Registered number
02651200
DINA FOODS LIMITED
Annual Report and Financial Statements
30 June 2023
DINA FOODS LIMITED
Report and accounts
Contents
Page
Company information 1
Directors' report 2 - 3
Strategic report 4 - 5
Independent auditor's report 6 - 7
Income statement 8
Statement of financial position 9
Statement of changes in equity 10
Statement of cash flows 11
Notes to the financial statements 12 - 19
DINA FOODS LIMITED
Company Information
Directors
Mr Souheil Haddad
Mr Fadi Haddad
Mr Samir Haddad
Secretary
Mr Mahmoud Haidari
Auditors
Cecil Kaye
165 Nunhead Grove
London
SE15 3LS
Registered office
165 Nunhead Grove
Park Royal
London
SE15 3LS
Registered number
02651200
DINA FOODS LIMITED
Registered number: 02651200
Directors' Report
The directors present their report and financial statements for the year ended 30 June 2023.
The company's principal activity during the year continued to be Bakery in the production and supply of a Range of authentic Mediterranean ( Lebanese ) speciality bread, confectionary and savoury products
Future developments
Having successfully completed the first 5 years strategic plan (2017/18 - 2022/23) and capitalising on the major achievements and learnings of the last 5 years, the company's next 3 year strategic plans sharply focused on: continued and enhanced efforts to maintain/improve the solid and healthy sales growth pattern of the previous years and achievement of significant improvement of profitability through mainly major improvements of the efficiency of the manufacturing operation including supply management, enhanced quality control and assurance procedures and investment in labour saving and more efficient manufacturing equipment
Research and development
Dina Foods Limited considers new products development and successful introduction of new products as a major part of its business. The company aims at maintaining existing business and capitalising on new opportunities. It is gratifying to note that the company undertook a number of qualifying Research and Development projects in the year including a bespoke Baklawa and introduction of new Paninette bread with specific nutritional content to the product. The Directors will continue to channel funds towards innovative NPD projects with high consumer appeal and potential of commanding higher price or higher margin thresholds.
Financial instrument risk
The company is reliant on the major supermarkets for contracts which are subject to periodic review. Renewals of these contracts are uncertain as the major supermarkets are always pursuing a price reduction policy to the detriment of their suppliers.
Directors
The following persons served as directors during the year:
Mr Souheil Haddad
Mr Fadi Haddad
Mr Samir Haddad
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Acquisition of own shares
At the meeting of the Board of Directors of Dina Foods Limited ("the Company" ) on 21 April
2023, the Board agreed to purchase its own shares in aggregate of 8,000 ordinary shares of
of £1.00 each in the capital of the Company for an aggregate considderation of £1,532,608
from Rola Haddad, Pola Haddad, Ziad Haddad and Elie Haddad . Each seller holding 2,000 of
the said shares at a price per share of £191,576
The details of the shares purchased are as follows:
Class of share Ordinary shares
Amount paid £1,540,273
Nominal value of shares £8,000
Number of shares 8,000
Percentage of class purchased 40.0%
The directors are of the opinion that:
(a) there will be no grounds own which the company could be found unable to pay its debts
immediately following the payment out of capital
(b) as regards its prospects for the year following and their intentions with respect to the
management of the company's business , the company will be able to carry on business
as a going concern and be able to pay its debts as they fall due, throughout the year.
This report was approved by the board on 20 December 2023 and signed by its order.
Mr Mahmoud Haidari
Secretary
DINA FOODS LIMITED
Strategic Report
Business Review
Turnover increased by 17% to £14,720,484 exceeding the strategic budget of £14,000,000
set for the year by £720,484. This has been achieved despite the continued issues relating to
supply of raw materials, more stringent trading policies applied by the major supermarket/chains
and overall dwindling consumer disposable income.
While various efficiency improvements strategies were developed and implemented during the
year, the growth under the above-mentioned adverse business conditions, did, nevertheless
results in a slightly lower gross profit ratio of 28.7% as compared to the company's norm over
30% and previous years 31.5% ratios
Key Performance Indicators (KPI's)
The Board monitors the progress of the Company by reference to the following KPI's.
