UK SPICE AND INGREDIENTS LTD

UK SPICE AND INGREDIENTS LTD - Company Information

2022-09-012023-08-312023-08-31false05543607UK SPICE AND INGREDIENTS LTD2024-06-03iso4217:GBPxbrli:pure055436072022-09-01055436072023-08-31055436072022-09-012023-08-31055436072021-09-01055436072022-08-31055436072021-09-012022-08-3105543607bus:SmallEntities2022-09-012023-08-3105543607bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3105543607bus:FullAccounts2022-09-012023-08-3105543607bus:PrivateLimitedCompanyLtd2022-09-012023-08-3105543607core:WithinOneYear2023-08-3105543607core:AfterOneYear2023-08-3105543607core:WithinOneYear2022-08-3105543607core:AfterOneYear2022-08-3105543607core:ShareCapital2023-08-3105543607core:SharePremium2023-08-3105543607core:RevaluationReserve2023-08-3105543607core:OtherReservesSubtotal2023-08-3105543607core:RetainedEarningsAccumulatedLosses2023-08-3105543607core:ShareCapital2022-08-3105543607core:SharePremium2022-08-3105543607core:RevaluationReserve2022-08-3105543607core:OtherReservesSubtotal2022-08-3105543607core:RetainedEarningsAccumulatedLosses2022-08-3105543607core:LandBuildings2023-08-3105543607core:PlantMachinery2023-08-3105543607core:Vehicles2023-08-3105543607core:FurnitureFittings2023-08-3105543607core:OfficeEquipment2023-08-3105543607core:NetGoodwill2023-08-3105543607core:IntangibleAssetsOtherThanGoodwill2023-08-3105543607core:ListedExchangeTraded2023-08-3105543607core:UnlistedNon-exchangeTraded2023-08-3105543607core:LandBuildings2022-08-3105543607core:PlantMachinery2022-08-3105543607core:Vehicles2022-08-3105543607core:FurnitureFittings2022-08-3105543607core:OfficeEquipment2022-08-3105543607core:NetGoodwill2022-08-3105543607core:IntangibleAssetsOtherThanGoodwill2022-08-3105543607core:ListedExchangeTraded2022-08-3105543607core:UnlistedNon-exchangeTraded2022-08-3105543607core:LandBuildings2022-09-012023-08-3105543607core:PlantMachinery2022-09-012023-08-3105543607core:Vehicles2022-09-012023-08-3105543607core:FurnitureFittings2022-09-012023-08-3105543607core:OfficeEquipment2022-09-012023-08-3105543607core:NetGoodwill2022-09-012023-08-3105543607core:IntangibleAssetsOtherThanGoodwill2022-09-012023-08-3105543607core:ListedExchangeTraded2022-09-012023-08-3105543607core:UnlistedNon-exchangeTraded2022-09-012023-08-3105543607core:MoreThanFiveYears2022-09-012023-08-3105543607core:Non-currentFinancialInstruments2023-08-3105543607core:Non-currentFinancialInstruments2022-08-3105543607dpl:CostSales2022-09-012023-08-3105543607dpl:DistributionCosts2022-09-012023-08-3105543607core:LandBuildings2022-09-012023-08-3105543607core:PlantMachinery2022-09-012023-08-3105543607core:Vehicles2022-09-012023-08-3105543607core:FurnitureFittings2022-09-012023-08-3105543607core:OfficeEquipment2022-09-012023-08-3105543607dpl:AdministrativeExpenses2022-09-012023-08-3105543607core:NetGoodwill2022-09-012023-08-3105543607core:IntangibleAssetsOtherThanGoodwill2022-09-012023-08-3105543607dpl:GroupUndertakings2022-09-012023-08-3105543607dpl:ParticipatingInterests2022-09-012023-08-3105543607dpl:GroupUndertakingscore:ListedExchangeTraded2022-09-012023-08-3105543607core:ListedExchangeTraded2022-09-012023-08-3105543607dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-09-012023-08-3105543607core:UnlistedNon-exchangeTraded2022-09-012023-08-3105543607dpl:CostSales2021-09-012022-08-3105543607dpl:DistributionCosts2021-09-012022-08-3105543607core:LandBuildings2021-09-012022-08-3105543607core:PlantMachinery2021-09-012022-08-3105543607core:Vehicles2021-09-012022-08-3105543607core:FurnitureFittings2021-09-012022-08-3105543607core:OfficeEquipment2021-09-012022-08-3105543607dpl:AdministrativeExpenses2021-09-012022-08-3105543607core:NetGoodwill2021-09-012022-08-3105543607core:IntangibleAssetsOtherThanGoodwill2021-09-012022-08-3105543607dpl:GroupUndertakings2021-09-012022-08-3105543607dpl:ParticipatingInterests2021-09-012022-08-3105543607dpl:GroupUndertakingscore:ListedExchangeTraded2021-09-012022-08-3105543607core:ListedExchangeTraded2021-09-012022-08-3105543607dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-09-012022-08-3105543607core:UnlistedNon-exchangeTraded2021-09-012022-08-3105543607core:NetGoodwill2023-08-3105543607core:IntangibleAssetsOtherThanGoodwill2023-08-3105543607core:LandBuildings2023-08-3105543607core:PlantMachinery2023-08-3105543607core:Vehicles2023-08-3105543607core:FurnitureFittings2023-08-3105543607core:OfficeEquipment2023-08-3105543607core:AfterOneYear2023-08-3105543607core:WithinOneYear2023-08-3105543607core:ListedExchangeTraded2023-08-3105543607core:UnlistedNon-exchangeTraded2023-08-3105543607core:ShareCapital2023-08-3105543607core:SharePremium2023-08-3105543607core:RevaluationReserve2023-08-3105543607core:OtherReservesSubtotal2023-08-3105543607core:RetainedEarningsAccumulatedLosses2023-08-3105543607core:NetGoodwill2022-08-3105543607core:IntangibleAssetsOtherThanGoodwill2022-08-3105543607core:LandBuildings2022-08-3105543607core:PlantMachinery2022-08-3105543607core:Vehicles2022-08-3105543607core:FurnitureFittings2022-08-3105543607core:OfficeEquipment2022-08-3105543607core:AfterOneYear2022-08-3105543607core:WithinOneYear2022-08-3105543607core:ListedExchangeTraded2022-08-3105543607core:UnlistedNon-exchangeTraded2022-08-3105543607core:ShareCapital2022-08-3105543607core:SharePremium2022-08-3105543607core:RevaluationReserve2022-08-3105543607core:OtherReservesSubtotal2022-08-3105543607core:RetainedEarningsAccumulatedLosses2022-08-3105543607core:NetGoodwill2021-09-0105543607core:IntangibleAssetsOtherThanGoodwill2021-09-0105543607core:LandBuildings2021-09-0105543607core:PlantMachinery2021-09-0105543607core:Vehicles2021-09-0105543607core:FurnitureFittings2021-09-0105543607core:OfficeEquipment2021-09-0105543607core:AfterOneYear2021-09-0105543607core:WithinOneYear2021-09-0105543607core:ListedExchangeTraded2021-09-0105543607core:UnlistedNon-exchangeTraded2021-09-0105543607core:ShareCapital2021-09-0105543607core:SharePremium2021-09-0105543607core:RevaluationReserve2021-09-0105543607core:OtherReservesSubtotal2021-09-0105543607core:RetainedEarningsAccumulatedLosses2021-09-0105543607core:AfterOneYear2022-09-012023-08-3105543607core:WithinOneYear2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:CostValuation2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-09-012023-08-3105543607core:Non-currentFinancialInstrumentscore:CostValuation2023-08-3105543607core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-08-3105543607core:Non-currentFinancialInstrumentscore:CostValuation2022-08-3105543607core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-08-3105543607core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-08-3105543607bus:Director12022-09-012023-08-3105543607bus:Director22022-09-012023-08-3105543607core:FurnitureFittingsToolsEquipment2022-08-3105543607core:FurnitureFittingsToolsEquipment2022-09-012023-08-3105543607core:FurnitureFittingsToolsEquipment2023-08-31

