Afimilk UK Ltd Filleted Accounts Cover
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Company No. SC333487
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Afimilk UK Ltd Directors Report Registrar
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Directors Report Registrar
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The Directors present their report and the accounts for the year ended 31 December 2020.
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Principal activities
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Directors
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The Directors who served at any time during the year were as follows:
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S. Hadad
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Y. Sovinsky
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Statement of directors' responsibilities
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The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
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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:
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*
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select suitable accounting policies and then apply them consistently;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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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.
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Statement of disclosure of information to auditor
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So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.
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Signed on behalf of the board
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S. Hadad
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Director
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24 January 2022
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Afimilk UK Ltd Balance Sheet Registrar
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at
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Company No.
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Notes
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2020
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2019
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£
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£
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Fixed assets
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Tangible assets
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6
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Current assets
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Stocks
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7
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Debtors
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8
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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9
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(
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(
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Net current assets/(liabilities)
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(
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Total assets less current liabilities
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(
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Net assets/(liabilities)
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(
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Capital and reserves
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Called up share capital
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11
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Revaluation reserve
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15
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Profit and loss account
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10
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(
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(
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Total equity
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(
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All the members have consented to the preparation of financial statements for the year ended 31 December 2020 in accordance with the Companies Act 2006.
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 24 January 2022
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And signed on its behalf by:
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S. Hadad
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Director
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24 January 2022
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Afimilk UK Ltd Notes to the Accounts Registrar
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for the year ended 31 December 2020
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1
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General information
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Its registered number is: SC333487
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Its registered office is:
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2
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Accounting policies
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Turnover
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Intangible fixed assets
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Stocks
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
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Plant and machinery
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3 years straight-line
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Computer equipment
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3 years straight-line
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3 years straight-line
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Foreign exchange
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Going concern
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3
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Employees
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2020
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2019
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Number
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Number
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The average monthly number of employees (including directors) during the year was:
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4
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Operating profit
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2020
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2019
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£
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£
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Operating profit is stated after charging:
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Depreciation of tangible fixed assets
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8,963
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2,948
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Foreign exchange (gain)/ loss
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(26,277)
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(94,678)
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Government grants
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-
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7,997
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Auditor's remuneration
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7,000
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6,000
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5
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Taxation
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2020
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2019
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£
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£
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Domestic current year tax
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UK corporation tax
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-
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-
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R&D tax credit
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25,069
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(78,500)
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Current tax charge
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25,069
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(78,500)
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6
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Tangible fixed assets
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Fixtures, fittings and equipment
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Total
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£
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£
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Cost or revaluation
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At 1 January 2020
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Disposals
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(
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(
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At 31 December 2020
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Depreciation
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At 1 January 2020
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Disposals
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(
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(
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At 31 December 2020
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Net book values
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At 31 December 2020
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At 31 December 2019
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7
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Stocks
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2020
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2019
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£
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£
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Finished goods
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-
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118,851
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8
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Debtors
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2020
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2019
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£
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£
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Trade debtors
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-
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139,863
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Prepayments and accrued income
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7,506
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9,114
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Other debtors
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3,116
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84,094
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Amounts due from group companies
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999,488
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-
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1,010,110
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233,071
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9
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Creditors: amounts falling due within one year
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2020
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2019
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£
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£
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Other creditors
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4,476
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6,113
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Trade creditors
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3,044
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698
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Accruals and deferred income
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46,200
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32,839
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Amounts payable to group companies
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435,198
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2,665,413
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Taxation and social security
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20,517
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12,491
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509,435
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2,717,554
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10
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Statements of movement in profit and loss
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Profit and loss account
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£
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Balance as at 1 January 2020
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(1,174,745)
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Profit for financial year
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284,642
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Balance as at 31 December 2020
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(890,103)
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11
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Share capital
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2020
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2019
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£
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£
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Allotted, called up and fully paid
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1,800 Ordinary shares of £1.00 each
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1,800
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1,800
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12
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Stocks
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2020
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2019
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£
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£
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Finished goods
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13
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Debtors
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2020
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2019
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£
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£
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Trade debtors
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Amounts owed by group undertakings
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Other debtors
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Prepayments and accrued income
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14
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Creditors:
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amounts falling due within one year
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2020
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2019
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£
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£
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Trade creditors
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Amounts owed to group undertakings
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Other taxes and social security
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Other creditors
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Accruals and deferred income
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15
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Reserves
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Other reserves
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Total other reserves
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£
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£
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Movement on other reserves
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At 31 December 2020
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16
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Control
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Afimilk Agricultural Cooperative Ltd, a company incorporated in Israel, is the ultimate holding company of Afimilk UK Ltd.
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17
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Related party disclosures
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2020
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2019
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Transactions with related parties
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£
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£
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Name of related party
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Amount due from/(to) the related party
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(
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Name of related party
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Amount due from/(to) the related party
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(
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(
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18
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Audit of the accounts
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The directors have required the company to obtain an audit
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Unqualified
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The auditors were:
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Gordon Levy Limited
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The senior statutory auditor was:
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Gordon Levy BA, FCA
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