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Specialist Foods Limited

Financial Statements for the Year Ended 31 December 2024






Specialist Foods Limited (Registered number: 03591268)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Specialist Foods Limited

Company Information
for the year ended 31 December 2024







DIRECTOR: Mr M R Pullan





SECRETARY: Mrs A Pullan





REGISTERED OFFICE: Red Sky House
Fairclough Hall
Halls Green
Weston
Hertfordshire
SG4 7DP





REGISTERED NUMBER: 03591268 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Specialist Foods Limited (Registered number: 03591268)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,445 44,592
Investments 5 180,189 165,693
213,634 210,285

CURRENT ASSETS
Stocks 1,128,681 826,997
Debtors 6 1,584,951 1,579,906
Cash at bank and in hand 238,977 413,370
2,952,609 2,820,273
CREDITORS
Amounts falling due within one year 7 2,848,127 2,703,174
NET CURRENT ASSETS 104,482 117,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,116

327,384

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 8 56,938 42,442
Retained earnings 261,176 284,940
SHAREHOLDERS' FUNDS 318,116 327,384

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

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

The director acknowledges his 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 director and authorised for issue on 2 June 2025 and were signed by:



Mr M R Pullan - Director


Specialist Foods Limited (Registered number: 03591268)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Specialist 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.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 50% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024
and 31 December 2024 13,600 7,307 15,095 78,005 114,007
DEPRECIATION
At 1 January 2024 13,600 7,305 14,383 34,127 69,415
Charge for year - - 178 10,969 11,147
At 31 December 2024 13,600 7,305 14,561 45,096 80,562
NET BOOK VALUE
At 31 December 2024 - 2 534 32,909 33,445
At 31 December 2023 - 2 712 43,878 44,592

Specialist Foods Limited (Registered number: 03591268)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2024 165,693
Revaluations 17,816
Dividends received (3,320 )
At 31 December 2024 180,189
NET BOOK VALUE
At 31 December 2024 180,189
At 31 December 2023 165,693

Cost or valuation at 31 December 2024 is represented by:

Other
investments
£   
Valuation in 2015 (4,818 )
Valuation in 2016 15,127
Valuation in 2017 8,328
Valuation in 2018 44,632
Valuation in 2019 16,820
Valuation in 2020 (8,699 )
Valuation in 2021 20,553
Valuation in 2022 (10,890 )
Valuation in 2023 9,640
Valuation in 2024 14,496
Cost 75,000
180,189

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,115,003 713,510
Other debtors 24,553 26,583
VAT 131,308 101,903
Prepayments and accrued income 314,087 737,910
1,584,951 1,579,906

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,461,372 2,674,404
Corporation tax 27,408 24,323
Credit card 1,598 996
Directors' current accounts 2,313 2,001
Accrued expenses 355,436 1,450
2,848,127 2,703,174

Specialist Foods Limited (Registered number: 03591268)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

8. RESERVES
Revaluation
reserve
£   
At 1 January 2024 42,442
NFU investment revaluation 14,496

At 31 December 2024 56,938