Company Registration No. 11269209 (England and Wales)
Wiser Foods Uk Limited
Unaudited accounts
for the year ended 31 March 2024
Wiser Foods Uk Limited
Unaudited accounts
Contents
Wiser Foods Uk Limited
Company Information
for the year ended 31 March 2024
Directors
Maneet Pal Singh
Sanjit Pal Singh
Company Number
11269209 (England and Wales)
Registered Office
167-169 Great Portland Street
London
W1W 5PF
England
Accountants
HM Associates Services Ltd
30 Ashley Drive
Borehamwood
WD6 2JD
Wiser Foods Uk Limited
Statement of financial position
as at 31 March 2024
Inventories
113,423
400,850
Cash at bank and in hand
164,525
87,731
Creditors: amounts falling due within one year
(64,943)
(117,141)
Net current assets
276,065
402,363
Total assets less current liabilities
276,065
402,363
Creditors: amounts falling due after more than one year
-
(30,333)
Net assets
276,065
372,030
Called up share capital
432,100
432,100
Profit and loss account
(156,035)
(60,070)
Shareholders' funds
276,065
372,030
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by
Maneet Pal Singh
Director
Company Registration No. 11269209
Wiser Foods Uk Limited
Notes to the Accounts
for the year ended 31 March 2024
Wiser Foods Uk Limited is a private company, limited by shares, registered in England and Wales, registration number 11269209. The registered office is 167-169 Great Portland Street, London, W1W 5PF, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
In accordance with their responsibilities as director, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements.
The director has reviewed the impact on the company following the Covid-19 outbreak and consider that these events are expected to affect the company. However with the continuing financial support from the shareholders, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on straight line basis
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Wiser Foods Uk Limited
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
56,882
21,521
Accrued income and prepayments
2,218
2,654
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
14,000
Trade creditors
12,957
17,890
Taxes and social security
368
725
Loans from directors
51,500
84,300
7
Creditors: amounts falling due after more than one year
2024
2023
Wiser Foods Uk Limited
Notes to the Accounts
for the year ended 31 March 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
432,000 Preference shares of £1 each
432,000
432,000
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Average number of employees
During the year the average number of employees was 2 (2023: 2).