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REGISTERED NUMBER: 10637874 (England and Wales)










The Food Initiative Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






The Food Initiative Limited (Registered number: 10637874)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Food Initiative Limited

Company Information
for the year ended 29 February 2024







DIRECTOR: Mr M Jankel





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 10637874 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

The Food Initiative Limited (Registered number: 10637874)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,046 10,482

CURRENT ASSETS
Debtors 5 25,852 6,710
Cash at bank 439,024 268,659
464,876 275,369
CREDITORS
Amounts falling due within one year 6 281,604 106,706
NET CURRENT ASSETS 183,272 168,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,318

179,145

CREDITORS
Amounts falling due after more than one
year

7

18,593

27,743
NET ASSETS 172,725 151,402

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 172,724 151,401
172,725 151,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 November 2024 and were signed by:





Mr M Jankel - Director


The Food Initiative Limited (Registered number: 10637874)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

The Food Initiative 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

The Food Initiative Limited (Registered number: 10637874)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 32,192
Additions 238
At 29 February 2024 32,430
DEPRECIATION
At 1 March 2023 21,710
Charge for year 2,674
At 29 February 2024 24,384
NET BOOK VALUE
At 29 February 2024 8,046
At 28 February 2023 10,482

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 109
Other debtors 25,852 6,601
25,852 6,710

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,192 11,192
Trade creditors 29,939 11,893
Amounts owed to group undertakings 446 446
Taxation and social security 74,671 71,688
Other creditors 165,356 11,487
281,604 106,706

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 18,593 27,743

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Jankel.