The figures indicate a drop in the key performance ratios, however these are expected by the
directors due to continued increases in minimum wage and overheads
2023 2022
Gross profit ratio 28.68% 31.51%
Net profit ratio 2.18% 2.13%
Return on capital employed 16.04% 13.39%
Sale and Marketing
The top ten customers of the business account for over 60% of the total sales indicating our
deeper penetration and wider distribution within the key grocery market sector
Export remains one of he important and strategic targets for the company's current and future
growth potential, currently contributing over 30% if the confectionary business and close to 14%
of Private labels especially within the "Food to go" and "Sandwich making" growth markets, are
another key strategically identified focus categories which currently contribute close to 26% of
the bakery business
Drive efficiencies
As the leading manufacturing and suppliers of the unique range of the authentic Mediterranean
bread, confectionary and savoury products, the company's goal and strategic thrust continues
to focus on building strong and ensuring business relationships with our current and growing list
of reputable and important distribution channels, continued emphasis on quality and service as the
key elements of operating principles, and introduction of successful, consumer relevant innovative
products to the existing and emerging market segments.
Principal risks and uncertainties
The company has established a risk committee that meets quarterly and which evaluates the
company's risk appetite. The principal risk and uncertainties facing company are broadly grouped
as competive, legislative and financial instrument risk
> Competitive and Financial Risks
The company is reliant on the major supermarkets for contracts which are subject to periodic
reviews Renewals of these contracts are uncertain as the major supermarkets are always pursuing
price reduction policies often to the detriment of their suppliers.
> Legislative Risks
These are mainly Health and Safety issuedsand to a large extent, compliance imposes costs and
failure to comply with the standard could materially affect the company's ability to operate.
This report was approved by the board on 20 December 2023 and signed by its order.
Mr Mahmoud Haidari
Secretary
DINA FOODS LIMITED
Independent auditor's report
to the members of DINA FOODS LIMITED
Opinion
We have audited the financial statements of DINA FOODS LIMITED (the 'company') for the year ended 30 June 2023 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below
Discussions with and enquiries of management and those charged with governance were held with a view to identifying
those laws and regulations that could be expected to have a materials impact on the financial statements. The outcome
of these discussions and enquiries as well as to where and how fraud may occur in the entity
The following laws and regulations were identified as being of significant to the entity
> Those laws and regulations of which non-compliance may be fundamental to the operating aspects of the business
and therefore may have a material effect on the financial statements include environmental regulations and health
and safety legislation
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-
compliance with laws and regulations) comprised of enquiries of management and those charged with governance as to
whether the entity complies with such laws and regulations: enquiries with the same concerning any actual or potential
litigation or claims; inspection of relevant legal correspondence and the performance of analytical review to identify
unexpected movement in account balances which may be indicate of fraud.
Mr Bobby Nunoo
(Senior Statutory Auditor) 165 Nunhead Grove
for and on behalf of
Cecil Kaye
Statutory Auditor London
20 December 2023 SE15 3LS
DINA FOODS LIMITED
Income Statement
for the year ended 30 June 2023
Notes 2023 2022
£ £
Turnover 2 14,720,484 12,511,373
Cost of sales (10,512,488) (8,568,279)
Gross profit 4,207,996 3,943,094
Distribution costs (924,596) (737,973)
Administrative expenses (2,931,537) (2,933,001)
Other operating income 91,976 65,837
Operating profit 3 443,839 337,957
(Loss)/profit on sale of fixed assets (39,001) 8,461
