REGISTERED NUMBER: 11728863 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

HONESTLY TASTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss B L Moore

M Moore

Veg Capital Ltd

REGISTERED OFFICE:

40 Borden Avenue

Enfield

Middlesex

EN1 2BY

REGISTERED NUMBER:

11728863 (England and Wales)

ACCOUNTANTS:

Cook & Partners Limited

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Intangible assets

4

2,000

2,500

Tangible assets

5

330,587

418,684

332,587

421,184

CURRENT ASSETS

Stocks

6

71,114

75,993

Debtors

7

560,243

505,196

Cash at bank

11,815

8,611

643,172

589,800

CREDITORS

Amounts falling due within one year

8

419,594

359,873

NET CURRENT ASSETS

223,578

229,927

TOTAL ASSETS LESS CURRENT LIABILITIES

556,165

651,111

CREDITORS

Amounts falling due after more than one year

9

452,241

196,427

NET ASSETS

103,924

454,684

CAPITAL AND RESERVES

Called up share capital

2

2

Share premium

2,185,904

2,185,904

Retained earnings

(2,081,982

)

(1,731,222

)

103,924

454,684

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th December 2025 and were signed on its behalf by:

M Moore - Director

1.	STATUTORY INFORMATION

Honestly Tasty 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.

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.

Going Concern Justification

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st March 2025 have been prepared using the going concern basis of accounting.

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 2019, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

5,000

AMORTISATION

At 1st April 2024

2,500

Amortisation for year

500

At 31st March 2025

3,000

NET BOOK VALUE

At 31st March 2025

2,000

At 31st March 2024

2,500

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st April 2024

138,063

511,192

19,250

Additions

-

40,575

2,095

At 31st March 2025

138,063

551,767

21,345

DEPRECIATION

At 1st April 2024

9,496

262,157

9,944

Charge for year

2,762

108,542

4,134

At 31st March 2025

12,258

370,699

14,078

NET BOOK VALUE

At 31st March 2025

125,805

181,068

7,267

At 31st March 2024

128,567

249,035

9,306

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2024

44,835

2,996

716,336

Additions

-

-

42,670

At 31st March 2025

44,835

2,996

759,006

DEPRECIATION

At 1st April 2024

13,766

2,289

297,652

Charge for year

14,930

399

130,767

At 31st March 2025

28,696

2,688

428,419

NET BOOK VALUE

At 31st March 2025

16,139

308

330,587

At 31st March 2024

31,069

707

418,684

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st April 2024

and 31st March 2025

277,463

44,835

322,298

DEPRECIATION

At 1st April 2024

138,976

13,766

152,742

Charge for year

55,492

14,930

70,422

At 31st March 2025

194,468

28,696

223,164

NET BOOK VALUE

At 31st March 2025

82,995

16,139

99,134

At 31st March 2024

138,487

31,069

169,556

6.

STOCKS

2025

2024

£

£

Stocks

71,114

75,993

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

88,444

71,389

Other debtors

12,619

12,120

VAT

-

4,394

Deferred tax asset

459,180

387,143

Prepayments

-

30,150

560,243

505,196

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

5,662

12,896

Other loans (see note 10)

172,580

165,222

Hire purchase contracts

37,197

47,446

Trade creditors

41,005

44,795

Social security and other taxes

8,647

7,195

VAT

6,592

-

Other creditors

84,359

62,145

Directors' current accounts

5,156

7,674

Accrued expenses

58,396

12,500

419,594

359,873

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

17,633

13,113

Other loans (see note 10)

415,866

126,233

Hire purchase contracts

18,742

57,081

452,241

196,427

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

5,662

12,896

Other loans

172,580

165,222

178,242

178,118

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,325

10,440

Amounts falling due between two and five years:

Bank loans - 2-5 years

7,308

2,673

Other loans - 2-5 years

415,866

126,233

423,174

128,906

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

55,939

104,527

Hire purchase contracts are secured on the tangible fixed assets to which they relate.

12.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £119,761 (2024: £119,761)