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Registration number: SC292732

Food Options Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Food Options Holdings Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Food Options Holdings Limited

Company Information

Directors

A Reilly

A Lamond

Company secretary

A Lamond

Registered office

 

8 Oakbank Park Place
Oakbank Industrial Estate
Livingston
West Lothian
EH53 0TN

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Food Options Holdings Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Food Options Holdings Limited for the year ended 31 May 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Food Options Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Food Options Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Food Options Holdings Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Food Options Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Food Options Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Food Options Holdings Limited. You consider that Food Options Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Food Options Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

26 February 2025

 

Food Options Holdings Limited

(Registration number: SC292732)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

2,137,435

2,137,435

Creditors: Amounts falling due within one year

5

(258,885)

(238,706)

Total assets less current liabilities

 

1,878,550

1,898,729

Creditors: Amounts falling due after more than one year

5

-

(258,714)

Net assets

 

1,878,550

1,640,015

Capital and reserves

 

Called up share capital

90

90

Capital redemption reserve

9

9

Retained earnings

1,878,451

1,639,916

Shareholders' funds

 

1,878,550

1,640,015

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

 

Food Options Holdings Limited

(Registration number: SC292732)
Balance Sheet as at 31 May 2024

.........................................
A Reilly
Director

 

Food Options Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
8 Oakbank Park Place
Oakbank Industrial Estate
Livingston
West Lothian
EH53 0TN

These financial statements were authorised for issue by the Board on 26 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Food Options Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Investments

Investments are recognised using the impaired cost method as fair value is not possible to determine without undue cost and effort.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

4

Investments

Shares in group undertaking
£

Total
£

FA investment - unlisted other shares bfwd

2,137,435

2,137,435

At 31 May 2024

2,137,435

2,137,435

At 31 May 2024

2,137,435

2,137,435

 

Food Options Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

171

171

Owed by/(from) group undertakings

258,714

238,535

258,885

238,706

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Owed by/(from) group undertakings

-

258,714

6

Related party transactions

A Lamond
The company has entered into a Buy Back Agreement to purchase the ordinary shares in the company held by A Lamond, a director. The agreement can be exercised at the option of A Lamond and the exercise may be at any time after 5 December 2008. The purchase price will be determined based on a formula related to the group's profitability at the time of the exercise, and is subject to various other conditions.

The company operates a loan account with the subsidiary company, Food Options UK Limited
During the year, the company repaid loans totalling £238,535 to Food Options UK Limited, paid interest of £18,969 (2023 - £27,922) and received dividends of £257,504 (2023 - £257,504). At the year end, the balance due to Food Options UK Limited was £258,714 (2023 - £497,249).