REGISTERED NUMBER: 10309936 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

PACIFIC FOODS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Y Wang

REGISTERED OFFICE:

6 Davy Avenue

Knowlhill

Milton Keynes

MK5 8HJ

REGISTERED NUMBER:

10309936 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02 High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Intangible assets

4

13,500

14,250

Tangible assets

5

282,578

368,278

296,078

382,528

CURRENT ASSETS

Stocks

6

521,678

906,850

Debtors

7

1,627,481

969,097

Cash at bank and in hand

80,457

7,491

2,229,616

1,883,438

CREDITORS

Amounts falling due within one year

8

3,579,990

2,929,380

NET CURRENT LIABILITIES

(1,350,374

)

(1,045,942

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,054,296

)

(663,414

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(1,054,396

)

(663,514

)

SHAREHOLDERS' FUNDS

(1,054,296

)

(663,414

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2025 and were signed by:

Mr Y Wang - Director

1.	STATUTORY INFORMATION

Pacific Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS

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.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - 5% on cost

Plant and machinery - 25% on reducing balance

Fixtures & fittings - 25% on reducing balance

Computer equipment - 33% on cost

Motor Vehicle - 33% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

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.

GOING CONCERN

The company's balance sheet shows a net deficit shareholders fund position. However, the director's have received confirmation from the shareholders of their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 September 2022

and 31 August 2023

15,000

Amortisation

At 1 September 2022

750

Charge for year

750

At 31 August 2023

1,500

Net book value

At 31 August 2023

13,500

At 31 August 2022

14,250

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

Cost

At 1 September 2022

23,151

473,349

219,385

Additions

-

-

14,000

At 31 August 2023

23,151

473,349

233,385

Depreciation

At 1 September 2022

5,660

272,360

145,753

Charge for year

1,158

50,247

21,352

At 31 August 2023

6,818

322,607

167,105

Net book value

At 31 August 2023

16,333

150,742

66,280

At 31 August 2022

17,491

200,989

73,632

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 September 2022

207,914

42,826

966,625

Additions

-

-

14,000

At 31 August 2023

207,914

42,826

980,625

Depreciation

At 1 September 2022

142,329

32,245

598,347

Charge for year

21,643

5,300

99,700

At 31 August 2023

163,972

37,545

698,047

Net book value

At 31 August 2023

43,942

5,281

282,578

At 31 August 2022

65,585

10,581

368,278

6.

STOCKS

2023

2022

£

£

Stocks

521,678

906,850

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,602,892

936,416

Other debtors

24,589

32,681

1,627,481

969,097

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 9)

477,265

249,430

Trade creditors

1,918,361

1,791,143

Taxation and social security

32,748

27,045

Other creditors

1,151,616

861,762

3,579,990

2,929,380

9.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

477,265

249,430

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Coventry Land Investments Ltd.