Contents of the Financial Statements

for the Period Ended 1 October 2022

Directors' report period ended 1 October 2022

The directors present their report with the financial statements of the company for the period ended 1 October 2022

Directors

The directors shown below have held office during the period of
14 March 2022 to 1 October 2022

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 March 2023

And signed on behalf of the board by:
Name: Jean-Sebastien Leclerc
Status: Secretary

Profit And Loss Account

for the Period Ended 1 October 2022

Balance sheet

As at 1 October 2022

The notes form part of these financial statements

Balance sheet statements

For the year ending 1 October 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 1 October 2022

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover arises from the importation and distribution of breakfast cereals and cereal based foods and from activities undertaken wholly within the United Kingdom.

  Other accounting policies

  Basis of preparationThe financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.Liquidity resourcesLiquid resources comprise deposits held by recognised banks and building societies.Judgements and key sources of estimation uncertaintyThe preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Revenue recognitionTurnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.Income taxThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxTaxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Deferred taxDeferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is not discounted.Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.Current and deferred tax is charged or credited in profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income.Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.Going concernThe directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.Cash flow statement exemptionThe Company has availed of the small company exemptions in the Companies Act 2006 and has elected not to prepare a cash flow statement.

Notes to the Financial Statements

for the Period Ended 1 October 2022

• 2. Employees

  	2022	6 months to 2 October 2021
  Average number of employees during the period	1	1

  The aggregate payroll costs incurred during the year, relating to the above, were: Wages and salariesPeriod from incorporation to 1 October 2021 £ 11,383Year ended 2 October 2022 £58,400