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REGISTERED NUMBER: 09270189 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2023

for

Drivers Foods (Leicester) Limited

Drivers Foods (Leicester) Limited (Registered number: 09270189)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Drivers Foods (Leicester) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S J Driver
J A J Driver
Mrs G A Driver
A J Driver





REGISTERED OFFICE: 185 Scudamore Road
Leicester
LE3 1UQ





REGISTERED NUMBER: 09270189 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Drivers Foods (Leicester) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drivers Foods (Leicester) Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Drivers Foods (Leicester) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Drivers Foods (Leicester) Limited and state those matters that we have agreed to state to the Board of Directors of Drivers Foods (Leicester) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drivers Foods (Leicester) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Drivers Foods (Leicester) Limited 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 Drivers Foods (Leicester) Limited. You consider that Drivers Foods (Leicester) 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 financial statements of Drivers Foods (Leicester) 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 financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


12 March 2024

Drivers Foods (Leicester) Limited (Registered number: 09270189)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,272,163 1,381,205
Tangible assets 5 1,017,539 1,056,127
2,289,702 2,437,332

CURRENT ASSETS
Stocks 285,000 260,000
Debtors 6 834,837 921,141
Cash at bank and in hand 54,756 98,447
1,174,593 1,279,588
CREDITORS
Amounts falling due within one year 7 804,187 1,633,203
NET CURRENT ASSETS/(LIABILITIES) 370,406 (353,615 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,660,108

2,083,717

CREDITORS
Amounts falling due after more than
one year

8

(11,454

)

-

PROVISIONS FOR LIABILITIES (20,947 ) (24,124 )
NET ASSETS 2,627,707 2,059,593

CAPITAL AND RESERVES
Called up share capital 9 2,000,000 2,000,000
Share premium 200 200
Retained earnings 627,507 59,393
SHAREHOLDERS' FUNDS 2,627,707 2,059,593

Drivers Foods (Leicester) Limited (Registered number: 09270189)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





S J Driver - Director


Drivers Foods (Leicester) Limited (Registered number: 09270189)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Drivers Foods (Leicester) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% reducing balance
Motor vehicles - 20% reducing balance

Stocks
Stocks are stated 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 stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Drivers Foods (Leicester) Limited (Registered number: 09270189)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 2,180,847
AMORTISATION
At 1 April 2022 799,642
Charge for year 109,042
At 31 March 2023 908,684
NET BOOK VALUE
At 31 March 2023 1,272,163
At 31 March 2022 1,381,205

Drivers Foods (Leicester) Limited (Registered number: 09270189)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2022 1,099,229 415,732 30,731 1,545,692
Additions - 11,929 - 11,929
Disposals - (16,430 ) - (16,430 )
At 31 March 2023 1,099,229 411,231 30,731 1,541,191
DEPRECIATION
At 1 April 2022 161,221 303,521 24,823 489,565
Charge for year 21,985 24,196 1,182 47,363
Eliminated on disposal - (13,276 ) - (13,276 )
At 31 March 2023 183,206 314,441 26,005 523,652
NET BOOK VALUE
At 31 March 2023 916,023 96,790 4,726 1,017,539
At 31 March 2022 938,008 112,211 5,908 1,056,127

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 746,844 812,010
Other debtors 684 -
VAT repayable 24,865 45,496
Tax 47,994 -
Prepayments and accrued income 14,450 63,635
834,837 921,141

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 37,465 111,501
Trade creditors 494,759 899,939
Corporation tax 44,104 58,264
Social security and other taxes 7,798 -
Other creditors 31,622 185,000
Directors' current accounts 182,489 374,249
Accruals and deferred income 5,950 4,250
804,187 1,633,203

Drivers Foods (Leicester) Limited (Registered number: 09270189)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 11,454 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2,000,000 Ordinary £1 2,000,000 2,000,000