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Registered Number: 08744823
England and Wales

 

 

 

WOSIWOSI FOODS LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

Wosiwosi Foods Limited
Contents Page
For the year ended 31 December 2024
The board of directors consider that the company is exempt from an audit for the year ended 31 December 2024 . It acknowledged, on the balance sheet, its responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with the director's instructions, we have prepared the accounts which comprise the Profit and Loss Account,  the Balance Sheet, and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................

Greenwhite Consulting Limited
6 Mitre Passage
Greenwich Peninsula
London
SE10 0ER
30 September 2025
1
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Intangible fixed assets 3 633,009    - 
Tangible fixed assets 4 203,295    57,831 
Investments 5 766    - 
837,070    57,831 
Current assets      
Stocks 326,406    300,000 
Debtors: amounts falling due within one year 39,219    109,033 
Debtors: amounts falling due after one year 410,000    514,112 
Cash at bank and in hand 10,362    3,662 
785,987    926,807 
Creditors: amount falling due within one year (710,345)   (324,746)
Net current assets 75,642    602,061 
 
Total assets less current liabilities 912,712    659,892 
Creditors: amount falling due after more than one year (441,728)   (796,484)
Provisions for liabilities (17,464)   (6,247)
Net assets 453,520    (142,839)
 

Capital and reserves 		     
Called up share capital 207,101    207,101 
Revaluation Reserves 633,009    - 
Profit and loss account (386,590)   (349,940)
Shareholders' funds 453,520    (142,839)
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 September 2025 and were signed on its behalf by:


-------------------------------
Adekunle Awobadejo
Director
2
General Information
Wosiwosi Foods Limited is a private company, limited by shares, registered in England and Wales, registration number 08744823, registration address Unit 19 Repton Court, Repton Close, Basildon, Essex, SS13 1LN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 18% Reducing Balance
Fixtures and Fittings 18% Reducing Balance
Plant and Machinery 10% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

The company reports average number of employees as follows: 
Average number of employees during the year was 15 (2023 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2024 500,000    500,000 
Additions -    - 
Disposals -    - 
Revaluations 133,009    133,009 
At 31 December 2024 633,009    633,009 
Net book values
At 31 December 2024 633,009    633,009 
At 31 December 2023 500,000    500,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2024 182,976    87,244    2,236    272,456 
Additions 2,426    -    -    2,426 
Disposals -    -    -    - 
At 31 December 2024 185,402    87,244    2,236    274,882 
Depreciation
At 01 January 2024 39,384    19,750    1,379    60,513 
Charge for year 5,111    5,576    387    11,074 
On disposals -    -    -    - 
At 31 December 2024 44,495    25,326    1,766    71,587 
Net book values
Closing balance as at 31 December 2024 140,907    61,918    470    203,295 
Opening balance as at 01 January 2024 29,592    27,382    857    57,831 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 -    - 
Additions 766    766 
Disposals -    - 
At 31 December 2024 766    766 

3