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Registered number: 11629704
Spring Food Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11629704
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 41,673 50,006
Tangible Assets 5 16,218 28,949
57,891 78,955
CURRENT ASSETS
Stocks 6 31,864 38,958
Debtors 7 105,710 59,180
Cash at bank and in hand 73,182 14,197
210,756 112,335
Creditors: Amounts Falling Due Within One Year 8 (224,289 ) (180,662 )
NET CURRENT ASSETS (LIABILITIES) (13,533 ) (68,327 )
TOTAL ASSETS LESS CURRENT LIABILITIES 44,358 10,628
Creditors: Amounts Falling Due After More Than One Year 9 (140,061 ) (76,758 )
NET LIABILITIES (95,703 ) (66,130 )
CAPITAL AND RESERVES
Called up share capital 11 124,324 119,010
Share premium account 348,284 264,323
Profit and Loss Account (568,311 ) (449,463 )
SHAREHOLDERS' FUNDS (95,703) (66,130)
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr T Pryor
Director
29th May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Spring Food Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11629704 . The registered office is Unit 15 Five Tree Works, Bakers Lane, West Hanningfield, CM2 8LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over a 10 year straight line basis.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 20)
22 20
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 83,333
As at 31 October 2024 83,333
Amortisation
As at 1 November 2023 33,327
Provided during the period 8,333
As at 31 October 2024 41,660
Net Book Value
As at 31 October 2024 41,673
As at 1 November 2023 50,006
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 November 2023 18,260 30,577 39,150 87,987
As at 31 October 2024 18,260 30,577 39,150 87,987
...CONTINUED
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Depreciation
As at 1 November 2023 15,168 23,324 20,546 59,038
Provided during the period 1,404 3,497 7,830 12,731
As at 31 October 2024 16,572 26,821 28,376 71,769
Net Book Value
As at 31 October 2024 1,688 3,756 10,774 16,218
As at 1 November 2023 3,092 7,253 18,604 28,949
6. Stocks
2024 2023
£ £
Stock 31,864 38,958
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 94,571 38,031
Other debtors 11,139 21,149
105,710 59,180
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,339 11,038
Trade creditors 125,600 94,476
Bank loans and overdrafts 34,980 9,855
Other creditors 57,564 60,798
Taxation and social security 3,806 4,495
224,289 180,662
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,338
Bank loans over 1 yr 140,061 74,420
140,061 76,758
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,339 11,038
Later than one year and not later than five years - 2,338
2,339 13,376
2,339 13,376
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
124,324 Ordinary Shares of £ 1.00 each 124,324 119,010
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 34,170 34,170
Later than one year and not later than five years 45,560 79,730
79,730 113,900
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Thomas Pryor 4,411 3,708 (10,855 ) - (2,736 )
The above loan is unsecured, interest free and repayable on demand.
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