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Company registration number: 09155724
Allicio Nutrition Limited
Filleted financial statements
31 March 2025
Allicio Nutrition Limited
Contents
Director's responsibilities statement
Statement of financial position
Notes to the financial statements
Allicio Nutrition Limited
Director's responsibilities statement
Period ended 31 March 2025
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial period. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Allicio Nutrition Limited
Statement of financial position
31 March 2025
Unaudited
31/03/25 31/12/23
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 5,363,728 -
_______ _______
5,363,728 -
Current assets
Stocks 8 3,629,100 -
Debtors 9 3,063,976 -
Cash at bank and in hand 48,446 -
_______ _______
6,741,522 -
Creditors: amounts falling due
within one year 10 ( 5,717,474) ( 3,643)
_______ _______
Net current assets/(liabilities) 1,024,048 ( 3,643)
_______ _______
Total assets less current liabilities 6,387,776 ( 3,643)
Creditors: amounts falling due
after more than one year 11 ( 5,056,800) -
Provisions for liabilities ( 182,297) -
_______ _______
Net assets/(liabilities) 1,148,679 ( 3,643)
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,147,679 ( 4,643)
_______ _______
Shareholders funds/(deficit) 1,148,679 ( 3,643)
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 August 2025 , and are signed on behalf of the board by:
Mr R Wertheim-Aymes
Director
Company registration number: 09155724
Allicio Nutrition Limited
Notes to the financial statements
Period ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales under the number 09155724 . The address of the registered office is Unit B, Sunnyhills Road, Leek, Staffordshire, Staffordshire, England, ST13 5RJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Right of use of assets
The company has adopted early the updated FRS 102 effective 1 January 2026, in respect of the right of use of assets held under lease contacts. In this respect the company 's right to use a leased asset over the term of the lease, is recognised on the balance sheet together with a corresponding lease liability. The asset is initially measured at the net present value of the future lease payments and the asset is depreciated over the lease term. The lease liability is the financial obligation to make payments over the term of the lease.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
In respect of negative goodwill, this is released through the profit and loss account as the acquired assets are consumed.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Right of use of leased asset - 15 year straight line method
Plant and machinery - over the remaining useful lives of the assets
Fittings fixtures and equipment - 5 year straight line method
Computer equipment - over the remaining useful lives of the assets
Computer software - 7 year straight line method
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and net realisable value. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Net realisable value uses the estimated selling price less costs to complete and sell.
Regular reviews of all stock items are undertaken to to identify any slow moving stock lines that might need a provision included in the financial statements.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
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.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company, including directors, during the period amounted to 99 (2023: 1).
5. Exceptional items
The exceptional item relates to the negative goodwill arising from the business acquisition of Ornua Nutrition Ingredients Limited (see note 6).
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2024 - -
Additions (1,350,000) (1,350,000)
_______ _______
At 31 March 2025 ( 1,350,000) ( 1,350,000)
_______ _______
Amortisation
At 1 January 2024 - -
Charge for the period ( 1,350,000) ( 1,350,000)
_______ _______
At 31 March 2025 ( 1,350,000) ( 1,350,000)
_______ _______
Carrying amount
At 31 March 2025 - -
_______ _______
At 31 December 2023 - -
_______ _______
On 5 February 2024, the company acquired the UK powder blending and manufacturing business from Ornua Nutrition Ingredients Limited, an Irish diary cooperative.
The company acquired assets and liabilities as a going concern and all staff transferred to the company from Ornua employment.
The consideration paid for the asset purchase was £5,411,948 and the component parts of the transaction are as follows:-
Assets acquired £
Plant & equipment 1,350,000
Stock 3,437,368
Trade receivables 3,595,919
Other current assets 68,691
Liabilities acquired
Trade payables 1,556,636
Other current liabilities 133,394
The transaction gave rise to negative goodwill amounting to £1,350,000 which has been credited through the profit & loss account in the period ended 31 March 2025, on the basis that all the stock acquired at acquisition had been sold by the end of March 2025.
