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Registered Number: 11631863
England and Wales

 

 

 

WORLD FOODS DISTRIBUTION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Accountants report

You consider that the company is exempt from an audit for the year ended 31 December 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise 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 accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
RCi Chartered Accountants and Business Advisors
Windsor House
9-15 Adelaide Street
Luton
LU1 5BJ
13 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 279,044    101,545 
279,044    101,545 
Current assets      
Stocks 664,841    203,062 
Debtors 344,887    307,718 
Cash at bank and in hand 105,455    67,651 
1,115,183    578,431 
Creditors: amount falling due within one year (1,267,947)   (142,940)
Net current assets (152,764)   435,491 
 
Total assets less current liabilities 126,280    537,036 
Creditors: amount falling due after more than one year (334,934)   (484,844)
Net assets (208,654)   52,192 
 

Capital and reserves
     
Called up share capital 4 200    200 
Profit and loss account (208,854)   51,992 
Shareholders' funds (208,654)   52,192 
 


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.

Directors' 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 directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 13 August 2024 and were signed on its behalf by:


-------------------------------
Mohammed Jakir Hussen
Director
2
General Information
World Foods Distribution Ltd is a private company, limited by shares, registered in England and Wales, registration number 11631863, registration address Unit H6, Park Avenue , Industrial Estate, Sundon Park, Luton , LU3 3BP.

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.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
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
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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:
Plant and Machinery 10 Reducing Balance
Motor Vehicles 20 Reducing Balance
Computer Equipment 20 Reducing Balance
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.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 13).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £
At 01 January 2023 24,090    79,250    52,104    4,263      159,707 
Additions 112,057    9,205    50,795    6,719    17,595    196,371 
Disposals          
At 31 December 2023 136,147    88,455    102,899    10,982    17,595    356,078 
Depreciation
At 01 January 2023   26,639    29,006    2,517      58,162 
Charge for year   5,473    12,385    571    443    18,872 
On disposals          
At 31 December 2023   32,112    41,391    3,088    443    77,034 
Net book values
Closing balance as at 31 December 2023 136,147    56,343    61,508    7,894    17,152    279,044 
Opening balance as at 01 January 2023 24,090    52,611    23,098    1,746      101,545 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
200 Class A shares of £1.00 each 200    200 
200    200 

3