Registered number
SC467887
FLAVAZ DESSERT PARLOUR LTD
Filleted Accounts
31 January 2022
FLAVAZ DESSERT PARLOUR LTD
Registered number: SC467887
Balance Sheet
as at 31 January 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 12,895 13,792
Current assets
Stocks 10,328 8,473
Debtors 4 1,200 3,522
Cash at bank and in hand 46,583 16,907
58,111 28,902
Creditors: amounts falling due within one year 5 (15,521) (9,090)
Net current assets 42,590 19,812
Total assets less current liabilities 55,485 33,604
Creditors: amounts falling due after more than one year 6 (4,471) (317)
Net assets 51,014 33,287
Capital and reserves
Called up share capital 100 100
Profit and loss account 50,914 33,187
Shareholder's funds 51,014 33,287
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Araf Hamid
Director
Approved by the board on 16 May 2022
FLAVAZ DESSERT PARLOUR LTD
Notes to the Accounts
for the year ended 31 January 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% Reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 6 3
3 Tangible fixed assets
Fixture & fittings
£
Cost
At 1 February 2021 23,199
Additions 536
At 31 January 2022 23,735
Depreciation
At 1 February 2021 9,407
Charge for the year 1,433
At 31 January 2022 10,840
Net book value
At 31 January 2022 12,895
At 31 January 2021 13,792
4 Debtors 2022 2021
£ £
Trade debtors 158 2,480
Other debtors 1,042 1,042
1,200 3,522
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 840 1,968
Taxation and social security costs 13,290 5,419
Other creditors 1,391 1,703
15,521 9,090
6 Creditors: amounts falling due after one year 2022 2021
£ £
Director's loan account 4,471 317
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