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REGISTERED NUMBER: 07045646 (England and Wales)






















Financial Statements

for the Period

26 February 2023 to 2 March 2024

for

Hammond Food Oils Limited

Hammond Food Oils Limited (Registered number: 07045646)






Contents of the Financial Statements
for the Period 26 February 2023 to 2 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hammond Food Oils Limited

Company Information
for the Period 26 February 2023 to 2 March 2024







DIRECTORS: J W Hammond
T C Bradshaw
A E Hammond





SECRETARY: P A Thompson





REGISTERED OFFICE: New Farm
Mansfield Road
Redhill
Nottinghamshire
NG5 8PB





REGISTERED NUMBER: 07045646 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Hammond Food Oils Limited (Registered number: 07045646)

Balance Sheet
2 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 301
Investments 6 - 1
- 302

CURRENT ASSETS
Stocks - 634,067
Debtors 7 765,279 453,108
Cash at bank 56,799 73,381
822,078 1,160,556
CREDITORS
Amounts falling due within one year 8 318,680 515,759
NET CURRENT ASSETS 503,398 644,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

503,398

645,099

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 503,298 644,999
SHAREHOLDERS' FUNDS 503,398 645,099

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 18 September 2024 and were signed on its behalf by:





A E Hammond - Director


Hammond Food Oils Limited (Registered number: 07045646)

Notes to the Financial Statements
for the Period 26 February 2023 to 2 March 2024

1. STATUTORY INFORMATION

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

Brands
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The principle brand owned by the company is "Borderfields" which is now fully amortised.

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
Computer equipment - 20% on cost

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.

Finished goods are valued at the cost of raw materials, sub contracted labour and of other overheads required to produce the finished product.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the period 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.


Hammond Food Oils Limited (Registered number: 07045646)

Notes to the Financial Statements - continued
for the Period 26 February 2023 to 2 March 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

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 period was NIL (2023 - 4 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 26 February 2023 40,000
Transfers to group (40,000 )
At 2 March 2024 -
AMORTISATION
At 26 February 2023 40,000
Transfers to group (40,000 )
At 2 March 2024 -
NET BOOK VALUE
At 2 March 2024 -
At 25 February 2023 -

Hammond Food Oils Limited (Registered number: 07045646)

Notes to the Financial Statements - continued
for the Period 26 February 2023 to 2 March 2024

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 26 February 2023 10,990 8,606 19,596
Transfers to group (10,990 ) (8,606 ) (19,596 )
At 2 March 2024 - - -
DEPRECIATION
At 26 February 2023 10,990 8,305 19,295
Transfers to group (10,990 ) (8,305 ) (19,295 )
At 2 March 2024 - - -
NET BOOK VALUE
At 2 March 2024 - - -
At 25 February 2023 - 301 301

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 26 February 2023 1
Disposals (1 )
At 2 March 2024 -
NET BOOK VALUE
At 2 March 2024 -
At 25 February 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 518,836 416,730
Amounts owed by group undertakings 246,443 312
VAT - 24,793
Prepayments and accrued income - 11,273
765,279 453,108

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 312,245 174,658
Amounts owed to group undertakings - 286,068
Tax 937 7,179
Social security and other taxes - 4,957
VAT 2,192 -
Other creditors 3,306 11,118
Accruals and deferred income - 31,779
318,680 515,759

Hammond Food Oils Limited (Registered number: 07045646)

Notes to the Financial Statements - continued
for the Period 26 February 2023 to 2 March 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £0.01 100 100

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

The Report of the Auditors was unqualified.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

11. ULTIMATE CONTROLLING PARTY

Grovetree Limited is the ultimate controlling party as Phoenix Speciality Oils Limited owns the share capital in Hammond Food Oils Limited. Phoenix Speciality Oils Limited is owned by Phonix Farm Group Limited. Grovetree Limited has a controlling interest in Phoenix Farm Group Limited.

Grovetree Limited's registered office is New Farm, Redhill, Nottingham, Nottinghamshire, NG5 8PB.