Silverfin false false 31/12/2024 01/01/2024 31/12/2024 C Cairns 01/01/2025 J R Farrand 19/03/2010 V J Farrand 26/01/2015 R J Farrand 31/12/2003 23 June 2025 The principal activity of the Company during the financial year is that of publishing, events and awards. 02744552 2024-12-31 02744552 bus:Director1 2024-12-31 02744552 bus:Director2 2024-12-31 02744552 bus:Director3 2024-12-31 02744552 bus:Director4 2024-12-31 02744552 2023-12-31 02744552 core:CurrentFinancialInstruments 2024-12-31 02744552 core:CurrentFinancialInstruments 2023-12-31 02744552 core:Non-currentFinancialInstruments 2024-12-31 02744552 core:Non-currentFinancialInstruments 2023-12-31 02744552 core:ShareCapital 2024-12-31 02744552 core:ShareCapital 2023-12-31 02744552 core:SharePremium 2024-12-31 02744552 core:SharePremium 2023-12-31 02744552 core:CapitalRedemptionReserve 2024-12-31 02744552 core:CapitalRedemptionReserve 2023-12-31 02744552 core:RetainedEarningsAccumulatedLosses 2024-12-31 02744552 core:RetainedEarningsAccumulatedLosses 2023-12-31 02744552 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 02744552 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 02744552 core:LeaseholdImprovements 2023-12-31 02744552 core:PlantMachinery 2023-12-31 02744552 core:Vehicles 2023-12-31 02744552 core:ComputerEquipment 2023-12-31 02744552 core:LeaseholdImprovements 2024-12-31 02744552 core:PlantMachinery 2024-12-31 02744552 core:Vehicles 2024-12-31 02744552 core:ComputerEquipment 2024-12-31 02744552 bus:OrdinaryShareClass1 2024-12-31 02744552 2024-01-01 2024-12-31 02744552 bus:FilletedAccounts 2024-01-01 2024-12-31 02744552 bus:SmallEntities 2024-01-01 2024-12-31 02744552 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02744552 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02744552 bus:Director1 2024-01-01 2024-12-31 02744552 bus:Director2 2024-01-01 2024-12-31 02744552 bus:Director3 2024-01-01 2024-12-31 02744552 bus:Director4 2024-01-01 2024-12-31 02744552 core:PatentsTrademarksLicencesConcessionsSimilar core:BottomRangeValue 2024-01-01 2024-12-31 02744552 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2024-01-01 2024-12-31 02744552 core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 02744552 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 02744552 core:PlantMachinery core:BottomRangeValue 2024-01-01 2024-12-31 02744552 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 02744552 core:Vehicles core:BottomRangeValue 2024-01-01 2024-12-31 02744552 core:Vehicles core:TopRangeValue 2024-01-01 2024-12-31 02744552 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 02744552 2023-01-01 2023-12-31 02744552 core:LeaseholdImprovements 2024-01-01 2024-12-31 02744552 core:PlantMachinery 2024-01-01 2024-12-31 02744552 core:Vehicles 2024-01-01 2024-12-31 02744552 core:ComputerEquipment 2024-01-01 2024-12-31 02744552 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 02744552 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 02744552 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02744552 (England and Wales)

THE GUILD OF FINE FOOD LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

THE GUILD OF FINE FOOD LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

THE GUILD OF FINE FOOD LIMITED

BALANCE SHEET

As at 31 December 2024
THE GUILD OF FINE FOOD LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 47,873 62,551
47,873 62,551
Current assets
Stocks 30,317 49,590
Debtors 5 253,768 315,351
Cash at bank and in hand 561,672 562,972
845,757 927,913
Creditors: amounts falling due within one year 6 ( 503,551) ( 544,254)
Net current assets 342,206 383,659
Total assets less current liabilities 390,079 446,210
Creditors: amounts falling due after more than one year 7 0 ( 61,818)
Provision for liabilities ( 10,353) ( 13,100)
Net assets 379,726 371,292
Capital and reserves
Called-up share capital 8 80 78
Share premium account 12,226 0
Capital redemption reserve 122 122
Profit and loss account 367,298 371,092
Total shareholders' funds 379,726 371,292

For the financial 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.

Directors' responsibilities:

The financial statements of The Guild of Fine Food Limited (registered number: 02744552) were approved and authorised for issue by the Board of Directors on 23 June 2025. They were signed on its behalf by:

J R Farrand
Director
THE GUILD OF FINE FOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE GUILD OF FINE FOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Guild of Fine Food Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 23b Kingsmead Business Park, Shaftesbury Road, Gillingham, SP8 5FB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Deferred income represents the fair value of services provided under contracts invoiced in the year that relate to future periods.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 5 - 10 years straight line
Other intangible assets

The directors consider the value of publication rights to be £nil. Therefore an impairment provision was included in the prior year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 5 - 6.7 years straight line
Vehicles 5 - 6.7 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 46 37

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 January 2024 209,081 209,081
At 31 December 2024 209,081 209,081
Accumulated amortisation
At 01 January 2024 209,081 209,081
At 31 December 2024 209,081 209,081
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2024 8,621 195,463 68,297 28,753 301,134
Additions 0 3,789 0 6,239 10,028
Disposals 0 ( 2,970) 0 0 ( 2,970)
At 31 December 2024 8,621 196,282 68,297 34,992 308,192
Accumulated depreciation
At 01 January 2024 1,724 185,070 32,787 19,002 238,583
Charge for the financial year 862 3,342 11,837 7,476 23,517
Disposals 0 ( 1,781) 0 0 ( 1,781)
At 31 December 2024 2,586 186,631 44,624 26,478 260,319
Net book value
At 31 December 2024 6,035 9,651 23,673 8,514 47,873
At 31 December 2023 6,897 10,393 35,510 9,751 62,551

5. Debtors

2024 2023
£ £
Trade debtors 199,908 218,536
Other debtors 53,860 96,815
253,768 315,351

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 43,637
Trade creditors 98,007 137,743
Taxation and social security 89,467 104,053
Other creditors 316,077 258,821
503,551 544,254

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 61,818

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
80 Ordinary shares of £ 1.00 each (2023: 78 shares of £ 1.00 each) 80 78

On 25 March 2024 two Ordinary shares of £1 each were issued at par.

9. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £132,000 (2023 - £177,500). The financial commitments are in the form of non-cancellable operating leases of which £56,000 (2023 - £41,500) is due within one year.

10. Off Balance Sheet arrangements

EMI Scheme

As at 31 December 2024 options existed for 10 shares.