Fountain Foods Limited - Limited company accounts 23.2

REGISTERED NUMBER: 03224610 (England and Wales)

Fountain Foods Limited

Strategic Report, Directors' Report and

Financial Statements

for the Year Ended 30 November 2022

Page

Company information

1

Strategic report

2

Directors' report

3

to

4

Report of the independent auditors

5

to

8

Statement of income and retained earnings

9

Statement of financial position

10

Statement of cash flows

11

Notes to the statement of cash flows

12

Notes to the financial statements

13

to

21

Directors:

J Lawrence

K Lawrence

Registered office:

New Road

Upwell

Wisbech

Cambridgeshire

PE14 9AB

Registered number:

03224610 (England and Wales)

Auditors:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The directors present their strategic report for the year ended 30 November 2022.

We aim to present a balanced and comprehensive report of the development and performance of our business during the year and its position at the year end. Our report is consistent with the size and non complex nature of our business and is written in the context of the risks and uncertainties we face.

Review of business

The companys activities continue to involve the processing and sale of chilled, long life and frozen vegetables.

Market conditions continue to be tough due to the external financial market place, there is a continued drive for the best produce at the lowest prices. The company continues to balance the lower margins with higher expectations by investing in people and equipment to continually improve efficiency. The company continues to look for opportunities in the market to expand the business and add additional product lines.

Principal risks and uncertainties

As for many businesses of our size, the economic climate in which we operate will have an impact on the company's operations for the forthcoming period.

Raw material prices are dictated by the growing season which affects availability of product, where possible the company fixes the required tonnages at a fixed price to protect margin for contracts.

During the year the company started to see the impact of rising inflation in all aspects of the business, this caused an increase in the cost base but also reduce the ability to fix long term contracts of products meaning that our margin on contracts was squeezed and the business has had to go back to customers to renegotiate sales prices to reflect the new prices. We expect this process to be ongoing for the next few years until the inflation settles down.

The Coronavirus Pandemic hit the UK in March 2020 and led to the shut down of the majority of the UK economy, with numerous countrywide lockdowns throughout the year and since the year end. Due to the line of our business being food, demand for our products has remained unchanged. We have put in place various new procedures to protect our staff and ensure the production of our products remain at the high standard that we expect.

Development and performance

We continue to look to diversify in the market by bringing variations of existing products to the market and also developing new product lines that sit along side and compliment our current range.

The directors are confident that the business is well placed to continue taking advantage of opportunities as they arise and planning for longer term product innovation.

Financial key performance indicators

The company uses a number of financial measures to monitor progress against its aims and objectives. These include, turnover, gross profit and net profit.

On behalf of the board:

K Lawrence - Director

15 August 2023

The directors present their report with the financial statements of the company for the year ended 30 November 2022.

Dividends

Particulars of recommended dividends are detailed in note 8 to the financial statements.

Directors

The directors shown below have held office during the whole of the period from 1 December 2021 to the date of this report.

J Lawrence

K Lawrence

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

Each of the persons who is a director at the date of approval of this report confirms that:

-

so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and

-

audit information and to establish that the company's auditor is aware of that information.they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant

On behalf of the board:

K Lawrence - Director

15 August 2023

Opinion

We have audited the financial statements of Fountain Foods Limited (the 'company') for the year ended 30 November 2022 which comprise the Statement of income and retained earnings, Statement of financial position, Statement of cash flows and Notes to the statement of cash flows, Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 November 2022 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic report and the Directors' report, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of directors' responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including such as the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims;

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Hildred (Senior Statutory Auditor)

for and on behalf of Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

16 August 2023

Turnover

15,700,037

14,303,743

Cost of sales

11,560,675

9,653,006

Gross profit

4,139,362

4,650,737

Administrative expenses

4,428,218

4,747,466

(288,856

)

(96,729

)

Other operating income

441,864

282,429

Operating profit

5

153,008

185,700

Interest receivable and similar income

1,482

5,451

154,490

191,151

Interest payable and similar expenses

6

13,336

14,329

Profit before taxation

141,154

176,822

Tax on profit

7

(135,814

)

28,031

Profit for the financial year

276,968

148,791

Retained earnings at beginning of year

2,201,244

2,086,078

Dividends

8

(53,620

)

(33,625

)

Retained earnings at end of year

2,424,592

2,201,244

Fixed assets

Tangible assets

9

1,673,025

1,803,715

Current assets

Stocks

10

838,991

688,379

Debtors

11

3,645,394

3,795,505

Cash at bank and in hand

521,368

576,981

5,005,753

5,060,865

Creditors

Amounts falling due within one year

12

3,917,708

4,308,701

Net current assets

1,088,045

752,164

Total assets less current liabilities

2,761,070

2,555,879

Creditors

Amounts falling due after more than one year

13

(118,005

)

(275,867

)

Provisions for liabilities

15

(187,523

)

(47,818

)

Net assets

2,455,542

2,232,194

Capital and reserves

Called up share capital

16

1,850

1,850

Share premium

17

29,025

29,025

Capital redemption reserve

17

75

75

Retained earnings

17

2,424,592

2,201,244

Shareholders' funds

2,455,542

2,232,194

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by:

K Lawrence - Director

Cash flows from operating activities

Cash generated from operations

1

364,858

(88,445

)

Interest paid

-

(386

)

Interest element of hire purchase payments paid

(13,336

)

(13,943

)

Tax paid

95,520

(255

)

Net cash from operating activities

447,042

(103,029

)

Cash flows from investing activities

Purchase of tangible fixed assets

(612,483

)

(1,051,252

)

