ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 07573287

EVERTASTE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

EVERTASTE LIMITED

COMPANY INFORMATION

Directors	H Alpert
	N A N Van Den Berg
	N A Thomas
	A W Guido Vogt
	S Barton


Company secretary	B Thomas


Registered number	07573287


Registered office	Ash House
	Littleton Road
	Ashford
	England
	TW15 1TZ


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditors
	3 Brook Business Centre
	Cowley Mill Road
	Uxbridge
	Middlesex
	UB8 2FX

EVERTASTE LIMITED

CONTENTS

	Page
Strategic report	1
Directors' report	2 - 3
Independent auditors' report	4 - 8
Statement of comprehensive income	9
Statement of financial position	10
Statement of changes in equity	11
Notes to the financial statements	12 - 27

EVERTASTE LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The Directors present their strategic report for the year ended 31 December 2024.

Review of the business

The results for the Company show a profit before taxation of £601,491 (2023 - £4,549) for the year and turnover of £16.1m (2023 - £13.4m).
The company's key financial and other performance indicators during the year were as follows:
2024 2023 Variance
£000 £000 %
Turnover 16,148 13,378 18.76%
Profit before taxation 601 5 11,920%
Profit before taxation margin 4.25% 0.03% 14,067%
Total sharehoIders' funds 6,624 6,197 6.9%
Turnover increased by £2.8m during the year compared to the prior year. The increase was primarily due to the reorganisation in the second quarter of 2023, when the net assets and trade of Supplair UK Limited, a subsidiary, were transferred into the Company. As a result, 2024 had the full year impact of the transferred trade, whereas 2023 only included a partial impact.
The Company’s strategic plan is to sustain long term profitability and further strengthen its established business model. The Company will focus on building on its existing foundations to drive sustainable growth and value for both its customers and shareholders by implementing productivity and efficiency measures, while enhancing product offerings.

Principal risks and uncertainties

The management of the business and the execution of the Company’s strategy are subject to a number of risks. The key business risks and uncertainties affecting the Company are considered to be competition from national and international airline catering companies and also the loss of significant customers.

In addition to the risks set out above, the aviation and airport sector has in the past been adversely affected by terrorist action and security incidents. A significant global terrorist incident or increased regulation to reduce the risk of such incident could adversely impact performance.

This report was approved by the board on 26 September 2025 and signed on its behalf.

B Thomas

Secretary

Page 1

EVERTASTE LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙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 to 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.

Principal activity

The principal activities of the Company continue to be the production of ambient, fresh and frozen meal boxes, as well as the brokerage and distribution of branded products for the travel industry.

Results and dividends

The profit for the year, after taxation, amounted to £427,226 (2023 - £26,853).

Dividends declared and paid in the year amounted to £Nil (2023 - £Nil).

Going concern

The directors of the company assess the basis of preparation of the financial statements each year, and whether it is appropriate to prepare them on a going concern basis. To support their assessment of going concern, the directors have conducted a going concern review, considering the liquidity position of the business for a going concern assessment period of 12 months from the date of approval of the financial statements. This has involved completing cash flow forecasts for the going concern assessment period, including consideration of downside scenarios. From their assessment, the Directors believe that the Company will have sufficient funds to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Page 2

EVERTASTE LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Directors

The directors who served during the year were:

H Alpert

N A N Van Den Berg

N A Thomas

A W Guido Vogt

S Barton

Matters covered in the Strategic Report

The Company has chosen, in accordance with section 414C of the Companies Act 2006, to set out the following information which would otherwise be required to be contained in the director's report within the strategic report:
(a) Business review; and
(b) Financial risk management objective and policies.
Post balance sheet events
There are no post balance sheet events that require disclosure or amendments to the financial statements.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its
successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.

This report was approved by the board on 26 September 2025 and signed on its behalf.

B Thomas

Secretary

Page 3

EVERTASTE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVERTASTE LIMITED

Opinion

We have audited the financial statements of Evertaste Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity, the Statement of cash flows and the related notes, 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 31 December 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 United Kingdom, including the Financial Reporting Council'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.

