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Registration number: 05587428

La Tua Pasta Limited
Annual Report and Financial Statements
for the Year Ended 31 March 2025

La Tua Pasta Limited

Contents

Company Information | 1
Strategic Report | 2
Directors' Report | 3
Statement of Directors' Responsibilities | 4
Independent Auditor's Report | 5 to 8
Profit and Loss Account | 9
Balance Sheet | 10
Statement of Changes in Equity | 11
Notes to the Financial Statements | 12 to 24

La Tua Pasta Limited

Company Information

Directors | N J Hanson J E Hanson

Registered office | Unit 4 Nucleus Park Central Way London NW10 7XT

Auditors | Sterlings Ltd Lawford House Albert Place London N3 1QA

La Tua Pasta Limited

Strategic Report for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

Principal activity

The principal activity of the company is that of the manufacture and sale of fresh pasta and related products.

Fair review of the business

Sales increased by 2% from the prior year as a result of increasing sales of ready meals as well as additional sales to M&S offset by lower export sales and sales direct to consumer which slowed after the effect of COVID. Profit before tax was £757,368 for the year, a substantial decrease compared to the £1,267,164 in 2024. The decrease in profit was as a result of increased overhead costs which increased across the board with employment costs up as a result of increased salaries, establishment costs up notably due to increased rents and increased general overheads offset by an increase in the gross profit percentage from 41% to 43%.
As at the balance sheet date the company had net assets of £1,162,092 compared with £849,987 as at 31 March 2024.
The company maintains a healthy liquidity position and has made significant capital investments in its manufacturing sites to allow it to have capacity to remain on a growth track, though these additional investments have caused depreciation to rise.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs | Unit | 2025 | 2024
Turnover | £ | 16,760,611 | 16,424,272
Gross Profit | % | 43 | 41

Principal risks and uncertainties

The company is subject to the fluctuation in commodity prices most notably for its major ingredients of flour and eggs. These can vary significantly and the company cannot always pass on increased costs in a timely fashion. The company is also exposed to fluctuations in the Pound-Euro exchange rate against which it conducts limited hedging operations. The enhanced costs on exporting to countries in the European Union and the changing documentation required by the French customs services at the port continue to cause additional costs and disruption in exports to the EU. Labour costs continue to rise and the increased employers national insurance costs are an additional cost factor. While overheads increased rapidly this year it is not expected that overheads will continue to rise as fast as management has taken steps to reduce overhead head count.

Future developments

The company looks to improve on the financial performance achieved during the year. The company's turnover and profits are expected to grow in the future and the directors continue to achieve exceptional food and services.

Approved and authorised by the Board on 1 October 2025 and signed on its behalf by:

......................................... J E Hanson Director

La Tua Pasta Limited

Directors' Report for the Year Ended 31 March 2025

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

Directors of the company

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

N J Hanson

J E Hanson

Dividends
Dividends of £500,000 were paid in the year (2024: £800,000).

Matters covered in the strategic report

As permitted by S414c(11) of the Companies Act 2006, the directors have elected to disclose information regarding future developments and risk exposure, required in the directors' report by Schedule 7 of the ' Large and Medium-sized Companies and Groups (Account and Reports) Regulations 2008', in the strategic report.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 1 October 2025 and signed on its behalf by:

......................................... J E Hanson Director

La Tua Pasta Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | 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 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.

La Tua Pasta Limited

Independent Auditor's Report to the Members of La Tua Pasta Limited

Opinion

We have audited the financial statements of La Tua Pasta Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, 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 March 2025 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 auditor 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 UK, including the FRC’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 original financial statements were 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.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

La Tua Pasta Limited

Independent Auditor's Report to the Members of La Tua Pasta Limited

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and 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 our 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 and the Directors' Report.

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 4, 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.

Auditor 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 auditor’s 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.

La Tua Pasta Limited

Independent Auditor's Report to the Members of La Tua Pasta Limited

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, skills, and capabilities to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant industry;
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, and other legislation;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where relevant; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions;
• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation;
• reading the minutes of meetings of those charged with governance;
• enquiring of management as to actual and potential litigation and claims; and
• reviewing correspondence with HM Revenue & Customs and relevant regulators.
There are inherent limitations in our audit procedures described above. The more remote that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

La Tua Pasta Limited

Independent Auditor's Report to the Members of La Tua Pasta Limited

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 auditor’s 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.

......................................
Stephen Fenton FCA (Senior Statutory Auditor)
For and on behalf of Sterlings Ltd, Statutory Auditor
Lawford House
Albert Place
London
N3 1QA

1 October 2025

La Tua Pasta Limited

Profit and Loss Account for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 16,760,611 | 16,424,272
Cost of sales |  | (9,633,313) | (9,702,694)
Gross profit |  | 7,127,298 | 6,721,578
Administrative expenses |  | (6,271,452) | (5,244,128)
Other operating income | 4 | - | 1,070
Operating profit | 6 | 855,846 | 1,478,520
Other interest receivable and similar income | 7 | 7,056 | 1,206
Interest payable and similar expenses | 8 | (105,534) | (212,562)
|  | (98,478) | (211,356)
Profit before tax |  | 757,368 | 1,267,164
Tax on profit | 12 | 54,737 | (280,560)
Profit for the financial year |  | 812,105 | 986,604

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

La Tua Pasta Limited

(Registration number: 05587428)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 13 | 1,360,475 | 1,115,454
Investments | 14 | 85 | 85
|  | 1,360,560 | 1,115,539
Current assets |  |  |
Stocks | 15 | 648,264 | 589,119
Debtors | 16 | 2,481,050 | 3,004,207
Cash at bank and in hand |  | 150,498 | 123,657
|  | 3,279,812 | 3,716,983
Creditors: Amounts falling due within one year | 18 | (2,966,818) | (2,881,230)
Net current assets |  | 312,994 | 835,753
Total assets less current liabilities |  | 1,673,554 | 1,951,292
Creditors: Amounts falling due after more than one year | 18 | (242,462) | (950,183)
Provisions for liabilities | 19 | (269,000) | (151,122)
Net assets |  | 1,162,092 | 849,987
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 1,161,992 | 849,887
Shareholders' funds |  | 1,162,092 | 849,987

Approved and authorised by the Board on 1 October 2025 and signed on its behalf by:

......................................... J E Hanson Director

La Tua Pasta Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

| Share capital £ | Profit and loss account £ | Total £
At 1 April 2024 | 100 | 849,887 | 849,987
Profit for the year | - | 812,105 | 812,105
Dividends | - | (500,000) | (500,000)
At 31 March 2025 | 100 | 1,161,992 | 1,162,092

| Share capital £ | Profit and loss account £ | Total £
At 1 April 2023 | 100 | 663,283 | 663,383
Profit for the year | - | 986,604 | 986,604
Dividends | - | (800,000) | (800,000)
At 31 March 2024 | 100 | 849,887 | 849,987

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 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:
Unit 4 Nucleus Park
Central Way
London
NW10 7XT
United Kingdom

These financial statements were authorised for issue by the Board on 1 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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

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 company's functional and presentational currency is Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

Summary of disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
• Section 3 Financial Statement Presentation paragraph 3.17(d) (inclusion of statement of cash flows);
• Section 7 Statement of Cash Flows (inclusion of statement of cash flows);
• Section 11 Financial Instruments paragraph 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c) (disclosures relating to financial instruments);
• Section 26 Share based payments (disclosures of share based payments); and
• Section 33 Related Party Disclosures paragraph 33.7 (disclosures of key management personnel compensation).

Group accounts not prepared

The company is a wholly-owned subsidiary of Banchory Holdings Limited, a company incorporated in England and Wales whose registered office is Unit 4, Nucleus Park, Central Way, London, NW10 7XT. In accordance with the exemptions given in Section 400 of the Companies Act 2006, the company is not required to produce, and has not published consolidated financial statements. The financial statements present information about the company as an individual entity and not about its group.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from
other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the
period of the revision and future periods where the revision affects both current and future period.
Estimates and assumptions have been used for the calculation of the useful economic lives of leasehold properties, fixtures, fittings and equipment and motor vehicles and provision of accruals. There were no estimates or assumptions that the directors deem to pose a significant risk of misstatement to the carrying amounts of assets and liabilities.

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 corporation 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.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

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
Leasehold land and buildings | straight line over the life of the lease
Plant and machinery | 15% straight line
Motor vehicles | 20% straight line
Fixtures and fittings | 25% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiary undertakings are recognised at cost less impairment.

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.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

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 | Turnover

The analysis of the company's revenue for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Sale of goods | 16,760,611 | 16,424,272

4 | Other operating income

The analysis of the company's other operating income for the year is as follows:

| 2025 £ | 2024 £
Miscellaneous other operating income | - | 1,070

5 | Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Gain/loss on disposal of property, plant and equipment | 628 | 6,105

6 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 428,083 | 376,247
Foreign exchange (gains)/losses | (4,773) | 724
Operating lease expense - property | 941,367 | 864,100
Operating lease expense - plant and machinery | 55,674 | 39,166
Profit on disposal of property, plant and equipment | (628) | (6,105)

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

7 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | - | 15
Other finance income | 7,056 | 1,191
| 7,056 | 1,206

8 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on bank overdrafts and borrowings | 102,615 | 188,440
Interest on obligations under finance leases and hire purchase contracts | 2,919 | 3,393
Other interest | - | 20,729
| 105,534 | 212,562

9 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 5,491,731 | 4,813,742
Social security costs | 518,212 | 463,681
Pension costs, defined contribution scheme | 98,796 | 88,813
Other employee expense | 32,011 | 30,844
| 6,140,750 | 5,397,080

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Administration and support | 176 | 178
| 176 | 178

10 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 90,000 | 125,000
Contributions paid to money purchase schemes | 2,700 | 2,250
| 92,700 | 127,250

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

11 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 14,014 | 13,436

12 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 79,912 | 227,030
UK corporation tax adjustment to prior periods | (252,527) | -
| (172,615) | 227,030
Deferred taxation |  |
Arising from changes in tax rates and laws | 117,878 | 53,530
Tax (receipt)/expense in the income statement | (54,737) | 280,560

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

The tax on profit before tax for the year is the standard rate of corporation tax in the UK(2024 - lower than the standard rate of corporation tax in the UK) of (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 757,368 | 1,267,164
Corporation tax at standard rate | 189,342 | 316,790
Tax decrease from effect of capital allowances and depreciation | (76,584) | (73,159)
Tax increase from other short-term timing differences | 117,878 | 53,530
Effect of expense not deductible in determining taxable profit (tax loss) | 4,893 | 8,104
Tax decrease arising from group relief | (37,739) | (24,705)
Tax decrease from effect of adjustment in research and development tax credit | (252,527) | -
Total tax (credit)/charge | (54,737) | 280,560

13 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 779,163 | 4,427,515 | 308,966 | 5,515,644
Additions | 106,529 | 558,575 | 8,000 | 673,104
Disposals | - | - | (18,822) | (18,822)
At 31 March 2025 | 885,692 | 4,986,090 | 298,144 | 6,169,926
Depreciation
At 1 April 2024 | 389,765 | 3,758,169 | 252,256 | 4,400,190
Charge for the year | 94,150 | 307,955 | 25,978 | 428,083
Eliminated on disposal | - | - | (18,822) | (18,822)
At 31 March 2025 | 483,915 | 4,066,124 | 259,412 | 4,809,451
Carrying amount
At 31 March 2025 | 401,777 | 919,966 | 38,732 | 1,360,475
At 31 March 2024 | 389,398 | 669,346 | 56,710 | 1,115,454

Included within the net book value of land and buildings above is £401,777 (2024 - £389,398) in respect of short leasehold land and buildings.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

| 2025 £ | 2024 £
Motor Vehicles | 11,910 | 47,341
Furniture, fittings and equipment | 90,057 | -
| 101,967 | 47,341

14 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 85 | 85

Subsidiaries | £
Cost or valuation
At 1 April 2024 | 85
Carrying amount
At 31 March 2025 | 85
At 31 March 2024 | 85

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
La Tua Pasta (Ireland) Limited | Coliemore House, Level 100, Dalkey, Co. Dublin Republic of Ireland | Ordinary shares | 100% | 100%

Subsidiary undertakings
La Tua Pasta (Ireland) Limited The principal activity of La Tua Pasta (Ireland) Limited is the import of pasta and sale to business clients.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

15 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 505,966 | 456,108
Other inventories | 142,298 | 133,011
| 648,264 | 589,119

16 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 1,237,792 | 1,568,769
Amounts owed by related parties | 25 | 681,268 | 996,151
Other debtors |  | 313,451 | 170,356
Prepayments |  | 248,539 | 268,931
|  | 2,481,050 | 3,004,207

17 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash on hand | 1,761 | 1,666
Cash at bank | 148,737 | 121,991
| 150,498 | 123,657

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

18 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 22 | 1,546,754 | 1,085,034
Trade creditors |  | 888,228 | 971,773
Social security and other taxes |  | 103,335 | 235,390
Outstanding defined contribution pension costs |  | 18,978 | 16,974
Other payables |  | 52,784 | 64,593
Accrued expenses |  | 339,827 | 280,436
Corporation tax | 12 | 16,912 | 227,030
|  | 2,966,818 | 2,881,230
Due after one year |  |  |
Loans and borrowings | 22 | 70,985 | 739,597
Other non-current financial liabilities |  | 171,477 | 210,586
|  | 242,462 | 950,183

19 | Provisions for liabilities

| Deferred tax £ | Total £
At 1 April 2024 | 151,122 | 151,122
Fixed asset timing differences | 117,878 | 117,878
At 31 March 2025 | 269,000 | 269,000

20 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £98,796 (2024 - £88,813). Contributions totalling £18,978 (2024 - £16,974) were payable to the scheme at the end of the year and are included in creditors.

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

21 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

22 | Loans and borrowings

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings | - | 720,000
HP and finance lease liabilities | 70,985 | 19,597
| 70,985 | 739,597

| 2025 £ | 2024 £
Current loans and borrowings
Bank borrowings | 1,523,739 | 1,069,017
HP and finance lease liabilities | 23,015 | 16,017
| 1,546,754 | 1,085,034

Bank borrowings

The company has a Coronavirus Business Interruption Loan denominated in £ which incurs interest at the base rate plus a margin of 4.25%. The final instalment is due on 11 February 2026. The carrying amount at year end is £720,000 (2024 - £1,440,000). The company has provided security to Allied Irish Bank and Santander UK Plc by way of fixed and floating charges over its assets.

23 | Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 23,015 | 16,017
Later than one year and not later than five years | 70,985 | 19,597
| 94,000 | 35,614

La Tua Pasta Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 599,250 | 480,000
Later than one year and not later than five years | 2,218,015 | 1,440,000
Later than five years | 397,151 | 1,357,151
| 3,214,416 | 3,277,151

The amount of non-cancellable operating lease payments recognised as an expense during the year was £968,236 (2024 - £864,100).

24 | Dividends

|  | 2025 |  | 2024
|  | £ |  | £
Interim dividend of £5,000.00 (2024 - £8,000.00) per ordinary share |  | 500,000 |  | 800,000

25 | Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 “Related Party Disclosures” from disclosing transactions with entities which are a wholly owned part of the group.

26 | Parent and ultimate parent undertaking

Controlling party
The ultimate parent company is Banchory Holdings Limited. In the opinion of the directors, there is no single ultimate controlling party.
The largest and smallest group for which group accounts are drawn up, and of which the company is a member, is Banchory Holdings Limited, whose registered office is Unit4 Nucleus Park, Central Way, London NW10 7XT. The consolidated financial statements for the company are available from Companies House, Crown Way, Cardiff CF14 3UZ.