Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-3132023-08-01falseProduction of meat and poultry products3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10166116 2023-08-01 2024-07-31 10166116 2022-08-01 2023-07-31 10166116 2024-07-31 10166116 2023-07-31 10166116 c:Director2 2023-08-01 2024-07-31 10166116 d:PlantMachinery 2023-08-01 2024-07-31 10166116 d:PlantMachinery 2024-07-31 10166116 d:PlantMachinery 2023-07-31 10166116 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10166116 d:CurrentFinancialInstruments 2024-07-31 10166116 d:CurrentFinancialInstruments 2023-07-31 10166116 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10166116 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10166116 d:ShareCapital 2024-07-31 10166116 d:ShareCapital 2023-07-31 10166116 d:RetainedEarningsAccumulatedLosses 2024-07-31 10166116 d:RetainedEarningsAccumulatedLosses 2023-07-31 10166116 c:FRS102 2023-08-01 2024-07-31 10166116 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10166116 c:FullAccounts 2023-08-01 2024-07-31 10166116 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10166116 4 2023-08-01 2024-07-31 10166116 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 10166116










TRAILHEAD FINE FOODS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
TRAILHEAD FINE FOODS LIMITED
REGISTERED NUMBER: 10166116

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
482
725

  
482
725

Current assets
  

Stocks
  
13,198
12,312

Debtors: amounts falling due within one year
 6 
2,694
9,453

Cash at bank and in hand
 7 
7,218
6,808

  
23,110
28,573

Creditors: amounts falling due within one year
 8 
(21,615)
(137,992)

Net current assets/(liabilities)
  
 
 
1,495
 
 
(109,419)

Total assets less current liabilities
  
1,977
(108,694)

  

Net assets/(liabilities)
  
1,977
(108,694)


Capital and reserves
  

Called up share capital 
  
40,000
40,000

Profit and loss account
  
(38,023)
(148,694)

  
1,977
(108,694)


Page 1

 
TRAILHEAD FINE FOODS LIMITED
REGISTERED NUMBER: 10166116
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 November 2024.




D A Watkins OBE
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated and domiciled in the UK. The address of its registered office is Ty Cambrian, Welshpool, Powys, SY21 8JF.
The principal activity of the Company is the production of meat and poultry products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 August 2023
1,217



At 31 July 2024

1,217



Depreciation


At 1 August 2023
492


Charge for the year on owned assets
243



At 31 July 2024

735



Net book value



At 31 July 2024
482



At 31 July 2023
725

Page 5

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,694
6,637

Other debtors
-
2,816

2,694
9,453



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,218
6,808

7,218
6,808



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,650
32,754

Amounts owed to group undertakings
5,746
101,575

Other taxation and social security
679
808

Other creditors
516
2,855

Accruals and deferred income
1,024
-

21,615
137,992



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,142 (2023: £1,221). Contributions totaling £314 (2023: £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

Included in other creditors are loans from group companies totalling of £5,746 (2023: £101,575). These amounts are considered repayable on demand.

Page 6

 
TRAILHEAD FINE FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Controlling party

The Company is under the control of D A Watkins OBE by virtue of his majority shareholding in the Company's parent company, Irfon Valley Lamb Limited.

 
Page 7