Registration number: 07224479

The Fresh Pasta Company Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

The Fresh Pasta Company Limited

Company Information

Directors

Mark Patrick Garcia-Oliver Andrea Zavaglia

Registered office

17-19 Armstrong Way Southall UB2 4SD

Accountants

Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL

The Fresh Pasta Company Limited

(Registration number: 07224479)
Balance Sheet as at 31 December 2024

	Note	31 December 2024 £	31 December 2023 £
Fixed assets
Intangible assets	4	391,395	391,395
Tangible assets	5	3,707,614	1,381,859
		4,099,009	1,773,254
Current assets
Stocks	6	275,970	157,608
Debtors	7	1,043,749	989,063
Cash at bank and in hand		19,342	65,776
		1,339,061	1,212,447
Creditors: Amounts falling due within one year	8	(3,363,379)	(2,001,296)
Net current liabilities		(2,024,318)	(788,849)
Total assets less current liabilities		2,074,691	984,405
Creditors: Amounts falling due after more than one year	8	(1,289,391)	(345,726)
Provisions for liabilities		(415,323)	(297,085)
Net assets		369,977	341,594
Capital and reserves
Called up share capital	9	353	353
Retained earnings		369,624	341,241
Shareholders' funds		369,977	341,594

For the financial year ending 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:

•	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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

The Fresh Pasta Company Limited

(Registration number: 07224479)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 5 December 2025 and signed on its behalf by:
 

......................................... Mark Patrick Garcia-Oliver Director

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
17-19 Armstrong Way
Southall
UB2 4SD
England

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.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 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.

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
Plant & machinery	10% straight line basis
Office equipment	33% straight line basis
Leaseholder improvements	10% straight line basis

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Asset class	Amortisation method and rate
Goodwill	Not amortised but tested for impairment annually

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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.

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.

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other debtors and creditors.

Debt intruments that are payable or receivable withing one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash consideration espected to be paid or received.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 25).

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Contractual customer relationships  £	Total £
Cost or valuation
At 1 January 2024	385,242	6,153	391,395
At 31 December 2024	385,242	6,153	391,395
Amortisation
Carrying amount
At 31 December 2024	385,242	6,153	391,395
At 31 December 2023	385,242	6,153	391,395

5	Tangible assets

	Furniture, fittings and equipment  £	Leaseholder improvements  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	33,484	231,157	1,343,020	1,607,661
Additions	12,604	335,597	2,050,580	2,398,781
At 31 December 2024	46,088	566,754	3,393,600	4,006,442
Depreciation
At 1 January 2024	25,159	22,801	177,842	225,802
Charge for the year	7,276	5,992	59,758	73,026
At 31 December 2024	32,435	28,793	237,600	298,828
Carrying amount
At 31 December 2024	13,653	537,961	3,156,000	3,707,614
At 31 December 2023	8,325	208,356	1,165,178	1,381,859

6

Stocks

	31 December 2024 £	31 December 2023 £
Other inventories	275,970	157,608

The Fresh Pasta Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

	31 December 2024 £	31 December 2023 £
Trade debtors	442,335	372,016
Prepayments	157,064	56,283
Other debtors	444,350	560,764
	1,043,749	989,063

 

8

Creditors

Creditors: amounts falling due within one year

	Note	31 December 2024 £	31 December 2023 £
Due within one year
Loans and borrowings	10	767,964	278,958
Trade creditors		1,940,416	1,530,193
Taxation and social security		8,182	14,470
Accruals and deferred income		3,850	30,268
Other creditors		642,967	147,407
		3,363,379	2,001,296