Sale of tangible fixed assets

262,188

3,000

Interest received

1,482

5,451

Net cash from investing activities

(348,813

)

(1,042,801

)

Cash flows from financing activities

New loans in year

-

238,064

Capital repayments in year

(138,874

)

-

Amount withdrawn by directors

-

(550

)

Grant income

38,652

38,341

Equity dividends paid

(53,620

)

(33,625

)

Net cash from financing activities

(153,842

)

242,230

Decrease in cash and cash equivalents

(55,613

)

(903,600

)

Cash and cash equivalents at beginning of year

2

576,981

1,480,581

Cash and cash equivalents at end of year

2

521,368

576,981

1.	Reconciliation of profit before taxation to cash generated from operations

2022

2021

£

£

Profit before taxation

141,154

176,822

Depreciation charges

489,372

539,673

(Profit)/loss on disposal of fixed assets

(8,388

)

807

Government grants

(38,652

)

(38,341

)

Finance costs

13,336

14,329

Finance income

(1,482

)

(5,451

)

595,340

687,839

Increase in stocks

(150,612

)

(277,256

)

Decrease/(increase) in trade and other debtors

330,110

(1,190,314

)

(Decrease)/increase in trade and other creditors

(409,980

)

691,286

Cash generated from operations

364,858

(88,445

)

2.	Cash and cash equivalents

The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

Year ended 30 November 2022

30.11.22

1.12.21

£

£

Cash and cash equivalents

521,368

576,981

Year ended 30 November 2021

30.11.21

1.12.20

£

£

Cash and cash equivalents

576,981

1,480,581

3.	Analysis of changes in net funds

At 1.12.21

Cash flow

At 30.11.22

£

£

£

Net cash

Cash at bank and in hand

576,981

(55,613

)

521,368

576,981

(55,613

)

521,368

Debt

Finance leases

(337,661

)

138,874

(198,787

)

(337,661

)

138,874

(198,787

)

Total

239,320

83,261

322,581

1.	Statutory information

Fountain Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The 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 recognition

Turnover 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property

- 10% straight line

Plant and machinery

- 25% reducing balance

Motor vehicles

- 25% reducing balance

Freehold land and property

- not depreciated

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks 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.

Financial instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Defined contribution plans

The company operates a defined contribution pension scheme for the benefit of a director.The assets of the scheme are administered by trustees in funds independent from those of the company. The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to the Profit and Loss Account by equal annual instalments over the expected useful lives of the relevant assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	Employees and directors

2022

2021

£

£

Wages and salaries

2,670,793

2,093,088

Social security costs

276,196

200,003

Other pension costs

116,769

88,780

3,063,758

2,381,871

The average number of employees during the year was as follows:

2022

2021

Production staff

81

72

Administrative staff

6

11

Number of directors

1

1

88

84

2022

2021

£

£

Directors' remuneration

85,924

74,412

5.	Operating profit

The operating profit is stated after charging/(crediting):

2022

2021

£

£

Depreciation - owned assets

489,373

539,673

(Profit)/loss on disposal of fixed assets

(8,388

)

807

Auditors' remuneration

8,500

8,500

6.

Interest payable and similar expenses

2022

2021

£

£

Bank interest

-

386

Hire purchase interest

13,336

13,943

13,336

14,329

7.

Taxation

Analysis of the tax (credit)/charge

The tax (credit)/charge on the profit for the year was as follows:

2022

2021

£

£

Current tax:

UK corporation tax

47,228

(63,177

)

Over provision in prior year

(322,747

)

5,358

Total current tax

(275,519

)

(57,819

)

Deferred tax

139,705

85,850

Tax on profit

(135,814

)

28,031

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2022

2021

£

£

Profit before tax

141,154

176,822

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2021 - 19%)

26,819

33,596

Effects of:

Expenses not deductible for tax purposes

23,735

9,120

Capital allowances in excess of depreciation

-

(128,096

)

Depreciation in excess of capital allowances

18,878

-

Utilisation of tax losses

(22,204

)

22,203

Movement in deferred tax

139,705

85,850

Over provision in prior period

(322,747

)

5,358

Total tax (credit)/charge

(135,814

)

28,031

8.

Dividends

2022

2021

£

£

Non-equity shares of £1 each

Dividends paid

53,620

33,625

9.	Tangible fixed assets

Freehold

Long

Plant and

Motor

land

leasehold

machinery

vehicles

Totals

£

£

£

£

£

Cost

At 1 December 2021

50,000

1,480,885

3,635,361

379,199

5,545,445

Additions

-

9,250

596,983

6,250

612,483

Disposals

-

(281,143

)

(779,309

)

(7,000

)

(1,067,452

)

At 30 November 2022

50,000

1,208,992

3,453,035

378,449

5,090,476

Depreciation

At 1 December 2021

-

1,155,822

2,324,271

261,637

3,741,730

Charge for year

-

26,704

431,891

30,778

489,373

Eliminated on disposal

-

(200,903

)

(606,450

)

(6,299

)

(813,652

)

At 30 November 2022

-

981,623

2,149,712

286,116

3,417,451

Net book value

At 30 November 2022

50,000

227,369

1,303,323

92,333

1,673,025

At 30 November 2021

50,000

325,063

1,311,090

117,562

1,803,715

10.

Stocks

2022

2021

£

£

Raw materials and consumables

838,991

688,379

11.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

2,707,011

2,544,897

Amounts owed by related

parties

368,141

988,609

Corporation tax

277,001

97,002

VAT

174,562

98,694

Prepayments and accrued income

118,679

66,303

3,645,394

3,795,505