Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31trueprocessing nuts2023-09-01false1716falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07787513 2023-09-01 2024-08-31 07787513 2022-09-01 2023-08-31 07787513 2024-08-31 07787513 2023-08-31 07787513 c:Director1 2023-09-01 2024-08-31 07787513 d:Buildings d:ShortLeaseholdAssets 2023-09-01 2024-08-31 07787513 d:Buildings d:ShortLeaseholdAssets 2024-08-31 07787513 d:Buildings d:ShortLeaseholdAssets 2023-08-31 07787513 d:PlantMachinery 2023-09-01 2024-08-31 07787513 d:PlantMachinery 2024-08-31 07787513 d:PlantMachinery 2023-08-31 07787513 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 07787513 d:FurnitureFittings 2023-09-01 2024-08-31 07787513 d:FurnitureFittings 2024-08-31 07787513 d:FurnitureFittings 2023-08-31 07787513 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 07787513 d:OfficeEquipment 2023-09-01 2024-08-31 07787513 d:OfficeEquipment 2024-08-31 07787513 d:OfficeEquipment 2023-08-31 07787513 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 07787513 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 07787513 d:CurrentFinancialInstruments 2024-08-31 07787513 d:CurrentFinancialInstruments 2023-08-31 07787513 d:Non-currentFinancialInstruments 2024-08-31 07787513 d:Non-currentFinancialInstruments 2023-08-31 07787513 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 07787513 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 07787513 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 07787513 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 07787513 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 07787513 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 07787513 d:ShareCapital 2024-08-31 07787513 d:ShareCapital 2023-08-31 07787513 d:RetainedEarningsAccumulatedLosses 2024-08-31 07787513 d:RetainedEarningsAccumulatedLosses 2023-08-31 07787513 c:OrdinaryShareClass1 2023-09-01 2024-08-31 07787513 c:OrdinaryShareClass1 2024-08-31 07787513 c:OrdinaryShareClass1 2023-08-31 07787513 c:FRS102 2023-09-01 2024-08-31 07787513 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07787513 c:FullAccounts 2023-09-01 2024-08-31 07787513 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07787513 d:WithinOneYear 2024-08-31 07787513 d:WithinOneYear 2023-08-31 07787513 d:BetweenOneFiveYears 2024-08-31 07787513 d:BetweenOneFiveYears 2023-08-31 07787513 2 2023-09-01 2024-08-31 07787513 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 07787513 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 07787513 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 07787513 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 07787513 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07787513








CAMBROOK FOODS LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024

 
CAMBROOK FOODS LIMITED
REGISTERED NUMBER: 07787513

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
430,907
430,936

  
430,907
430,936

Current assets
  

Stocks
 5 
342,700
288,700

Debtors: amounts falling due within one year
 6 
495,519
465,004

Cash at bank and in hand
  
26,713
114,713

  
864,932
868,417

Creditors: amounts falling due within one year
 7 
(574,212)
(540,077)

Net current assets
  
 
 
290,720
 
 
328,340

Total assets less current liabilities
  
721,627
759,276

Creditors: amounts falling due after more than one year
 8 
(484,886)
(514,234)

Provisions for liabilities
  

Deferred tax
 10 
(29,046)
-

  
 
 
(29,046)
 
 
-

Net assets
  
207,695
245,042


Capital and reserves
  

Called up share capital 
 11 
70,000
270,000

Profit and loss account
  
137,695
(24,958)

  
207,695
245,042


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

Page 1

 
CAMBROOK FOODS LIMITED
REGISTERED NUMBER: 07787513
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 November 2024.




M. H. Brooks
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Cambrook Foods Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07787513. The address of the registered office is Unit B1 Howard Tenens Estate, Macadam Way, Andover, Hampshire, SP10 3LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company amd the revenue can be reliably measured. Revenue is measured based on sale of nuts, excluding value added tax.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
10% straight line
Plant & machinery
-
10% straight line
Fixtures & fittings
-
15% straight line
Office equipment
-
20% - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income including profit and loss account.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).

Page 6

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Leasehold Improvements
Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
135,997
863,149
10,858
21,836
1,031,840


Additions
-
89,122
-
2,521
91,643


Disposals
-
(15,400)
-
-
(15,400)



At 31 August 2024

135,997
936,871
10,858
24,357
1,108,083



Depreciation


At 1 September 2023
100,917
479,994
4,693
15,300
600,904


Charge for the year on owned assets
9,945
73,176
1,677
2,973
87,771


Disposals
-
(11,499)
-
-
(11,499)



At 31 August 2024

110,862
541,671
6,370
18,273
677,176



Net book value



At 31 August 2024
25,135
395,200
4,488
6,084
430,907



At 31 August 2023
35,080
383,155
6,165
6,536
430,936


5.


Stocks

2024
2023
£
£

Raw materials
153,600
97,250

Finished goods and goods for resale
189,100
191,450

342,700
288,700


Page 7

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
460,499
403,071

Other debtors
-
1,350

Prepayments and accrued income
35,020
35,398

Deferred tax asset
-
25,185

495,519
465,004



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,000
10,000

Trade creditors
251,488
267,014

Other taxation and social security
66,144
72,464

Other creditors
244,080
188,699

Accruals and deferred income
2,500
1,900

574,212
540,077


A coronavirus bounce back loan of £50,000 was taken out during the year ended 31st August 2021 which was interest free for the first 12 months followed by interest at the rate of 2.5% per annum from            4th March 2022. The amount repayable after 12 months is shown within creditors falling due after more than one year.

Page 8

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
15,000
25,000

Other creditors
469,886
489,234

484,886
514,234


A coronavirus bounce back loan of £50,000 was taken out during the year ended 31st August 2021 which was interest free for the first 12 months followed by interest at the rate of 2.5% per annum from            4th March 2022. The amount repayable within 12 months is shown within creditors falling due within one year.
Other creditors include loans from Directors to the value of £400,000 (2023 - £400,000). These loans carry interest at the rate of 4% above the Royal Bank of Scotland Base Rate.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loan
15,000
25,000


15,000
25,000


25,000
35,000


Page 9

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Deferred taxation




2024


£






At beginning of year
25,185


Charged to profit or loss
(54,231)



At end of year
(29,046)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(107,581)
(105,513)

Tax losses carried forward
78,535
130,698

(29,046)
25,185


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



70,000 (2023 - 270,000) Ordinary shares of £1.00 each
70,000
270,000

The directors approved a capital reduction of £200,000 on the 10th July 2024. 


Page 10

 
CAMBROOK FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


12.


Commitments under operating leases

At 31 August 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
68,000
68,000

Later than 1 year and not later than 5 years
90,667
158,667

158,667
226,667

 
Page 11