BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year is the production and supply of health foods. 27 January 2025 0 0 NI050672 2024-06-30 NI050672 2023-06-30 NI050672 2022-06-30 NI050672 2023-07-01 2024-06-30 NI050672 2022-07-01 2023-06-30 NI050672 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI050672 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI050672 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI050672 uk-bus:AbridgedAccounts 2023-07-01 2024-06-30 NI050672 uk-core:ShareCapital 2024-06-30 NI050672 uk-core:ShareCapital 2023-06-30 NI050672 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI050672 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI050672 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI050672 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI050672 uk-bus:FRS102 2023-07-01 2024-06-30 NI050672 uk-core:Goodwill 2023-07-01 2024-06-30 NI050672 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI050672 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI050672 uk-core:Goodwill 2023-06-30 NI050672 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 NI050672 uk-core:Goodwill 2024-06-30 NI050672 uk-core:CostValuation 2024-06-30 NI050672 uk-core:Subsidiary1 2023-07-01 2024-06-30 NI050672 2023-07-01 2024-06-30 NI050672 uk-bus:CompanySecretaryDirector1 2023-07-01 2024-06-30 NI050672 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
Good 4U Food and Drink Company Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 June 2024



Good 4U Food and Drink Company Limited
Company Registration Number: NI050672
ABRIDGED BALANCE SHEET
as at 30 June 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 45,738 58,154
Investments 6 40,000 40,000
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Fixed Assets 85,738 98,154
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Current Assets
Stocks 42,839 54,948
Debtors 320,067 330,658
Cash and cash equivalents 1 (2,988)
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362,907 382,618
───────── ─────────
Creditors: amounts falling due within one year (407,190) (443,251)
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Net Current Liabilities (44,283) (60,633)
───────── ─────────
Total Assets less Current Liabilities 41,455 37,521
═════════ ═════════
 
Capital and Reserves
Called up share capital 228,501 228,501
Retained earnings (187,046) (190,980)
───────── ─────────
Equity attributable to owners of the company 41,455 37,521
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 27 January 2025
           
           
________________________________          
Bernie Butler          
Director          
           



Good 4U Food and Drink Company Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Good 4U Food and Drink Company Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI050672. The registered office of the company is Unit 7 FBIC, 45 Tullyhiggan Road, Loughry College Cookstown, Co. Tyrone, BT 808SG, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 June 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 12.5% straight line
  Fixtures, fittings and equipment - 25% straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 8, (2023 - 8).
       
4. Intangible assets
  Development  
  Costs Goodwill
  £ £
Cost
At 1 July 2023 39,537 20,895
  ───────── ─────────
 
At 30 June 2024 39,537 20,895
  ───────── ─────────
Amortisation
 
At 30 June 2024 39,537 20,895
  ───────── ─────────
Net book value
At 30 June 2024 - -
  ═════════ ═════════
 
Goodwill has been depreciated over 10 years.
         
5. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost
At 1 July 2023 411,268 24,681 435,949
Additions 3,690 300 3,990
  ───────── ───────── ─────────
At 30 June 2024 414,958 24,981 439,939
  ───────── ───────── ─────────
Depreciation
At 1 July 2023 354,300 23,495 377,795
Charge for the financial year 15,210 1,196 16,406
  ───────── ───────── ─────────
At 30 June 2024 369,510 24,691 394,201
  ───────── ───────── ─────────
Net book value
At 30 June 2024 45,448 290 45,738
  ═════════ ═════════ ═════════
At 30 June 2023 56,968 1,186 58,154
  ═════════ ═════════ ═════════
     
6. Investments
  Group and
  participating
  interests/
  joint ventures
Investments £
Cost
 
At 30 June 2024 40,000
  ─────────
Net book value
At 30 June 2024 40,000
  ═════════
At 30 June 2023 40,000
  ═════════
             
6.1. Holdings in related undertakings
 
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Food Nutrition and Innovations Ltd Ireland Manufacture and sale of seeds   A Ordinary Shares  
 
 
In the opinion of the director, the value to the company of the unlisted investments is not less than the book amount shown above.
           
7. Grants and state funding
 
State Department Grant Agency Type of Funding 2024 2023
      £ £
Department for the Economy Invest NI Revenue grant - 4,319
      ═════════ ═════════