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Company No: 14781960 (England and Wales)

PINCH FOOD LTD

Unaudited Financial Statements
For the financial period from 05 April 2023 to 30 April 2024
Pages for filing with the registrar

PINCH FOOD LTD

Unaudited Financial Statements

For the financial period from 05 April 2023 to 30 April 2024

Contents

PINCH FOOD LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
PINCH FOOD LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 30.04.2024 04.04.2023
£ £
Fixed assets
Intangible assets 3 8,472 0
Tangible assets 4 5,825 0
14,297 0
Current assets
Stocks 3,263 0
Debtors 5 14,403 0
Cash at bank and in hand 28,702 0
46,368 0
Creditors: amounts falling due within one year 6 ( 123,192) 0
Net current liabilities (76,824) 0
Total assets less current liabilities (62,527) 0
Net liabilities ( 62,527) 0
Capital and reserves
Called-up share capital 7 100 0
Profit and loss account ( 62,627 ) 0
Total shareholder's deficit ( 62,527) 0

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Pinch Food Ltd (registered number: 14781960) were approved and authorised for issue by the Director on 25 October 2024. They were signed on its behalf by:

Katy Elizabeth Thompson
Director
PINCH FOOD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 05 April 2023 to 30 April 2024
PINCH FOOD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 05 April 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Pinch Food Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 44 Alleyn Road, Dulwich, London, SE21 8AL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £62,527. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 10 years straight line
Trademarks, patents and licences 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
05.04.2023 to
30.04.2024
Period from
01.05.2022 to
04.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including the director 2 0

3. Intangible assets

Computer software Trademarks, patents
and licences
Total
£ £ £
Cost
At 05 April 2023 0 0 0
Additions 7,250 1,860 9,110
At 30 April 2024 7,250 1,860 9,110
Accumulated amortisation
At 05 April 2023 0 0 0
Charge for the financial period 483 155 638
At 30 April 2024 483 155 638
Net book value
At 30 April 2024 6,767 1,705 8,472
At 04 April 2023 0 0 0

4. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 05 April 2023 0 0 0
Additions 4,710 1,618 6,328
At 30 April 2024 4,710 1,618 6,328
Accumulated depreciation
At 05 April 2023 0 0 0
Charge for the financial period 200 303 503
At 30 April 2024 200 303 503
Net book value
At 30 April 2024 4,510 1,315 5,825
At 04 April 2023 0 0 0

5. Debtors

30.04.2024 04.04.2023
£ £
Trade debtors 9,689 0
Other debtors 4,714 0
14,403 0

6. Creditors: amounts falling due within one year

30.04.2024 04.04.2023
£ £
Trade creditors 18,259 0
Amounts owed to Parent undertakings 99,900 0
Other taxation and social security 4,706 0
Other creditors 327 0
123,192 0

7. Called-up share capital

30.04.2024 04.04.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (04.04.2023: nil shares) 100 0

On incorporation, 100 Ordinary shares were allotted and issued at par.

8. Related party transactions

As the company is a wholly owned subsidiary of Pinch Group Holdings Limited, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.

9. Ultimate controlling party

Parent Company:

Pinch Group Holdings Ltd
44 Alleyn Road Dulwich, London, SE21 8AL, United Kingdom