Change in market value of listed investments (11,664) (133,893)
Interest receivable 32,195 58,836
Interest payable 6 (119,436) (5,414)
Profit on ordinary activities before taxation 305,933 265,947
Tax on profit on ordinary activities 7 1,946 (70,140)
Profit and total comprehensive income for the year 307,879 195,807
The notes on pages 12 to 19 form part of these financial statements
DINA FOODS LIMITED
Statement of Financial Position
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 8 1,187,255 1,180,848
Current assets
Stocks 9 990,520 811,792
Debtors 10 4,474,987 2,665,871
Investments held as current assets 11 2,027,359 2,839,023
Cash at bank and in hand 43,059 1,899,503
7,535,925 8,216,189
Creditors: amounts falling due within one year 12 (1,757,093) (1,864,874)
Net current assets 5,778,832 6,351,315
Total assets less current liabilities 6,966,087 7,532,163
Creditors: amounts falling due after more than one year 13 (1,106,384) (438,120)
Provisions for liabilities
Deferred taxation 15 (178,817) (180,763)
Net assets 5,680,886 6,913,280
Capital and reserves
Called up share capital 16 12,000 20,000
Capital redemption reserve 17 8,000 -
Profit and loss account 18 5,660,886 6,893,280
Total equity 5,680,886 6,913,280
Mr Souheil Haddad Mr Fadi Haddad
Director Director
Approved by the board on 20 December 2023
DINA FOODS LIMITED
Statement of Changes in Equity
for the year ended 30 June 2023
Share Capital Other Profit Total
capital redemption reserve and loss
reserve account
£ £ £ £ £
At 1 July 2021 20,000 - 6,697,473 6,717,473
Profit for the financial year 195,807 195,807
At 30 June 2022 20,000 - 6,893,280 6,913,280
At 1 July 2022 20,000 - 6,893,280 6,913,280
Profit for the financial year 307,879 307,879
Transfer to Capital redemption reserve 8,000 - 8,000
Other comprehensive income for the financial year - - - -
Total comprehensive income for the financial year - 8,000 - 307,879 315,879
Purchase of own shares (1,540,273) (1,540,273)
Shares redeemed (8,000) (8,000)
At 30 June 2023 12,000 8,000 - 5,660,886 5,680,886
DINA FOODS LIMITED
Statement of Cash Flows
for the year ended 30 June 2023
Notes 2023 2022
£ £
Operating activities
Profit for the financial year 307,879 195,807
Adjustments for:
Loss/(profit) on sale of fixed assets 39,001 (8,461)
Loss on revaluation of investments 11,664 133,893
Interest receivable (32,195) (58,836)
Interest payable 119,436 5,414
Tax on profit on ordinary activities (1,946) 70,140
Depreciation 225,873 180,189
Increase in stocks (178,728) (248,951)
(Increase)/decrease in debtors (1,809,116) 2,683,108
(Decrease)/increase in creditors (399,583) 231,916
(1,717,715) 3,184,219
Interest received 32,195 58,836
Interest paid (110,322) (1,077)
Interest element of finance lease payments (9,114) (4,337)
Cash (used in)/generated by operating activities (1,804,956) 3,237,641
Investing activities
Payments to acquire tangible fixed assets (299,615) (622,624)
Proceeds from sale of tangible fixed assets 28,334 33,086
Change in market value of listed investments - (1,968,401)
Proceeds from sale of listed investments 800,000 -
Cash generated by/(used in) investing activities 528,719 (2,557,939)
Financing activities
Purchase of own shares (1,540,273) -
Transfer to capital redemption reserve 8,000 -
Cost of shares redeemed (8,000) -
Repayment of loans 651,916 (6,751)
Capital element of finance lease payments 80,319 102,967
Cash (used in)/generated by financing activities (808,038) 96,216
Net cash (used)/generated
Cash (used in)/generated by operating activities (1,804,956) 3,237,641
Cash generated by/(used in) investing activities 528,719 (2,557,939)
Cash (used in)/generated by financing activities (808,038) 96,216
Net cash (used)/generated (2,084,275) 775,918
Cash and cash equivalents at 1 July 1,899,503 1,123,585
Cash and cash equivalents at 30 June (184,772) 1,899,503
Cash and cash equivalents comprise:
Cash at bank 43,059 1,899,503
Bank overdrafts 12 (227,831) -
(184,772) 1,899,503
DINA FOODS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Building improvement over the lease term
Plant and machinery 15%
Motor vehicles 25%
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to money purchased plans are expensed in the period to which they relate.
