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Registered Number: 08425853
England and Wales

 

 

 

INGREDIENTS U.K. LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Ms S B Hewett
Registered Number 08425853
Registered Office 1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
Accountants Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
1
Director's report and financial statements
The director presents her annual report and the financial statements for the year ended 31 December 2023.
Director
The director who served the company throughout the year was as follows:
Ms S B Hewett
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director 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 the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is 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. The director is 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.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Ms S B Hewett
Director

Date approved: 03 April 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Ingredients U.K. Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ingredients U.K. Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Ingredients U.K. Limited, as a body, in accordance with the terms of our engagement letter dated 03 April 2024 Our work has been undertaken solely to prepare for your approval the accounts of Ingredients U.K. Limited and state those matters that we have agreed to state to the Board of Directors of Ingredients U.K. Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ingredients U.K. Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ingredients U.K. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ingredients U.K. Limited. You consider that Ingredients U.K. Limited 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 accounts of Ingredients U.K. Limited. 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 accounts
31 December 2023


Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
03 April 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 44,743    4,355 
44,743    4,355 
Current assets      
Stocks 4 1,073,511    2,530,269 
Debtors 5 877,651    1,129,681 
Cash at bank and in hand 1,145,639    (2,023)
3,096,801    3,657,927 
Creditors: amount falling due within one year 6 (662,989)   (1,677,220)
Net current assets 2,433,812    1,980,707 
 
Total assets less current liabilities 2,478,555    1,985,062 
Provisions for liabilities 7 (11,186)   (827)
Net assets 2,467,369    1,984,235 
 

Capital and reserves
     
Called up share capital 490    694 
Capital Redemption Reserve 8 510    306 
Profit and loss account 2,466,369    1,983,235 
Shareholder's funds 2,467,369    1,984,235 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 03 April 2024 and were signed by:


-------------------------------
Ms S B Hewett
Director
4
General Information
Ingredients U.K. Limited is a private company, limited by shares, registered in England and Wales, registration number 08425853, registration address 1 Andromeda House, Calleva Park, Aldermaston, Berkshire, RG7 8AP. The trading address of the company is Unit 7, Court Farm, Raghill, Aldermaston, Berkshire, RG7 4NT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts, provided in the normal course of business. Revenue is recognised when the goods are dispatched, which is the point at which the risks and rewards of ownership pass to the buyer.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 6 Years Straight Line
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023   3,536    22,134    25,670 
Additions 36,388    7,441    1,432    45,261 
Disposals      
At 31 December 2023 36,388    10,977    23,566    70,931 
Depreciation
At 01 January 2023   2,435    18,880    21,315 
Charge for year 2,091    1,036    1,746    4,873 
On disposals      
At 31 December 2023 2,091    3,471    20,626    26,188 
Net book values
Closing balance as at 31 December 2023 34,297    7,506    2,940    44,743 
Opening balance as at 01 January 2023   1,101    3,254    4,355 


4.

Stocks

2023
£
  2022
£
Work in Progress 22,906    795,526 
Stocks 1,050,605    1,734,743 
1,073,511    2,530,269 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 798,101    1,128,889 
Prepayments & Accrued Income 69,550   
Other Debtors 10,000    792 
877,651    1,129,681 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 77,972    1,121,303 
Corporation Tax 268,963    204,548 
PAYE & Social Security 10,711    9,930 
Accrued Expenses 2,350    2,777 
Other Creditors 16,215    36,254 
Directors' Current Accounts 1,113    19,246 
VAT 285,665    283,162 
662,989    1,677,220 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 11,186    827 
11,186    827 

8.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve 306    204 
Purchase of Own Shares (Nominal Value) 204    102 
510    306 

5