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REGISTERED NUMBER: 07110875 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

HASS FOODS LTD

HASS FOODS LTD (REGISTERED NUMBER: 07110875)

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


HASS FOODS LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr Orcun Hassan





REGISTERED OFFICE: Foldfarm
Galley Lane
Barnet
Hertfordshire
EN5 4RA





REGISTERED NUMBER: 07110875 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

HASS FOODS LTD (REGISTERED NUMBER: 07110875)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 278,049 311,596

CURRENT ASSETS
Stocks 60,116 58,350
Debtors 5 16,065 10,721
Cash in hand 53,264 36,808
129,445 105,879
CREDITORS
Amounts falling due within one year 6 218,805 162,338
NET CURRENT LIABILITIES (89,360 ) (56,459 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,689

255,137

CREDITORS
Amounts falling due after more than one
year

7

(86,911

)

(120,711

)

PROVISIONS FOR LIABILITIES 8 (46,386 ) (51,032 )
NET ASSETS 55,392 83,394

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,292 83,294
SHAREHOLDERS' FUNDS 55,392 83,394

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 director acknowledges his 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.

HASS FOODS LTD (REGISTERED NUMBER: 07110875)

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





Mr Orcun Hassan - Director


HASS FOODS LTD (REGISTERED NUMBER: 07110875)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Hass Foods Ltd 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.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.
The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% on reducing balance

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 Profit & Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

HASS FOODS LTD (REGISTERED NUMBER: 07110875)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 39,800 379,616 69,063 109,132 597,611
DEPRECIATION
At 1 January 2023 23,880 182,712 33,170 46,253 286,015
Charge for year 3,980 19,690 3,589 6,288 33,547
At 31 December 2023 27,860 202,402 36,759 52,541 319,562
NET BOOK VALUE
At 31 December 2023 11,940 177,214 32,304 56,591 278,049
At 31 December 2022 15,920 196,904 35,893 62,879 311,596

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 11,995 26,770 38,765
DEPRECIATION
At 1 January 2023 4,125 12,543 16,668
Charge for year 787 1,423 2,210
At 31 December 2023 4,912 13,966 18,878
NET BOOK VALUE
At 31 December 2023 7,083 12,804 19,887
At 31 December 2022 7,870 14,227 22,097

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 7,963 1,593
VAT 8,102 9,128
16,065 10,721

HASS FOODS LTD (REGISTERED NUMBER: 07110875)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 45,508 27,848
Trade creditors 130,069 92,260
Social security and other taxes 402 417
Pension 164 43
Other creditors 1,815 -
Credit card account 3,058 3,581
Directors' current accounts 37,789 38,189
218,805 162,338

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 86,911 120,711

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 46,386 51,032

Deferred
tax
£   
Balance at 1 January 2023 51,032
Provided during year (4,646 )
Balance at 31 December 2023 46,386