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TAKE STOCK FOODS LIMITED

Registered Number
12556903
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

TAKE STOCK FOODS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

ARMITAGE, Edward
ELLING, James John
LEATHER, Jessica Frances

Company Secretary

VP SECRETARIAL LIMITED

Registered Address

4 Coleman Street
6th Floor
London
EC2R 5AR

Registered Number

12556903 (England and Wales)
TAKE STOCK FOODS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets442,805-
Tangible assets51,8241,342
44,6291,342
Current assets
Stocks345,720168,825
Debtors6912,638229,980
Cash at bank and on hand674,143272,168
1,932,501670,973
Creditors amounts falling due within one year7(687,672)(540,281)
Net current assets (liabilities)1,244,829130,692
Total assets less current liabilities1,289,458132,034
Provisions for liabilities-(4,783)
Net assets1,289,458127,251
Capital and reserves
Called up share capital1,5141,171
Share premium2,504,212649,779
Profit and loss account(1,216,268)(523,699)
Shareholders' funds1,289,458127,251
The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2024, and are signed on its behalf by:
LEATHER, Jessica Frances
Director
Registered Company No. 12556903
TAKE STOCK FOODS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Office Equipment5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year85
3.Deferred tax
Deferred tax asset has been recognised to the extent there are sufficient estimated future taxable profits and/or taxable temporary differences against which the tax losses can be utilised.
4.Intangible assets

Total

£
Cost or valuation
At 01 May 2337,270
Additions84,595
Disposals(37,270)
At 30 April 2484,595
Amortisation and impairment
At 01 May 2337,270
Charge for year41,790
On disposals(37,270)
At 30 April 2441,790
Net book value
At 30 April 2442,805
At 30 April 23-
5.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 231,778
Additions1,008
At 30 April 242,786
Depreciation and impairment
At 01 May 23435
Charge for year527
At 30 April 24962
Net book value
At 30 April 241,824
At 30 April 231,342
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables377,467110,563
Other debtors465,38744,301
Prepayments and accrued income69,78475,116
Total912,638229,980
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables319,028238,367
Bank borrowings and overdrafts187,600157,747
Amounts owed to related parties-132,776
Other creditors5,4695,000
Accrued liabilities and deferred income175,5756,391
Total687,672540,281