Acorah Software Products - Accounts Production 16.0.110 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 05882974 Mr Robert Furse Mr David Binns D H Binns and R Furse true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05882974 2023-06-30 05882974 2024-06-30 05882974 2023-07-01 2024-06-30 05882974 frs-core:CurrentFinancialInstruments 2024-06-30 05882974 frs-core:Non-currentFinancialInstruments 2024-06-30 05882974 frs-core:ComputerEquipment 2024-06-30 05882974 frs-core:ComputerEquipment 2023-07-01 2024-06-30 05882974 frs-core:ComputerEquipment 2023-06-30 05882974 frs-core:FurnitureFittings 2023-07-01 2024-06-30 05882974 frs-core:CapitalRedemptionReserve 2023-07-01 2024-06-30 05882974 frs-core:CapitalRedemptionReserve 2024-06-30 05882974 frs-core:SharePremium 2023-07-01 2024-06-30 05882974 frs-core:SharePremium 2024-06-30 05882974 frs-core:ShareCapital 2023-07-01 2024-06-30 05882974 frs-core:ShareCapital 2024-06-30 05882974 frs-core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 05882974 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05882974 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05882974 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05882974 frs-bus:SmallEntities 2023-07-01 2024-06-30 05882974 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05882974 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05882974 1 2023-07-01 2024-06-30 05882974 frs-bus:Director1 2023-07-01 2024-06-30 05882974 frs-bus:Director2 2023-07-01 2024-06-30 05882974 frs-bus:Director2 2023-06-30 05882974 frs-bus:Director2 2024-06-30 05882974 frs-countries:EnglandWales 2023-07-01 2024-06-30 05882974 2022-06-30 05882974 2023-06-30 05882974 2022-07-01 2023-06-30 05882974 frs-core:CurrentFinancialInstruments 2023-06-30 05882974 frs-core:Non-currentFinancialInstruments 2023-06-30 05882974 frs-core:CapitalRedemptionReserve 2022-07-01 2023-06-30 05882974 frs-core:CapitalRedemptionReserve 2022-06-30 05882974 frs-core:CapitalRedemptionReserve 2023-06-30 05882974 frs-core:SharePremium 2022-07-01 2023-06-30 05882974 frs-core:SharePremium 2022-06-30 05882974 frs-core:SharePremium 2023-06-30 05882974 frs-core:ShareCapital 2022-07-01 2023-06-30 05882974 frs-core:ShareCapital 2022-06-30 05882974 frs-core:ShareCapital 2023-06-30 05882974 frs-core:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 05882974 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-06-30 05882974 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05882974
R&D Foods Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 05882974
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 167 833
167 833
CURRENT ASSETS
Debtors 5 68,559 125,205
Cash at bank and in hand 4,296 16,471
72,855 141,676
Creditors: Amounts Falling Due Within One Year 6 (77,393 ) (122,231 )
NET CURRENT ASSETS (LIABILITIES) (4,538 ) 19,445
TOTAL ASSETS LESS CURRENT LIABILITIES (4,371 ) 20,278
Creditors: Amounts Falling Due After More Than One Year 7 (10,088 ) (20,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (41 ) (206 )
NET (LIABILITIES)/ASSETS (14,500 ) 72
CAPITAL AND RESERVES
Called up share capital 9 10 20
Share premium account 837 837
Capital redemption reserve 10 -
Profit and Loss Account (15,357 ) (785 )
SHAREHOLDERS' FUNDS (14,500) 72
Page 1
Page 2
For the year ending 30 June 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Furse
Director
Mr David Binns
Director
13 November 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Capital Redemption Profit and Loss Account Total
£ £ £ £ £
As at 1 July 2022 20 837 - 29,494 30,351
Loss for the year and total comprehensive income - - - (30,269 ) (30,269)
Purchase of own shares - - - (10 ) (10)
As at 30 June 2023 and 1 July 2023 20 837 - (785 ) 72
Loss for the year and total comprehensive income - - - (14,572 ) (14,572)
Purchase of own shares - - 10 - 10
As at 30 June 2024 10 837 10 (15,357 ) (14,500)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
R&D Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05882974 . The registered office is Canada House, First Floor, 20/20 Business Park, Maidstone, Kent, ME16 0LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.  The directors have pledged their ongoing financial support.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 3,789
As at 30 June 2024 3,789
Depreciation
As at 1 July 2023 2,956
Provided during the period 666
As at 30 June 2024 3,622
Net Book Value
As at 30 June 2024 167
As at 1 July 2023 833
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 66,450 89,631
Prepayments and accrued income 273 387
Other debtors - 30,000
VAT 1,836 5,187
68,559 125,205
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 61,760 77,125
Bank loans and overdrafts 9,956 10,000
Other creditors - 3,247
Accruals and deferred income 1,653 30,000
Directors' loan accounts 4,024 1,859
77,393 122,231
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,088 20,000
Page 5
Page 6
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 41 206
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 20
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans due to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr David Binns 1,859 1,243 3,408 - 4,024
The above loan is unsecured, interest free, repayable on demand and ranks equally with other unsecured creditors of the company.
11. Ultimate Controlling Party
The company's ultimate controlling party is D H Binns and R Furse by virtue of their ownership of 100% of the voting issued share capital in the company.
The day to day running of the business is undertaken by D H Binns.
Page 6