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Registration number: 03827452

Kudos Blends Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Kudos Blends Limited

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Statement of Director's Responsibilities

4

Independent Auditor's Report

5 to 8

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Financial Statements

13 to 24

 

Kudos Blends Limited

Company Information

Director

D E Thompson

Company secretary

I M Thompson

Registered office

Unit 5
Old Town Station Business Park
Bridgnorth Road
Cleobury Mortimer
DY14 8SY

Auditors

Mortimer Childe Services Limited 53 High Street
Cleobury Mortimer
Worcestershire
DY14 8DQ

 

Kudos Blends Limited

Strategic Report for the Year Ended 31 December 2024

The director presents the strategic report for the year ended 31 December 2024.

Principal activity

The principal activity of the company is Manufacture and supply of technically driven leavening agents.

Fair review of the business

The Director is pleased with the performance and strong set of financial results for the business during the year. This continues the ongoing trend of growth and is a result of the time and resources spent in development of the products and processes, investment in facilities, staff and infrastructure and the general direction of the business in the past few years.

The business is financially stable and looking ahead to further growth in 2026, driven by ongoing research & development activities and exciting prospects for the business’ existing products. The Company continues to maintain a strong position in the UK market with steady continuous growth expected through product innovation and ongoing strength in the end-user marketplace. Meanwhile, expansion into international markets is developing well with material distributors particularly active in North America and Asia Pacific. Strategic expectations are that high UK market-share will continue with a focus on accelerated international growth through the supply of products supporting industry trends such as sodium reduction and aluminium removal.

The Company monitors its financial performance through a number of financial key performance indicators – these being turnover, gross margin, costs period on period and the level of net current assets. On all of these indicators the director and senior management team are pleased with the results and are predicting a further improvement in the next financial year.

The Company utilises a suite of targeted non-financial key performance indicators, predominantly related to quality and health and safety, to monitor and measure performance in those areas on a weekly and monthly basis.

Principal risks and uncertainties

The Company is in a strong financial position, with continued investment in its operations and growth being funded out of the retained cash reserves, earnings and ongoing profits generated. The principal risks and uncertainties which the business is subject to are considered to be external, these being changes in economic, political and regulatory environments. The director and senior management team regularly review and agree processes for managing such risks, since the control of these risks and ability to adapt to any changes is integral to the Company's business.

Approved and authorised by the director on 31 July 2025
 

.........................................
D E Thompson
Director

 

Kudos Blends Limited

Director's Report for the Year Ended 31 December 2024

The report and the financial statements for the year ended 31 December 2024.

Director of the company

The director who held office during the year was as follows:

D E Thompson

Financial instruments

Objectives and policies

The company does not utilise any external financial instruments such a loans, finance leases or hire purchase contracts to fund its business operations.

The company has various financial instruments such as trade debtors and trade creditors which arise directly from its trading operations.

The company does not enter into derivative transactions.

The main policy of the financial management is to maximise returns on the funds held, together with providing investment in the growth and development of the business.

Price risk, credit risk, liquidity risk and cash flow risk

The company seeks to manage credit risk by only selling to reputable and credit worth customers.

The company aims to maintain relationships with its suppliers by paying in accordance with credit terms.

Price risk is managed through careful review of pricing trends and ability to manage levels of stocks held.

Liquidity risk is not considered significant due to the cash reserves held and maintained by the business.

Disclosure of information to the auditors

The director has taken steps that ought to have taken as a director in order to make aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that of and of which the auditors are unaware.

Approved and authorised by the director on 31 July 2025
 

.........................................
D E Thompson
Director

 

Kudos Blends Limited

Statement of Director's Responsibilities

The responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. 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 satisfied that they give a true and fair view of the state of affairs of the company and of 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 apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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 to ensure that the financial statements comply with the Companies Act 2006. 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.

 

Kudos Blends Limited

Independent Auditor's Report to the Members of Kudos Blends Limited

Opinion

We have audited the financial statements of Kudos Blends Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Kudos Blends Limited

Independent Auditor's Report to the Members of Kudos Blends Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

 

Kudos Blends Limited

Independent Auditor's Report to the Members of Kudos Blends Limited

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We identified the laws and regulations applicable to the Company through discussions with Directors and other management and from our commercial knowledge and experience of this business sector.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls we:

Performed analytical procedures to identify any unusual or unexpected relationships.

