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REGISTERED NUMBER: 05029623 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Taste Tradition Limited

Taste Tradition Limited (Registered number: 05029623)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Taste Tradition Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C A Ashbridge
Mrs J C Ashbridge
I Welford





REGISTERED OFFICE: Mount Grace Farm
Cold Kirby
Thirsk
North Yorkshire
YO7 2HL





REGISTERED NUMBER: 05029623 (England and Wales)





ACCOUNTANTS: Frank Brown & Walford
Tees View
Sabatier Close
Stockton
TS17 6EW

Taste Tradition Limited (Registered number: 05029623)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 646,889 543,041

CURRENT ASSETS
Stocks 205,378 175,208
Debtors 5 2,065,117 1,235,624
Investments 6 575 528
Cash at bank and in hand 1,087,305 1,514,479
3,358,375 2,925,839
CREDITORS
Amounts falling due within one year 7 1,022,806 1,098,885
NET CURRENT ASSETS 2,335,569 1,826,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,982,458

2,369,995

CREDITORS
Amounts falling due after more than one
year

8

(72,600

)

(24,840

)

PROVISIONS FOR LIABILITIES (129,325 ) (78,076 )
NET ASSETS 2,780,533 2,267,079

Taste Tradition Limited (Registered number: 05029623)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 180 180
Share premium 34,990 34,990
Capital redemption reserve 20 20
Retained earnings 2,745,343 2,231,889
2,780,533 2,267,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 21 October 2024 and were signed on its behalf by:





C A Ashbridge - Director


Taste Tradition Limited (Registered number: 05029623)

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

1. STATUTORY INFORMATION

Taste Tradition 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 for goods supplied and services received, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.
Freehold property - not provided
Short leasehold - over the term of the lease
Plant and machinery - 5% and 20% on reducing balance
Fixtures and fittings - 33% on reducing balance and 20% on cost
Motor vehicles - 10% to 25% 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 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.


Taste Tradition Limited (Registered number: 05029623)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 28 ) .

Taste Tradition Limited (Registered number: 05029623)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 February 2023 90,000 134,973 390,790
Additions - - 131,707
Disposals - - (26,049 )
At 31 January 2024 90,000 134,973 496,448
DEPRECIATION
At 1 February 2023 - 134,973 184,977
Charge for year - - 37,262
Eliminated on disposal - - (18,522 )
At 31 January 2024 - 134,973 203,717
NET BOOK VALUE
At 31 January 2024 90,000 - 292,731
At 31 January 2023 90,000 - 205,813

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2023 80,861 338,660 1,035,284
Additions 10,196 124,017 265,920
Disposals - (118,831 ) (144,880 )
At 31 January 2024 91,057 343,846 1,156,324
DEPRECIATION
At 1 February 2023 28,869 143,424 492,243
Charge for year 17,904 52,736 107,902
Eliminated on disposal - (72,188 ) (90,710 )
At 31 January 2024 46,773 123,972 509,435
NET BOOK VALUE
At 31 January 2024 44,284 219,874 646,889
At 31 January 2023 51,992 195,236 543,041

Taste Tradition Limited (Registered number: 05029623)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 27,500 60,000 87,500
At 31 January 2024 27,500 60,000 87,500
NET BOOK VALUE
At 31 January 2024 27,500 60,000 87,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,128,298 1,019,217
Other debtors 936,819 216,407
2,065,117 1,235,624

6. CURRENT ASSET INVESTMENTS
31.1.24 31.1.23
£    £   
Other investments 575 528

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 47,701 4,240
Trade creditors 709,279 813,925
Taxation and social security 171,950 153,088
Other creditors 83,876 117,632
1,022,806 1,098,885

Taste Tradition Limited (Registered number: 05029623)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,950 24,840
Hire purchase contracts 57,650 -
72,600 24,840

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 105,351 4,240

Debts relating to assets under hire purchase are secured against the assets they relate to.

10. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments at the balance sheet date of £nil (2023:£13,500)

11. RELATED PARTY DISCLOSURES

The company is owed £737,000 from Ashbridge Holdings (Yorkshire) Limited as at 31 January 2024. Ashbridge Holdings (Yorkshire) Limited is a company controlled by Joyce Ashbridge and Charles Ashbridge.

No interest is charged on this amount and there are no fixed repayment terms.