2 Analysis of turnover 2023 2022
£ £
Sale of goods 14,720,484 12,511,373
By geographical market:
UK 12,689,567 11,272,628
Europe 2,030,917 1,238,745
14,720,484 12,511,373
3 Operating profit 2023 2022
£ £
This is stated after charging:
Depreciation of owned fixed assets 162,472 129,870
Depreciation of assets held under finance leases and hire purchase contracts 63,401 50,319
Research and development expenditure - 417,904
Auditors' remuneration for audit services 6,345 6,345
4 Directors' emoluments 2023 2022
£ £
Emoluments 122,500 120,000
Company contributions to money purchased pension plans 220,000 260,000
342,500 380,000
Number of directors to whom retirement benefits accrued: 2023 2022
Number Number
Money purchased plans 3 3
5 Staff costs 2023 2022
£ £
Wages and salaries 5,202,949 4,026,013
Social security costs 354,257 319,829
Other pension costs 286,038 318,360
5,843,244 4,664,202
Average number of employees during the year Number Number
Administration 13 15
Development 7 7
Distribution 6 1
Manufacturing 163 170
Marketing 3 3
192 196
6 Interest payable 2023 2022
£ £
Bank loans and overdrafts 110,322 1,077
Finance charges payable under finance leases and hire purchase contracts 9,114 4,337
119,436 5,414
7 Taxation 2023 2022
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period - -
Deferred tax:
Origination and reversal of timing differences (1,946) 70,140
Tax on (loss)/profit on ordinary activities (1,946) 70,140
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2023 2022
£ £
Profit on ordinary activities before tax 305,933 265,947
Standard rate of corporation tax in the UK 20.50% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 62,716 50,530
Effects of:
Expenses not deductible for tax purposes (62,716) (50,530)
Current tax charge for period - -
Factors that may affect future tax charges
8 Tangible fixed assets
Building improvments Plant and machinery Motor vehicle Total
At cost At cost At cost
£ £ £ £
Cost or valuation
At 1 July 2022 606,684 3,605,094 312,232 4,524,010
Additions - 170,567 129,048 299,615
Disposals - - (74,952) (74,952)
At 30 June 2023 606,684 3,775,661 366,328 4,748,673
Depreciation
At 1 July 2022 606,683 2,673,946 62,533 3,343,162
Charge for the year - 165,257 60,616 225,873
On disposals - - (7,617) (7,617)
At 30 June 2023 606,683 2,839,203 115,532 3,561,418
Carrying amount
At 30 June 2023 1 936,458 250,796 1,187,255
At 30 June 2022 1 931,148 249,699 1,180,848
2023 2022
£ £
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts 109,153 37,695
9 Stocks 2023 2022
£ £
Raw materials and consumables 717,213 763,949
Work in progress 210,523 45,683
Finished goods and goods for resale 62,784 2,160
990,520 811,792
10 Debtors 2023 2022
£ £
Trade debtors 1,692,938 1,133,058
Amounts owed by related undertakings 2,633,316 1,352,441
Other debtors 46,424 94,695
Prepayments and accrued income 102,309 85,677
4,474,987 2,665,871
11 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 2,027,359 2,839,023
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments (11,664) (133,893)
(11,664) (133,893)
12 Creditors: amounts falling due within one year 2023 2022
£ £
Bank overdrafts 227,831 -
Bank loans 385,607 143,940
Obligations under finance lease and hire purchase contracts 122,685 86,750
Trade creditors 914,382 1,467,676
Other taxes and social security costs 73,993 76,673
Other creditors 26,250 83,490
Accruals and deferred income 6,345 6,345
1,757,093 1,864,874
13 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 759,558 349,309
Obligations under finance lease and hire purchase contracts 133,195 88,811
Corporation tax - -
Other creditors 213,631 -
1,106,384 438,120
The Coronavirus business interruption loans are guaranteed by the
UK Government.
14 Obligations under finance leases and hire purchase 2023 2022
contracts £ £
Amounts payable:
Within one year 122,685 86,750
Within two to five years 133,195 88,811
255,880 175,561
The Finance lease and Hire purchase contracts are secured on the assets to which they relate
Operating lease payments represent rentals payable by the company for the use of factory
equipment and motor vehicles. Lease rentals are fixed for an average of up to 4 years
15 Deferred taxation 2023 2022
£ £
Accelerated capital allowances 178,817 180,763
2023 2022
£ £
At 1 July 180,763 110,623
(Credited)/charged to the profit and loss account (1,946) 70,140
At 30 June 178,817 180,763
16 Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 12,000 12,000 20,000
17 Capital redemption reserve 2023 2022
£ £
Transfer to capital redemption reserve 8,000 -
At 30 June 8,000 -
18 Profit and loss account 2023 2022
£ £
At 1 July 6,893,280 6,697,473
Profit for the financial year 307,879 195,807
Purchase of own shares (1,540,273) -
At 30 June 5,660,886 6,893,280
19 Related party transactions 2023 2022
£ £
During the period the company entered into transactions with its
related companies Zahra Limited and Rosedale Ventures Limited.
In respect of Zahra Limited, the transactions includes equipment hire
in the ordinary course of business and with Rosedale Ventures Ltd
inter-company loans between the parties.
Balances due to Dina Foods at the end of the financial year were
Zahra Limited 204,121 233,515
Rosedale Ventures Limited 2,429,195 1,118,926
2,633,316 1,352,441
20 Presentation currency
The financial statements are presented in Sterling.
21 Legal form of entity and country of incorporation
DINA FOODS LIMITED is a private company limited by shares and incorporated in England.
22 Principal place of business
The address of the company's principal place of business and registered office is:
24 Gorst Road
Park Royal
London
NW10 6LE
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