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Registration number: 07433255

Ideal Nutritional Foods Limited
Filleted Financial Statements
for the Year Ended 31 December 2025

Ideal Nutritional Foods Limited

Contents

Statement of Financial Position | 1
Notes to the Financial Statements | 2 to 6

Ideal Nutritional Foods Limited

(Registration number: 07433255)
Statement of Financial Position as at 31 December 2025

| Note | 31 December 2025 £ | 31 December 2024 £
Current assets |  |  |
Stocks | 4 | 876,023 | -
Debtors | 5 | 1,275,648 | 1,238,243
Cash at bank and in hand |  | 469,547 | 289,055
|  | 2,621,218 | 1,527,298
Creditors: Amounts falling due within one year | 6 | (2,336,757) | (1,472,037)
Net assets |  | 284,461 | 55,261
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Profit and loss account |  | 283,461 | 54,261
Shareholders' funds |  | 284,461 | 55,261

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:

......................................... M McEllone Director |  |

Ideal Nutritional Foods Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
The Courtyard
Trewolland
Liskeard
Cornwall
PL14 3BD

Principal activity

The principal activity of the company is wholesale of food including fish and crustaceans.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Ideal Nutritional Foods Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 31 March 2026 was Veronique Constantine, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Turnover

Revenue - described as turnover - is the value of goods (net of VAT) provided to customers during the year.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Foreign currency transactions and balances

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Tax

The tax expense for the period comprises current 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Ideal Nutritional Foods Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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 statement of comprehensive income 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.

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

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Ideal Nutritional Foods Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

4 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 876,023 | -

5 | Debtors

| 31 December 2025 £ | 31 December 2024 £
Trade debtors | 948,926 | 580,488
Other debtors | 326,722 | 657,755
| 1,275,648 | 1,238,243

6 | Creditors

Creditors: amounts falling due within one year

| 31 December 2025 £ | 31 December 2024 £
Loans and borrowings | 1,944,518 | -
Trade creditors | 163,864 | -
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 91,802 | 1,428,773
Taxation and social security | - | 7,186
Accruals | 126,494 | 36,078
Other creditors | 10,079 | -
| 2,336,757 | 1,472,037

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

Ideal Nutritional Foods Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank overdrafts | 1,944,518 | -

9 | Ultimate controlling party

The ultimate controlling company is Pelagia Holding AS, who's registered office is Bradbenken 1 5003, Bregen, Vestland, Norway.

10 | Immediate parent

The immediate parent company is Ideal Foods Limited, who's registered office is The Courtyard, Trewolland, Liskeard, Cornwall, PL14 3NL.