Company registration number 08295461 (England and Wales)
MICROSS FOODS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MICROSS FOODS HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Martin Rome
Coldbath Square Management Limited
Company number
08295461
Registered office
Community House
29-31 Eastways
Witham
Essex
England
CM8 3YQ
Accountants
Kingswood LLP
3 Coldbath Square
London
EC1R 5HL
MICROSS FOODS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
MICROSS FOODS HOLDINGS LIMITED
BALANCE SHEET
AS AT
25 SEPTEMBER 2023
25 September 2023
- 1 -
25 September 2023
26 March 2022
Notes
£
£
£
£
Fixed assets
Investments
4
-
0
85
Current assets
Debtors
5
295,361
677,570
Cash at bank and in hand
102,120
4,741
397,481
682,311
Creditors: amounts falling due within one year
6
(394,561)
(645,718)
Net current assets
2,920
36,593
Net assets
2,920
36,678
Capital and reserves
Called up share capital
7
122,069
122,069
Capital redemption reserve
1,301
1,301
Profit and loss reserves
(120,450)
(86,692)
Total equity
2,920
36,678

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 period ended 25 September 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 period 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 financial statements were approved by the board of directors and authorised for issue on 4 March 2024 and are signed on its behalf by:
Martin Rome
Director
Company Registration No. 08295461
MICROSS FOODS HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 25 SEPTEMBER 2023
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 28 March 2021
122,069
1,301
(81,002)
42,368
Year ended 26 March 2022:
Loss and total comprehensive income for the year
-
-
(5,690)
(5,690)
Balance at 26 March 2022
122,069
1,301
(86,692)
36,678
Period ended 25 September 2023:
Loss and total comprehensive income for the period
-
-
(33,758)
(33,758)
Balance at 25 September 2023
122,069
1,301
(120,450)
2,920
MICROSS FOODS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Micross Foods Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Community House, 29-31 Eastways, Witham, Essex, England, CM8 3YQ.

1.1
Reporting period

As part of a reorganisation the company extended its accounting reporting period from 31 March 2023 to 30 September 2023. The comparative figures have not been amended.

1.2
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

MICROSS FOODS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies and other loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

1.6
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.

1.7
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.

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.

MICROSS FOODS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
1
1
3
Amounts written off investments
2023
2022
£
£
Gain on disposal of fixed asset investments
50,000
-
0
Compensation payable
(50,000)
-
-
-
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
-
0
85

The company has not designated any financial assets that are not classified as financial assets at fair value through profit or loss.

Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 27 March 2022
85
Disposals
(85)
At 25 September 2023
-
Carrying amount
At 25 September 2023
-
At 26 March 2022
85
MICROSS FOODS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
677,570
Other debtors
295,361
-
0
295,361
677,570
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
377,361
640,718
Accruals and deferred income
17,200
5,000
394,561
645,718
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
122,069
122,069
122,069
122,069
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