| Soul Foods Limited |
| Notes to the Accounts |
| for the year ended 30 June 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
|
|
|
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| Other |
| investments |
| £ |
£ |
|
Fair Value |
|
At 1 July 2024 |
50,000 |
|
At 30 June 2024 |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 July 2024 |
35,459,575 |
|
At 30 June 2025 |
35,459,575 |
|
|
|
|
|
|
|
|
|
|
|
Included in historical cost is £35,409,575 relating to a non controlling stake in the Supernova Jersey |
|
Holdco Limited group. |
|
|
At the period end the directors have assessed the value of the investment for impairment. Based on |
|
the financial position of the group to which the investment relates, they have considered that the |
|
impairment provision of £35,409,575 is required. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
27,775,510 |
|
24,872,849 |
|
Other debtors |
17,212,248 |
|
17,322,176 |
|
|
|
|
|
|
44,987,758 |
|
42,195,025 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
27,775,510 |
|
24,872,849 |
|
|
|
|
|
|
|
|
|
|
|
The amounts due after more than one year by group undertakings and undertakings in which |
|
the company has a participating interest of £27,775,510 (2024 £24,872,849) represent preferred |
|
return certificates issued by Supernova UK Midco Limited, a subsidiary of the associated |
|
undertaking Supernova Jersey Holdco Limited, of £20,000,000 plus accumulated interest. |
|
Interest is charged at 11.67% and amounts are repayable in 2042 on the 20th anniversary of the |
|
issue date. |
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
298 |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
5,460,271 |
|
5,360,959 |
|
Taxation and social security costs |
1,576,751 |
|
1,620,261 |
|
Other creditors |
32,882 |
|
40,922 |
|
|
|
|
|
|
7,070,202 |
|
7,022,142 |
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
The company has taken advantage of the exemption available in section 33.1A of FRS 102 |
|
whereby it has not disclosed transactions with the ultimate parent company. |
|
|
Included within debtors is a balance of £272,243 (2024 £272,273) due from a company in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors is a balance of £23,596 (2024 £23,596) due from a company in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors is a balance of £1,331,574 (2024 £1,581,574) due from a company in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
Finance of £250,000 was repaid in the year. |
|
|
Included within debtors is a balance of £240,091 (2024 £240,091) due from a company in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors is a balance of £5,667,404 (2024 £5,667.404) due from a company in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors is a balance of £3,556,500 (2024 £3,556,500) due from a company in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors is a balance of £1,187,851 (2024 £1,187,851) due from a business in which |
|
a person with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors at the year end is £4,153,457 (2024 £3,989,612) in respect of the directors |
|
loan account. |
|
Interest of £104,727 has been charged in the year. |
|
|
Included within creditors is a balance of £32,882 (2024 £32,282) due to a business in which a person |
|
with significant influence has significant influence over Soul Foods Limited. |
|
|
Included within debtors is a balance due after more than one year of £27,775,510(2024 £24,272,849) |
|
due from a company in which a person with significant influence has significant influence over Soul |
|
Foods Limited. |
|
Interest of £2,902,661 has been charged in the year. |
|
|
|
|
|
| 7 |
Ultimate controlling party |
|
|
A Janmohamed remains the ultimate controlling party of Soul Foods Limited by virtue of his |
|
shareholding in the parent company Alma Limited, a company registered in Jersey. |
|
| 6 |
Other information |
|
|
Soul Foods Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
64 Wolsey Road |
|
Northwood |
|
Middlesex |
|
HA6 2EH |