Registered Number
05543607
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

UK SPICE AND INGREDIENTS LTD

Company Information
for the year from 1 September 2022 to 31 August 2023


Directors	DR A KHANNA
	A KHANNA


Company Secretary	A KHANNA


Registered Address	66 Wolsey Road
	Northwood
	Middlesex
	HA6 2EH


Registered Number	05543607 (England and Wales)

UK SPICE AND INGREDIENTS LTD

Balance Sheet as at
31 August 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	3		73,220		1,540
Investments	5		24,230		24,230
Investment property	4		2,975,834		2,975,834
			3,073,284		3,001,604
Current assets
Debtors	6	1,740,954		2,219,614
Cash at bank and on hand		589,764		286,010
		2,330,718		2,505,624
Creditors amounts falling due within one year	7	(3,172,423)		(3,517,718)
Net current assets (liabilities)			(841,705)		(1,012,094)
Total assets less current liabilities			2,231,579		1,989,510
Creditors amounts falling due after one year	8		(84,085)		-
Net assets			2,147,494		1,989,510
Capital and reserves
Called up share capital			5,100		5,100
Profit and loss account			2,142,394		1,984,410
Shareholders' funds			2,147,494		1,989,510

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 3 June 2024, and are signed on its behalf by:

A KHANNA
Director
Registered Company No. 05543607

UK SPICE AND INGREDIENTS LTD

Notes to the Financial Statements
for the year ended 31 August 2023

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	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).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Fixtures and fittings	20
	Vehicles	20

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2023		2022
	Average number of employees during the year	2		3

3.	Tangible fixed assets

	Vehicles	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 September 22	-	14,711	14,711
Additions	89,018	968	89,986
At 31 August 23	89,018	15,679	104,697
Depreciation and impairment
At 01 September 22	-	13,171	13,171
Charge for year	17,804	502	18,306
At 31 August 23	17,804	13,673	31,477
Net book value
At 31 August 23	71,214	2,006	73,220
At 31 August 22	-	1,540	1,540

4.	Investment property


		£
	Fair value at 01 September 22	2,975,834
	At 31 August 23	2,975,834

5.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 September 22	24,230	24,230
At 31 August 23	24,230	24,230
Net book value
At 31 August 23	24,230	24,230
At 31 August 22	24,230	24,230

	Notes
	¹Other investments other than loans

6.	Debtors: amounts due within one year

	2023	2022
	£	£
Trade debtors / trade receivables	622,478	1,131,094
Other debtors	85,138	61,005
Total	707,616	1,192,099

7.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	2,869,822	3,197,992
Bank borrowings and overdrafts	40,961	49,530
Taxation and social security	45,323	28,609
Other creditors	181,935	30,711
Accrued liabilities and deferred income	34,382	210,876
Total	3,172,423	3,517,718

8.	Creditors: amounts due after one year

	2023	2022
	£	£
Other creditors	84,085	-
Total	84,085	-

9.	Obligations under finance leases

		2023		2022
		£		£
	Finance lease and HP contracts	84,085		-