Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-311falseNo description of principal activity2022-11-011falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10416705 2022-11-01 2023-10-31 10416705 2021-11-01 2022-10-31 10416705 2023-10-31 10416705 2022-10-31 10416705 c:Director1 2022-11-01 2023-10-31 10416705 d:PlantMachinery 2022-11-01 2023-10-31 10416705 d:PlantMachinery 2023-10-31 10416705 d:PlantMachinery 2022-10-31 10416705 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 10416705 d:Goodwill 2022-11-01 2023-10-31 10416705 d:Goodwill 2023-10-31 10416705 d:Goodwill 2022-10-31 10416705 d:CurrentFinancialInstruments 2023-10-31 10416705 d:CurrentFinancialInstruments 2022-10-31 10416705 d:Non-currentFinancialInstruments 2023-10-31 10416705 d:Non-currentFinancialInstruments 2022-10-31 10416705 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 10416705 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 10416705 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 10416705 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 10416705 d:ShareCapital 2023-10-31 10416705 d:ShareCapital 2022-10-31 10416705 d:RetainedEarningsAccumulatedLosses 2023-10-31 10416705 d:RetainedEarningsAccumulatedLosses 2022-10-31 10416705 c:FRS102 2022-11-01 2023-10-31 10416705 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 10416705 c:FullAccounts 2022-11-01 2023-10-31 10416705 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10416705 2 2022-11-01 2023-10-31 10416705 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 10416705









WE SUPPLY FOOD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
WE SUPPLY FOOD LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
WE SUPPLY FOOD LIMITED
REGISTERED NUMBER: 10416705

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,500
1,500

Tangible assets
 5 
8,043
9,323

  
9,543
10,823

Current assets
  

Stocks
  
26,541
13,638

Debtors: amounts falling due within one year
 6 
845,664
823,249

Cash at bank and in hand
 7 
274
6,750

  
872,479
843,637

Creditors: amounts falling due within one year
 8 
(574,289)
(519,634)

Net current assets
  
 
 
298,190
 
 
324,003

Total assets less current liabilities
  
307,733
334,826

Creditors: amounts falling due after more than one year
 9 
(227,245)
(268,402)

Provisions for liabilities
  

Deferred tax
  
(1,149)
(1,432)

  
 
 
(1,149)
 
 
(1,432)

Net assets
  
79,339
64,992


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
79,338
64,991

  
79,339
64,992


Page 1

 
WE SUPPLY FOOD LIMITED
REGISTERED NUMBER: 10416705
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers 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 director acknowledges his 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 income and retained earnings 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: 




................................................
Kasim Akhter
Director

Date: 30 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WE SUPPLY FOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

We Supply Food Limited is a private company limited by shares, incorporated in England and Wales. The registered office address is Unit 17 Sovereign Park, Coronation Road, London, NW10 7QP. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
WE SUPPLY FOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
WE SUPPLY FOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
reducing balance

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.

 
2.10

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.

Page 5

 
WE SUPPLY FOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
WE SUPPLY FOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
1,500



At 31 October 2023

1,500






Net book value



At 31 October 2023
1,500



At 31 October 2022
1,500




5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 November 2022
18,707


Additions
1,018



At 31 October 2023

19,725



Depreciation


At 1 November 2022
9,384


Charge for the year on owned assets
2,298



At 31 October 2023

11,682



Net book value



At 31 October 2023
8,043



At 31 October 2022
9,323

Page 7

 
WE SUPPLY FOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
775,919
682,833

Other debtors
69,745
140,416

845,664
823,249



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
274
6,750



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
422,132
415,744

Corporation tax
3,599
-

Other taxation and social security
20,220
26,111

Other creditors
123,138
77,779

Accruals and deferred income
5,200
-

574,289
519,634



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
39,405
44,559

Other creditors
187,840
223,843

227,245
268,402


 
Page 8