2 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2021 4,973 1,020 5,993 2,398 1,360 3,758 2,235 2,575 xbrli:pure xbrli:shares iso4217:GBP 10845377 2022-07-01 2023-06-30 10845377 2023-06-30 10845377 2022-06-30 10845377 2021-07-01 2022-06-30 10845377 2022-06-30 10845377 2021-06-30 10845377 bus:LeadAgentIfApplicable 2022-07-01 2023-06-30 10845377 bus:Director1 2022-07-01 2023-06-30 10845377 core:WithinOneYear 2023-06-30 10845377 core:WithinOneYear 2022-06-30 10845377 core:AfterOneYear 2022-06-30 10845377 core:ShareCapital 2023-06-30 10845377 core:ShareCapital 2022-06-30 10845377 core:RetainedEarningsAccumulatedLosses 2023-06-30 10845377 core:RetainedEarningsAccumulatedLosses 2022-06-30 10845377 bus:SmallEntities 2022-07-01 2023-06-30 10845377 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10845377 bus:FullAccounts 2022-07-01 2023-06-30 10845377 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10845377 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10845377 core:OfficeEquipment 2022-07-01 2023-06-30 10845377 core:OfficeEquipment 2022-06-30 10845377 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 10845377
Other Foods Ltd
Filleted Unaudited Financial Statements
30 June 2023
Other Foods Ltd
Financial Statements
Year ended 30 June 2023
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Other Foods Ltd
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Other Foods Ltd
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Other Foods Ltd for the year ended 30 June 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Other Foods Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of Other Foods Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Other Foods Ltd and its director for our work or for this report.
It is your duty to ensure that Other Foods Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Other Foods Ltd. You consider that Other Foods Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Other Foods 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.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
12 March 2024
Other Foods Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
2,235
2,575
Current assets
Stocks
65,000
43,000
Debtors
7
120,451
91,712
Cash at bank and in hand
53,685
23,715
---------
---------
239,136
158,427
Creditors: amounts falling due within one year
8
312,995
319,279
---------
---------
Net current liabilities
73,859
160,852
--------
---------
Total assets less current liabilities
( 71,624)
( 158,277)
Creditors: amounts falling due after more than one year
9
1,042
--------
---------
Net liabilities
( 71,624)
( 159,319)
--------
---------
Capital and reserves
Called up share capital
70
70
Profit and loss account
( 71,694)
( 159,389)
--------
---------
Shareholders deficit
( 71,624)
( 159,319)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Other Foods Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mrs F Yang
Director
Company registration number: 10845377
Other Foods Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, 207 Regent Street, London, United Kingdom, W1B 3HH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the year end date, the balance sheet portrayed a net adverse current liquidity position. Despite this, the financial statements have been prepared on a going concern basis, which the director considers to be appropriate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Government grants
Income from Government grants is in respect of the Coronavirus Job Retention Scheme.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
6. Tangible assets
Equipment
£
Cost
At 1 July 2022
4,973
Additions
1,020
-------
At 30 June 2023
5,993
-------
Depreciation
At 1 July 2022
2,398
Charge for the year
1,360
-------
At 30 June 2023
3,758
-------
Carrying amount
At 30 June 2023
2,235
-------
At 30 June 2022
2,575
-------
7. Debtors
2023
2022
£
£
Trade debtors
108,802
87,167
Other debtors
11,649
4,545
---------
--------
120,451
91,712
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,043
2,499
Social security and other taxes
755
803
Other creditors
311,197
315,977
---------
---------
312,995
319,279
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,042
----
-------
10. Related party transactions
Included within other creditors at the year end was £202,284 (2022 £202,284)in respect of a loan from a family member of the director. The loan is interest free with no formal repayment terms.