REGISTERED NUMBER: 10237004 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2024

for

Yumchop Foods Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

5

DIRECTORS:

M A Adefisan

Mrs A A Adefisan

Chub Technologies Limited

SECRETARY:

Mrs A A Adefisan

REGISTERED OFFICE:

Unit 3

Bryant Road

Bedworth

Warwickshire

CV7 9EN

REGISTERED NUMBER:

10237004 (England and Wales)

ACCOUNTANTS:

CED Accountancy Services Limited

1 Lucas Bridge Business Park

1 Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

FIXED ASSETS

Tangible assets

4

210,562

243,029

CURRENT ASSETS

Stocks

10,000

-

Debtors

5

66,904

19,237

Cash at bank and in hand

10,906

7,034

87,810

26,271

CREDITORS

Amounts falling due within one year

197,646

85,587

NET CURRENT LIABILITIES

(109,836

)

(59,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100,726

183,713

CREDITORS

Amounts falling due after more than one year

6

(419,545

)

(708,458

)

PROVISIONS FOR LIABILITIES

7

(52,641

)

(60,757

)

NET LIABILITIES

(371,460

)

(585,502

)

CAPITAL AND RESERVES

Called up share capital

34,540

8,820

Share premium

859,039

544,789

Retained earnings

(1,265,039

)

(1,139,111

)

(371,460

)

(585,502

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

M A Adefisan - Director

1.	STATUTORY INFORMATION

Yumchop 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.

The directors confirm that they have assessed the company's ability to continue as a going concern for a period of at least 12 months from the date these financial statements were authorised for issue. While the company remains a going concern, the directors acknowledge that uncertainty exists. During the year to 30 June 2026 the company expects to receive additional funding resulting from ongoing litigation with a large publicly funded organisation and also additional ongoing investment from potential new investors. Furthermore the company has developed plans to ensure that sufficient funding exists for the next 12 month period including an upgraded contract with a major retailer that is meant to give the company a monthly guarantee minimum quantity order over a period of 12 to 24 months. This will further strengthen cashflow for the business. In addition, the business is currently pivoting into meal subscription services that is on a strategy of guaranteed revenue before product is produced. This will further strengthen the business. Additionally the present investors in the company and the director himself have confirmed that they do not have any intention to withdraw their funding which has supported the company since it commenced trading. Based on these plans and the available information, the directors have a reasonable expectation that the company will be able to continue in operation and meet it's liabilities', as they fall due.

Turnover

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

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% 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 Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2023

388,856

Additions

5,346

At 30 June 2024

394,202

DEPRECIATION

At 1 July 2023

145,827

Charge for year

37,813

At 30 June 2024

183,640

NET BOOK VALUE

At 30 June 2024

210,562

At 30 June 2023

243,029

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.24

30.6.23

£

£

Other debtors

13,192

-

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.6.24

30.6.23

£

£

Repayable by instalments

Bank loans more 5 yr by instal

16,461

23,031

7.	PROVISIONS FOR LIABILITIES

30.6.24

30.6.23

£

£

Deferred tax

52,641

60,757

Deferred

tax

£

Balance at 1 July 2023

60,757

Provided during year

(8,116

)

Balance at 30 June 2024

52,641

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24

30.6.23

£

£

K Motajo

Balance outstanding at start of year

-

-

Amounts advanced

41,942

-

Amounts repaid

(28,750

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,192

-