Assessed whether judgments and assumptions made in determining accounting estimates included in the Accounts were indicative of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiring of the Directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error, as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

 

Kudos Blends Limited

Independent Auditor's Report to the Members of Kudos Blends Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Dean Jarman FCCA (Senior Statutory Auditor)
For and on behalf of Mortimer Childe Services Limited, Statutory Auditor
 53 High Street
Cleobury Mortimer
Worcestershire
DY14 8DQ

31 July 2025

 

Kudos Blends Limited

Profit and Loss Account for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

3

16,142,982

16,862,286

Cost of sales

 

(9,813,790)

(10,647,769)

Gross profit

 

6,329,192

6,214,517

Administrative expenses

 

(4,057,048)

(3,341,106)

Other operating income

4

6,264

6,264

Operating profit

6

2,278,408

2,879,675

Other interest receivable and similar income

7

152,507

63,815

Profit before tax

 

2,430,915

2,943,490

Tax on profit

11

(442,704)

(546,613)

Profit for the financial year

 

1,988,211

2,396,877

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Kudos Blends Limited

(Registration number: 03827452)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

12

2,204,339

2,002,734

Current assets

 

Stocks

13

1,966,168

1,821,158

Debtors

14

3,259,342

3,334,662

Cash at bank and in hand

 

5,743,408

5,472,906

 

10,968,918

10,628,726

Creditors: Amounts falling due within one year

16

(1,126,537)

(2,269,102)

Net current assets

 

9,842,381

8,359,624

Total assets less current liabilities

 

12,046,720

10,362,358

Creditors: Amounts falling due after more than one year

16

(121,075)

(127,339)

Provisions for liabilities

17

(335,954)

(346,043)

Net assets

 

11,589,691

9,888,976

Capital and reserves

 

Called up share capital

22,727

22,727

Capital redemption reserve

27,273

27,273

Retained earnings

11,539,691

9,838,976

Shareholders' funds

 

11,589,691

9,888,976

Approved and authorised by the director on 31 July 2025
 

.........................................
D E Thompson
Director

 

Kudos Blends Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2024

22,727

27,273

9,838,976

9,888,976

Profit for the year

-

-

1,988,211

1,988,211

Dividends

-

-

(287,496)

(287,496)

At 31 December 2024

22,727

27,273

11,539,691

11,589,691

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2023

22,727

27,273

7,494,826

7,544,826

Profit for the year

-

-

2,396,877

2,396,877

Dividends

-

-

(52,727)

(52,727)

At 31 December 2023

22,727

27,273

9,838,976

9,888,976

 

Kudos Blends Limited

Statement of Cash Flows for the Year Ended 31 December 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

1,988,211

2,396,877

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

6

385,638

393,263

(Profit)/loss on disposal of tangible assets

5

(18,241)

2,298

Finance income

7

(152,507)

(63,815)

Income tax expense

11

442,704

546,613

 

2,645,805

3,275,236

Working capital adjustments

 

(Increase)/decrease in stocks

13

(145,010)

925,574

Decrease/(increase) in debtors

14

75,320

(555,310)

(Decrease)/increase in creditors

16

(710,138)

184,596

Decrease in deferred income, including government grants

 

(6,264)

(6,265)

Cash generated from operations

 

1,859,713

3,823,831

Income taxes paid

11

(885,220)

(205,408)

Net cash flow from operating activities

 

974,493

3,618,423

Cash flows from investing activities

 

Interest received

7

152,507

63,815

Acquisitions of tangible assets

(590,217)

(427,244)

Proceeds from sale of tangible assets

 

21,215

20,231

Net cash flows from investing activities

 

(416,495)

(343,198)

Cash flows from financing activities

 

Dividends paid

(287,496)

(52,727)

Net increase in cash and cash equivalents

 

270,502

3,222,498

Cash and cash equivalents at 1 January

 

5,472,906

2,250,408

Cash and cash equivalents at 31 December

 

5,743,408

5,472,906

 

Kudos Blends Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 5
Old Town Station Business Park
Bridgnorth Road
Cleobury Mortimer
DY14 8SY

These financial statements were authorised for issue by the director on 31 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are belived to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year..

Tangible fixed assets are depreciated over their useful lives, taking into account residual values, where appropriate. In the opinion of the directors the depreciation rates used are appropriate as significant profits/losses do not occur on any disposals made..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Kudos Blends Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to Property

15-25 years straight line

Plant and Machinery, Fixtures and Fittings

20% Reducing Balance

Office Equipment

33% Straight Line

Motor Vehicles

20% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Kudos Blends Limited

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average cost method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Kudos Blends Limited

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

3

Turnover

The analysis of the company's revenue for the year from continuing operations is as follows:

2024
 £

2023
 £

Sale of goods

16,142,982

16,862,286

The analysis of the company's turnover for the year by market is as follows:

2024
 £

2023
 £

UK

13,983,702

14,951,147

Europe

622,542

746,358

Rest of world

1,536,738

1,164,781

16,142,982

16,862,286

 

Kudos Blends Limited

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

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
 £

2023
 £

Release of capital grants

6,264

6,264

5

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

2024
 £

2023
 £

Gain/loss on disposal of property, plant and equipment

18,241

(2,298)

6

Operating profit

Arrived at after charging/(crediting)

2024
 £

2023
 £

Depreciation expense

385,638

393,263

Foreign exchange losses

21,811

7,124

(Profit)/loss on disposal of property, plant and equipment

(18,241)

2,298

7

Other interest receivable and similar income

2024
 £

2023
 £

Interest income on bank deposits

152,507

63,815

 

Kudos Blends Limited

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

8

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

2024
 £

2023
 £

Wages and salaries

2,024,735

1,782,889

Social security costs

203,211

166,886

Pension costs, defined contribution scheme

169,827

164,715

2,397,773

2,114,490

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
No.

