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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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THE FOOD LINK GROUP LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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THE FOOD LINK GROUP LIMITED |
THE FOOD LINK GROUP LIMITED (REGISTERED NUMBER: 02925580) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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THE FOOD LINK GROUP LIMITED |
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COMPANY INFORMATION |
for the year ended 31 December 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
THE FOOD LINK GROUP LIMITED (REGISTERED NUMBER: 02925580) |
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BALANCE SHEET |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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THE FOOD LINK GROUP LIMITED (REGISTERED NUMBER: 02925580) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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The Food Link Group Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about The Food Link Group Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the |
Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking |
are included by full consolidation in the consolidated financial statements of its parent, The Keswick Enterprises Group |
Limited, . |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Income tax expense represents the sum of the tax currently payable and deferred tax. |
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the |
statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and |
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 end of the reporting period. |
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Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial |
statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally |
recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary |
differences to the extent that it is probable that taxable profits will be available against which those deductible timing |
differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and |
reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the |
asset to be recovered. |
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Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability |
is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end |
of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would |
follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying |
amount of its assets and liabilities. |
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Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in |
other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other |
comprehensive income or directly in equity respectively. |
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Valuation of investments |
Investments held as fixed assets are stated at cost less any provision for impairment. Investments held as current assets are |
stated at the lower of cost and net realisable value. |
THE FOOD LINK GROUP LIMITED (REGISTERED NUMBER: 02925580) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Impairment of fixed assets |
The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the asset against the |
higher of realisable value and value in use. |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: England and Wales |
Nature of business:
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Class of shares: | holding |
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Registered office: England and Wales |
Nature of business:
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Class of shares: | holding |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Amounts owed by group undertakings |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Accruals and deferred income |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Amounts owed to group undertakings |
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THE FOOD LINK GROUP LIMITED (REGISTERED NUMBER: 02925580) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2016 |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
owned subsidiaries within the group. |
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9. | AUDITOR LIABILITY LIMITATION AGREEMENT |
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The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of the |
statutory audit for the year ended 31 December 2016. The proportionate liability agreement follows the standard terms in |
Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved |
by the directors on 27 February 2017. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company's ultimate controlling party is Mr J A Harvey by virtue of his majority shareholding in the company's ultimate |
parent company, The Keswick Enterprises Group Limited. |
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11. | FIRST YEAR ADOPTION |
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This is the first year in which the financial statements have been prepared under FRS 102. |
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No transitional adjustments were required in equity or profit or loss for the year. |