JAIN INTERNATIONAL FOODS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1 in the financial statements which explains the inherent uncertainties regarding the covenant breach, continued support of the bank and the reliance on group support in order for the company to continue to operate and meet its liabilities as they fall due for payment. As stated in note 1, these matters indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

1. JAIN INTERNATIONAL FOODS LIMITED 2016-03-08 → present
2. SQF 2009 LIMITED 2009-10-15 → 2016-03-08

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

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1 in the financial statements which explains the inherent uncertainties regarding the covenant breach, continued support of the bank and the reliance on group support in order for the company to continue to operate and meet its liabilities as they fall due for payment. As stated in note 1, these matters indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.”

Group structure

1. JAIN INTERNATIONAL FOODS LIMITED · parent
   1. Sleaford Food Group Limited 100% · UK · Holding Company
   2. Sleaford Quality Foods Limited 100% · UK · Import, Processing and distribution of dehydrated and canned Foods
   3. Jain Americas Foods Inc 100% · US · Import, Processing and distribution of dehydrated and canned Foods
   4. Jain Farm Fresh Foods Inc 100% · US · Import, Processing and distribution of dehydrated and canned Foods
   5. Jain Farm Fresh Holdings SPRL 100% · Belgium · Holding Company
   6. Jain Farm Fresh Gida 90% · Turkiye · Steam sterilising herbs for the food industry
   7. Jain Irrigation Holding Inc 100% · US · Dormant Company
   8. JIIO 100% · US · Dormant Company
   9. Innovafoods N.V. 100% · Belgium · Import and distribution of dehydrated foodstuffs
   10. Solutions Key Ltd 100% · Belgium · Dormant Company
   11. Arnolds Quick Dried Foods Limited 100% · UK · Dormant Company

Significant events

• “At the year end there was a technical breach of a financial covenant in respect of the company's Cooperative Rabobank bank loan of USD $12m and the company's Cooperative Rabobank loan of USD $12.5m.”
• “Following the year end, the company negotiated new repayment schedules on both bank loans whereby the final instalments of the loans are due in December 2028.”

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

  +6.8%

  £19,994,835 → £21,345,930

• Cash

  -59%

  £230,269 → £94,467

• Net assets

  -5.4%

  £11,444,944 → £10,830,475

• Employees

  0%

  9 → 9

• Operating profit

  -1,666.4%

  -£34,101 → -£602,364

• Profit before tax

  +72.2%

  -£2,209,157 → -£613,985

• Wages

  +25.7%

  £864,663 → £1,087,063

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers