REGISTERED NUMBER: 05931674 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

DANI ORGANIC FOODS LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Financial Statements

10

DIRECTORS:

Mr Anand Dani

Mr Amar Dani

SECRETARY:

Ms Jigna Dani

REGISTERED OFFICE:

1 Doughty Street

London

WC1N 2PH

REGISTERED NUMBER:

05931674 (England and Wales)

AUDITORS:

PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

The directors present their strategic report for the year ended 30th September 2024.

REVIEW OF BUSINESS

The company performed to a satisfactory level in 2023-24 despite an increasingly competitive trading environment.

Results for the year were as follows:

2024

2023

Turnover

£16,306,821

£14,901,155

GP Margin

22.29%

21.16%

Profit before tax

798,989

£804,825

Shareholders' funds

7,226,593

£6,660,819

PRINCIPAL RISKS AND UNCERTAINTIES

Market - The company's earnings are largely dependent on the volume of produce sold and the selling price obtained in each of markets it operates in. These are determined by market supply and demand.

Competition - The company operates in an extremely competitive market and if it fails to compete effectively, its business, results of operations and financial condition could be adversely affected.

Contingency and security of supply - The company is committed to widening its supply base geographically to increase contingency of supply to mitigate risks of disruption caused by adverse weather patterns or political disruptions.

Customers - The company's customer base consists primarily of retailers and wholesalers. The increasing concentration of customers can increase credit risk. Changes in the trading relationships with major customers or of their procurement policies could positively or adversely affect the operations and profitability of the company.

Foreign exchange / currency - Some of the company's sales and purchases are transacted in currencies other than sterling.

Credit - The company limits undue counterparty exposure by ensuring robust procedures are followed prior to starting trade with a new customer and ongoing exposure is monitored on an ongoing basis.

Sustainability - The company is committed to operating in a sustainable way across all its business activities and these are conducted in an ethical and responsible way. The company recognises the risks involved and regularly conducts audits with its suppliers to ensure compliance.

Finance - The company secures its working capital requirements through normal banking channels. Such bank loans are repayable on demand and the company is dependant on the continued support of the banks and renewal of such facilities.

People - The company is dependent on the continuing commitment of its management. The loss of such key personnel without adequate replacement could have a negative impact on the performance of the company.

The management team has considerable experience in managing all these risks while delivering sustainable profit growth.

ON BEHALF OF THE BOARD:

Mr Anand Dani - Director

30th September 2025

The directors present their report with the financial statements of the company for the year ended 30th September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale of organic products. The company's place of business is Hersden, Canterbury.

DIVIDENDS

The company paid dividends amounting to £27,000 (2023: £32,000) during the year.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report.

Mr Anand Dani

Mr Amar Dani

POLITICAL DONATIONS AND EXPENDITURE

There were no political donations in the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, PSJ Alexander & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr Anand Dani - Director

30th September 2025

Opinion

We have audited the financial statements of Dani Organic Foods Ltd (the 'company') for the year ended 30th September 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30th September 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

-

we reviewed the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations that have a direct effect on the financial statements;

-

we enquired with the management team concerning actual and potential litigation and claims;

-

we performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

we read minutes of meetings of those charged with governance;

-

we obtained an understanding of any provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

-

we addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Vimal Shah (Senior Statutory Auditor)

for and on behalf of PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

30th September 2025

TURNOVER

3

16,306,821

14,901,155

Cost of sales

12,672,314

11,748,026

GROSS PROFIT

3,634,507

3,153,129

Administrative expenses

2,818,481

2,343,670

816,026

809,459

Other operating income

201,873

207,919

OPERATING PROFIT

5

1,017,899

1,017,378

Interest payable and similar expenses

6

218,910

212,553

PROFIT BEFORE TAXATION

798,989

804,825

Tax on profit

7

206,215

265,143

PROFIT FOR THE FINANCIAL YEAR

592,774

539,682

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

592,774

539,682

FIXED ASSETS

Intangible assets

9

1

1

Tangible assets

10

1,355,896

1,476,978

Investments

11

18,000

18,000

1,373,897

1,494,979

CURRENT ASSETS

Stocks

12

5,713,162

6,265,923

Debtors

13

5,301,113

5,172,799

Cash at bank and in hand

233,400

126,552

11,247,675

11,565,274

CREDITORS

Amounts falling due within one year

14

4,448,463

5,277,878

NET CURRENT ASSETS

6,799,212

6,287,396

TOTAL ASSETS LESS CURRENT LIABILITIES

8,173,109

7,782,375

CREDITORS

Amounts falling due after more than one year

15

(602,450

)

(749,175

)

PROVISIONS FOR LIABILITIES

19

(344,066

)

(372,381

)

NET ASSETS

7,226,593

6,660,819

CAPITAL AND RESERVES

Called up share capital

20

1,000

1,000

Retained earnings

21

7,225,593

6,659,819

SHAREHOLDERS' FUNDS

7,226,593

6,660,819

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2025 and were signed on its behalf by:

Mr Anand Dani - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st October 2022

1,000

6,152,137

6,153,137

Changes in equity

Dividends

-

(32,000

)

(32,000

)

Total comprehensive income

-

539,682

539,682

Balance at 30th September 2023

1,000

6,659,819

6,660,819

Changes in equity

Dividends

-

(27,000

)

(27,000

)

Total comprehensive income

-

592,774

592,774

Balance at 30th September 2024

1,000

7,225,593

7,226,593

Cash flows from operating activities

Cash generated from operations

25

1,055,419

112,885

Interest paid

(218,910

)

(212,553

)

Tax paid

(167,325

)

(359,224

)

Net cash from operating activities

669,184

(458,892

)

Cash flows from investing activities

Purchase of tangible fixed assets

(8,334

)

(53,982

)

Sale of tangible fixed assets

13,000

28,917

Net cash from investing activities

4,666

(25,065

)

Cash flows from financing activities

Bank loan repayments in year

(327,144

)

(302,184

)

Loan advanced to related companies

(29,300

)

-

Amount introduced by directors

90,305

713,513

Amount withdrawn by directors

(273,863

)

-

Equity dividends paid

(27,000

)

(32,000

)

Net cash from financing activities

(567,002

)

379,329

Increase/(decrease) in cash and cash equivalents

106,848

(104,628

)

Cash and cash equivalents at beginning of year

26

126,552

231,180

Cash and cash equivalents at end of year

26

233,400

126,552

1.	STATUTORY INFORMATION

Dani Organic Foods Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

The estimates and assumptions used in the accompanying financial statements are based upon management's evaluation of the relevant facts and circumstances as on the date of the financial statements. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

Information about estimation uncertainties that may have a significant risk of resulting in a material adjustment within the next financial year are:

Tangible fixed assets - the residual values of the fixed assets (excluding land) are reviewed annually after considering the remaining life of the asset and projected disposal values. The estimation of the useful lives is based on historic performance as well as expectation about future use and, therefore, requires a degree of judgement to be applied. The depreciation rates represent management's current best estimate of the useful lives of the assets. A material change in these estimates may significantly impact the carrying values of these assets.

Turnover

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

Revenue for sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer, there is no continuing involvement with the goods, and the amount of revenue can be measured reliably, which can be on the date of shipment or the date of receipt by the customer. Transfer of risks and rewards varies depending on the individual terms of the contract of sale, including the delivery conditions, agreed with the customers. Revenue also includes sales to associated companies.

Revenue is recorded net of trade promotion and discounts, which is recognised as incurred, generally at the time of the sale. Accruals for expected promotion and discount payouts to customer are included as accruals in the Balance Sheet. Revenue is also recorded net of Value Added Tax.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed 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.

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:

Freehold Property

- 5% straight line

Plant and machinery

- 25% reducing balance

Fixtures, fittings and equipment

- 25% reducing balance

Motor vehicles under finance lease

- 25% reducing balance

Land is not depreciated.

Stocks

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

Obsolete stock provision is based on stock which was purchased 24 months prior to the year-end but has either not been sold post the year-end or which has not been processed to be blended with other raw materials post year-end.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Fixed asset investments

Fixed assets investments are measured initially at cost and at subsequent reporting dates at fair value. When it is not possible to measure the fair value of investments reliably, the investments are shown at cost less impairment.

Changes in fair value of the investments are recognised in the Income Statement.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

4,122,440

4,127,210

Europe

10,679,721

10,056,797

United States of America

805,845

426,198

Rest of the World

698,815

290,950

16,306,821

14,901,155

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,273,656

1,177,818

Social security costs

125,939

114,100

Other pension costs

92,180

86,719

1,491,775

1,378,637

The average number of employees during the year was as follows:

2024

2023

Administrative

22

23

Warehouse/Processing

14

20

36

43

2024

2023

£

£

Directors' remuneration

150,000

150,000

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024

2023

£

£

Hire of plant and machinery

-

6,557

Depreciation - owned assets

114,724

129,351

Loss/(profit) on disposal of fixed assets

1,692

(28,917

)

Auditors remuneration

43,880

11,850

Foreign exchange differences

(103,767

)

(257,419

)

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

161,925

149,092

Loan interest

56,985

63,461

218,910

212,553

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

234,530

192,000

Deferred taxation

(28,315

)

73,143

Tax on profit

206,215

265,143

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

798,989

804,825

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 22%)

199,747

177,062

Effects of:

Expenses not deductible for tax purposes

10,870

7,107

Depreciation in excess of capital allowances

32,720

14,311

Adjustments to tax charge in respect of previous periods

(8,501

)

(6,211

)

Deferred tax provision

(28,315

)

73,143

Structures and buildings allowance

(306

)

(269

)

Total tax charge

206,215

265,143

8.

DIVIDENDS

2024

2023

£

£

Interim

27,000

32,000

9.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1st October 2023

and 30th September 2024

35,246

AMORTISATION

At 1st October 2023

and 30th September 2024

35,245

NET BOOK VALUE

At 30th September 2024

1

At 30th September 2023

1

10.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1st October 2023

1,514,853

40,725

813,270

Additions

-

-

8,334

Disposals

-

-

(34,826

)

At 30th September 2024

1,514,853

40,725

786,778

DEPRECIATION

At 1st October 2023

323,171

3,054

615,558

Charge for year

54,412

2,036

47,838

Eliminated on disposal

-

-

(20,134

)

At 30th September 2024

377,583

5,090

643,262

NET BOOK VALUE

At 30th September 2024

1,137,270

35,635

143,516

At 30th September 2023

1,191,682

37,671

197,712

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st October 2023

170,464

35,675

2,574,987

Additions

-

-

8,334

Disposals

-

-

(34,826

)

At 30th September 2024

170,464

35,675

2,548,495

DEPRECIATION

At 1st October 2023

129,663

26,563

1,098,009

Charge for year

8,160

2,278

114,724

Eliminated on disposal

-

-

(20,134

)

At 30th September 2024

137,823

28,841

1,192,599

NET BOOK VALUE

At 30th September 2024

32,641

6,834

1,355,896

At 30th September 2023

40,801

9,112

1,476,978