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REGISTERED NUMBER: 06604085 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FOOD SERVICES WORLD WIDE LIMITED

FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FOOD SERVICES WORLD WIDE LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr G M Gillo
Mr S L Ross





SECRETARY: Mr G M Gillo





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 06604085 (England and Wales)





AUDITORS: Raffingers LLP, Statutory Auditor
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,801 47,993
Investments 5 100 100
23,901 48,093

CURRENT ASSETS
Stocks 606,039 658,881
Debtors 1,820,038 1,688,511
Cash at bank 1,392,586 1,356,597
3,818,663 3,703,989
CREDITORS
Amounts falling due within one year 3,443,116 3,289,747
NET CURRENT ASSETS 375,547 414,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

399,448

462,335

PROVISIONS FOR LIABILITIES 4,522 9,119
NET ASSETS 394,926 453,216

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 394,826 453,116
SHAREHOLDERS' FUNDS 394,926 453,216

FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 August 2024 and were signed on its behalf by:





Mr S L Ross - Director


FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)

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

1. STATUTORY INFORMATION

Food Services World Wide 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.


FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)

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

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 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.

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.

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.

Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rental payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 20% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 180,933
Disposals (20,287 )
At 31 December 2023 160,646
DEPRECIATION
At 1 January 2023 132,940
Charge for year 24,192
Eliminated on disposal (20,287 )
At 31 December 2023 136,845
NET BOOK VALUE
At 31 December 2023 23,801
At 31 December 2022 47,993

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 105,000 193,527
Between one and five years - 553,527
105,000 747,054

FOOD SERVICES WORLD WIDE LIMITED (REGISTERED NUMBER: 06604085)

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

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

The Report of the Auditors was unqualified.

Mr Paul Dell FCA (Senior Statutory Auditor)
for and on behalf of Raffingers LLP, Statutory Auditor

8. CONTINGENT LIABILITIES

The company has granted a fixed and floating charge to Barclays Bank plc over all of its assets as security for the borrowings of the Keswick Enterprises Group of companies. At 31 December 2023, group borrowings amounted to £4,455,551 (2022: £3,545,898).

9. CAPITAL COMMITMENTS

There were no capital commitments at the current or previous balance sheet date.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. AUDITOR LIABILITY LIMITATION AGREEMENT

The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of the statutory audit for the year ended 31 December 2023. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the directors on 15 January 2024.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by The Keswick Enterprises Group Limited, its parent company. The company's ultimate controlling party is Mr J A Harvey by virtue of his majority shareholding in the company's parent company.

13. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge amounted to £10,572 (2022: £8,906) during the year.