2023-01-012023-12-312023-12-31false11200629TRUTH SUPPLEMENTS LTD2024-09-1747910iso4217:GBPxbrli:pure112006292023-01-01112006292023-12-31112006292023-01-012023-12-31112006292022-01-01112006292022-12-31112006292022-01-012022-12-3111200629bus:SmallEntities2023-01-012023-12-3111200629bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3111200629bus:FullAccounts2023-01-012023-12-3111200629bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111200629core:WithinOneYear2023-12-3111200629core:AfterOneYear2023-12-3111200629core:WithinOneYear2022-12-3111200629core:AfterOneYear2022-12-3111200629core:ShareCapital2023-12-3111200629core:SharePremium2023-12-3111200629core:RevaluationReserve2023-12-3111200629core:OtherReservesSubtotal2023-12-3111200629core:RetainedEarningsAccumulatedLosses2023-12-3111200629core:ShareCapital2022-12-3111200629core:SharePremium2022-12-3111200629core:RevaluationReserve2022-12-3111200629core:OtherReservesSubtotal2022-12-3111200629core:RetainedEarningsAccumulatedLosses2022-12-3111200629core:LandBuildings2023-12-3111200629core:PlantMachinery2023-12-3111200629core:Vehicles2023-12-3111200629core:FurnitureFittings2023-12-3111200629core:OfficeEquipment2023-12-3111200629core:NetGoodwill2023-12-3111200629core:IntangibleAssetsOtherThanGoodwill2023-12-3111200629core:ListedExchangeTraded2023-12-3111200629core:UnlistedNon-exchangeTraded2023-12-3111200629core:LandBuildings2022-12-3111200629core:PlantMachinery2022-12-3111200629core:Vehicles2022-12-3111200629core:FurnitureFittings2022-12-3111200629core:OfficeEquipment2022-12-3111200629core:NetGoodwill2022-12-3111200629core:IntangibleAssetsOtherThanGoodwill2022-12-3111200629core:ListedExchangeTraded2022-12-3111200629core:UnlistedNon-exchangeTraded2022-12-3111200629core:LandBuildings2023-01-012023-12-3111200629core:PlantMachinery2023-01-012023-12-3111200629core:Vehicles2023-01-012023-12-3111200629core:FurnitureFittings2023-01-012023-12-3111200629core:OfficeEquipment2023-01-012023-12-3111200629core:NetGoodwill2023-01-012023-12-3111200629core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111200629core:ListedExchangeTraded2023-01-012023-12-3111200629core:UnlistedNon-exchangeTraded2023-01-012023-12-3111200629core:MoreThanFiveYears2023-01-012023-12-3111200629core:Non-currentFinancialInstruments2023-12-3111200629core:Non-currentFinancialInstruments2022-12-3111200629dpl:CostSales2023-01-012023-12-3111200629dpl:DistributionCosts2023-01-012023-12-3111200629core:LandBuildings2023-01-012023-12-3111200629core:PlantMachinery2023-01-012023-12-3111200629core:Vehicles2023-01-012023-12-3111200629core:FurnitureFittings2023-01-012023-12-3111200629core:OfficeEquipment2023-01-012023-12-3111200629dpl:AdministrativeExpenses2023-01-012023-12-3111200629core:NetGoodwill2023-01-012023-12-3111200629core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111200629dpl:GroupUndertakings2023-01-012023-12-3111200629dpl:ParticipatingInterests2023-01-012023-12-3111200629dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3111200629core:ListedExchangeTraded2023-01-012023-12-3111200629dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3111200629core:UnlistedNon-exchangeTraded2023-01-012023-12-3111200629dpl:CostSales2022-01-012022-12-3111200629dpl:DistributionCosts2022-01-012022-12-3111200629core:LandBuildings2022-01-012022-12-3111200629core:PlantMachinery2022-01-012022-12-3111200629core:Vehicles2022-01-012022-12-3111200629core:FurnitureFittings2022-01-012022-12-3111200629core:OfficeEquipment2022-01-012022-12-3111200629dpl:AdministrativeExpenses2022-01-012022-12-3111200629core:NetGoodwill2022-01-012022-12-3111200629core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3111200629dpl:GroupUndertakings2022-01-012022-12-3111200629dpl:ParticipatingInterests2022-01-012022-12-3111200629dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3111200629core:ListedExchangeTraded2022-01-012022-12-3111200629dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3111200629core:UnlistedNon-exchangeTraded2022-01-012022-12-3111200629core:NetGoodwill2023-12-3111200629core:IntangibleAssetsOtherThanGoodwill2023-12-3111200629core:LandBuildings2023-12-3111200629core:PlantMachinery2023-12-3111200629core:Vehicles2023-12-3111200629core:FurnitureFittings2023-12-3111200629core:OfficeEquipment2023-12-3111200629core:AfterOneYear2023-12-3111200629core:WithinOneYear2023-12-3111200629core:ListedExchangeTraded2023-12-3111200629core:UnlistedNon-exchangeTraded2023-12-3111200629core:ShareCapital2023-12-3111200629core:SharePremium2023-12-3111200629core:RevaluationReserve2023-12-3111200629core:OtherReservesSubtotal2023-12-3111200629core:RetainedEarningsAccumulatedLosses2023-12-3111200629core:NetGoodwill2022-12-3111200629core:IntangibleAssetsOtherThanGoodwill2022-12-3111200629core:LandBuildings2022-12-3111200629core:PlantMachinery2022-12-3111200629core:Vehicles2022-12-3111200629core:FurnitureFittings2022-12-3111200629core:OfficeEquipment2022-12-3111200629core:AfterOneYear2022-12-3111200629core:WithinOneYear2022-12-3111200629core:ListedExchangeTraded2022-12-3111200629core:UnlistedNon-exchangeTraded2022-12-3111200629core:ShareCapital2022-12-3111200629core:SharePremium2022-12-3111200629core:RevaluationReserve2022-12-3111200629core:OtherReservesSubtotal2022-12-3111200629core:RetainedEarningsAccumulatedLosses2022-12-3111200629core:NetGoodwill2022-01-0111200629core:IntangibleAssetsOtherThanGoodwill2022-01-0111200629core:LandBuildings2022-01-0111200629core:PlantMachinery2022-01-0111200629core:Vehicles2022-01-0111200629core:FurnitureFittings2022-01-0111200629core:OfficeEquipment2022-01-0111200629core:AfterOneYear2022-01-0111200629core:WithinOneYear2022-01-0111200629core:ListedExchangeTraded2022-01-0111200629core:UnlistedNon-exchangeTraded2022-01-0111200629core:ShareCapital2022-01-0111200629core:SharePremium2022-01-0111200629core:RevaluationReserve2022-01-0111200629core:OtherReservesSubtotal2022-01-0111200629core:RetainedEarningsAccumulatedLosses2022-01-0111200629core:AfterOneYear2023-01-012023-12-3111200629core:WithinOneYear2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:CostValuation2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3111200629core:Non-currentFinancialInstrumentscore:CostValuation2023-12-3111200629core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-12-3111200629core:Non-currentFinancialInstrumentscore:CostValuation2022-12-3111200629core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-3111200629core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-3111200629bus:Director12023-01-012023-12-31

