Company registration number 06377561 (England and Wales)
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
COMPANY INFORMATION
Director
Mr D Haythornthwaite
Company number
06377561
Registered office
Animal House
Boundary Road
Lytham
Lancashire
FY8 5LT
Auditor
Bishops Audit Limited
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 8
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
6
294
Tangible assets
5
229
523
Current assets
Debtors
8
556,001
643,471
Cash at bank and in hand
1,736
11,099
557,737
654,570
Creditors: amounts falling due within one year
7
(587,660)
(640,559)
Net current (liabilities)/assets
(29,923)
14,011
Net (liabilities)/assets
(29,923)
14,534
Capital and reserves
Called up share capital
10
1
1
Profit and loss reserves
(29,924)
14,533
Total equity
(29,923)
14,534
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 24 June 2025
Mr D Haythornthwaite
Director
Company registration number 06377561 (England and Wales)
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
The International Centre for Nutritional Excellence Limited is a private company limited by shares incorporated in England and Wales. The registered office is Animal House, Boundary Road, Lytham, Lancashire, FY8 5LT.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Tangerine Group Holdings Limited. These consolidated financial statements are available from Companies House, Cardiff.
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 3 -
2.2
Going concern
The financial statements have been prepared on a going concern basis. The Company has net truecurrent liabilities of £29,923 at 30 June 2024 (2023: net current assets of £14,011). The company has the ongoing financial support of Tangerine Group Holdings Limited and the directors confirm that no intercompany loans will be called for repayment in the 12 months from approval of the accounts. The directors are of the opinion that the company can continue as a going concern for the foreseeable future.
2.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product have been transferred to the customer.
2.4
Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licences
20 years
2.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
2.6
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
2.7
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.
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 4 -
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.
2.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.9
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
4
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
6,772
Deferred tax
Origination and reversal of timing differences
1,562
Total tax charge
8,334
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2023
118,025
1,334
119,359
Additions
1,285
878
2,163
At 30 June 2024
119,310
2,212
121,522
Depreciation and impairment
At 1 July 2023
117,796
1,334
119,130
Depreciation charged in the year
1,514
878
2,392
At 30 June 2024
119,310
2,212
121,522
Carrying amount
At 30 June 2024
At 30 June 2023
229
229
6
Intangible fixed assets
Patents and licences
£
Cost
At 1 July 2023 and 30 June 2024
1,010
Amortisation and impairment
At 1 July 2023
716
Amortisation charged for the year
294
At 30 June 2024
1,010
Carrying amount
At 30 June 2024
At 30 June 2023
294
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,869
10,838
Amounts owed to group undertakings
504,759
543,872
Taxation and social security
15,944
23,864
Other creditors
14,119
14,931
Accruals and deferred income
35,969
47,054
587,660
640,559
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,457
8,938
Amounts owed by group undertakings
512,321
604,971
Other debtors
26,301
29,384
Prepayments and accrued income
7,922
178
556,001
643,471
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Balances:
There were no deferred tax movements in the year.
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
David Evans BA FCA
Statutory Auditor:
Bishops Audit Limited
Date of audit report:
26 June 2025
12
Related Party Disclosures
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
During the year the Company had transactions with companies under the control of D A Haythornthwaite.
2024
2023
£
£
Goods provided
(16,370)
(36,997)
Good purchased
-
-
At the year end the Company had net balances outstanding with companies under the control of D A Haythornthwaite.
2024
2023
£
£
Include in Other debtors/(creditors)
12,900
(11,036)
13
Parent company
THE INTERNATIONAL CENTRE FOR NUTRITIONAL EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
13
Parent company
(Continued)
- 8 -
The company is a subsidiary of Tangerine Holdings Limited which in turn is a 100% owned subsidiary of Tangerine Group Holdings Limited.
Tangerine Group Holdings Limited heads the only group the accounts are consolidated in. The consolidated financial statements of this Group are available to the public and may be obtained from Companies House, Cardiff.
The registered office for Tangerine Group Holdings Limited is Animal House, Boundary Road, Lytham, Lancashire, FY8 5LT.
Tangerine Group Holdings Limited is owned by Rendell Limited, a company incorporated in the Isle of Man. The Company is under the ultimate control of D A Haythornthwaite, the controlling shareholder of Rendell Limited.
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