Page 4

EVERTASTE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVERTASTE LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Directors' report 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 Directors' report.

We have nothing to report in respect of the following matters in relation to which 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.

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime.

Page 5

EVERTASTE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVERTASTE LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 2, 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 is 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 an Auditors' report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:

∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

∙We identified the laws and regulations applicable to the Company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;

∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, are as follows:

°Companies Act 2006

°FRS102

°Employment legislation

°Health and Safety legislation

°Tax legislation

∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing board minutes; and

∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit.

Page 6

EVERTASTE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVERTASTE LIMITED (CONTINUED)

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:

∙Making inquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;

∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

∙Reviewing the financial statements and testing the disclosures against supporting documentation;

∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;

∙Inspecting and testing journal entries to identify unusual or unexpected transactions;

∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and

∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.

The areas that we identified as being susceptible to misstatement through fraud were:

∙Management bias in the estimates and judgements made;

∙Management override of controls; and

∙Posting of unusual journals or transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' report.

Page 7

EVERTASTE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVERTASTE LIMITED (CONTINUED)

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 an Auditors' report 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.

Mark Hancock (Senior statutory auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants & Statutory Auditors

3 Brook Business Centre

Cowley Mill Road

Uxbridge

Middlesex

UB8 2FX

30 September 2025

Page 8

EVERTASTE LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	16,147,573	13,378,142
Cost of sales		(12,953,317)	(11,083,433)
Gross profit		3,194,256	2,294,709
Distribution costs		(268,899)	(313,628)
Administrative expenses		(2,335,360)	(1,801,068)
Operating profit	5	589,997	180,013
Income from fixed assets investments	9	-	1,482,222
Amounts written off investments		-	(1,615,354)
Interest receivable and similar income	10	11,494	9,949
Interest payable and similar expenses	11	-	(52,281)
Profit before tax		601,491	4,549
Tax on profit	12	(174,265)	22,304
Profit for the financial year		427,226	26,853

Total comprehensive income for the year

427,226

26,853

The notes on pages 12 to 27 form part of these financial statements.

Page 9

EVERTASTE LIMITED

REGISTERED NUMBER: 07573287

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	13		3,195,145		3,578,563
Investments	15		2		2
			3,195,147		3,578,565
Current assets
Stocks	16	240,176		397,355
Debtors: amounts falling due within one year	17	5,878,386		6,447,702
Cash at bank and in hand	18	681,548		151,778
		6,800,110		6,996,835
Creditors: amounts falling due within one year	19	(3,371,413)		(4,378,782)
Net current assets			3,428,697		2,618,053
Total assets less current liabilities			6,623,844		6,196,618

Net assets			6,623,844		6,196,618

Capital and reserves
Called up share capital	21	49,000	49,000
Share premium account	22	5,375,925	5,375,925
Profit and loss account	22	1,198,919	771,693
		6,623,844	6,196,618

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.

N A Thomas

Director

The notes on pages 12 to 27 form part of these financial statements.

Page 10

EVERTASTE LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	49,000	5,375,925	771,693	6,196,618
Comprehensive income for the year
Profit for the year	-	-	427,226	427,226
Total comprehensive income for the year	-	-	427,226	427,226
At 31 December 2024	49,000	5,375,925	1,198,919	6,623,844

The notes on pages 12 to 27 form part of these financial statements.

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2023	49,000	5,375,925	744,840	6,169,765
Comprehensive income for the year
Profit for the year	-	-	26,853	26,853
Total comprehensive income for the year	-	-	26,853	26,853
At 31 December 2023	49,000	5,375,925	771,693	6,196,618

The notes on pages 12 to 27 form part of these financial statements.

Page 11

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Evertaste Limited is a private Company, limited by shares and incorporated in the United Kingdom. The registered Office is at Ash House, Littleton Road, Ashford, England, TW15 1TZ.
The principal activity of the Company is production of ambient, fresh and frozen meal boxes for the travel industry.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The company is a parent company that is also a subsidiary included in the consolidated financial statements of its ultimate parent and controlling company and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Reduced disclosures

FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including notification of, and no objection to, the use of exemptions by the Company's shareholders.

