Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 27 June 2025 1 January 2024 31 December 2024 31 December 2024 02979293 Mr Benny Dalgaard Loft Mr Thomas Marstrand Mrs Jette Ramgaard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02979293 2023-12-31 02979293 2024-12-31 02979293 2024-01-01 2024-12-31 02979293 frs-core:CurrentFinancialInstruments 2024-12-31 02979293 frs-core:BetweenOneFiveYears 2024-12-31 02979293 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 02979293 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 02979293 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02979293 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 02979293 frs-core:MotorVehicles 2024-12-31 02979293 frs-core:MotorVehicles 2024-01-01 2024-12-31 02979293 frs-core:MotorVehicles 2023-12-31 02979293 frs-core:OtherResidualIntangibleAssets 2024-12-31 02979293 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 02979293 frs-core:OtherResidualIntangibleAssets 2023-12-31 02979293 frs-core:PlantMachinery 2024-12-31 02979293 frs-core:PlantMachinery 2024-01-01 2024-12-31 02979293 frs-core:PlantMachinery 2023-12-31 02979293 frs-core:WithinOneYear 2024-12-31 02979293 frs-core:ShareCapital 2024-12-31 02979293 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02979293 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02979293 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02979293 frs-bus:SmallEntities 2024-01-01 2024-12-31 02979293 frs-bus:Audited 2024-01-01 2024-12-31 02979293 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02979293 frs-bus:Director1 2024-01-01 2024-12-31 02979293 frs-bus:Director2 2024-01-01 2024-12-31 02979293 frs-bus:Director3 2024-01-01 2024-12-31 02979293 frs-countries:EnglandWales 2024-01-01 2024-12-31 02979293 2022-12-31 02979293 2023-12-31 02979293 2023-01-01 2023-12-31 02979293 frs-core:CurrentFinancialInstruments 2023-12-31 02979293 frs-core:BetweenOneFiveYears 2023-12-31 02979293 frs-core:WithinOneYear 2023-12-31 02979293 frs-core:ShareCapital 2023-12-31 02979293 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02979293
European Freeze Dry Limited
Financial Statements
For The Year Ended 31 December 2024
MJH Accountants Limited
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—6
Page 1
Balance Sheet
Registered number: 02979293
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 180
Tangible Assets 5 576,271 642,071
576,271 642,251
CURRENT ASSETS
Stocks 6 1,234,154 1,284,824
Debtors 7 1,658,729 1,094,042
Cash at bank and in hand 16,570 64,612
2,909,453 2,443,478
Creditors: Amounts Falling Due Within One Year 8 (608,365 ) (372,398 )
NET CURRENT ASSETS (LIABILITIES) 2,301,088 2,071,080
TOTAL ASSETS LESS CURRENT LIABILITIES 2,877,359 2,713,331
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (98,608 ) (104,000 )
NET ASSETS 2,778,751 2,609,331
CAPITAL AND RESERVES
Called up share capital 10 1,600,000 1,600,000
Profit and Loss Account 1,178,751 1,009,331
SHAREHOLDERS' FUNDS 2,778,751 2,609,331
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
Mrs Jette Ramgaard
Director
27 June 2025
The notes on pages 2 to 6 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
European Freeze Dry Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02979293 . The registered office is 45 Roman Way, Longridge Road, Ribbleton, Preston, PR2 5BD.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
The company made a profit before tax of £340,000 for the four months to 30th April 2025 and continues to operate profitably. However, the company remains reliant on its Danish parent undertaking for financial and operational support, in line with the Group’s centralised financing and management structure.
The parent company is currently operating under challenging trading conditions. Nevertheless, the Directors have received confirmation from the parent that support will continue to be made available for a period of at least 12 months from the date of approval of the financial statements.
The Directors have prepared detailed cash flow forecasts for the period to April 2026, which demonstrate that the company is expected to maintain adequate liquidity and meet its obligations as they fall due, based on its own trading performance and the ongoing support from the wider Group.
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.
Turnover in respect of goods supplied is recognised on the despatch of goods to customers.
Turnover in respect of contract drying services is recognised when the service has been performed.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
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 33% in order to write off each asset over its estimated useful life. 
2.5. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold - between 6% and 10% on cost
Plant & Machinery - between 5% and 50% on cost
Motor Vehicles - 20% straight line
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and applicable variable selling expenses.
2.6. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.
2.7. Stocks and Work in Progress
Inventories are measured at the lower of cost and net realisable value. The cost of inventories is based on the
first-in, first-out principle (FIFO method). Cost of raw material and consumables consists of purchase price plus direct costs. Cost of manufactured goods and work in progress consists of raw materials, consumables, direct labour and other direct costs. Net realisable value is the estimated selling price in the ordinary course of
business, less completion costs and applicable variable selling expenses.
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2.8. Financial Instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets
Basic financial assets, including trade, intercompany debtors, other debtors and cash and bank balances, are
initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying
amount and the present value of the estimated cash flows discounted at the asset's original effective interest
rate. The impairment loss is recognised in the profit or loss.
There are no assets which are initially measured at fair value.
Financial liabilities
Basic financial liabilities, including trade and other creditors and intercompany creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. 
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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.
2.10. 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.
2.11. Pensions
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.
2.12. Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.13. Share capital and dividends
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Dividends and other distributions to the company's shareholder are recognised as a liability in the financial statements in the period in which the dividends and the other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2023: 30)
27 30
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 47,238
As at 31 December 2024 47,238
Amortisation
As at 1 January 2024 47,058
Provided during the period 180
As at 31 December 2024 47,238
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 180
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 January 2024 180,402 3,851,509 13,500 4,045,411
Additions - 110,134 - 110,134
Disposals - (40,309 ) - (40,309 )
Transfers 4,650 (4,650 ) - -
As at 31 December 2024 185,052 3,916,684 13,500 4,115,236
Depreciation
As at 1 January 2024 143,720 3,246,120 13,500 3,403,340
Provided during the period 12,245 163,689 - 175,934
Disposals - (40,309 ) - (40,309 )
Transfers (4,650 ) 4,650 - -
As at 31 December 2024 151,315 3,374,150 13,500 3,538,965
Net Book Value
As at 31 December 2024 33,737 542,534 - 576,271
As at 1 January 2024 36,682 605,389 - 642,071
Page 4
Page 5
6. Stocks
2024 2023
£ £
Materials 533,600 675,524
Finished goods 700,554 609,300
1,234,154 1,284,824
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,052,294 902,987
Amounts owed by group undertakings 496,665 81,380
Other debtors 109,770 109,675
1,658,729 1,094,042
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 432,597 250,321
Other creditors 148,502 136,501
Taxation and social security 27,266 (14,424 )
608,365 372,398
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 98,608 104,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,600,000 1,600,000
11. Other Commitments
Minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 133,732 133,732
Later than one year and not later than five years 150,408 284,140
284,140 417,872
Page 5
Page 6
12. Pension Commitments
The company operates a defined contribution pension scheme for the employees of the company.
The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £5,602 (2023 - £4,829) were due to the fund which are included in Other Creditors.
13. Related Party Transactions
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.
14. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
15. Audit Information
The auditor's report on the accounts of European Freeze Dry Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Mark James Hall (Senior Statutory Auditor) for and on behalf of MJH Accountants Limited , Statutory Auditor.
MJH Accountants Limited
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Page 6