2023-01-012023-12-312023-12-31false04931043FOODSMITHS LIMITED2024-10-31iso4217:GBPxbrli:pure049310432023-01-01049310432023-12-31049310432023-01-012023-12-31049310432022-01-01049310432022-12-31049310432022-01-012022-12-3104931043bus:SmallEntities2023-01-012023-12-3104931043bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3104931043bus:FullAccounts2023-01-012023-12-3104931043bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104931043core:WithinOneYear2023-12-3104931043core:AfterOneYear2023-12-3104931043core:WithinOneYear2022-12-3104931043core:AfterOneYear2022-12-3104931043core:ShareCapital2023-12-3104931043core:SharePremium2023-12-3104931043core:RevaluationReserve2023-12-3104931043core:OtherReservesSubtotal2023-12-3104931043core:RetainedEarningsAccumulatedLosses2023-12-3104931043core:ShareCapital2022-12-3104931043core:SharePremium2022-12-3104931043core:RevaluationReserve2022-12-3104931043core:OtherReservesSubtotal2022-12-3104931043core:RetainedEarningsAccumulatedLosses2022-12-3104931043core:LandBuildings2023-12-3104931043core:PlantMachinery2023-12-3104931043core:Vehicles2023-12-3104931043core:FurnitureFittings2023-12-3104931043core:OfficeEquipment2023-12-3104931043core:NetGoodwill2023-12-3104931043core:IntangibleAssetsOtherThanGoodwill2023-12-3104931043core:ListedExchangeTraded2023-12-3104931043core:UnlistedNon-exchangeTraded2023-12-3104931043core:LandBuildings2022-12-3104931043core:PlantMachinery2022-12-3104931043core:Vehicles2022-12-3104931043core:FurnitureFittings2022-12-3104931043core:OfficeEquipment2022-12-3104931043core:NetGoodwill2022-12-3104931043core:IntangibleAssetsOtherThanGoodwill2022-12-3104931043core:ListedExchangeTraded2022-12-3104931043core:UnlistedNon-exchangeTraded2022-12-3104931043core:LandBuildings2023-01-012023-12-3104931043core:PlantMachinery2023-01-012023-12-3104931043core:Vehicles2023-01-012023-12-3104931043core:FurnitureFittings2023-01-012023-12-3104931043core:OfficeEquipment2023-01-012023-12-3104931043core:NetGoodwill2023-01-012023-12-3104931043core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3104931043core:ListedExchangeTraded2023-01-012023-12-3104931043core:UnlistedNon-exchangeTraded2023-01-012023-12-3104931043core:MoreThanFiveYears2023-01-012023-12-3104931043core:Non-currentFinancialInstruments2023-12-3104931043core:Non-currentFinancialInstruments2022-12-3104931043dpl:CostSales2023-01-012023-12-3104931043dpl:DistributionCosts2023-01-012023-12-3104931043core:LandBuildings2023-01-012023-12-3104931043core:PlantMachinery2023-01-012023-12-3104931043core:Vehicles2023-01-012023-12-3104931043core:FurnitureFittings2023-01-012023-12-3104931043core:OfficeEquipment2023-01-012023-12-3104931043dpl:AdministrativeExpenses2023-01-012023-12-3104931043core:NetGoodwill2023-01-012023-12-3104931043core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3104931043dpl:GroupUndertakings2023-01-012023-12-3104931043dpl:ParticipatingInterests2023-01-012023-12-3104931043dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3104931043core:ListedExchangeTraded2023-01-012023-12-3104931043dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3104931043core:UnlistedNon-exchangeTraded2023-01-012023-12-3104931043dpl:CostSales2022-01-012022-12-3104931043dpl:DistributionCosts2022-01-012022-12-3104931043core:LandBuildings2022-01-012022-12-3104931043core:PlantMachinery2022-01-012022-12-3104931043core:Vehicles2022-01-012022-12-3104931043core:FurnitureFittings2022-01-012022-12-3104931043core:OfficeEquipment2022-01-012022-12-3104931043dpl:AdministrativeExpenses2022-01-012022-12-3104931043core:NetGoodwill2022-01-012022-12-3104931043core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3104931043dpl:GroupUndertakings2022-01-012022-12-3104931043dpl:ParticipatingInterests2022-01-012022-12-3104931043dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3104931043core:ListedExchangeTraded2022-01-012022-12-3104931043dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3104931043core:UnlistedNon-exchangeTraded2022-01-012022-12-3104931043core:NetGoodwill2023-12-3104931043core:IntangibleAssetsOtherThanGoodwill2023-12-3104931043core:LandBuildings2023-12-3104931043core:PlantMachinery2023-12-3104931043core:Vehicles2023-12-3104931043core:FurnitureFittings2023-12-3104931043core:OfficeEquipment2023-12-3104931043core:AfterOneYear2023-12-3104931043core:WithinOneYear2023-12-3104931043core:ListedExchangeTraded2023-12-3104931043core:UnlistedNon-exchangeTraded2023-12-3104931043core:ShareCapital2023-12-3104931043core:SharePremium2023-12-3104931043core:RevaluationReserve2023-12-3104931043core:OtherReservesSubtotal2023-12-3104931043core:RetainedEarningsAccumulatedLosses2023-12-3104931043core:NetGoodwill2022-12-3104931043core:IntangibleAssetsOtherThanGoodwill2022-12-3104931043core:LandBuildings2022-12-3104931043core:PlantMachinery2022-12-3104931043core:Vehicles2022-12-3104931043core:FurnitureFittings2022-12-3104931043core:OfficeEquipment2022-12-3104931043core:AfterOneYear2022-12-3104931043core:WithinOneYear2022-12-3104931043core:ListedExch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FOODSMITHS LIMITED

