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Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Coldpress Foods Limited

Coldpress Foods Limited (Registered number: 07694037)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Coldpress Foods Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A D B Gibb
P R Bragg
R F H Petch
J M Swales





REGISTERED OFFICE: 4 The Mews
Bridge Street
Twickenham
Middlesex
TW1 1RF





REGISTERED NUMBER: 07694037 (England and Wales)






Coldpress Foods Limited (Registered number: 07694037)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 315,524 323,840
Debtors 6 1,554,156 1,626,721
Cash at bank 202,394 283,461
2,072,074 2,234,022
CREDITORS
Amounts falling due within one year 7 1,583,458 1,369,047
NET CURRENT ASSETS 488,616 864,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

488,616

864,975

CREDITORS
Amounts falling due after more than one
year

8

211,196

219,372
NET ASSETS 277,420 645,603

CAPITAL AND RESERVES
Called up share capital 9 76,919 76,919
Share premium 6,841,753 6,841,753
Capital redemption reserve 57,244 57,244
Retained earnings (6,698,496 ) (6,330,313 )
SHAREHOLDERS' FUNDS 277,420 645,603

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.

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 11 October 2024 and were signed on its behalf by:





A D B Gibb - Director


Coldpress Foods Limited (Registered number: 07694037)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Coldpress Foods 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.

Intangible assets
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.

Computer software is being amortised evenly over its estimated useful life of three years.

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 etc - 25% on cost and 15% on cost

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.

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.

Going concern
The financial statements have been prepared on the assumption that the company is a going concern and will continue for the foreseeable future. In making this assumption the company is relying upon the continued support of its shareholders.

The financial statements, therefore, do not include any adjustments that would be required to reflect a withdrawal of support by the shareholders.

Coldpress Foods Limited (Registered number: 07694037)

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 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 4,209
AMORTISATION
At 1 January 2023
and 31 December 2023 4,209
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 103,372
DEPRECIATION
At 1 January 2023
and 31 December 2023 103,372
NET BOOK VALUE
At 31 December 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 861,483 950,048
Other debtors 692,673 676,673
1,554,156 1,626,721

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 556,448 493,435
Taxation and social security 312,144 332,273
Other creditors 709,866 538,339
1,583,458 1,369,047

Coldpress Foods Limited (Registered number: 07694037)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,284 38,460
Other creditors 180,912 180,912
211,196 219,372

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
76,919,297 Ordinary .001 76,919 76,919

10. POST BALANCE SHEET EVENTS

In January 2024 supportive existing shareholders subscribed for £354,800 of convertible loan notes, secured against the Delafruit SL court case.

In June 2024 supportive existing shareholders subscribed for £66,000 of new equity.

11. MATTERS MATERIAL TO THE FINANCIAL STATEMENTS

The losses sustained in 2018 were largely the result of an ongoing legal dispute that began in October 2017 with Delafruit SL (formerly Go Fruselva SL) regarding multiple breaches of contract committed against Coldpress Foods Limited. Such breaches resulted in the loss of key clients and significant operational losses and damage to the Coldpress good name in 2017/18. Damages have been sought, through the Spanish Courts, from Delafruit SL for the contract breaches, the claim is significant. The company reserves the right to restate the accounts following the final outcome of the litigation, which is not anticipated until later in 2025.