Food Business Development Company Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04737081 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FOOD BUSINESS DEVELOPMENT COMPANY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S N Pieterse

REGISTERED OFFICE:

68 Park Street

St Albans

Hertfordshire

AL2 2PW

REGISTERED NUMBER:

04737081 (England and Wales)

ACCOUNTANTS:

KNIGHT WHEELER LIMITED

Chartered Accountants

54 Sun Street

Waltham Abbey

Essex

EN9 1EJ

FIXED ASSETS

Intangible assets

4

1

Tangible assets

5

1,464

2,310

1,465

2,311

CURRENT ASSETS

Debtors

6

12,629

7,474

Cash at bank and in hand

401

774

13,030

8,248

CREDITORS

Amounts falling due within one year

7

(147,252

)

(117,647

)

NET CURRENT LIABILITIES

(134,222

)

(109,399

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(132,757

)

(107,088

)

CAPITAL AND RESERVES

Called up share capital

50

Capital redemption reserve

50

Retained earnings

(132,857

)

(107,188

)

SHAREHOLDERS' FUNDS

(132,757

)

(107,088

)

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 director acknowledges her 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 director and authorised for issue on 22 December 2025 and were signed by:

Mrs S N Pieterse - Director

1.	STATUTORY INFORMATION

Food Business Development Company Ltd 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 principal activity of the company in the year under review was that of the provision of consultancy services to the food and catering industry.

The presentation currency of the financial statement is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five 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

-

at varying rates on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Research and development

Expenditure on research activities is recognised as an expense in the period in which it is incurred.

In the event that an internally generated intangible asset arises from the company's development activities then it will be recognised only if all of the following conditions are met:

* an asset is created that can be identified;

* the project from which the asset arises meets the company's criteria for assessing technical feasibility;

* it is probable that the asset created will generate future economic benefits; and

* the development cost of the asset can be measured reliably.

Internally generated intangible assets are amortised on a straight line basis over their useful lives. Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred.

Research and development expenditure capitalised in accordance with the above policy is written off over the expected life of the product developments from the point that commercial production of the relevant products commences.

Development costs - 10% straight line.

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.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and any short term deposits.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trading outlook

During the year, the company incurred significant bad debts which have impacted on the trading results for the year together with a challenging marketplace. However, the company has a range of long-established client relationships and the director believes that the company is well placed to manage its business risks successfully into 2025 and beyond.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Goodwill

costs

Totals

£

COST

At 1 April 2024

and 31 March 2025

61,600

135,866

197,466

AMORTISATION

At 1 April 2024

and 31 March 2025

61,600

135,865

197,465

NET BOOK VALUE

At 31 March 2025

-

1

At 31 March 2024

-

1

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

79,455

2,390

81,845

DEPRECIATION

At 1 April 2024

77,487

2,048

79,535

Charge for year

505

341

846

At 31 March 2025

77,992

2,389

80,381

NET BOOK VALUE

At 31 March 2025

1,463

1

1,464

At 31 March 2024

1,968

342

2,310

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

5,905

750

Tax

6,724

12,629

7,474

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

14,891

14,098

Trade creditors

15,234

18,190

Social security and other taxes

8,609

8,757

VAT

66,446

71,581

Other creditors

807

1,737

Credit cards

1,100

619

Directors' current accounts

37,400

-

Deferred income

645

Accrued expenses

2,120

2,020

147,252

117,647

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank overdrafts

14,891

14,098

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mrs S N Pieterse

Balance outstanding at start of year

-

5,930

Amounts repaid

-

(5,930

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-