2023
No.

Production - weekly

21

22

Management - monthly

34

29

55

51

9

Director's remuneration

The director's remuneration for the year was as follows:

2024
 £

2023
 £

Remuneration

8,784

8,784

Contributions paid to money purchase schemes

60,000

60,000

68,784

68,784

10

Auditors' remuneration

2024
 £

2023
 £

Audit of the financial statements

7,500

7,500


 

 

Kudos Blends Limited

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

11

Taxation

Tax charged/(credited) in the income statement

2024
 £

2023
 £

Current taxation

UK corporation tax

452,793

590,308

Deferred taxation

Arising from origination and reversal of timing differences

(10,089)

(43,695)

Tax expense in the income statement

442,704

546,613

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 23.5%).

The differences are reconciled below:

2024
 £

2023
 £

Profit before tax

2,430,915

2,943,490

Corporation tax at standard rate

607,729

691,720

Adjustments to tax charge relating to prior period

(17,870)

-

Tax increase (decrease) from effect of capital allowances and depreciation

18,785

40,047

Tax increase (decrease) from other short-term timing differences

(10,089)

(43,695)

Tax increase (decrease) from effect of adjustment in research and development tax credit and patent box deductions

(162,113)

(149,245)

Other tax effects for reconciliation between accounting profit and tax expense (income)

6,262

7,786

Total tax charge

442,704

546,613

 

Kudos Blends Limited

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

Deferred tax

Deferred tax assets and liabilities

2024

Asset
£

Liability
£

Accelerated capital allowances

-

335,954

-

335,954

2023

Asset
£

Liability
£

Accelerated capital allowances

-

346,043

-

346,043

 

Kudos Blends Limited

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

12

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

941,516

404,058

99,945

2,764,348

4,209,867

Additions

304,676

107,033

36,824

141,684

590,217

Disposals

-

-

(27,676)

-

(27,676)

At 31 December 2024

1,246,192

511,091

109,093

2,906,032

4,772,408

Depreciation

At 1 January 2024

342,293

321,932

43,473

1,499,435

2,207,133

Charge for the year

34,395

50,816

18,064

282,363

385,638

Eliminated on disposal

-

-

(24,702)

-

(24,702)

At 31 December 2024

376,688

372,748

36,835

1,781,798

2,568,069

Carrying amount

At 31 December 2024

869,504

138,343

72,258

1,124,234

2,204,339

At 31 December 2023

599,223

82,126

56,472

1,264,913

2,002,734

Included within the net book value of land and buildings above is £475,950 (2023 - £221,450) in respect of freehold land and buildings and £393,554 (2023 - £377,773) in respect of long leasehold land and buildings.
 

 

Kudos Blends Limited

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

13

Stocks

2024
 £

2023
 £

Raw materials and consumables

1,501,127

1,124,976

Finished goods

465,041

696,182

1,966,168

1,821,158

Impairment of stocks

The amount of impairment loss included in profit or loss is £Nil (2023 - £Nil).

There is no significant difference between the replacement cost of inventory and it's carrying amount.

14

Debtors

Current

2024
£

2023
£

Trade debtors

2,737,344

2,790,080

Other debtors

392,677

237,832

Prepayments

129,321

306,750

 

3,259,342

3,334,662

15

Cash and cash equivalents

2024
 £

2023
 £

Cash at bank

5,743,408

5,472,906

 

Kudos Blends Limited

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

16

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Trade creditors

 

869,817

1,579,557

Social security and other taxes

 

58,331

52,551

Outstanding defined contribution pension costs

 

10,525

9,160

Other payables

 

2,092

5,180

Accrued expenses

 

21,627

26,082

Income tax liability

11

157,881

590,308

Deferred income

 

6,264

6,264

 

1,126,537

2,269,102

Due after one year

 

Deferred income

 

121,075

127,339

17

Provisions for liabilities

Deferred tax
£

Total
£

At 1 January 2024

346,043

346,043

Provisions used

(10,089)

(10,089)

At 31 December 2024

335,954

335,954

18

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £169,827 (2023 - £164,715).

Contributions totalling £10,525 (2023 - £9,160) were payable to the scheme at the end of the year and are included in creditors.

 

Kudos Blends Limited

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

19

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

22,727

22,727

22,727

22,727

       

20

Commitments

Capital commitments

At 31 December 2024 the Company had capital commitments in connection with the purchase of various plant and machinery.

The total amount contracted for but not provided in the financial statements was £188,757 (2023 - £66,894).

Other financial commitments

Other financial commitments not provided in the financial statements relate to various operating leases for the rental of property.

The total amount of other financial commitments not provided in the financial statements was £539,775 (2023 - £653,353).

21

Related party transactions

Subsequent to the year end the directors loan disclosed below has been cleared.

Interest has been charged at the official rate by the Company on the loan to the directors in the tax year to which the loan related.

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

At 31 December 2024
£

D E Thompson

Advances and credits to director

(962)

139,742

138,780