SC371312falseto promote, educate and encourage the production, delivery, sale and consumption of local food and drink in Fife2023-11-012024-10-31http://www.companieshouse.gov.uk/2023-10-31http://www.companieshouse.gov.uk/cd:Director12023-11-012024-10-31http://www.companieshouse.gov.uk/cd:Director22023-11-012024-10-31http://www.companieshouse.gov.uk/cd:Director32023-11-012024-10-31http://www.companieshouse.gov.uk/cd:Director42023-11-012024-10-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-11-012024-10-31http://www.companieshouse.gov.uk/cd:Director52023-11-012024-10-31http://www.companieshouse.gov.uk/cd:Director62023-11-012024-10-31http://www.companieshouse.gov.uk/cd:Director72023-11-012024-10-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-11-012024-10-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-10-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-10-31http://www.companieshouse.gov.uk/2023-11-012024-10-31http://www.companieshouse.gov.uk/2023-10-31http://www.companieshouse.gov.uk/cd:FRS1022023-11-012024-10-31http://www.companieshouse.gov.uk/2024-10-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-11-012024-10-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-11-012024-10-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SC371312

Fife Food Network

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Fife Food Network

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
DIRECTORS
William Docker
Daniel Connolly
Owen Hazel
Jennifer Thomson
Steven McKay
Chloe Milne
Roseanne Jack
REGISTERED OFFICE
Unit G6
The Granary Business Centre
Cupar
Fife
KY15 5YQ
COMPANY DETAILS
Private company limited by guarantee registered in SC - Scotland, registered number SC371312
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Fife Food Network

FINANCIAL STATEMENTS
FOR THEYEARENDED31 OCTOBER 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Fife Food Network

BALANCE SHEET AT 31 October 2024
20242023
Notes££
CURRENT ASSETS
Debtors31765,235
Cash at bank and in hand15,35646,713
15,53251,948
CREDITORS: Amounts falling due within one year411,21623,741
NET CURRENT ASSETS4,31628,207
TOTAL ASSETS LESS CURRENT LIABILITIES4,31628,207
CAPITAL AND RESERVES
Profit and loss account4,31628,207
SHAREHOLDERS' FUNDS4,31628,207
For the year ending 31 October 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 19 June 2025 and signed on their behalf by
.............................
William Docker
Director

Fife Food Network

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES
1a. General Information And Basis Of Preparation
The company is limited by guarantee and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.
1b. Turnover
Membership fees are recognised in the period to which they relate.
Donations are included in the financial statements in the period in which they are received.
Grants are included in the financial statements in the period to which they relate.
1c. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1d. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Fife Food Network

1e. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted. The company is not liable to Corporation Tax on its activities with members. Corporation Tax is payable on investment income.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1f. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. EMPLOYEES
20242023
No.No.
Average number of employees--
3. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors-5,000
Other debtors176235
1765,235

Fife Food Network

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Trade creditors-1,560
Other creditors11,21622,181
11,21623,741
5. CONTROLLING PARTY
As the company is limited by guarantee, the directors consider that there is no single ultimate controlling party.