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REGISTERED NUMBER: 07804284 (England and Wales)













Financial Statements

for the Year Ended 31 December 2024

for

Beanies The Flavour Co. Ltd.

Beanies The Flavour Co. Ltd. (Registered number: 07804284)






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


Beanies The Flavour Co. Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M P Porteous
I Benopoulos
V Katsos
T Matsantonis



SECRETARY: M P Porteous



REGISTERED OFFICE: Faverdale North
DARLINGTON
Co Durham
DL3 0PH



REGISTERED NUMBER: 07804284 (England and Wales)



SENIOR STATUTORY AUDITOR: Kevin Shotton BA BFP FCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 240,576 205,001
Tangible assets 5 380,981 510,333
621,557 715,334

CURRENT ASSETS
Stocks 6 748,412 1,033,175
Debtors 7 404,374 600,205
Cash at bank and in hand - 187,775
1,152,786 1,821,155
CREDITORS
Amounts falling due within one year 8 (1,437,205 ) (1,439,658 )
NET CURRENT (LIABILITIES)/ASSETS (284,419 ) 381,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,138

1,096,831

CREDITORS
Amounts falling due after more than one
year

9

(125,720

)

(266,854

)

PROVISIONS FOR LIABILITIES 12 - (95,898 )
NET ASSETS 211,418 734,079

CAPITAL AND RESERVES
Called up share capital 13 116,547 116,547
Revaluation reserve 183,912 243,111
Retained earnings (89,041 ) 374,421
SHAREHOLDERS' FUNDS 211,418 734,079

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:





M P Porteous - Director


Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Beanies The Flavour Co. Ltd. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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. The Plant and machinery was revalued at the date Cafetex SA took control of the company.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

The prior period figures are drawn up for 9 months, for this reason the comparative figures presented are not directly comparable.

Going concern

The company is reliant on support from its ultimate parent company, Cafetex SA, to meet liabilities as they fall due.

The company remains dependent on ongoing financial support from its shareholders in order to meet its obligations as they fall due. On 11 June 2025, the shareholders approved a Share Capital Increase amounting to £488,522.

The directors have prepared detailed profit and loss and cashflow forecasts for the period to 31 December 2025. these forecasts show the company trading profitably and being able to operate within its existing bank facilities. Further high level forecasts to December 2027 have been prepared which show the company continuing to trade profitably.
Directors have assessed the company's position 12 months from approval of the financial statements and deem the company to remain profitable.

Related party exemption
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 subsidiaries within the group or those concluded under normal market conditions.

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

Income recognition
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its useful life.

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Trademark- 20 - 33.33% on cost
Development costs- 20% on cost
Website- 33.33% on cost

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses, with the exception of plant and machinery which is periodically revalued and accounted for using the revaluation model.

Plant and machinery was last valued on an open market basis by James Mae Projects Ltd at 21 September 2023 and the directors are of the opinion that the value has not changed since, except for subsequent depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - over period of the lease
Plant and machinery - 20% on cost and 20% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 33% on cost

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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.

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Invoice financing
The invoice financing represents amounts received in respect of financed debts. The invoice financing is without recourse therefore the balance has been set off against the financed debts, further details in note 8. Interest and other charges relating to invoice financing are recognised in the profit and loss account over the relevant period.

Grants receivable
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Development
Goodwill Trademark costs Website Totals
£    £    £    £    £   
COST
At 1 January 2024 1 17,376 333,303 111,424 462,104
Additions - 900 102,951 19,439 123,290
At 31 December 2024 1 18,276 436,254 130,863 585,394
AMORTISATION
At 1 January 2024 - 11,693 152,798 92,612 257,103
Amortisation for year - 2,986 70,164 14,565 87,715
At 31 December 2024 - 14,679 222,962 107,177 344,818
NET BOOK VALUE
At 31 December 2024 1 3,597 213,292 23,686 240,576
At 31 December 2023 1 5,683 180,505 18,812 205,001

