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REGISTERED NUMBER: 04912966 (England and Wales)















RYE FOOD AND DRINK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)






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


RYE FOOD AND DRINK LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mrs G R Dalton
R E Dalton





SECRETARY: R E Dalton





REGISTERED OFFICE: 28b High Street
Rye
East Sussex
TN31 7JG





REGISTERED NUMBER: 04912966 (England and Wales)





ACCOUNTANTS: Busbys
Chartered Accountants
Unit 7
Pickhill Business Centre
Smallhythe Road
Tenterden
Kent
TN30 7LZ

RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 46,498 53,230
46,498 53,230

CURRENT ASSETS
Stocks 101,000 101,000
Debtors 6 9,088 8,466
Cash at bank and in hand 218,228 176,809
328,316 286,275
CREDITORS
Amounts falling due within one year 7 72,345 71,028
NET CURRENT ASSETS 255,971 215,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,469

268,477

CREDITORS
Amounts falling due after more than one
year

8

(19,733

)

(33,833

)

PROVISIONS FOR LIABILITIES (9,522 ) (10,074 )
NET ASSETS 273,214 224,570

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 273,114 224,470
SHAREHOLDERS' FUNDS 273,214 224,570

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.

RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)

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 13 September 2024 and were signed on its behalf by:




R E Dalton - Director



Mrs G R Dalton - Director


RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)

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

1. STATUTORY INFORMATION

Rye Food and Drink 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill paid in connection with the acquisition of a business in 2004 was being amortised evenly over its estimated useful life of twenty years. In anticipation of new accounting rules, the balance of goodwill at 1 October 2013 was amortised evenly over four years and has been fully amortised by 30 September 2017.

Goodwill relating to the acquisition of a new business in 2015 has been fully amortised by 31 December 2019.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the term of the lease
Improvements to property - Over the term of the lease
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 55,760
AMORTISATION
At 1 January 2023
and 31 December 2023 55,760
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and
leasehold property fittings
£    £    £   
COST
At 1 January 2023 12,100 98,760 86,188
Additions - 345 7,581
At 31 December 2023 12,100 99,105 93,769
DEPRECIATION
At 1 January 2023 12,100 73,452 59,059
Charge for year - 9,099 5,204
At 31 December 2023 12,100 82,551 64,263
NET BOOK VALUE
At 31 December 2023 - 16,554 29,506
At 31 December 2022 - 25,308 27,129

RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 7,995 2,983 208,026
Additions - 574 8,500
At 31 December 2023 7,995 3,557 216,526
DEPRECIATION
At 1 January 2023 7,922 2,263 154,796
Charge for year 18 911 15,232
At 31 December 2023 7,940 3,174 170,028
NET BOOK VALUE
At 31 December 2023 55 383 46,498
At 31 December 2022 73 720 53,230

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Sundry debtors 9,088 8,466

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 14,000 14,000
Trade creditors 6,881 13,540
Taxation and social security 30,653 24,360
Other creditors 20,811 19,128
72,345 71,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 19,733 33,833

RYE FOOD AND DRINK LIMITED (REGISTERED NUMBER: 04912966)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 43,200 43,200
Between one and five years 201,300 216,000
In more than five years 90,000 118,500
334,500 377,700

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

Other creditors include a loan from the directors of £1,118 (2022: £167).