Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31true2022-08-01falseProduction of meat and poultry products33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10166116 2022-08-01 2023-07-31 10166116 2021-08-01 2022-07-31 10166116 2023-07-31 10166116 2022-07-31 10166116 c:Director2 2022-08-01 2023-07-31 10166116 d:PlantMachinery 2022-08-01 2023-07-31 10166116 d:PlantMachinery 2023-07-31 10166116 d:PlantMachinery 2022-07-31 10166116 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10166116 d:CurrentFinancialInstruments 2023-07-31 10166116 d:CurrentFinancialInstruments 2022-07-31 10166116 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10166116 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 10166116 d:ShareCapital 2023-07-31 10166116 d:ShareCapital 2022-07-31 10166116 d:RetainedEarningsAccumulatedLosses 2023-07-31 10166116 d:RetainedEarningsAccumulatedLosses 2022-07-31 10166116 c:FRS102 2022-08-01 2023-07-31 10166116 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10166116 c:FullAccounts 2022-08-01 2023-07-31 10166116 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 10166116










TRAILHEAD FINE FOODS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
TRAILHEAD FINE FOODS LIMITED
REGISTERED NUMBER: 10166116

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
725
503

  
725
503

Current assets
  

Stocks
  
12,312
12,706

Debtors: amounts falling due within one year
 5 
9,453
4,834

Cash at bank and in hand
 6 
6,808
18,261

  
28,573
35,801

Creditors: amounts falling due within one year
 7 
(137,992)
(113,796)

Net current liabilities
  
 
 
(109,419)
 
 
(77,995)

Total assets less current liabilities
  
(108,694)
(77,492)

  

Net liabilities
  
(108,694)
(77,492)


Capital and reserves
  

Called up share capital 
  
40,000
40,000

Profit and loss account
  
(148,694)
(117,492)

  
(108,694)
(77,492)


Page 1

 
TRAILHEAD FINE FOODS LIMITED
REGISTERED NUMBER: 10166116
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D A Watkins OBE
Director

Date: 31 January 2024

Page 2

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The Company is a private company limited by shares and is incorperated and domiciled in the UK. The address of its registered office is Ty Cambrian, Welshpool, Powys, SY21 8JF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquires, the Directors have a reasonable expectation that the Company has the continued suport of its parent Company and the Directors to  continue  in  operational  existence  for  the  foreseeable  future.  The  Company therefore continues to adopt the going concern basis in preparing its financial statements. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 August 2022
772


Additions
445



At 31 July 2023

1,217



Depreciation


At 1 August 2022
269


Charge for the year on owned assets
223



At 31 July 2023

492



Net book value



At 31 July 2023
725



At 31 July 2022
503


5.


Debtors

2023
2022
£
£


Trade debtors
6,637
3,746

Other debtors
2,816
1,088

9,453
4,834



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
6,808
18,261

6,808
18,261


Page 6

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
32,754
18,698

Amounts owed to group undertakings
101,575
91,575

Other taxation and social security
808
-

Other creditors
2,855
2,715

Accruals and deferred income
-
808

137,992
113,796



8.


Related party transactions

Included in other creditors is a loan from the parent company of £101,575 (2022: £91,575). This amount is considered repayable on demand. 


9.


Controlling party

The Company is under the control of D A Watkins OBE by virtue of his majority shareholding in the Company's parent company, Irfon Valley Lamb Limited.

 
Page 7