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REGISTERED NUMBER: 08727604 (England and Wales)














FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024

FOR

WEAR VALLEY FOODS (DURHAM) LIMITED

WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEAR VALLEY FOODS (DURHAM) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024







DIRECTOR: W Fleming





REGISTERED OFFICE: Finchale House
Belmont Business Park
Durham
DH1 1TW





REGISTERED NUMBER: 08727604 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 124,495
- 124,495

CURRENT ASSETS
Stocks - 35,966
Debtors 6 650,853 67,320
Cash at bank and in hand 155,769 463,396
806,622 566,682
CREDITORS
Amounts falling due within one year 7 75,933 50,336
NET CURRENT ASSETS 730,689 516,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,689

640,841

PROVISIONS FOR LIABILITIES - 31,124
NET ASSETS 730,689 609,717

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 730,589 609,617
SHAREHOLDERS' FUNDS 730,689 609,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 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.

WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2024 and were signed by:





W Fleming - Director


WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Wear Valley Foods (Durham) 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, excluding value added tax.

Turnover is derived from the principal activity of the company, which is that of wholesale of food, and is recognised when the company becomes entitled to it.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of 5 years.

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.

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 - 15% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The financial statements have been prepared on the going concern basis. This is considered appropriate as the ultimate beneficial shareholders will continue to provide financial support to the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023 18,833
Disposals (18,833 )
At 30 September 2024 -
AMORTISATION
At 1 November 2023 18,833
Eliminated on disposal (18,833 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 302,553
Disposals (302,553 )
At 30 September 2024 -
DEPRECIATION
At 1 November 2023 178,058
Charge for period 24,944
Eliminated on disposal (203,002 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 October 2023 124,495

WEAR VALLEY FOODS (DURHAM) LIMITED (REGISTERED NUMBER: 08727604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 60,638
Other debtors 650,853 6,682
650,853 67,320

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 160
Taxation and social security 72,933 47,768
Other creditors 3,000 2,408
75,933 50,336

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 October 2023:

2024 2023
£    £   
W Fleming
Balance outstanding at start of period - -
Amounts advanced 646,592 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 646,592 -

10. RELATED PARTY DISCLOSURES

Business premises at Compound 1, Tudhoe Industrial Estate, Spennymoor, County Durham were owned by the sole director of the company, and were occupied rent free by the company during the year.