P P Snack Foods Ltd Company accounts

COMPANY REGISTRATION NUMBER: 08614877

P P SNACK FOODS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 November 2024

P P SNACK FOODS LTD

FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2024

CONTENTS	PAGE

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

The following pages do not form part of the financial statements

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	10

P P SNACK FOODS LTD

DIRECTORS' REPORT

YEAR ENDED 30 NOVEMBER 2024

The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .

PRINCIPAL ACTIVITIES

The principal activity of the company during the year was the wholesale of confectionery, snacks and drinks.

DIRECTORS

The directors who served the company during the year were as follows:

Mr P Pendall
Mrs N Pendall

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 2 September 2025 and signed on behalf of the board by:

Mrs N Pendall

Director

Registered office:

Bowling House

Wheldrake Lane

Elvington

York

YO41 4AY

P P SNACK FOODS LTD

STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 30 NOVEMBER 2024

	2024	2023
Note	£	£
TURNOVER	1,326,128	1,696,010

Cost of sales	1,141,217	1,478,741
	-------------	-------------
GROSS PROFIT	184,911	217,269

Administrative expenses	70,792	101,166
	----------	----------
OPERATING PROFIT	114,119	116,103

		----------	----------
PROFIT BEFORE TAXATION	5	114,119	116,103

Tax on profit	26,514	29,941
	----------	----------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME	87,605	86,162
	----------	----------

Dividends paid and payable	( 72,000)	( 52,000)

RETAINED EARNINGS AT THE START OF THE YEAR	157,718	123,556
	----------	----------
RETAINED EARNINGS AT THE END OF THE YEAR	173,323	157,718
	----------	----------

All the activities of the company are from continuing operations.

P P SNACK FOODS LTD

STATEMENT OF FINANCIAL POSITION

30 November 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	7		21,398		23,134

CURRENT ASSETS

Stocks		28,754	57,958
Debtors	8	110,420	110,854
Cash at bank and in hand		97,031	171,585
		----------	----------
		236,205	340,397

CREDITORS: amounts falling due within one year	9	79,101		200,260
		----------		----------
NET CURRENT ASSETS			157,104		140,137
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			178,502		163,271

PROVISIONS

Taxation including deferred tax	5,079	5,453
	----------	----------
NET ASSETS	173,423	157,818
	----------	----------

P P SNACK FOODS LTD

STATEMENT OF FINANCIAL POSITION (continued)

30 November 2024

	2024		2023
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	173,323	157,718
	----------	----------
SHAREHOLDERS FUNDS	173,423	157,818
	----------	----------

These financial statements have been prepared 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'.

For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 2 September 2025 , and are signed on behalf of the board by:

Mr P Pendall

Director

Company registration number: 08614877

P P SNACK FOODS LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bowling House, Wheldrake Lane, Elvington, York, YO41 4AY.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition 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. (d) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. (f) 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:

Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

(g) Impairment of fixed assets 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.

(h) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(i) 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.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).

5. PROFIT BEFORE TAXATION

Profit before taxation is stated after charging:

	2024	2023
	£	£
Amortisation of intangible assets	–	15,000
Depreciation of tangible assets	6,236	7,362
	-------	--------

6. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 December 2023 and 30 November 2024	150,000
	----------
Amortisation
At 1 December 2023 and 30 November 2024	150,000
	----------
Carrying amount
At 30 November 2024	–
	----------
At 30 November 2023	–
	----------

7. TANGIBLE ASSETS

	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£
Cost
At 1 December 2023	4,945	37,562	8,008	50,515
Additions	4,500	–	–	4,500
	-------	--------	-------	--------
At 30 November 2024	9,445	37,562	8,008	55,015
	-------	--------	-------	--------
Depreciation
At 1 December 2023	2,695	19,317	5,369	27,381
Charge for the year	1,013	4,562	661	6,236
	-------	--------	-------	--------
At 30 November 2024	3,708	23,879	6,030	33,617
	-------	--------	-------	--------
Carrying amount
At 30 November 2024	5,737	13,683	1,978	21,398
	-------	--------	-------	--------
At 30 November 2023	2,250	18,245	2,639	23,134
	-------	--------	-------	--------

8. DEBTORS

	2024	2023
	£	£
Trade debtors	34,731	110,293
Directors current accounts	75,094	–
Other debtors	595	561
	----------	----------
	110,420	110,854
	----------	----------

9. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	26,565	99,006
Accruals and deferred income	2,919	3,538
Corporation tax	26,888	25,820
Social security and other taxes	6,226	10,734
Directors current accounts	–	13,099
Other creditors	16,503	48,063
	--------	----------
	79,101	200,260
	--------	----------

10. RELATED PARTY TRANSACTIONS

The directors own the land and building from which the company trades, and rent of £10,000 per annum is paid to them for the use of the premises. During the year the directors made available loans to the company. The loans are interest free and repayable on demand. At the year end date the balance owed by the directors totalled £ 75,094 (2023 : £ 13,099 owed to the directors)

P P SNACK FOODS LTD

MANAGEMENT INFORMATION

YEAR ENDED 30 NOVEMBER 2024

The following pages do not form part of the financial statements.

P P SNACK FOODS LTD

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF P P SNACK FOODS LTD

YEAR ENDED 30 NOVEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P P Snack Foods Ltd for the year ended 30 November 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of P P Snack Foods Ltd, as a body, in accordance with the terms of our engagement letter dated 21 May 2019. Our work has been undertaken solely to prepare for your approval the financial statements of P P Snack Foods Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P P Snack Foods Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P P Snack Foods Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P P Snack Foods Ltd. You consider that P P Snack Foods Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of P P Snack Foods Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

TOWNENDS ACCOUNTANTS LLP Chartered Accountants

Fulford Lodge 1 Heslington Lane Fulford York YO10 4HW

2 September 2025