The results of the company for the period ended 31 March 2025 relate entirely to the activities undertaken by the company following the acquisition of the assets and liabilities as detailed above.
7. Tangible assets
Right of use of leased asset Plant and machinery Fixtures, fittings and equipment Computer software Total
£ £ £ £ £
Cost
At 1 January 2024 - - - - -
Additions 4,301,436 1,353,935 6,331 252,788 5,914,490
_______ _______ _______ _______ _______
At 31 March 2025 4,301,436 1,353,935 6,331 252,788 5,914,490
_______ _______ _______ _______ _______
Depreciation
At 1 January 2024 - - - - -
Charge for the year 334,556 206,225 1,654 8,327 550,762
_______ _______ _______ _______ _______
At 31 March 2025 334,556 206,225 1,654 8,327 550,762
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2025 3,966,880 1,147,710 4,677 244,461 5,363,728
_______ _______ _______ _______ _______
At 31 December 2023 - - - - -
_______ _______ _______ _______ _______
8. Stocks
unaudited
31/03/25 31/12/23
£ £
Raw materials and consumables 2,234,268 -
Work in progress 530,802 -
Finished goods and goods for resale 864,030 -
_______ _______
3,629,100 -
_______ _______
9. Debtors
unaudited
31/03/25 31/12/23
£ £
Trade debtors 2,816,022 -
Other debtors 247,954 -
_______ _______
3,063,976 -
_______ _______
10. Creditors: amounts falling due within one year
unaudited
31/03/25 31/12/23
£ £
Bank loans 1,582,254 -
Trade creditors 2,352,535 -
Social security and other taxes 88,683 -
Amounts owed to connected company 1,094,760 3,643
Obligations for right of use of asset 226,095 -
Other creditors 373,147
_______ _______
5,717,474 3,643
_______ _______
Included in bank loans above are amounts owed to Leumi UK Group Limited totalling £1,582,254 which are secured by a fixed and floating charge over the assets of the company. Further details on securities with associated companies are detailed in note 11 to the accounts.
11. Creditors: amounts falling due after more than one year
unaudited
31/03/25 31/12/23
£ £
Bank loans 277,798 -
Obligations for right of use of asset 4,217,505 -
Other loans 561,497 -
_______ _______
5,056,800 -
_______ _______
Included in bank loans above are amounts owed to Leumi UK Group Limited totalling £277,798 which are secured by a fixed and floating charge over the assets of the company. Further details on securities with associated companies are detailed in note 11 to the accounts.
12. Summary audit opinion
The auditor's report dated 12 August 2025 was unqualified.
However, it was noted that the comparatives results were unaudited.
The senior statutory auditor was Rajiv Thakerar FCA for and on behalf of Sumer Auditco Limited
13. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Period Period Period Period
ended ended ended ended
31/03/25 31/12/23 31/03/25 31/12/23
£ £ £ £
Aymes International Limited - sales and recharges to 6,319,812 - ( 256,062) -
Aymes International Limited - recharges from 919,365 - 39,585 -
Aymes International Limited - loan to - - ( 1,094,760) -
_______ _______ _______ _______
The company has entered in cross guarantees and a deed of subordination in respect of monies owed to Leumi UK Group Limited together with Aymes International Limited and Wertheim Holdings Limited. The total amount owed to Leumi UK Group Limited by all companies at 31 March 2025 totalled £2,171,307.
Leumi UK Group Limited have a charge over the shares owned by R Wertheim-Aymes in both Allicio Nutrition Limited and Aymes International Limited.
Aymes International Limited and Wertheim Holdings Limited are both companies registered in England & Wales and in which R Wertheim-Aymes is a director and controlling shareholder.
14. Controlling party
The company is under the control of Mr R Wertheim-Aymes .