∙Section 7 ‘Statement of Cash Flows’ - Presentation of a Statement of Cash Flow and related notes and disclosures.

∙Section 11 ‘Basic Financial Instruments’ & Section 12 ‘Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches. details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income.

∙Section 33 ‘Related Party Disclosures’ - Compensation for key management personnel.

The financial statements of the Company are consolidated in the financial statements of gategroup Holding AG, which is incorporated in Switzerland. The consolidated financial statements of gategroup Holding AG are available on the Group’s webpage.

Page 12

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 13

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

2.6

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 14

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

The Company’s employees participate in a defined contribution pension plan which is operated and administered by Gate Gourmet London Limited, from whom payroll services are recharged. Under the arrangement, the Company is recharged for its share of pension contributions relating to its employees. Once these contributions have been recharged and paid, the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Any amounts outstanding at the year end are included within accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life of 10 years.

Page 15

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant and machinery	-	25%
				Office equipment	-	20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 16

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have had to make the following judgements in applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements.
Impairment of trade debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Inventory provisioning
The inventory balance consists of ambient, fresh and frozen boxes which are subject to changing consumer demand. As a result it is necessary to consider the recoverability of the cost of inventory and the associated provisioning required. When calculating the inventory provision, management considers the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Page 17

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Turnover

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	13,166,141	9,868,813
Rest of Europe	2,981,432	3,509,329
	16,147,573	13,378,142

All turnover is in respect of the Company's principal activity.

Depreciation of owned tangible assets	-	12,567
Exchange differences	39,457	15,500
Other operating lease rentals	383,418	383,418


	Fees payable to the Company's auditors for the audit of the Company's financial statements	20,060	18,600

Page 18

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Wages and salaries	1,158,996	969,096
Social security costs	101,372	84,714
Cost of defined contribution pension scheme	30,993	25,997
	1,291,361	1,079,807

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Production and distribution	9	4
General and administrative	9	20

	18	24

During the year, the intercompany salary recharges to the company amounted to £1,291,361 (2023 - £1,079,807).
The wage expense in the current year consists of recharges paid to group companies. The employee numbers shown above represent individuals who are contracted with group companies but work for the Company.

8.	Directors' remuneration

The directors were not remunerated through this company during the year and their services as directors are paid by other group companies with no recharge made to this company. It is not possible to make a fair apportionment to this company.

9.	Income from investments
		2024	2023
		£	£

Dividends received from unlisted investments	-	1,482,222
	-	1,482,222

Page 19

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Interest receivable
		2024	2023
		£	£

	Other interest receivable	11,494	9,949
		11,494	9,949

11.	Interest payable and similar expenses
		2024	2023
		£	£

	Other loan interest payable	-	52,281
		-	52,281

Corporation tax
Current tax on profits for the year	212,486	-
Adjustments in respect of previous periods	(38,221)	(67,474)
	174,265	(67,474)
Total current tax	174,265	(67,474)

Deferred tax
Origination and reversal of timing differences	-	45,170
Total deferred tax	-	45,170

Tax on profit

174,265

(22,304)

Page 20

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.Taxation (continued)

Profit on ordinary activities before tax

601,491

4,549

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	150,373	1,137
Effects of:
Non-tax deductible amortisation of goodwill and impairment	96,318	439,677
Capital allowances for year in excess of depreciation	(1,338)	1,419
Utilisation of tax losses	(32,867)	(93,843)
Non-taxable income less expenses not deductible for tax purposes, other than goodwill and impairment	-	(348,390)
Adjustment in respect of prior year	(38,221)	(67,474)
Deferred tax	-	45,170
Total tax charge/(credit) for the year	174,265	(22,304)

Factors that may affect future tax charges

There are no significant factors that may materially affect future tax charges.

