Registered number
07647866
Food Forensics Limited
Filleted Accounts
30 June 2024
Food Forensics Limited
Registered number: 07647866
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 64,739 24,834
Tangible assets 4 497,940 557,604
562,679 582,438
Current assets
Stocks 55,000 55,000
Debtors 5 442,393 427,367
Cash at bank and in hand 468,017 509,825
965,410 992,192
Creditors: amounts falling due within one year 6 (698,683) (853,638)
Net current assets 266,727 138,554
Total assets less current liabilities 829,406 720,992
Creditors: amounts falling due after more than one year 7 (98,945) (106,787)
Provisions for liabilities (41,958) (54,438)
Net assets 688,503 559,767
Capital and reserves
Called up share capital 100 100
Profit and loss account 688,403 559,667
Shareholders' funds 688,503 559,767
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 has not been delivered to the Registrar of Companies.
Mrs A Johnson
Director
Approved by the board on 27 March 2025
Food Forensics Limited
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Plant and machinery over 4 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 30 27
3 Intangible fixed assets £
Website Development Costs:
Cost
At 1 July 2023 59,483
Additions 89,599
At 30 June 2024 149,082
Amortisation
At 1 July 2023 34,649
Provided during the year 49,694
At 30 June 2024 84,343
Net book value
At 30 June 2024 64,739
At 30 June 2023 24,834
Website development costs are being written off in equal annual instalments over the estimated economic life of 3 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 438,361 674,113 1,112,474
Additions - 20,650 20,650
At 30 June 2024 438,361 694,763 1,133,124
Depreciation
At 1 July 2023 49,958 504,912 554,870
Charge for the year 8,767 71,547 80,314
At 30 June 2024 58,725 576,459 635,184
Net book value
At 30 June 2024 379,636 118,304 497,940
At 30 June 2023 388,403 169,201 557,604
5 Debtors 2024 2023
£ £
Trade debtors 372,419 381,306
Other debtors 69,974 46,061
442,393 427,367
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,856 7,361
Trade creditors 173,393 197,681
Taxation and social security costs 218,997 147,055
Director's loan account 91,530 236,130
Other creditors 206,907 265,411
698,683 853,638
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 98,945 106,787
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 60,866 70,859
Secured bank loans 106,801 114,148
The bank loan is secured by a charge over the premises of the company.
9 Controlling party
By virtue of his shareholding Mr J Hughes controls the company.
10 Other information
Food Forensics Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Frensham Road
Sweetbriar Industrial Estate
Norwich
Norfolk
NR3 2BT
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