Afimilk UK Ltd Accounts Cover
|
|
|||||||||
Company No. SC333487
|
|||||||||
|
|||||||||
|
|||||||||
Afimilk UK Ltd Contents
|
Pages
|
|||||||||
Company Information
|
2
|
||||||||
Directors' Report
|
3
|
||||||||
Auditor's Report
|
4 to 6
|
||||||||
Profit and Loss Account
|
7
|
||||||||
Balance Sheet
|
8
|
||||||||
Statement of Changes in Equity
|
9
|
||||||||
Notes to the Accounts
|
10 to 12
|
||||||||
Afimilk UK Ltd Company Information
|
Directors
|
|||||||||
|
|||||||||
|
|||||||||
Registered Office
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
Auditor
|
|||||||||
Gordon Levy Limited
|
|||||||||
Suite 5, 4th Floor Universal Square
|
|||||||||
Manchester, England, M12 6JH
|
|||||||||
Accountant
|
|||||||||
|
|||||||||
2nd Floor
|
|||||||||
201 Haverstock Hill
|
|||||||||
NW3 4QG
|
Afimilk UK Ltd Directors Report
|
The Directors present their report and the accounts for the year ended 31 December 2021.
|
|||||||||
Principal activities
|
|||||||||
|
|||||||||
Directors
|
|||||||||
The Directors who served at any time during the year were as follows:
|
|||||||||
|
|||||||||
|
|||||||||
Statement of directors' responsibilities
|
|||||||||
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
|
|||||||||
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts 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 accounts, the directors are required to:
|
|||||||||
*
|
select suitable accounting policies and then apply them consistently;
|
||||||||
*
|
make judgments and 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 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 of disclosure of information to auditor
|
|||||||||
|
|||||||||
|
|||||||||
Signed on behalf of the board
|
|||||||||
Y. Sovinsky
|
|||||||||
Director
|
|||||||||
29 December 2022
|
Afimilk UK Ltd Audit Report Unqualified
|
Independent Auditor's Report to the members of Afimilk UK Ltd
|
|||||||||
Opinion
|
|||||||||
We have audited the accounts of Afimilk UK Ltd (the 'company') for the year ended 31 December 2021 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' .
|
|||||||||
In our opinion the accounts:
|
|||||||||
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 applicable law and International Standards on Auditing (UK) (ISAs (UK). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts 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
|
|||||||||
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
|
|||||||||
• the directors' use of the going concern basis of accounting in the preparation of the accounts is not
appropriate; or • the directors' have not disclosed in the accounts any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the accounts are authorised for issue. |
|||||||||
Other information
|
|||||||||
The other information comprises the information included in the annual report and accounts, other than the accounts and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the accounts 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 accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 there is a material misstatement in the accounts or a material misstatement of the other information. 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.
|
|||||||||
Opinion on other matters prescribed by the Companies Act 2006
|
|||||||||
In our opinion, based upon the work undertaken in the course of the audit:
|
|||||||||
• the information given in the directors' report for the financial year for which the accounts are
prepared is consistent with the accounts; and |
|||||||||
• the directors' report has 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 directors' report.
|
|||||||||
|
|||||||||
• 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 accounts 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; or
|
|||||||||
• the directors were not entitled to prepare the accounts in accordance with the small companies
regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report. |
|||||||||
Responsibilities of directors
|
|||||||||
|
|||||||||
In preparing the accounts, 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.
|
|||||||||
Auditor's responsibilities for the audit of the accounts
|
|||||||||
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report 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 accounts. As part of the audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
|
|||||||||
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
|
|||||||||
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.
|
|||||||||
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
|
|||||||||
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
|
|||||||||
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
|
|||||||||
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.
|
|||||||||
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
|
|||||||||
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. We have used professional scepticism throughout the audit and no evidence of fraud was found.
|
|||||||||
Use of this 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 an auditors' report 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.
|
|||||||||
|
|||||||||
For and on behalf of Gordon Levy, Statutory Auditor
|
|||||||||
Accountants and Statutory Auditors
|
|||||||||
Suite 5, 4th Floor, 3 Universal Square
|
|||||||||
Devonshire Street North
|
|||||||||
Manchester, England, M12 6JH
|
|||||||||
|
Afimilk UK Ltd Profit and Loss Account
|
for the year ended 31 December 2021
|
||||||||||
2021
|
2020
|
|||||||||
£
|
£
|
|||||||||
Turnover
|
|
|
||||||||
Cost of sales
|
-
|
(121,304)
|
||||||||
Gross profit
|
|
|
||||||||
Distribution costs and selling expenses
|
(
|
(
|
||||||||
Administrative expenses
|
(
|
(
|
||||||||
Other operating income
|
|
|
||||||||
Operating profit
|
|
|
||||||||
Profit on ordinary activities before taxation
|
|
|
||||||||
Taxation
|
|
(
|
||||||||
Profit for the financial year after taxation
|
|
|
||||||||
There were no recognised gains and losses for the current and preceding financial year other than those included in the profit and loss account above and therefore no statement of total recognised gains and losses has been presented.
|
||||||||||
The results are derived from continued operations.
|
Afimilk UK Ltd Balance Sheet
|
at
|
|
|||||||||
Company No.
