Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 5 September 2024 1 January 2023 31 December 2023 31 December 2023 11110151 Mr A Waghorn Mr M Biegi true true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11110151 2022-12-31 11110151 2023-12-31 11110151 2023-01-01 2023-12-31 11110151 frs-core:CurrentFinancialInstruments 2023-12-31 11110151 frs-core:SharePremium 2023-12-31 11110151 frs-core:ShareCapital 2023-12-31 11110151 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11110151 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11110151 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11110151 frs-bus:SmallEntities 2023-01-01 2023-12-31 11110151 frs-bus:Audited 2023-01-01 2023-12-31 11110151 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11110151 1 2023-01-01 2023-12-31 11110151 frs-bus:Director1 2023-01-01 2023-12-31 11110151 frs-bus:Director2 2023-01-01 2023-12-31 11110151 frs-countries:EnglandWales 2023-01-01 2023-12-31 11110151 2021-12-31 11110151 2022-12-31 11110151 2022-01-01 2022-12-31 11110151 frs-core:CurrentFinancialInstruments 2022-12-31 11110151 frs-core:SharePremium 2022-12-31 11110151 frs-core:ShareCapital 2022-12-31 11110151 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11110151
Bfoods (U.K.) Limited
Financial Statements
For The Year Ended 31 December 2023
GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11110151
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 56,088 157,090
Debtors 5 682,340 7,481,606
Cash at bank and in hand 351,520 466,990
1,089,948 8,105,686
Creditors: Amounts Falling Due Within One Year 6 (796,059 ) (7,889,969 )
NET CURRENT ASSETS (LIABILITIES) 293,889 215,717
TOTAL ASSETS LESS CURRENT LIABILITIES 293,889 215,717
NET ASSETS 293,889 215,717
CAPITAL AND RESERVES
Called up share capital 7 22,001 22,001
Share premium account 2,861 2,861
Income Statement 269,027 190,855
SHAREHOLDERS' FUNDS 293,889 215,717
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr A Waghorn
Director
05/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bfoods (U.K.) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11110151 . The registered office is 69-75 Thorpe Road, Norwich, NR1 1UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
  • The Company has transferred the significant risks and rewards of ownership to the buyer;
  • The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
  • The amount of revenue can be measured reliably;
  • It is probable that the Company will receive the consideration due under the transaction; and
  • The costs incurred or to be incurred in respect of the transaction can be measured reliably.
2.3. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
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2.4. Foreign Currencies
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when the fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
2.5. Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
  • The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
  • Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Stocks
2023 2022
£ £
Stock 56,088 157,090
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 613,144 2,835,641
Prepayments and accrued income 63,709 -
Other debtors 803 12,723
VAT 4,684 -
Amounts owed by group undertakings - 4,633,242
682,340 7,481,606
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 688,983 2,933,845
Other loans - 150,000
Corporation tax 15,888 17,735
Other taxes and social security 2,071 1,792
VAT - 4,828
Accruals and deferred income 14,833 10,546
Amounts owed to group undertakings 74,284 4,771,223
796,059 7,889,969
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 22,001 22,001
8. Related Party Disclosures
The company, being a wholly owned subsidiary of Biegi Foods GmbH has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102, not to disclose transactions with other members of the group.
9. Controlling Parties
The company's ultimate controlling party is Biegi Foods GmbH by virtue of their interest in the share capital of the company.
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10. Audit Information
The auditors report on the account of Bfoods (U.K.) Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Frank Shippam BSc FCA DChA (Senior Statutory Auditor) for and on behalf of MA Partners Audit LLP , Statutory Auditor
MA Partners Audit LLP
7 The Close
Norwich
Norfolk
NR1 4DJ
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