Registered Number
04931043
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FOODSMITHS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

E N Chadd
N J Chadd

Company Secretary

N J Chadd

Registered Address

Chadds Of Bude Ltd & Foodsmiths Ltd Stratton View Business Park
Stratton
Bude
EX23 9NR

Registered Number

04931043 (England and Wales)
FOODSMITHS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets36,0006,000
Tangible assets4-1
6,0006,001
Current assets
Debtors584,824110,937
Cash at bank and on hand7564,111
85,580115,048
Creditors amounts falling due within one year6(189,883)(194,015)
Net current assets (liabilities)(104,303)(78,967)
Total assets less current liabilities(98,303)(72,966)
Creditors amounts falling due after one year7(24,167)(34,167)
Net assets(122,470)(107,133)
Capital and reserves
Called up share capital300,000300,000
Profit and loss account(422,470)(407,133)
Shareholders' funds(122,470)(107,133)
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2024, and are signed on its behalf by:
N J Chadd
Director
Registered Company No. 04931043
FOODSMITHS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings15-
Vehicles-20
Office Equipment-20
Related parties
Chadds of Bude Ltd A company in which the directors and shareholders Mr N E Chadd and Mr N J Chadd are also directors and shareholders. During the year, Foodsmiths Limited made purchases from Chadds of Bude Limited totalling £0 (2022: £493,424) Managerial service charges totalling £19,112 (2022: £108,995) were made to Chadds of Bude Limited within the year. Managerial service charges totalling £0 (2022: NIL) were made to Foodsmiths Limited from Chadds of Bude. At the balance sheet date, Foodsmiths Limited was owed £76,002 (2022: £116,650) by Chadds of Bude Limited. This balances has been disclosed within trade debtors. At the balance sheet date, Foodsmiths Limited owed ££92,803 (2022: £92,803) to Chadds of Bude Limited. This balance has been included within trade creditors. Transactions between Foodsmiths Limited and Chadds of Bude Limited in terms of revenue and cost of sales, have been netted of against each other within the year.
2.Average number of employees

20232022
Average number of employees during the year222
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 236,0006,000
At 31 December 236,0006,000
Net book value
At 31 December 236,0006,000
At 31 December 226,0006,000
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2358,40821,29818,99615,659114,361
At 31 December 2358,40821,29818,99615,659114,361
Depreciation and impairment
At 01 January 2358,40821,29818,99615,658114,360
Charge for year---11
At 31 December 2358,40821,29818,99615,659114,361
Net book value
At 31 December 23-----
At 31 December 22---11
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables82,448108,403
Other debtors2,3762,534
Total84,824110,937
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables71,74874,969
Other creditors116,318117,847
Accrued liabilities and deferred income1,8171,199
Total189,883194,015
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts24,16734,167
Total24,16734,167