Registration number: 12033429

Wedge Foods Limited

Directors' Report
for the year ended 31 January 2025

The directors present their report and the financial statements for the year ended 31 January 2025.

Directors of the company

The directors who held office during the year were as follows:

D J Connolly

V Connolly

Principal activity

The principal activity of the company is selling fish products.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 October 2025 and signed on its behalf by:
 

......................................... D J Connolly Director

Wedge Foods Limited

(Registration number: 12033429)
Statement of Financial Position
31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	245	27,053
Current assets
Stocks	5	-	242,999
Debtors	6	68,268	267,128
Cash at bank and in hand		32,010	536,258
		100,278	1,046,385
Creditors: Amounts falling due within one year	7	(24,245)	(67,504)
Net current assets		76,033	978,881
Total assets less current liabilities		76,278	1,005,934
Creditors: Amounts falling due after more than one year	7	(242)	(675,658)
Provisions for liabilities		(47)	(5,140)
Net assets		75,989	325,136
Capital and reserves
Called up share capital		100	100
Retained earnings		75,889	325,036
Shareholders' funds		75,989	325,136

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Wedge Foods Limited

(Registration number: 12033429)
Statement of Financial Position
31 January 2025

These financial statements have been 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 30 October 2025 and signed on its behalf by:
 

......................................... D J Connolly Director

Wedge 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:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
England

These financial statements were authorised for issue by the Board on 30 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.

Going concern

The financial statements have been prepared on a going concern basis.

Wedge Foods Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2025

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Wedge Foods Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2025

Tangible assets

Tangible assets are stated in the statement of financial position 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:

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 merchandise 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.

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.

Wedge Foods Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2025

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Wedge Foods Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2024	1,729	35,580	37,309
Disposals	-	(35,580)	(35,580)
At 31 January 2025	1,729	-	1,729
Depreciation
At 1 February 2024	620	9,636	10,256
Charge for the year	864	-	864
Eliminated on disposal	-	(9,636)	(9,636)
At 31 January 2025	1,484	-	1,484
Carrying amount
At 31 January 2025	245	-	245
At 31 January 2024	1,109	25,944	27,053

5

Stocks

	2025 £	2024 £
Other inventories	-	242,999

6

Debtors

Current	2025 £	2024 £
Trade debtors	62,434	247,758
Prepayments	-	1,076
Other debtors	5,834	18,294
	68,268	267,128

Wedge Foods Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	24,110	12,017
Taxation and social security	-	55,447
Other creditors	135	40
	24,245	67,504

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other non-current financial liabilities	242	675,658