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Registration number: 08337443

Sapphire Foods Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

Sapphire Foods Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Sapphire Foods Limited

Company Information

Directors | Mr M L Logut Ms P Linowska Ms E L Woodward

Company secretary | Mrs C H Read

Registered office | 3 Rowan House Sheldon Business Park Chippenham Wiltshire SN14 0SQ

Accountants | Harbour Key Limited Midway House Herrick Way Staverton Cheltenham GL51 6TQ

Sapphire Foods Limited

(Registration number: 08337443)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 12,057 | 19,373
Current assets |  |  |
Stocks | 5 | 14,164 | 24,382
Debtors | 6 | 1,859,812 | 1,845,985
Cash at bank and in hand |  | 589,772 | 512,928
|  | 2,463,748 | 2,383,295
Creditors: Amounts falling due within one year | 7 | (1,770,853) | (1,786,286)
Net current assets |  | 692,895 | 597,009
Total assets less current liabilities |  | 704,952 | 616,382
Provisions for liabilities |  | (529) | (2,199)
Net assets |  | 704,423 | 614,183
Capital and reserves |  |  |
Called up share capital |  | 200 | 8
Capital redemption reserve |  | 2 | 2
Retained earnings |  | 704,221 | 614,173
Shareholders' funds |  | 704,423 | 614,183

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 October 2025 and signed on its behalf by:

......................................... Mr M L Logut Director

Sapphire Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Rowan House
Sheldon Business Park
Chippenham
Wiltshire
SN14 0SQ
United Kingdom

These financial statements were authorised for issue by the Board on 14 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of the financial statements is British Pound £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are round to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Sapphire Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 25% straight line
Kitchen equipment | 25% straight line
Fixtures & fittings | 25% straight line
Motor vehicles | 25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Sapphire Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 6).

Sapphire Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Motor vehicles £ | Kitchen equipment £ | Total £
Cost or valuation
At 1 February 2024 | 2,549 | 22,048 | 11,250 | 27,879 | 63,726
Additions | - | 1,727 | - | - | 1,727
At 31 January 2025 | 2,549 | 23,775 | 11,250 | 27,879 | 65,453
Depreciation
At 1 February 2024 | 1,274 | 19,019 | 2,813 | 21,247 | 44,353
Charge for the year | 637 | 1,697 | 2,813 | 3,896 | 9,043
At 31 January 2025 | 1,911 | 20,716 | 5,626 | 25,143 | 53,396
Carrying amount
At 31 January 2025 | 638 | 3,059 | 5,624 | 2,736 | 12,057
At 31 January 2024 | 1,275 | 3,029 | 8,437 | 6,632 | 19,373

Sapphire Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 14,164 | 24,382

6 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 1,377,292 | 1,565,062
Prepayments |  | 20,695 | 18,688
Other debtors | 9 | 461,825 | 262,235
|  | 1,859,812 | 1,845,985

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 1,687,210 | 1,667,347
Taxation and social security | 11,010 | 5,865
Other creditors | 72,633 | 113,074
| 1,770,853 | 1,786,286

8 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 2,349 | 28,179
Later than one year and not later than five years | - | 2,349
| 2,349 | 30,528

The amount of non-cancellable operating lease payments recognised as an expense during the year was £27,498 (2024 - £27,416).

Sapphire Foods Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9 | Related party transactions

Transactions with directors

2025 | At 1 February 2024 £ | Advances to director £ | Repayments by director £ | At 31 January 2025 £
No interest charged and no repayment terms. | 53,122 | 275,170 | (56,638) | 271,654

2024 | At 1 February 2023 £ | Advances to director £ | Repayments by director £ | At 31 January 2024 £
No interest charged and no repayment terms. | 23,306 | 61,771 | (31,955) | 53,122

Summary of transactions with related parties

Included in debtors is an amount of £159,590 (2024: £163,755) due from companies in which a director is also a director and shareholder.