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Registered number: 15232275 KRAFT CHINESE FOOD SERVICE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 OCTOBER 2024
KRAFT CHINESE FOOD SERVICE LIMITED REGISTERED NUMBER: 15232275 BALANCE SHEET AS AT 31 OCTOBER 2024
|  | 2024
Note |  | £
Fixed assets |  |  |
Tangible assets | 4 |  | 77,541
|  |  | 77,541
Current assets |  |  |
Stocks |  | 12,000 |
Debtors: amounts falling due within one year | 5 | 48,899 |
Cash at bank and in hand |  | 16,843 |
|  | 77,742 |
Creditors: amounts falling due within one year | 6 | (146,655) |
Net current (liabilities)/assets |  |  | (68,913)
Total assets less current liabilities |  |  | 8,628
Provisions for liabilities |  |  |
Deferred tax |  | (3,752) |
|  |  | (3,752)
Net assets |  |  | 4,876
Capital and reserves |  |  |
Called up share capital | 8 |  | 100
Profit and loss account |  |  | 4,776
|  |  | 4,876
Page 1
KRAFT CHINESE FOOD SERVICE LIMITED REGISTERED NUMBER: 15232275 BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 October 2025.
M Zhao
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
KRAFT CHINESE FOOD SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024
1. | General information
The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 15232275. The Company's registered office is 14a Broadway Plaza, 220 Ladywood Middleway, Birmingham, England, B16 8LP. The company was incorporated on 24 October 2023 as i-Krave Solihull Limited. The company changed its name to Kraft Chinese Food Service Limited on 31 January 2024. The company began to trade on 27 February 2024 and these accounts cover the period from incorporation to 31 October 2024. The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. Cash flow Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company. The following principal accounting policies have been applied:
| 2.2 | Going concern
The accounts are prepared on the going concern basis.
| 2.3 | 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. Page 3
KRAFT CHINESE FOOD SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Finance costs
Finance costs are charged to profit or loss 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.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Current and deferred taxation
The tax expense for the period 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 balance sheet 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 balance sheet 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 balance sheet date. Page 4
KRAFT CHINESE FOOD SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.8 | 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. 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:
|  |  |  | Short-term leasehold property | - | 10% |
|  |  |  | Plant and machinery | - | 20% |
|  |  |  | Fixtures and fittings | - | 20% |
|  |  |  | Office equipment | - | 33% |
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 profit or loss.
| 2.9 | 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 weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet 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 profit or loss.
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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. Page 5
KRAFT CHINESE FOOD SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.14 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the period was 11.
4. | Tangible fixed assets
|  | Short-term leasehold property improve-ments | Plant and machinery | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| Additions | 39,419 | 21,200 | 25,099 | 231 | 85,949
| At 31 October 2024 | 39,419 | 21,200 | 25,099 | 231 | 85,949
| Depreciation |  |  |  |  |
| Charge for the period on owned assets | 2,956 | 3,433 | 1,982 | 37 | 8,408
| At 31 October 2024 | 2,956 | 3,433 | 1,982 | 37 | 8,408
| Net book value |  |  |  |  |
| At 31 October 2024 | 36,463 | 17,767 | 23,117 | 194 | 77,541
Page 6
KRAFT CHINESE FOOD SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024
5. | Debtors
|  |  |  |  | 2024
|  |  |  |  | £
| Trade debtors | 25,775
| Other debtors | 5,750
| Prepayments and accrued income | 17,374
|  | 48,899
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | £
| Trade creditors | 43,514
| Other taxation and social security | 80,918
| Other creditors | 15,572
| Accruals and deferred income | 6,651
|  | 146,655
7. | Deferred taxation
|  | 2024
|  | £
| Charged to profit or loss | (3,752)
| At end of year | (3,752)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2024
|  |  |  |  | £
| Accelerated capital allowances | (12,242)
| Tax losses carried forward | 8,447
| Pension surplus | 43
|  | (3,752)
Page 7
KRAFT CHINESE FOOD SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024
8. | Share capital
|  |  |  |  | 2024
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 100 Ordinary shares of £1.00 each | 100
100 Ordinary shares of £1.00 each were allotted on incorporation.
9. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £531 were payable to the fund at the balance sheet date and are included in creditors. 10.Other financial commitments The company had total commitments at the balance sheet date of £454,660.
11. | Related party transactions
| As at 31 October 2024 amounts were due to the director of £5,406. The loans are interest free and repayable on demand.
Page 8