DIRECT FOOD INGREDIENTS LIMITED

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Josolyne LLP

Audit opinion

Qualified

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. The directors of the parent company have not included the results of its subsidiary Direct Food Ingredients West Indies Limited in the group accounts as the records are incomplete for the period. As the subsidiary's accounting records are insufficiently maintained and time has elapsed since the reporting date, there were no complete records to audit. We have therefore not audited the subsidiary.”

Group structure

1. DIRECT FOOD INGREDIENTS LIMITED · parent
   1. Direct Food Ingredients West Indies Ltd 100% · Grenada

Significant events

• “During FY24, the UK's food ingredient trading landscape faced significant challenges and underwent notable strategic shifts, driven by post-Brexit trade dynamics, evolving global market trends, and the reshaping of international agreements.”
• “Ongoing political instability in the Middle East, coupled with political turbulence in the United States, continued to exert pressure on global supply chains, particularly impacting cost of raw materials and lead times for materials sourced from the Far East.”
• “At the start of FY25, the Commercial Director, who had served on the board for two years, departed from the business. While this initially caused some short-term disruption within the commercial department, a new Head of Sales was appointed within weeks.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -0.1%

  £20,160,772 → £20,139,096

• Cash

  -59.6%

  £1,359,091 → £548,528

  lowest in 4 filed years

• Net assets

  -11.9%

  £5,112,629 → £4,504,201

  lowest in 3 filed years

• Employees

  +7.1%

  28 → 30

• Operating profit

  -80%

  £573,107 → £114,724

• Profit before tax

  -77.7%

  £585,922 → £130,949

• Wages

  -2.9%

  £1,304,959 → £1,267,124

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers