REGISTERED NUMBER: 01737811 (England and Wales)

SOYFOODS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mrs T Jones

B Westwater-Jones

SECRETARY:

Mrs T Jones

REGISTERED OFFICE:

Unit 9

66 Snow Hill Industrial Estate

Melton Mowbray

Leicestershire

LE13 1PH

REGISTERED NUMBER:

01737811 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Property, plant and equipment

4

174,789

223,697

CURRENT ASSETS

Inventories

78,784

60,027

Debtors

5

73,646

92,927

Cash at bank

83,547

61,312

235,977

214,266

CREDITORS

Amounts falling due within one year

6

171,023

188,606

NET CURRENT ASSETS

64,954

25,660

TOTAL ASSETS LESS CURRENT LIABILITIES

239,743

249,357

CREDITORS

Amounts falling due after more than one year

7

(7,951

)

(19,491

)

PROVISIONS FOR LIABILITIES

(26,635

)

(26,442

)

NET ASSETS

205,157

203,424

CAPITAL AND RESERVES

Called up share capital

9

22,000

22,000

Retained earnings

183,157

181,424

SHAREHOLDERS' FUNDS

205,157

203,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:

Mrs T Jones - Director

1.	STATUTORY INFORMATION

Soyfoods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on cost, 15% on cost, 10% on cost and 3.33% on cost

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 August 2023

759,979

Additions

8,808

Disposals

(64,195

)

At 31 July 2024

704,592

DEPRECIATION

At 1 August 2023

536,282

Charge for year

36,056

Eliminated on disposal

(42,535

)

At 31 July 2024

529,803

NET BOOK VALUE

At 31 July 2024

174,789

At 31 July 2023

223,697

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

54,689

75,377

Other debtors

1,130

476

Tax

888

888

VAT

9,991

10,020

Prepayments and accrued income

6,948

6,166

73,646

92,927

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

9,154

9,160

Hire purchase contracts

2,116

9,245

Trade creditors

53,504

73,502

Taxation

1,932

-

Other taxes and social security

6,018

5,655

Other creditors

2,000

2,000

Directors' current accounts

54,825

47,492

Accruals and deferred income

6,870

3,025

Deferred government grants

34,604

38,527

171,023

188,606

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

7,951

9,389

Bank loans - 2-5 years

-

7,986

Hire purchase contracts

-

2,116

7,951

19,491

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

2,116

11,361

Hire purchase creditors are secured on the assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

22,000

Ordinary

£1

22,000

22,000

10.	OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

2024

2023

£

£

Due in less than one year

-

16,900

Due between two and five years

-

-

-

16,900