Sandon Foods Limited 05660865 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is importing and exporting poultry and meat Digita Accounts Production Advanced 6.30.9574.0 true true 05660865 2023-02-01 2024-01-31 05660865 2024-01-31 05660865 bus:OrdinaryShareClass1 2024-01-31 05660865 core:CurrentFinancialInstruments 2024-01-31 05660865 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05660865 core:FurnitureFittingsToolsEquipment 2024-01-31 05660865 core:OtherPropertyPlantEquipment 2024-01-31 05660865 bus:SmallEntities 2023-02-01 2024-01-31 05660865 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05660865 bus:FullAccounts 2023-02-01 2024-01-31 05660865 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05660865 bus:RegisteredOffice 2023-02-01 2024-01-31 05660865 bus:CompanySecretary1 2023-02-01 2024-01-31 05660865 bus:Director2 2023-02-01 2024-01-31 05660865 bus:Director3 2023-02-01 2024-01-31 05660865 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05660865 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05660865 countries:AllCountries 2023-02-01 2024-01-31 05660865 2023-01-31 05660865 core:FurnitureFittingsToolsEquipment 2023-01-31 05660865 core:OtherPropertyPlantEquipment 2023-01-31 05660865 2022-02-01 2023-01-31 05660865 2023-01-31 05660865 bus:OrdinaryShareClass1 2023-01-31 05660865 core:CurrentFinancialInstruments 2023-01-31 05660865 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05660865

Sandon Foods Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Sandon Foods Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Sandon Foods Limited

Company Information

Directors

Mr Chapman

Mr Shane Sandall

Company secretary

Mr R Dorrian

Registered office

31 Chippenham Mews
Peterborough
PE2 7ZB

Accountants

AIMS Accountants
Fernwood Business Centre
Newark
Notts
NG24 3JP

 

Sandon Foods Limited

(Registration number: 05660865)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

8,670

8,670

Debtors

6

680,835

721,852

Cash at bank and in hand

 

13,771

46,932

 

703,276

777,454

Creditors: Amounts falling due within one year

7

(685,360)

(757,248)

Net assets

 

17,916

20,206

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

16,916

19,206

Shareholders' funds

 

17,916

20,206

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr Shane Sandall
Director

 

Sandon Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The address of its registered office is:
31 Chippenham Mews
Peterborough
PE2 7ZB
England

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sandon Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Sandon Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Sandon Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

3,827

930

4,757

At 31 January 2024

3,827

930

4,757

Depreciation

At 1 February 2023

3,827

930

4,757

At 31 January 2024

3,827

930

4,757

Carrying amount

At 31 January 2024

-

-

-

5

Stocks

2024
£

2023
£

Other inventories

8,670

8,670

6

Debtors

Current

2024
£

2023
£

Trade debtors

680,202

711,491

Prepayments

-

200

Other debtors

633

10,161

 

680,835

721,852

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

114,135

161,461

Trade creditors

 

557,327

567,883

Taxation and social security

 

874

2,849

Accruals and deferred income

 

776

12,830

Other creditors

 

12,248

12,225

 

685,360

757,248

 

Sandon Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

114,135

161,461

10

Dividends

   

2024

 

2023

   

£

 

£

Final dividend of £3.00 (2023 - £16.00) per ordinary share

 

3,000

 

16,000

Interim dividend of £Nil (2023 - £Nil) per ordinary share

 

-

 

-

   

3,000

 

16,000

         

11

Related party transactions

 

Sandon Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

41,640

30,840