TASTE_OF_THE_WEST_LIMITED - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Taste of the West Limited is a private company limited by shares incorporated in England and Wales. The registered office is Country House Estate, London Road, Whimple, Devon, EX5 2NL.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The directors and key management personnel have continued to carefully monitor the cash position of the company, particularly in light of the impacts on the business of the COVID pandemic. The company can meet its working capital requirements with the continued support from group companies, by making full use of the Government’s support schemes such as grants, loans and furlough scheme along with the use of an agreed overdraft facility if required. true

On this evidence, the directors consider it appropriate to prepare the financial statements on the going concern basis. The directors are positive that the company will continue to grow despite the impact of the Covid pandemic and the tough trading conditions resulting therefrom and are seeing positive results in the year to 30 June 2023, from which they expect to make a positive contribution.

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

All directors are non-executive. They do not receive emoluments for their services to the company. Expenses incurred in attending meetings of £nil (2021: £nil) were reimbursed during the year.

The average monthly number of persons (including directors) employed by the company during the year was:

The bank loan balance represents the current portion of the company's Bounce Back Loan which is backed by a government guarantee of 100%.

The bank loan balance represents the non-current portion of the company's Bounce Back Loan which is backed by a government guarantee of 100%.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: