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REGISTERED NUMBER: 08506862 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

INGREDIENT BATCHING SYSTEMS LTD

INGREDIENT BATCHING SYSTEMS LTD (REGISTERED NUMBER: 08506862)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INGREDIENT BATCHING SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D G Drake
G S Matthews
T D Stewardson





REGISTERED OFFICE: Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 08506862 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

INGREDIENT BATCHING SYSTEMS LTD (REGISTERED NUMBER: 08506862)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 41,456 46,140

CURRENT ASSETS
Stocks 6 399,665 452,282
Debtors 7 289,516 516,249
Cash at bank 57,971 1,628
747,152 970,159
CREDITORS
Amounts falling due within one year 8 290,993 368,921
NET CURRENT ASSETS 456,159 601,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,615

647,378

CREDITORS
Amounts falling due after more than one year 9 96,982 142,229
NET ASSETS 400,633 505,149

CAPITAL AND RESERVES
Called up share capital 11 400 400
Retained earnings 400,233 504,749
SHAREHOLDERS' FUNDS 400,633 505,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:




T D Stewardson - Director



D G Drake - Director


INGREDIENT BATCHING SYSTEMS LTD (REGISTERED NUMBER: 08506862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Ingredient Batching Systems Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Business bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% per annum.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

INGREDIENT BATCHING SYSTEMS LTD (REGISTERED NUMBER: 08506862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 May 2023 17,711 8,387 19,000 6,924 52,022
Additions - - - 6,363 6,363
At 30 April 2024 17,711 8,387 19,000 13,287 58,385
Depreciation
At 1 May 2023 231 2,147 1,188 2,316 5,882
Charge for year 1,771 2,097 4,453 2,726 11,047
At 30 April 2024 2,002 4,244 5,641 5,042 16,929
Net book value
At 30 April 2024 15,709 4,143 13,359 8,245 41,456
At 30 April 2023 17,480 6,240 17,812 4,608 46,140

6. STOCKS
2024 2023
£    £   
Stocks 27,169 23,524
Work-in-progress 372,496 428,758
399,665 452,282

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 154,206 456,580
Other debtors 57,757 36,214
Prepayments and accrued income 77,553 23,455
289,516 516,249

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 44,985 76,620
Trade creditors 152,727 173,920
Tax - 36,766
Social security and other taxes 5,588 4,240
VAT 30,289 57,341
Other creditors 111 -
Credit cards 2,170 4,000
Pension 745 1,135
Directors' loan accounts 40,624 11,109
Accruals and deferred income 13,754 3,790
290,993 368,921

Bank loans include a Business Bounce Back Loan Scheme facility which is 100% guaranteed by the UK government. No interest is payable in year one, then being charged at 2.5% per annum thereafter. The interest on the other loan is charged at 9.40% per year.The other bank loan is secured by way of a debenture deed incorporating a fixed and floating charge in favour of the lender over the assets and undertakings of the company.

INGREDIENT BATCHING SYSTEMS LTD (REGISTERED NUMBER: 08506862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 96,982 142,229

Bank loans include a Business Bounce Back Loan Scheme facility which is 100% guaranteed by the UK government. No interest is payable in year one, then being charged at 2.5% per annum thereafter. The interest on the other loan is charged at 9.40% per year.The other bank loan is secured by way of a debenture deed incorporating a fixed and floating charge in favour of the lender over the assets and undertakings of the company.

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 27,545 29,797
Between one and five years 26,151 53,912
53,696 83,709

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
100 Ordinary C £1 100 100
400 400

Only Ordinary shares hold voting rights.

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £312 (2023: £4,056) to T D Stewardson, director. The loan was interest free (2023: £Nil) with no fixed repayment terms.

At the balance sheet date the company owed an amount of £Nil (2023: £2,900) to G S Matthews, director. The loan was interest free (2023: £Nil) with no fixed repayment terms.

At the balance sheet date the company owed an amount of £40,312 (2023: £4,154) to D G Drake, director. The loan was interest free (2023: £Nil) with no fixed repayment terms.