TRUTH SUPPLEMENTS LTD

Registered Number
11200629
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TRUTH SUPPLEMENTS LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Trent Gordon Scanlen

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

11200629 (England and Wales)
TRUTH SUPPLEMENTS LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,1274,718
4,1274,718
Current assets
Stocks46,0661,933
Debtors5608,013582,196
Cash at bank and on hand7,18111,813
621,260595,942
Creditors amounts falling due within one year6(45,987)(55,763)
Net current assets (liabilities)575,273540,179
Total assets less current liabilities579,400544,897
Creditors amounts falling due after one year7(661,702)(658,244)
Net assets(82,302)(113,347)
Capital and reserves
Called up share capital2,0362,036
Share premium263,740263,740
Profit and loss account(348,078)(379,123)
Shareholders' funds(82,302)(113,347)
The financial statements were approved and authorised for issue by the Director on 17 September 2024, and are signed on its behalf by:
Trent Gordon Scanlen
Director
Registered Company No. 11200629
TRUTH SUPPLEMENTS LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 235,9065,906
At 31 December 235,9065,906
Depreciation and impairment
At 01 January 231,1881,188
Charge for year591591
At 31 December 231,7791,779
Net book value
At 31 December 234,1274,127
At 31 December 224,7184,718
4.Stocks

2023

2022

££
Work in progress1,8541,371
Finished goods4,212562
Total6,0661,933
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-2,662
Amounts owed by group undertakings592,715557,727
Other debtors6,0266,244
Prepayments and accrued income9,27215,563
Total608,013582,196
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables19,81542,269
Bank borrowings and overdrafts8,3405,406
Taxation and social security4,5014,501
Other creditors13,3313,587
Total45,98755,763
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts45,76070,364
Amounts owed to related parties385,325357,183
Other creditors230,617230,697
Total661,702658,244
8.Related party transactions
6 DEGREES BIOSCIENCE UK LTD At the date of the financial statements, the company is owed by the related party £376,395 (2021: £355,275). 11th Hour Bioscience ANZ Pty Ltd At the date of the financial statements, the company is owed by the related party £56,627 (2021: £56,627). Truthcorp Holdings Ltd At the date of the financial statements, the company owed the related party £336,922 (2021: £210,797). Truth Superfoods Ltd At the date of the financial statements, the company owed to the related party £20,260 (2021: £8,287).