Registration number: 07466651

Food Innovation Solutions Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

Food Innovation Solutions Limited

(Registration number: 07466651)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed Assets
Tangible Assets	4	-	15,931
Current assets
Debtors	5	-	61,102
Cash at bank and in hand		-	437,295
		-	498,397
Creditors: Amounts falling due within one year	6	(1,740,144)	(917,927)
Net current liabilities		(1,740,144)	(419,530)
Net liabilities		(1,740,144)	(403,599)
Capital and Reserves
Called up share capital		100	100
Retained Earnings		(1,740,244)	(403,699)
Shareholders' deficit		(1,740,144)	(403,599)

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 September 2025 and signed on its behalf by:
 

......................................... M Faers Director

Food Innovation Solutions Limited

Notes to the Unaudited 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 10 Brunel Business Court
Eastern Way
Bury St Edmunds
Suffolk
IP32 7AJ
United Kingdom

These financial statements were authorised for issue by the Board on 9 September 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

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.

Tax

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.

Food Innovation Solutions Limited

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

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:

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 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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.

Food Innovation Solutions Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4	Tangible Assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	126,557	77,911	204,468
Additions	2,713	3,971	6,684
Disposals	(129,270)	(81,882)	(211,152)
At 31 December 2024	-	-	-
Depreciation
At 1 January 2024	113,175	75,362	188,537
Charge for the year	9,285	1,984	11,269
Eliminated on disposal	(122,460)	(77,346)	(199,806)
At 31 December 2024	-	-	-
Carrying amount
At 31 December 2024	-	-	-
At 31 December 2023	13,382	2,549	15,931

Food Innovation Solutions Limited

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

5

Debtors

Current	Note	2024 £	2023 £
Trade Debtors		-	38,459
Amounts owed by related parties	8	-	6,426
Prepayments		-	13,457
Other debtors		-	2,760
		-	61,102

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	-	6,631
Trade Creditors		-	4,737
Taxation and social security		-	226,892
Accruals and deferred income		-	119,456
Other creditors		1,740,144	560,211
		1,740,144	917,927

Food Innovation Solutions Limited

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

7	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	-	6,631

Food Innovation Solutions Limited

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

8	Related party transactions

Loans to related parties

2023	Entities with joint control or significant influence £	Total £
At start of period	49,084	49,084
Repaid	(49,084)	(49,084)
At end of period	-	-

Loans from related parties

2024	Entities with joint control or significant influence £	Total £
At start of period	501,918	501,918
Advanced	1,239,746	1,239,746
At end of period	1,741,664	1,741,664

2023	Entities with joint control or significant influence £	Total £
At start of period	205,842	205,842
Advanced	296,076	296,076
At end of period	501,918	501,918

Terms of loans from related parties

During the year the company received loans from group companies, these loans are repayable on demand and are interest free.
 

Food Innovation Solutions Limited

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

9	Parent and ultimate parent undertaking

The company's immediate parent is FIS - Group Limited, incorporated in United Kingdom.

 

10	Going Concern

At 31 December 2024 the company had net liabilities of £1,741,664 (2023: £403.599). Despite this the accounts have been prepared on a going conern basis as the group companies have provided a commitment to support the company. At the year end group companies were owed £1,741,664.