Relished Limited
Company Registration No. 04671771 (England And Wales)
Unaudited Financial Statements
Year Ended 31 December 2023
RELISHED LIMITED
Relished Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
RELISHED LIMITED
Relished Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
970
1,077
Current assets
Stocks
3,300
3,140
Debtors
6
269
270
Cash at bank and in hand
28,010
29,379
31,579
32,789
Creditors: amounts falling due within one year
7
(32,193)
(32,140)
Net current (liabilities)/assets
(614)
649
Net assets
356
1,726
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
354
1,724
Total equity
356
1,726

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RELISHED LIMITED
Relished Limited
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 August 2024 and are signed on its behalf by:
Mr S Giordano
Mrs H G V Giordano
Director
Director
Company registration number 04671771 (England and Wales)
RELISHED LIMITED
Relished Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Relished Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Church Lane, Nantwich, Cheshire, CW5 5RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 4 years, and has been amortised in full.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on cost
RELISHED LIMITED
Relished Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

RELISHED LIMITED
Relished Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

RELISHED LIMITED
Relished Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
9
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
18,035
Amortisation and impairment
At 1 January 2023 and 31 December 2023
18,035
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
RELISHED LIMITED
Relished Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
5
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2023
36,689
Additions
545
Disposals
(2,381)
At 31 December 2023
34,853
Depreciation and impairment
At 1 January 2023
35,612
Depreciation charged in the year
652
Eliminated in respect of disposals
(2,381)
At 31 December 2023
33,883
Carrying amount
At 31 December 2023
970
At 31 December 2022
1,077
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
269
270
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,850
1,244
Corporation tax
20,732
11,877
Other taxation and social security
11,163
10,589
Other creditors
(1,552)
8,430
32,193
32,140
2023-12-312023-01-01false03 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr S GiordanoMrs H G V GiordanoMr S Giordanofalsefalse046717712023-01-012023-12-31046717712023-12-31046717712022-12-3104671771core:FurnitureFittings2023-12-3104671771core:FurnitureFittings2022-12-3104671771core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104671771core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104671771core:CurrentFinancialInstruments2023-12-3104671771core:CurrentFinancialInstruments2022-12-3104671771core:ShareCapital2023-12-3104671771core:ShareCapital2022-12-3104671771core:RetainedEarningsAccumulatedLosses2023-12-3104671771core:RetainedEarningsAccumulatedLosses2022-12-3104671771bus:CompanySecretaryDirector12023-01-012023-12-3104671771bus:Director12023-01-012023-12-3104671771core:Goodwill2023-01-012023-12-3104671771core:FurnitureFittings2023-01-012023-12-31046717712022-01-012022-12-3104671771core:NetGoodwill2022-12-3104671771core:NetGoodwill2023-12-3104671771core:NetGoodwill2022-12-3104671771core:FurnitureFittings2022-12-3104671771core:WithinOneYear2023-12-3104671771core:WithinOneYear2022-12-3104671771bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104671771bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104671771bus:FRS1022023-01-012023-12-3104671771bus:AuditExemptWithAccountantsReport2023-01-012023-12-3104671771bus:Director22023-01-012023-12-3104671771bus:CompanySecretary12023-01-012023-12-3104671771bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP