REGISTERED NUMBER: 05331381 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NICHE FOODS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr SA Noray

Mrs A Noray

Mr D Noray

SECRETARY:

Mrs A Noray

REGISTERED OFFICE:

Meridian West

Meridian Business Park

Leicester

LE19 1WX

REGISTERED NUMBER:

05331381 (England and Wales)

FIXED ASSETS

Intangible assets

4

612

919

Tangible assets

5

112,890

17,408

Investments

6

50,015

50,015

163,517

68,342

CURRENT ASSETS

Stocks

50,265

44,193

Debtors

7

1,695,046

1,686,256

Cash at bank and in hand

1,008,823

786,608

2,754,134

2,517,057

CREDITORS

Amounts falling due within one year

8

1,234,701

1,435,021

NET CURRENT ASSETS

1,519,433

1,082,036

TOTAL ASSETS LESS CURRENT LIABILITIES

1,682,950

1,150,378

CREDITORS

Amounts falling due after more than one year

9

(2,630

)

(13,065

)

PROVISIONS FOR LIABILITIES

(28,223

)

(6,095

)

NET ASSETS

1,652,097

1,131,218

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12

1,651,997

1,131,118

SHAREHOLDERS' FUNDS

1,652,097

1,131,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

Mr SA Noray - Director

1.	STATUTORY INFORMATION

Niche Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Revenue comprises the fair value for the sale of goods excluding value added tax and represents net invoice value less rebates, returns and settlement discount.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods. It also includes income from consultancy and this is recognised when the service is undertaken.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors

Short term trade 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

1,533

AMORTISATION

At 1 April 2024

614

Charge for year

307

At 31 March 2025

921

NET BOOK VALUE

At 31 March 2025

612

At 31 March 2024

919

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

2,000

12,623

22,451

18,402

55,476

Additions

-

91,975

-

16,051

108,026

At 31 March 2025

2,000

104,598

22,451

34,453

163,502

DEPRECIATION

At 1 April 2024

1,434

6,851

18,232

11,551

38,068

Charge for year

85

7,199

1,055

4,205

12,544

At 31 March 2025

1,519

14,050

19,287

15,756

50,612

NET BOOK VALUE

At 31 March 2025

481

90,548

3,164

18,697

112,890

At 31 March 2024

566

5,772

4,219

6,851

17,408

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

50,015

NET BOOK VALUE

At 31 March 2025

50,015

At 31 March 2024

50,015

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,412,423

1,410,505

Other debtors

282,623

275,751

1,695,046

1,686,256

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,441

10,183

Trade creditors

1,157,718

1,163,664

Amounts owed to group undertakings

1,174

-

Taxation and social security

57,848

252,288

Other creditors

7,520

8,886

1,234,701

1,435,021

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,630

13,065

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

42,057

-

Between one and five years

73,982

-

116,039

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

13,071

23,248

Bank loan secured by fixed and floating charges. Floating charge covers all the property or undertaking of the company.

12.

RESERVES

Retained

earnings

£

At 1 April 2024

1,131,118

Profit for the year

670,879

Dividends

(150,000

)

At 31 March 2025

1,651,997

13.	CAPITAL COMMITMENTS

As at 31 March 2025, the company had capital commitments of £98,310 (2024: £Nil) relating to the acquisition of a new motor vehicle. These commitments were contracted but not provided for in the financial statements.

14.	PENSION COMMITMENTS

The company operates a defined contribution scheme, during the year this amounted to £124,140 (2024 :£282,892), at the year end there was £Nil (2024: £548) outstanding.

15.	RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £Nil (2024: £275).

At the year end, the company was owed £150,006 from Niche Bakery Ltd, a company in which a director is also a shareholder.

No interest was charged on the above balances.

16.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Niche Group Holdings Limited. The registered office address and the principal place of business of Niche Group Holdings Limited is Meridian West, Meridian Business Park, Leicester, England, LE19 1WX..

The company is the subsidiary undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.