REGISTERED NUMBER: SC216477 (Scotland)

RICH SAUCES DIRECT LTD

Financial Statements for the Period 1 April 2024 to 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Anthony Francheterre

John Glover

Adam Jones

Maria Van Troys

REGISTERED OFFICE:

Unit 25 Tollpark Road

Wardpark Industrial Estate

Cumbernauld

Glasgow

G68 0LW

REGISTERED NUMBER:

SC216477 (Scotland)

INDEPENDENT AUDITORS:

CavanaghKelly

Chartered Accountants and Statutory Auditors

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Intangible assets

5

357,451

446,500

CURRENT ASSETS

Stocks

133,099

118,888

Receivables: amounts falling due within one year

6

219,498

179,378

Cash at bank and in hand

93,257

51,563

445,854

349,829

PAYABLES

Amounts falling due within one year

7

(380,338

)

(309,545

)

NET CURRENT ASSETS

65,516

40,284

TOTAL ASSETS LESS CURRENT LIABILITIES

422,967

486,784

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

422,867

486,684

422,967

486,784

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:

John Glover - Director

1.	STATUTORY INFORMATION

Rich Sauces Direct Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue

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

Goodwill

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

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.

Inventories

Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation

Taxation for the period 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 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2024 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 December 2024

446,500

AMORTISATION

Amortisation for period

89,049

At 31 December 2024

89,049

NET BOOK VALUE

At 31 December 2024

357,451

At 31 March 2024

446,500

6.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

130,596

175,749

Amounts owed by related parties

84,513

-

Other debtors

4,389

3,629

219,498

179,378

Amounts owed by related parties are unsecured, interest free and considered repayable on demand.

7.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade payables

22,163

69

Amounts owed to related parties

337,430

274,471

Taxation and social security

12,857

33,504

Other payables

7,888

1,501

380,338

309,545

Amounts owed to related parties are unsecured, interest free and considered repayable on demand.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)

for and on behalf of CavanaghKelly

9.	ULTIMATE CONTROLLING PARTY

Rich Sauces Direct Ltd is a subsidiary of Obarcs (Holdings) Limited, a company registered in Northern Ireland. The address of Obarcs (Holdings) Limited is 34 Jubilee Road, Newtownards, Co. Down, BT23 4YH. Obarcs (Holdings) Limited is regarded as the immediate parent company.

Solina Group Holdings SAS, a company incorporated in France, is considered to be the ultimate controlling party.