|
|
Notes
|
2021
|
2020
|
||||||
£
|
£
|
|||||||||
Current assets
|
||||||||||
Debtors
|
5
|
|
|
|||||||
Cash at bank and in hand
|
|
|
||||||||
|
|
|||||||||
Creditors: Amount falling due within one year
|
6
|
(
|
(
|
|||||||
Net current assets
|
|
|
||||||||
Total assets less current liabilities
|
|
|
||||||||
Net assets
|
|
|
||||||||
Capital and reserves
|
||||||||||
Called up share capital
|
|
|
||||||||
Other reserves
|
7
|
|
|
|||||||
Profit and loss account
|
8
|
(
|
(
|
|||||||
Total equity
|
|
|
||||||||
|
||||||||||
All the members have consented to the preparation of financial statements for the year ended 31 December 2021 in accordance with the Companies Act 2006.
|
||||||||||
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
|
||||||||||
Approved by the board on 29 December 2022
|
||||||||||
And signed on its behalf by:
|
||||||||||
Y. Sovinsky
|
||||||||||
Director
|
||||||||||
29 December 2022
|
Afimilk UK Ltd Statement of Changes in Equity
|
for the year ended 31 December 2021
|
||||||||||||
Share Capital
|
Other Reserves
|
Retained earnings
|
Total equity
|
|||||||||
£
|
£
|
£
|
||||||||||
At 1 January 2020
|
1,800
|
-
|
(1,174,745)
|
(1,172,945)
|
||||||||
Profit for the period
|
|
|
||||||||||
At 31 December 2020 and 1 January 2021
|
|
|
(
|
|
||||||||
Profit for the period
|
|
|
||||||||||
At 31 December 2021
|
|
|
(
|
|
||||||||
Afimilk UK Ltd Notes to the Accounts
|
for the year ended 31 December 2021
|
||||||||||||||||
1
|
General information
|
|||||||||||||||
|
||||||||||||||||
Its registered number is: SC333487
|
||||||||||||||||
Its registered office is:
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
2
|
Accounting policies
|
Going concern
|
||||||||||||||||
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
|
||||||||||||||||
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.
|
||||||||||||||||
Turnover
|
||||||||||||||||
|
||||||||||||||||
Foreign currencies
|
||||||||||||||||
|
||||||||||||||||
|
||||||||||||||||
3
|
Taxation
|
|||||||||||||||
2021
|
2020
|
|||||||||||||||
£
|
£
|
|||||||||||||||
Domestic current year tax
|
||||||||||||||||
UK corporation tax
|
-
|
25,069
|
||||||||||||||
Current tax charge
|
-
|
25,069
|
||||||||||||||
4
|
Employees
|
|||||||||||||||
2021
|
2020
|
|||||||||||||||
Number
|
Number
|
|||||||||||||||
The average monthly number of employees (including directors) during the year was:
|
|
|
||||||||||||||
5
|
Debtors
|
|||||||||||||||
2021
|
2020
|
|||||||||||||||
£
|
£
|
|||||||||||||||
Prepayments and accrued income
|
4,626
|
7,506
|
||||||||||||||
Other debtors
|
14,072
|
3,116
|
||||||||||||||
Amounts due from group companies
|
1,329,283
|
999,488
|
||||||||||||||
1,347,981
|
1,010,110
|
|||||||||||||||
6
|
Creditors
|
|||||||||||||||
2021
|
2020
|
|||||||||||||||
£
|
£
|
|||||||||||||||
Other creditors
|
4,882
|
4,476
|
||||||||||||||
Trade creditors
|
15,122
|
3,044
|
||||||||||||||
Accruals and deferred income
|
72,295
|
46,200
|
||||||||||||||
Amounts payable to group companies
|
435,198
|
435,198
|
||||||||||||||
Taxation & social security
|
32,947
|
20,517
|
||||||||||||||
560,444
|
509,435
|
|||||||||||||||
7
|
Reserves
|
|||||||||||||||
Other Reserve
|
Total other reserves
|
|||||||||||||||
£
|
£
|
|||||||||||||||
At 31 December 2020 and 1 January 2021
|
|
|
||||||||||||||
At 31 December 2021
|
|
|
||||||||||||||
|
||||||||||||||||
8
|
Statement of movement in profit & loss account
|
|||||||||||||||
Profit & loss account
|
||||||||||||||||
£
|
||||||||||||||||
Balance at 1 January 2021
|
(900,603)
|
|||||||||||||||
Profit for the financial year
|
286,379
|
|||||||||||||||
Balance at 31 December 2021
|
(614,224)
|
|||||||||||||||
9
|
Control
|
|||||||||||||||
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which the entity is a member:
|
||||||||||||||||
Afimilk Agricultural Cooperative Ltd, incorporated in Israel
|
||||||||||||||||
The parent entity's registered office address is:
|
||||||||||||||||
Kibbutz Afikim, 1514800, Israel.
|
||||||||||||||||
10
|
Related party disclosures
|
|||||||||||||||
2021
|
2020
|
|||||||||||||||
Transactions with related parties
|
£
|
£
|
||||||||||||||
Name of related party
|
|
|||||||||||||||
Amount due from/(to) the related party
|
|
|
||||||||||||||
Name of related party
|
|
|||||||||||||||
Amount due from/(to) the related party
|
(
|
(
|
||||||||||||||