Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 03032336 Ms Sarah Hopcroft Mr Tim Hopcroft Mrs Gemma Williams true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03032336 2023-12-31 03032336 2024-12-31 03032336 2024-01-01 2024-12-31 03032336 frs-core:CurrentFinancialInstruments 2024-12-31 03032336 frs-core:Non-currentFinancialInstruments 2024-12-31 03032336 frs-core:BetweenOneFiveYears 2024-12-31 03032336 frs-core:ComputerEquipment 2024-12-31 03032336 frs-core:ComputerEquipment 2024-01-01 2024-12-31 03032336 frs-core:ComputerEquipment 2023-12-31 03032336 frs-core:FurnitureFittings 2024-12-31 03032336 frs-core:FurnitureFittings 2024-01-01 2024-12-31 03032336 frs-core:FurnitureFittings 2023-12-31 03032336 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 03032336 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 03032336 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 03032336 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 03032336 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03032336 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 03032336 frs-core:MotorVehicles 2024-12-31 03032336 frs-core:MotorVehicles 2024-01-01 2024-12-31 03032336 frs-core:MotorVehicles 2023-12-31 03032336 frs-core:PlantMachinery 2024-12-31 03032336 frs-core:PlantMachinery 2024-01-01 2024-12-31 03032336 frs-core:PlantMachinery 2023-12-31 03032336 frs-core:WithinOneYear 2024-12-31 03032336 frs-core:ShareCapital 2024-12-31 03032336 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03032336 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03032336 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03032336 frs-bus:SmallEntities 2024-01-01 2024-12-31 03032336 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03032336 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03032336 1 2024-01-01 2024-12-31 03032336 frs-bus:Director1 2024-01-01 2024-12-31 03032336 frs-bus:Director2 2024-01-01 2024-12-31 03032336 frs-bus:Director3 2024-01-01 2024-12-31 03032336 frs-countries:EnglandWales 2024-01-01 2024-12-31 03032336 2022-12-31 03032336 2023-12-31 03032336 2023-01-01 2023-12-31 03032336 frs-core:CurrentFinancialInstruments 2023-12-31 03032336 frs-core:Non-currentFinancialInstruments 2023-12-31 03032336 frs-core:BetweenOneFiveYears 2023-12-31 03032336 frs-core:WithinOneYear 2023-12-31 03032336 frs-core:ShareCapital 2023-12-31 03032336 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03032336
Image on Food Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03032336
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 751,680 686,816
751,680 686,816
CURRENT ASSETS
Stocks 5 191,349 280,179
Debtors 6 459,474 370,888
Investments 7 5 5
Cash at bank and in hand 993,374 904,529
1,644,202 1,555,601
Creditors: Amounts Falling Due Within One Year 8 (692,687 ) (778,770 )
NET CURRENT ASSETS (LIABILITIES) 951,515 776,831
TOTAL ASSETS LESS CURRENT LIABILITIES 1,703,195 1,463,647
Creditors: Amounts Falling Due After More Than One Year 9 - (45,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (158,678 ) (138,146 )
NET ASSETS 1,544,517 1,279,668
CAPITAL AND RESERVES
Called up share capital 11 80 80
Profit and Loss Account 1,544,437 1,279,588
SHAREHOLDERS' FUNDS 1,544,517 1,279,668
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For the year ending 31 December 2024 the company was entitled to exemption from audit 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 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 Tim Hopcroft
Director
19 June 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
Image on Food Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03032336 . The registered office is 7 Burnside Business Park, Burnside Road, Market Drayton, Shropshire, TF9 3UX.
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. 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.
2.3. 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:
Freehold 5% straight line
Leasehold 20% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.8. Investments
Unlisted investments are included at cost less impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 66 (2023: 62)
66 62
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2024 398,688 1,933 966,817 5,485
Additions - - 132,393 -
Disposals (820 ) - - (5,485 )
As at 31 December 2024 397,868 1,933 1,099,210 -
Depreciation
As at 1 January 2024 187,285 1,933 506,393 5,443
Provided during the period 19,893 - 90,516 -
Disposals (205 ) - - (5,443 )
As at 31 December 2024 206,973 1,933 596,909 -
Net Book Value
As at 31 December 2024 190,895 - 502,301 -
As at 1 January 2024 211,403 - 460,424 42
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 55,285 33,645 1,461,853
Additions 51,896 12,090 196,379
Disposals - - (6,305 )
As at 31 December 2024 107,181 45,735 1,651,927
Depreciation
As at 1 January 2024 44,901 29,082 775,037
...CONTINUED
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Page 5
Provided during the period 14,953 5,496 130,858
Disposals - - (5,648 )
As at 31 December 2024 59,854 34,578 900,247
Net Book Value
As at 31 December 2024 47,327 11,157 751,680
As at 1 January 2024 10,384 4,563 686,816
5. Stocks
2024 2023
£ £
Stock 191,349 280,179
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 395,021 308,268
Prepayments and accrued income 31,196 26,267
Other debtors - 288
VAT 33,257 36,065
459,474 370,888
7. Current Asset Investments
2024 2023
£ £
Unlisted investments 5 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 88,349 50,625
Bank loans and overdrafts 45,833 50,000
Corporation tax 50,290 223,312
Other taxes and social security 31,649 21,768
Net wages 129,091 88,496
Other creditors 14,440 9,838
Accruals and deferred income 31,675 59,166
Directors' loan accounts 1,360 1,365
Amounts owed to parent undertaking 300,000 274,200
692,687 778,770
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 45,833
HSBC UK Bank PLC holds a fixed and floating charge over all assets of Image on Food Limited.
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10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 45,833 95,833
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80 80
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 23,431 10,428
Later than one year and not later than five years 39,232 16,419
62,663 26,847
13. Related Party Transactions
Included in creditors due within one year is a balance of £300,000 due to the parent company, Image on Food (Holdings) Limited (2023: £274,200). 
Dividends paid to Image on Food (Holdings) Limited during the year were £411,800 (2023: £350,246). 
14. Ultimate Controlling Party
The company's ultimate parent undertaking is Image on Food (Holdings) Limited a company incorporated in England & Wales with a registered office of 7 Burnside Business Park, Burnside Road, Market Drayton, Shropshire, United Kingdom, TF9 3UX. The ultimate controlling parties are Mr and Mrs Hopcroft.
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