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REGISTERED NUMBER: 07791507 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BIOFARE INVESTMENTS LIMITED

BIOFARE INVESTMENTS LIMITED (REGISTERED NUMBER: 07791507)






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


BIOFARE INVESTMENTS LIMITED

COMPANY INFORMATION
for the year ended 31 DECEMBER 2023







DIRECTORS: P D Goriup
A M G Darby OBE
R Crofts CBE
J R E Smith





SECRETARY: L A Strike





REGISTERED OFFICE: 2c Votec Centre
Hambridge Lane
Newbury
Berks
RG14 5TN





REGISTERED NUMBER: 07791507 (England and Wales)





ACCOUNTANTS: C B Heslop & Company Limited
Chartered Accountants
1 High Street
Thatcham
Berks
RG19 3JG

BIOFARE INVESTMENTS LIMITED (REGISTERED NUMBER: 07791507)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,000 30,000

CURRENT ASSETS
Debtors 5 1 1
Cash at bank - 8
1 9
CREDITORS
Amounts falling due within one year 6 15,269 15,277
NET CURRENT LIABILITIES (15,268 ) (15,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,732

14,732

CREDITORS
Amounts falling due after more than one
year

7

549,450

549,450
NET LIABILITIES (534,718 ) (534,718 )

CAPITAL AND RESERVES
Called up share capital 8 550 550
Retained earnings 9 (535,268 ) (535,268 )
SHAREHOLDERS' FUNDS (534,718 ) (534,718 )

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.

BIOFARE INVESTMENTS LIMITED (REGISTERED NUMBER: 07791507)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2024 and were signed on its behalf by:





P D Goriup - Director


BIOFARE INVESTMENTS LIMITED (REGISTERED NUMBER: 07791507)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Biofare Investments 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.

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 - 20% on cost, 16.66% on cost and 10% on cost
Office equipment - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 275,706 426 276,132
DEPRECIATION
At 1 January 2023
and 31 December 2023 245,706 426 246,132
NET BOOK VALUE
At 31 December 2023 30,000 - 30,000
At 31 December 2022 30,000 - 30,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 1 1

BIOFARE INVESTMENTS LIMITED (REGISTERED NUMBER: 07791507)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 15,127 15,127
Accrued expenses 142 150
15,269 15,277

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Creditors due after more than one year are made up of a Joint Venture Loan which is an unsecured interest free loan repayable after six years.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
550 Ordinary £1 550 550

On the 1st July 2013 the company's issued share capital was reduced from £370,000 to £370. On the same day the holder of the cancelled shares subscribed simultaneously to £369,630 Joint Venture Loan notes. During the year to 31 December 2018, 180 ordinary shares were issued with a nominal value of £1 per share.

9. RESERVES
Retained
earnings
£   

At 1 January 2023 (535,268 )
Profit for the year -
At 31 December 2023 (535,268 )

10. CONTINGENT LIABILITIES

There were no contingent liabilities at 31st December 2023 or at 31st December 2022.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Throughout the year the directors were reimbursed expenses incurred on behalf of the company.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company within the group, which will draw up consolidated financial statements, is Fieldfare International Ecological Development Ltd, a company incorporated in England & Wales, Registered Office, 2c Votec Centre, Hambridge Lane, Newbury, Berkshire RG14 5TN. No single party has overall control of the Group of Companies.

13. BALANCE SHEET POSITION

On the 31st December 2023 the company's liabilities exceeded its assets by £534,718 (2022 - £534,718). The largest creditors, being the holders of £549,450 Joint Venture Loan notes, have indicated their continued support for the company. The directors are confident that the company will be able to meet its financial obligations in the foreseeable future.