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 225,901 753,130 34,649 70,333 1,084,013
Additions 1,650 - 8,515 - 10,165
At 31 December 2024 227,551 753,130 43,164 70,333 1,094,178
DEPRECIATION
At 1 January 2024 193,138 292,614 28,942 58,986 573,680
Charge for year 27,909 100,659 3,238 7,711 139,517
At 31 December 2024 221,047 393,273 32,180 66,697 713,197
NET BOOK VALUE
At 31 December 2024 6,504 359,857 10,984 3,636 380,981
At 31 December 2023 32,763 460,516 5,707 11,347 510,333

Cost or valuation at 31 December 2024 is represented by:

Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2017 - 168,916 - - 168,916
Valuation in 2023 - 155,232 - - 155,232
Cost 227,551 428,982 43,164 70,333 770,030
227,551 753,130 43,164 70,333 1,094,178

If Plant and Machinery had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 584,214 584,214
Aggregate depreciation 468,521 468,521

Plant and machinery were valued on a fair value basis on 21 September 2023 by James Mae Projects Ltd .

The directors do not believe that the value has changed since, except for the depreciation changes as per the accounting policy.

6. STOCKS
2024 2023
£    £   
Stocks 748,412 1,033,175

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 227,633 454,636
Amounts owed by group undertakings - 4,000
Other debtors 38,470 53,562
Deferred tax asset 57,136 -
Prepayments and accrued income 81,135 88,007
404,374 600,205

Trade debtors is made up of:
20242023
££
Trade debtors574,400454,636
Invoice financing(346,767)-
227,633454,636
The invoice financing facility is without recourse and therefore a netting off has been performed against trade debtors in the current year.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 322,573 181,933
Hire purchase contracts (see note 10) 20,520 34,547
Trade creditors 530,411 886,519
Invoice financing - 251,839
Amounts owed to group undertakings 160,653 -
Taxation and social security 43,371 27,512
Other creditors 154,520 4,271
Directors' current accounts 160,000 -
Accruals and deferred income 45,157 53,037
1,437,205 1,439,658

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 125,720 245,911
Hire purchase contracts (see note 10) - 20,943
125,720 266,854

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 20,520 34,547
Between one and five years - 20,943
20,520 55,490

Non-cancellable operating leases
2024 2023
£    £   
Within one year 52,315 53,577
Between one and five years - 52,315
52,315 105,892

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 187,707 -
Bank loans 260,586 427,844
Hire purchase contracts 20,520 55,490
Invoice financing - 251,839
468,813 735,173

Loans and bank overdrafts are secured by a general floating charge over the assets.

Hire purchase contracts and finance leases are secured by assets to which it relates.

In 2023, invoice financing was secured by a general floating charge over the assets of the company, however terms were updated to without recourse during 2024 and the balance has been offset against the debtors to which it relates. Please see note 8 for further details.

12. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 95,898

Beanies The Flavour Co. Ltd. (Registered number: 07804284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 95,898
Accelerated capital allowances 13,429
Unused tax losses (166,463 )
Balance at 31 December 2024 (57,136 )

The deferred tax asset reflects tax losses carried forward into future periods.
Management believe it is highly probable that losses will be utilised in future periods as a result of signed contracts increasing revenue as well as newly signed supplier agreements cutting production costs.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
116,537 Ordinary £1 £1 116,537 116,537
1,000 Ordinary 1p 10 10
116,547 116,547

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to note 12 of the financial statements, which describes the basis on which the deferred tax asset has been recognised. Our opinion is not modified in respect of this matter.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

15. RELATED PARTY DISCLOSURES

During the period, sales of £nil (31 December 2023: £nil) were made to a company under common control of one of the directors. The outstanding loan balance due from the company at the end of the year was £nil (31 December 2023: £4,251). This balance was repaid after the year end.

16. ULTIMATE CONTROLLING PARTY

Beanies The Flavour Co Limited is a wholly owned subsidiary of Progress 2019 Limited, registered office: Faverdale North, Darlington, Co Durham, DL3 0PH, United Kingdom.
The ultimate controlling party is Cafetex Societe Anonyme, a company registered in Greece whose registered office address is Agiou Louka Str.19002, Paiania, Greece.