,646

Creditors: amounts falling due within one year
 7 
(116,891)
(33,260)

Net current liabilities
  
 
 
(75,063)
 
 
(12,614)

Total assets less current liabilities
  
21,645
23,204

Creditors: amounts falling due after more than one year
 8 
(103,437)
-

  

Net (liabilities)/assets
  
(81,792)
23,204


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(81,892)
23,104

  
(81,792)
23,204


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.

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 24 November 2023.



Page 2

 
AA FOOD CONCEPTS LTD
REGISTERED NUMBER: 12625759

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2022




Mir Amjad Alikhan
Director

The notes on pages 4 to 12 form part of these financial statements.
Page 3

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

1.


General information

AA Food Concepts Ltd is a company domiciled in England & Wales, registration number 12625759. The
registered office is Unit 13 Delta Court Sky Business Park, Auckley, Doncaster, DN9 3GN.

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 and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

Page 4

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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:

Plant and machinery
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
33%

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.

 
2.7

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 SELECT OR ENTER METHOD 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.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

 
2.10

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 6

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Page 7

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2021 - 8).

Page 8

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2021
33,241
8,410
6,870
48,521


Additions
61,751
53,844
-
115,595



At 31 August 2022

94,992
62,254
6,870
164,116



Depreciation


At 1 September 2021
8,310
2,103
2,290
12,703


Charge for the year on owned assets
31,664
20,751
2,290
54,705



At 31 August 2022

39,974
22,854
4,580
67,408



Net book value



At 31 August 2022
55,018
39,400
2,290
96,708



At 31 August 2021
24,931
6,307
4,580
35,818
Page 9

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

5.


Debtors

2022
2021
£
£


Other debtors
36,107
13,886

36,107
13,886



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,451
2,490

1,451
2,490



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
114,086
28,985

Accruals and deferred income
2,805
4,275

116,891
33,260



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
25,558
-

Net obligations under finance leases and hire purchase contracts
77,879
-

103,437
-


Page 10

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£


Amounts falling due 1-2 years

Bank loans
25,558
-


25,558
-



25,558
-



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Between 1-5 years
77,879
-

77,879
-


11.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,451
2,490




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


12.


Related party transactions

During the year the company loaned General Catering Ltd (a company which is controlled by the director
Amjad Alikhan) £10,605 
(2021:£3,764). At the balance sheet date other debtors included £14,369 as amounts owed to the company.
During the year the director loaned the company £114,086 
(2021: NIL). At the balance sheet date other creditors included £114,086 as amounts owed to the director. 

Page 11

 
AA FOOD CONCEPTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

13.


Controlling party

The company is controlled by the director Amjad Alikhan.

Page 12