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REGISTERED NUMBER: 02653461 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MONARCH FOODS INTERNATIONAL LIMITED

MONARCH FOODS INTERNATIONAL LIMITED (REGISTERED NUMBER: 02653461)

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


MONARCH FOODS INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B W Chick
S J Chick
C G Lynn





REGISTERED OFFICE: Warren Farm
Main Road
Sundridge
Sevenoaks
Kent
TN14 6EE





REGISTERED NUMBER: 02653461 (England and Wales)





AUDITORS: GBJ LLP
Statutory Auditor
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

MONARCH FOODS INTERNATIONAL LIMITED (REGISTERED NUMBER: 02653461)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,365 48,487
Investments 5 3,133 2,704
39,498 51,191

CURRENT ASSETS
Stocks 549,543 358,782
Debtors 6 734,508 866,306
Cash at bank and in hand 900,511 1,040,810
2,184,562 2,265,898
CREDITORS
Amounts falling due within one year 7 689,283 777,184
NET CURRENT ASSETS 1,495,279 1,488,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,534,777

1,539,905

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 1,509,777 1,514,905
SHAREHOLDERS' FUNDS 1,534,777 1,539,905

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 16 July 2024 and were signed on its behalf by:




B W Chick - Director



S J Chick - Director


MONARCH FOODS INTERNATIONAL LIMITED (REGISTERED NUMBER: 02653461)

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


1. STATUTORY INFORMATION

Monarch Foods International 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.

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 £.

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

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 - 33% on cost and 25% on reducing balance
Office equipment and furniture - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

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.

Going concern
In preparing the financial statements the directors are required to assess the company's ability to continue to trade as a going concern for the foreseeable future.

In undertaking this assessment, the directors have given due consideration to the company's banking facilities, historical and current trading, together with the forward-looking projections. As such, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

MONARCH FOODS INTERNATIONAL LIMITED (REGISTERED NUMBER: 02653461)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 132,278
DEPRECIATION
At 1 January 2023 83,791
Charge for year 12,122
At 31 December 2023 95,913
NET BOOK VALUE
At 31 December 2023 36,365
At 31 December 2022 48,487

MONARCH FOODS INTERNATIONAL LIMITED (REGISTERED NUMBER: 02653461)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 2,704
Additions 429
At 31 December 2023 3,133
NET BOOK VALUE
At 31 December 2023 3,133
At 31 December 2022 2,704

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 628,293 840,808
Other debtors 106,215 25,498
734,508 866,306

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 53,685
Hire purchase contracts - 3,626
Trade creditors 604,990 611,547
Taxation and social security 32,350 15,826
Other creditors 51,943 92,500
689,283 777,184

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Hillier (Senior Statutory Auditor)
for and on behalf of GBJ LLP

9. RELATED PARTY DISCLOSURES

Mr B W Chick and Mr S J Chick are directors of Monarch Foods Limited. As at the reporting date there was an amount due to Monarch Foods Limited on trading account of £4,737 (2022: £8,500).

As at the reporting date the directors owed the company £84,865. The balance is repayable on demand with an interest rate of 2%.