Company registration number 03073696 (England and Wales)
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
28,489
28,697
Tangible assets
5
4,247
6,457
Investments
6
38,538
35,676
71,274
70,830
Current assets
Debtors
7
56,717
82,275
Cash at bank and in hand
35,889
10,044
92,606
92,319
Creditors: amounts falling due within one year
8
(180,585)
(198,695)
Net current liabilities
(87,979)
(106,376)
Total assets less current liabilities
(16,705)
(35,546)
Creditors: amounts falling due after more than one year
9
(34,002)
(39,057)
Provisions for liabilities
(6,663)
(6,934)
Net liabilities
(57,370)
(81,537)
Capital and reserves
Called up share capital
30,000
30,000
Profit and loss reserves
(87,370)
(111,537)
Total equity
(57,370)
(81,537)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 November 2023 and are signed on its behalf by:
J C Mellentin
Director
Company Registration No. 03073696
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
The Centre for Food & Health Studies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Gladstone House, 77/79 High Street, Egham, Surrey, United Kingdom, TW20 9HY.
The principal place of business of the company is Parkshot House, 5 Kew Road, Richmond, Surrey, TW9 2PR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis which is dependent on the continued support of the company's directors. The directors have indicated their intention to provide financial support for a period of not less than 12 months from the date of signing the accounts. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do no include any adjustments that would result from a withdrawal of such financial support.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for subscriptions and services provided, excluding value added tax.
Turnover represents licences invoiced to customers, which are recognised in the income statement over the period to which they relate. Any amounts relating to the next financial year are treated as deferred income on the balance sheet.
1.4
Intangible fixed assets other than goodwill
Website development costs are initially measured at cost. The costs relate to "new build" development and the asset will be amortised after completion of the build. After initial recognition and completion of the development, the assets will be measured at cost less amortisation.
Website development
3 years straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property
Over the term of the lease
Fixtures and fittings
33% on cost
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Fixed asset investments
Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.7
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
Basic financial assets
Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.
Basic financial liabilities
Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at the prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense..
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.14
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.15
Foreign exchange
Transactions in currencies other than sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
8
9
4
Intangible fixed assets
Website
development
Total
£
£
Cost
At 1 April 2022
171,836
171,836
Additions
19,200
19,200
At 31 March 2023
191,036
191,036
Amortisation and impairment
At 1 April 2022
143,139
143,139
Amortisation charged for the year
19,408
19,408
At 31 March 2023
162,547
162,547
Carrying amount
At 31 March 2023
28,489
28,489
At 31 March 2022
28,697
28,697
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
5
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2022
19,945
111,725
131,670
Additions
1,166
1,166
Disposals
(18,707)
(87,918)
(106,625)
At 31 March 2023
1,238
24,973
26,211
Depreciation and impairment
At 1 April 2022
19,945
105,268
125,213
Depreciation charged in the year
3,376
3,376
Eliminated in respect of disposals
(18,707)
(87,918)
(106,625)
At 31 March 2023
1,238
20,726
21,964
Carrying amount
At 31 March 2023
4,247
4,247
At 31 March 2022
6,457
6,457
6
Fixed asset investments
2023
2022
£
£
Other investments other than loans
38,538
35,676
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022
35,676
Valuation changes
2,862
At 31 March 2023
38,538
Carrying amount
At 31 March 2023
38,538
At 31 March 2022
35,676
THE CENTRE FOR FOOD & HEALTH STUDIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
56,512
82,028
Other debtors
205
247
56,717
82,275
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,054
10,367
Trade creditors
6,266
11,657
Corporation tax
6,884
Other taxation and social security
8,100
11,666
Other creditors
161,165
158,121
180,585
198,695
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
34,002
39,057
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
12,449
18,038
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
10,500
11
Directors' transactions
At the balance sheet date, the company owed the directors £5,196 (2022: £29,510). There has been no interest recognised on the loan and it is repayable on demand.