Page 21

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2024	3,834,175
	At 31 December 2024	3,834,175
	Amortisation
	At 1 January 2024	255,612
	Charge for the year	383,418
	At 31 December 2024	639,030
	Net book value
	At 31 December 2024	3,195,145
	At 31 December 2023	3,578,563

Page 22

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	Tangible fixed assets

	Plant and machinery	Office equipment	Total
	£	£	£
Cost
At 1 January 2024	83,000	99,168	182,168
At 31 December 2024	83,000	99,168	182,168
Depreciation
At 1 January 2024	83,000	99,168	182,168
At 31 December 2024	83,000	99,168	182,168
Net book value
At 31 December 2024	-	-	-
At 31 December 2023	-	-	-

Page 23

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 January 2024	5,449,531
	At 31 December 2024	5,449,531
	Impairment
	At 1 January 2024	5,449,529
	At 31 December 2024	5,449,529
	Net book value
	At 31 December 2024	2
	At 31 December 2023	2

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Class of shares	Holding

Supplair UK Ltd

Ash House, Littleton Road, Ashford, TW15 1TZ

Ordinary Shares

100%

	The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:
	Name	Net assets £

Supplair UK Ltd

The principal activity of the Company was the provision of fresh, frozen and chilled products to the airline industry.
During the prior year, the net assets and the trade of Supplair UK Ltd was transferred into Evertaste Limited. The company is now dormant.

Page 24

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

16.	Stocks
		2024	2023
		£	£

Consumables	240,176	397,355
	240,176	397,355

17.

Debtors

					2024	2023
					£	£

Trade debtors	251,351	282,235
Amounts owed by group undertakings	4,911,915	5,378,870
Other debtors	643,336	607,076
Prepayments and accrued income	55,376	163,113
Deferred taxation (see note 20)	16,408	16,408
	5,878,386	6,447,702

18.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	681,548	151,778
	681,548	151,778

19.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	2,106,306	2,915,324
Amounts owed to group undertakings	258,540	321,744
Corporation tax	212,486	-
Other creditors	-	746
Accruals and deferred income	794,081	1,140,968
	3,371,413	4,378,782

Page 25

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

20.	Deferred taxation

		2024
		£

	At beginning of year	16,408
	At end of year	16,408

The deferred tax asset is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	7,435	7,435
Tax losses carried forward	8,973	8,973
	16,408	16,408

21.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

49,000 Ordinary shares of £1 each	49,000	49,000

22.

Reserves

Share premium account

Share premium includes excess amount received by a company over the par value of its shares.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

Page 26

EVERTASTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

23.	Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 and has not disclosed related party transactions between wholly owned members of the group.
During the year, the company provided airline catering services to the Deutsche Lufthansa AG group as well as Gate Group companies in the ordinary course of business. The company also received management, administration and technical support services from the Deutsche Lufthansa AG group companies, as well as Gate Group companies, in the ordinary course of business
Transactions entered into, and trading balances outstanding at 31 December 2024, are as follows:

	Purchases from related parties 2024	Purchases from related parties 2023	Amounts owed from/(to) related parties at 31 December 2024	Amounts owed to related parties at 31 December 2023
	£	£	£	£
Gate Gourmet del Ecuador Cia Ltda	-	-	204	214
SkylogistiX GmbH	-	4,186	-	1,456
		4,186	204	1,670

24.	Post balance sheet events

There are no post balance sheet events that require disclosure or amendments to the financial statements.

25.	Ultimate parent undertaking and controlling party

The directors consider the company's immediate controlling undertaking is Gate Gourmet Switzerland Holding GmbH. The directors consider gategroup Holding AG, which heads the smallest and largest group for which group financial statements are prepared to be the ultimate parent and controlling company. The consolidated financial statements of gategroup Holding AG are available to the public and may be obtained from Sagereistrasse 20, 8152 Glattbrugg, Switzerland.
The registered address of gategroup Holding AG is Sagereistrasse 20, 8152 Glattbrugg, Switzerland.

Page 27