Atsource Foods Limited - Accounts

Atsource Foods Limited - Accounts

ATSOURCE FOODS LIMITED - Company Information

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Logo On Report
Registered Number: 04772374
England and Wales

 

 

 

ATSOURCE FOODS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

Atsource Foods Limited
Contents Page
For the year ended 31 March 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Atsource Foods Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Atsource Foods Limited for the year ended 31 March 2023 which comprise of the Profit and Loss Account, 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.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Atsource Foods Limited , as a body, in accordance with the terms of our engagement letter dated 12 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of Atsource Foods Limited and state those matters that we have agreed to state to the Board of Directors of Atsource Foods Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Atsource Foods Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Atsource Foods Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Atsource Foods Limited . You consider that Atsource Foods 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 accounts of Atsource Foods 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 accounts
31 March 2023



....................................................
Boffix & Co Accountancy Limited
St Alban Tower
Wood Street
London
EC2V 7AF
12 December 2023
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 24,242    47,633 
Investments 4 511,025    11,050 
535,267    58,683 
Current assets      
Debtors: amounts falling due within one year 0    94,003 
Cash at bank and in hand 113,415    298,796 
113,415    392,799 
Creditors: amount falling due within one year (252,055)   (248,239)
Net current liabilities (138,640)   144,560 
 
Total assets less current liabilities 396,627    203,243 
Creditors: amount falling due after more than one year (170,600)   (194,600)
Provisions for liabilities (4,606)   (220)
Net assets 221,421    8,423 
 

Capital and reserves 		     
Called up share capital 5 1,000    1,000 
Profit and loss account 220,421    7,423 
Shareholder's funds 221,421    8,423 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 12 December 2023 and were signed by:


-------------------------------
James Sheppard
Director
2
General Information
Atsource Foods Limited is a private company, limited by shares, registered in England and Wales, registration number 04772374, registration address Wesley House, Bull Hill, Leatherhead, Surrey, KT22 7AH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Straight Line
Office Equipment 33% Straight Line
Computer Equipment 33% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Office Equipment   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 98,271    2,631    16,025    116,927 
Additions -    -    2,095    2,095 
Disposals -    -    -    - 
At 31 March 2023 98,271    2,631    18,120    119,022 
Depreciation
At 01 April 2022 52,663    2,631    14,000    69,294 
Charge for year 24,568    -    918    25,486 
On disposals -    -    -    - 
At 31 March 2023 77,231    2,631    14,918    94,780 
Net book values
Closing balance as at 31 March 2023 21,040    -    3,202    24,242 
Opening balance as at 01 April 2022 45,608    -    2,025    47,633 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2022 104,615    104,615 
Additions 406,435    406,435 
Transfer to/from tangible fixed assets 0    0 
Disposals (25)   (25)
At 31 March 2023 511,025    511,025 

5.

Share Capital

Allotted, called up and fully paid
2023
£		   2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

3