Company No: 02744552 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	22,348		47,873
		22,348		47,873
Current assets
Stocks		42,617		30,317
Debtors	5	256,716		253,768
Cash at bank and in hand		1,101,899		561,672
		1,401,232		845,757
Creditors: amounts falling due within one year	6	( 779,681)		( 503,551)
Net current assets		621,551		342,206
Total assets less current liabilities		643,899		390,079
Provision for liabilities		( 734)		( 10,353)
Net assets		643,165		379,726
Capital and reserves
Called-up share capital	7	82		80
Share premium account		24,452		12,226
Capital redemption reserve		122		122
Profit and loss account		618,509		367,298
Total shareholders' funds		643,165		379,726

For the financial year ending 31 December 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Guild of Fine Food Limited (registered number: 02744552) were approved and authorised for issue by the Board of Directors on 08 April 2026. They were signed on its behalf by:

J R Farrand Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Guild of Fine Food Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 23b Kingsmead Business Park, Shaftesbury Road, Gillingham, SP8 5FB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Deferred income represents the fair value of services provided under contracts invoiced in the year that relate to future periods.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

5 - 10 years straight line

Other intangible assets

The directors still consider the value of publication rights to be £nil. Therefore an impairment provision was included in 2023.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Plant and machinery	5 - 6.7 years straight line
Vehicles	5 - 6.7 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	40		46

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 January 2025	209,081		209,081
At 31 December 2025	209,081		209,081
Accumulated amortisation
At 01 January 2025	209,081		209,081
At 31 December 2025	209,081		209,081
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	8,621		196,282		68,297		34,992		308,192
Additions	0		2,409		0		11,069		13,478
Disposals	0		0		( 47,347)		0		( 47,347)
At 31 December 2025	8,621		198,691		20,950		46,061		274,323
Accumulated depreciation
At 01 January 2025	2,586		186,631		44,624		26,478		260,319
Charge for the financial year	862		4,543		0		9,925		15,330
Disposals	0		0		( 23,674)		0		( 23,674)
At 31 December 2025	3,448		191,174		20,950		36,403		251,975
Net book value
At 31 December 2025	5,173		7,517		0		9,658		22,348
At 31 December 2024	6,035		9,651		23,673		8,514		47,873

5. Debtors

	2025		2024
	£		£
Trade debtors	171,086		199,908
Other debtors	85,630		53,860
	256,716		253,768

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	101,594		98,007
Taxation and social security	183,707		89,467
Other creditors	494,380		316,077
	779,681		503,551

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
82 Ordinary shares of £ 1.00 each (2024: 80 shares of £ 1.00 each)	82		80

2 ordinary shares of £1 each are issued at a share premium of £6,113 each on 27 March 2025 under EMI scheme.

8. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £497,771 (2024 - £132,000). The financial commitments are in the form of non-cancellable operating leases of which £163,882 (2024 - £56,000) is due within one year.

9. Off Balance Sheet arrangements

**Enterprise management incentives Scheme**

During the year ended 31 December 2024, the Company granted 5 EMI share options each to two employees, under its HMRC‑approved Enterprise Management Incentive scheme. The options vest over a seven‑year service period, accruing at one share per year over the first five years, or earlier on a substantial disposal event, which is considered unlikely.

Each employee exercised one vested option during 2024, resulting in the issue of one ordinary share each. A further one vested option per employee was exercised in this accounting period, also resulting in the issue of one ordinary share each at the respective exercise price.

The impact of the EMI scheme on the financial statements is considered immaterial, and accordingly no share‑based payment charge has been recognised for the year. The Company has applied FRS 102 Section 26, including the transitional exemption available for share‑based payments.

At 31 December 2025, 6 EMI options remained outstanding under the scheme.