Registered number
05805295
Earth Natural Foods Ltd
Unaudited Filleted Accounts
31 October 2024
Smithfield Accountants LLP
Chartered Accountants
Suite 1, Unit 2, Stansted Courtyard
Parsonage Road, Takeley, Essex, CM22 6PU
Earth Natural Foods Ltd
Registered number: 05805295
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 6 17,661 8,542
Current assets
Stocks 205,197 203,532
Debtors 7 16,897 16,860
Cash at bank and in hand 175,015 98,627
397,109 319,019
Creditors: amounts falling due within one year 8 (232,671) (208,940)
Net current assets 164,438 110,079
Total assets less current liabilities 182,099 118,621
Net assets 178,338 117,604
Capital and reserves
Called up share capital 10 80 70
Capital redemption reserve 11 40 40
Profit and loss account 12 178,218 117,494
Shareholders' funds 178,338 117,604
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The Profit and Loss Account and Directors' Report have not been delivered to the Registrar of Companies.
Y Perivolas
Director
Approved by the board on 12 March 2025
Earth Natural Foods Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, Machinery, Fixtures & Fittings 20% Written Down Value
Leasehold Premises Over 15 Years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 4,415 2,135
Accountancy 4,400 4,240
Legal and professional - -
Directors' remuneration 42,000 40,000
Bank charges and interest 18,937 22,072
3 Taxation 2024 2023
£ £
Balance sheet
Corporation tax payable on 01.08.2025 65,254 37,172
Profit and loss account
Prior year (over)/under provisions - -
UK corporation tax charge/(refund) @ 25% (2023 - 19% and 25%) on profits 65,242 37,172
Transfer/(released) to deferred taxation 2,744 1,757
67,986 38,929
4 Wages and NI 2024 2023
£ £
Gross wages 576,625 518,100
Employers NI 43,965 38,661
Company contributions to defined contribution pension plans 7,100 4,808
627,690 561,569
Average number of persons employed by the company 26 28
5 Director's emoluments 2024 2023
£ £
Gross wages 42,000 40,000
Employers NI 4,541 3,991
Company contributions to defined contribution pension plans 1,013 1,013
43,013 41,013
Highest paid director:
Gross wages 42,000 40,000
Employers NI 4,541 3,991
Company contributions to defined contribution pension plans 1,013 1,013
43,013 41,013
6 Tangible fixed assets
Plant and machinery Leasehold land and buildings Total
£ £ £
Cost
At 1 November 2023 150,602 225,008 375,610
Additions 13,534 - 13,534
Surplus on revaluation - - -
Disposals - - -
At 31 October 2024 164,136 225,008 389,144
Depreciation
At 1 November 2023 142,061 225,007 367,068
Charge for the year 4,415 - 4,415
Surplus on revaluation - - -
On disposals - - -
At 31 October 2024 146,476 225,007 371,483
Net book value
At 31 October 2024 17,660 1 17,661
At 31 October 2023 8,541 1 8,542
7 Debtors 2024 2023
£ £
Trade debtors - -
Deferred tax asset (note 9) - -
Other debtors 16,897 16,860
16,897 16,860
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 146,993 151,355
Corporation tax 65,254 37,172
Other taxes and social security costs 8,457 11,143
Other creditors 11,967 9,270
232,671 208,940
9 Provision for liabilities
Deferred tax:
Accelerated capital allowances
Deferred tax brought forward 1,017 (740)
Charge/(credit) to profit and loss account 2,744 1,757
Deferred tax carried forward 3,761 1,017
10 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 60 60 60
Redeemable preference shares 'A' £1 each 10 10 10
Redeemable preference shares 'B' £1 each 10 10 -
80 70
Authorised:
Ordinary shares £1 each 1,000,000 1,000,000 1,000,000
Redeemable preference shares 'A' £1 each 10 10 10
Redeemable preference shares 'B' £1 each 10 10 -
1,000,020 1,000,010
11 Capital redemption reserve 2024 2023
£ £
At 1 November 2023 40 40
Shares redeemed out of reserves - -
At 31 October 2024 40 40
12 Profit and loss account 2024 2023
£ £
At 1 November 2023 117,494 57,611
Profit for the year 202,724 139,883
Shares redeemed out of reserves - -
Dividends (142,000) (80,000)
At 31 October 2024 178,218 117,494
13 Related party transactions
There were no related party transactions in the year or the comparative year.
14 Controlling party
The company is controlled by three shareholders. No one shareholder has control of the company.
15 Presentation currency
The accounts are presented in British Pounds Sterling.
16 Other information
Earth Natural Foods Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 1, Unit 2
Stansted Courtyard, Parsonage Road
Takeley
Essex
CM22 6PU
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