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REGISTERED NUMBER: 07946309 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Heirloom Sauce Company Limited

The Heirloom Sauce Company Limited (Registered number: 07946309)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Heirloom Sauce Company Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: J F Chamberlain





REGISTERED OFFICE: Lytchett House
13 Freeland Park
Wareham Road
Poole
BH16 6FA





REGISTERED NUMBER: 07946309 (England and Wales)





ACCOUNTANTS: Penn and Company
Chartered Accountants and Chartered Tax Advisers
Stowupland
Stowmarket
Suffolk
IP14 4AX

The Heirloom Sauce Company Limited (Registered number: 07946309)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,619 14,390
Tangible assets 5 4,754 5,888
Investments 6 770 770
18,143 21,048

CURRENT ASSETS
Stocks 639,357 629,775
Debtors 7 628,544 862,758
Cash at bank 1,290,381 667,407
2,558,282 2,159,940
CREDITORS
Amounts falling due within one year 8 381,758 360,532
NET CURRENT ASSETS 2,176,524 1,799,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,194,667

1,820,456

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,194,666 1,820,455
SHAREHOLDERS' FUNDS 2,194,667 1,820,456

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 director acknowledges his 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 director and authorised for issue on 21 August 2024 and were signed by:



J F Chamberlain - Director


The Heirloom Sauce Company Limited (Registered number: 07946309)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

The Heirloom Sauce Company 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.


The Heirloom Sauce Company Limited (Registered number: 07946309)

Notes to the Financial Statements - continued
for the year ended 31 December 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 18,366
Additions 1,832
At 31 December 2023 20,198
AMORTISATION
At 1 January 2023 3,976
Charge for year 3,603
At 31 December 2023 7,579
NET BOOK VALUE
At 31 December 2023 12,619
At 31 December 2022 14,390

The intangible fixed assets represent the cost of registering patents and trademarks owned by the company.

The Heirloom Sauce Company Limited (Registered number: 07946309)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 14,064
Additions 4,404
Disposals (3,797 )
At 31 December 2023 14,671
DEPRECIATION
At 1 January 2023 8,176
Charge for year 4,465
Eliminated on disposal (2,724 )
At 31 December 2023 9,917
NET BOOK VALUE
At 31 December 2023 4,754
At 31 December 2022 5,888

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 770
NET BOOK VALUE
At 31 December 2023 770
At 31 December 2022 770

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 382,291 412,184
Amounts owed by group undertakings 214,999 388,390
Other debtors 31,254 62,184
628,544 862,758

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 212,503 204,877
Taxation and social security 16,318 30,673
Other creditors 152,937 124,982
381,758 360,532

The Heirloom Sauce Company Limited (Registered number: 07946309)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. ULTIMATE CONTROLLING PARTY

The controlling party is J F Chamberlain.