FOOD_INGREDIENTS_INTERNAT - Accounts

The directors present their annual report and financial statements for the year ended 31 December 2022.

The company ceased trading on 16 April 2014.

No dividends will be distributed for the year ended 31 December 2022.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Food Ingredients International Limited for the year ended 31 December 2022 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Food Ingredients International Limited, as a body, in accordance with the terms of our engagement letter dated 3 March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Food Ingredients International Limited and state those matters that we have agreed to state to the Board of Directors of Food Ingredients International Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Food Ingredients International Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Food Ingredients International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Food Ingredients International Limited. You consider that Food Ingredients International Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Food Ingredients International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Food Ingredients International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Lower Teme Business Park, Ludlow Road, Burford, Tenbury Wells, Worcestershire, United Kingdom, WR15 8SZ.

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 have been prepared under the historical cost convention.

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

The company has taken advantage of the exemption, available under paragraphs 1.11 and 1.12 of the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", from the requirements of Section 7 Statement of Cash Flows.

The company ceased to trade on 16 April 2014 and has been dormant since that date. As a result the financial statements are not prepared on a going concern basis. In preparing the financial statements on an alternate basis, the directors have continued to apply the requirements of FRS 102 taking into account that the company is not expected to continue as a going concern for the foreseeable future. true

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

There was no staff costs for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Amounts are due from the immediate parent company and are not interest bearing.

The immediate parent company is Orchard Valley Foods Limited, a company registered in England and Wales. The ultimate controlling party is Orkla ASA, a company registered in Norway.