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ZEST FOOD SERVICE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ZEST FOOD SERVICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M J Gummer
A T Hopwell
Ms C S Hamilton





REGISTERED OFFICE: Merchant House
36 Haydock Park Road
Derby
Derbyshire
DE24 8HT





REGISTERED NUMBER: 04176709 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,995 20,901
Tangible assets 5 114,630 184,229
123,625 205,130

CURRENT ASSETS
Stocks 105,000 98,879
Debtors 6 621,169 668,947
Cash at bank 40,863 15,990
767,032 783,816
CREDITORS
Amounts falling due within one year 7 687,403 742,794
NET CURRENT ASSETS 79,629 41,022
TOTAL ASSETS LESS CURRENT LIABILITIES 203,254 246,152

CREDITORS
Amounts falling due after more than one year 8 (140,278 ) (175,220 )

PROVISIONS FOR LIABILITIES 11 (23,500 ) (28,900 )
NET ASSETS 39,476 42,032

CAPITAL AND RESERVES
Called up share capital 12 102 102
Retained earnings 39,374 41,930
SHAREHOLDERS' FUNDS 39,476 42,032

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





M J Gummer - Director


ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Zest Food Service 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 28 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2023 29,000 9,902 38,902
Disposals - (9,902 ) (9,902 )
At 31 December 2023 29,000 - 29,000
AMORTISATION
At 1 January 2023 18,001 - 18,001
Amortisation for year 2,004 - 2,004
At 31 December 2023 20,005 - 20,005
NET BOOK VALUE
At 31 December 2023 8,995 - 8,995
At 31 December 2022 10,999 9,902 20,901

ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 12,196 427,380 256,604 24,772 720,952
Additions - 5,744 - 665 6,409
Disposals - (32,250 ) (43,525 ) - (75,775 )
At 31 December 2023 12,196 400,874 213,079 25,437 651,586
DEPRECIATION
At 1 January 2023 - 374,038 145,003 17,682 536,723
Charge for year - 33,333 27,727 2,391 63,451
Eliminated on disposal - (20,559 ) (42,659 ) - (63,218 )
At 31 December 2023 - 386,812 130,071 20,073 536,956
NET BOOK VALUE
At 31 December 2023 12,196 14,062 83,008 5,364 114,630
At 31 December 2022 12,196 53,342 111,601 7,090 184,229

The net book value of tangible fixed assets includes £ 78,121 (2022 - £ 46,351 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 582,824 617,663
Other debtors 38,345 51,284
621,169 668,947

Trade debtors include amounts subject to invoice discounting of £582,824 (2022: £617,663).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 97,514 164,075
Hire purchase contracts (see note 9) 28,389 32,406
Trade creditors 419,631 419,433
Taxation and social security 29,643 6,325
Other creditors 112,226 120,555
687,403 742,794

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 53,333 93,333
Hire purchase contracts (see note 9) 53,499 81,887
Other creditors 33,446 -
140,278 175,220

ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 28,389 32,406
Between one and five years 53,499 81,887
81,888 114,293

Non-cancellable operating leases
2023 2022
£    £   
Within one year 74,256 75,107
Between one and five years 122,919 191,199
197,175 266,306

The total amount payable under non-cancellable operating leases is £197,175 (2022: £266,306).

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 81,888 114,293
Ultimate Finance 57,514 124,075
139,402 238,368

Amounts owed to Ultimate Finance for invoice discounting are secured by way of fixed and floating charges over the assets of the company.

Assets financed on hire purchase contracts are secured on the individual assets concerned.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 23,500 28,900

Deferred
tax
£   
Balance at 1 January 2023 28,900
Provided during year (5,400 )
Balance at 31 December 2023 23,500

ZEST FOOD SERVICE LIMITED (REGISTERED NUMBER: 04176709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
68 Ordinary A £1 68 68
34 Ordinary B £1 34 34
102 102

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

20232022
£ £
Balance outstanding at start of year7,4327,432
Amounts advanced--
Amounts repaid--
Amounts written off--
Amounts waived--
Balance outstanding at end of year7,4327,432

The loans is interest free and repayable on demand.