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REGISTERED NUMBER: 05817493 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 AUGUST 2024

FOR

FLAVOURS FOODS LIMITED

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLAVOURS FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 AUGUST 2024







DIRECTORS: Mr A P Wileman
Mr A Wileman
Mr D P Hattee
Mr R P O'Donnell



SECRETARY: Mrs J D O'Donnell



REGISTERED OFFICE: Unit C
Burton Road Business Park
Monk Bretton
Barnsley
South Yorkshire
S71 5RN



REGISTERED NUMBER: 05817493 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Barclays Bank Plc
10 - 18 Queen Street
Barnsley
South Yorkshire
S70 2AJ

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

BALANCE SHEET
28 AUGUST 2024

28.8.24 28.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 309,387 284,135

CURRENT ASSETS
Stocks 225,659 292,748
Debtors 5 1,313,057 1,373,433
Cash at bank and in hand 690,571 429,753
2,229,287 2,095,934
CREDITORS
Amounts falling due within one year 6 1,123,398 1,417,091
NET CURRENT ASSETS 1,105,889 678,843
TOTAL ASSETS LESS CURRENT LIABILITIES 1,415,276 962,978

CREDITORS
Amounts falling due after more than one
year

7

(8,517

)

(90,285

)

PROVISIONS FOR LIABILITIES (77,317 ) (71,034 )
NET ASSETS 1,329,442 801,659

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 1,329,432 801,649
SHAREHOLDERS' FUNDS 1,329,442 801,659

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

BALANCE SHEET - continued
28 AUGUST 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 August 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 15 April 2025 and were signed on its behalf by:





Mr R P O'Donnell - Director


FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024

1. STATUTORY INFORMATION

Flavours Foods 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of food products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.


Improvements to property- 10% on reducing balance
Fixtures and fittings- 15% on reducing balance
Motor vehicles - 25% on reducing balance

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Hire purchase agreements
Assets held under hire purchase agreement are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 40 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 29 August 2023 26,725 303,039 225,065 554,829
Additions - 29,941 68,490 98,431
Disposals - - (19,695 ) (19,695 )
At 28 August 2024 26,725 332,980 273,860 633,565
DEPRECIATION
At 29 August 2023 14,547 180,717 75,430 270,694
Charge for year 1,195 20,061 47,424 68,680
Eliminated on disposal - - (15,196 ) (15,196 )
At 28 August 2024 15,742 200,778 107,658 324,178
NET BOOK VALUE
At 28 August 2024 10,983 132,202 166,202 309,387
At 28 August 2023 12,178 122,322 149,635 284,135

Hire purchase agreements

Included within the net book value of £309,387 is £104,715 (2023: £137,471) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £32,756 (2023: £34,094).

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.8.24 28.8.23
£    £   
Trade debtors 1,075,595 1,159,866
Other debtors 1,607 3,309
Directors' current accounts 150,402 30,960
VAT 85,453 179,298
1,313,057 1,373,433

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.8.24 28.8.23
£    £   
Bank loans and overdrafts - 50,000
Hire purchase contracts (see note 8) 38,118 49,979
Trade creditors 754,988 824,434
Corporation tax 274,513 130,000
Social security and other taxes 45,026 57,864
Other creditors 5,753 294,814
Accruals and deferred income 5,000 10,000
1,123,398 1,417,091

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.8.24 28.8.23
£    £   
Bank loans - 1-2 years - 41,667
Hire purchase contracts (see note 8) 8,517 48,618
8,517 90,285

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28.8.24 28.8.23
£    £   
Net obligations repayable:
Within one year 38,118 49,979
Between one and five years 8,517 48,618
46,635 98,597

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
28.8.24 28.8.23
£    £   
Within one year 24,500 34,617
Between one and five years 122,500 110,467
In more than five years - 13,800
147,000 158,884

9. SECURED DEBTS

The following secured debts are included within creditors:

28.8.24 28.8.23
£    £   
Bank loans - 91,667
Hire purchase contracts 46,635 98,597
46,635 190,264

Bank loans are secured by a fixed and floating charge over the assets of the company.

Hire purchase liabilities are secured against the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.8.24 28.8.23
value: £    £   
10 Ordinary shares £1 10 10

FLAVOURS FOODS LIMITED (REGISTERED NUMBER: 05817493)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 28 August 2024 and the period ended 28 August 2023:

28.8.24 28.8.23
£    £   
Mr A Wileman
Balance outstanding at start of year 9,739 23,739
Amounts advanced 72,429 26,000
Amounts repaid (22,500 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,668 9,739

Mr A P Wileman
Balance outstanding at start of year 13,240 33,240
Amounts advanced 164,511 22,500
Amounts repaid (112,500 ) (42,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,251 13,240

Mr R P O'Donnell
Balance outstanding at start of year 7,981 6,481
Amounts advanced 62,502 14,000
Amounts repaid (45,000 ) (12,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,483 7,981

12. RELATED PARTY DISCLOSURES

Other Related Parties

2024 2023
£ £
Sales 1,088,950 1,132,023
Purchases 10,853 16,734
Amounts due to related parties (1,501 ) (177,308 )
Amounts due from related parties 1,607 -