Company Registration No. NI615302 (Northern Ireland)
French Village Ltd
Unaudited accounts
for the year ended 31 January 2023
French Village Ltd
Unaudited accounts
Contents
French Village Ltd
Company Information
for the year ended 31 January 2023
Directors
Robert Ashley French
Amy Elizabeth French
Company Number
NI615302 (Northern Ireland)
Registered Office
32 Montgomery Road
Belfast
BT6 9HL
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
French Village Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
17,194
34,800
Cash at bank and in hand
28,845
11,170
Creditors: amounts falling due within one year
(204,754)
(188,675)
Net current liabilities
(152,242)
(169,848)
Total assets less current liabilities
(135,048)
(135,048)
Provisions for liabilities
Deferred tax
(2,913)
(6,180)
Net liabilities
(137,961)
(141,228)
Called up share capital
100
100
Profit and loss account
(138,061)
(141,328)
Shareholders' funds
(137,961)
(141,228)
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by
Robert Ashley French
Director
Company Registration No. NI615302
French Village Ltd
Notes to the Accounts
for the year ended 31 January 2023
French Village Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI615302. The registered office is 32 Montgomery Road, Belfast, BT6 9HL, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
10% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
French Village Ltd
Notes to the Accounts
for the year ended 31 January 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Unrelieved tax losses and other deferred tax assets are recognized only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Although the balance sheet shows a deficit, the directors have pledged their support for the company and therefore the going concern basis is considered appropriate.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2022
24,463
57,649
87,575
169,687
Disposals
-
(57,649)
-
(57,649)
At 31 January 2023
24,463
-
88,950
113,413
At 1 February 2022
17,437
50,009
67,441
134,887
Charge for the year
2,446
-
8,895
11,341
On disposals
-
(50,009)
-
(50,009)
At 31 January 2023
19,883
-
76,336
96,219
At 31 January 2023
4,580
-
12,614
17,194
At 31 January 2022
7,026
7,640
20,134
34,800
French Village Ltd
Notes to the Accounts
for the year ended 31 January 2023
Amounts falling due within one year
Accrued income and prepayments
668
-
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
41,145
44,332
Amounts owed to group undertakings and other participating interests
116,484
112,142
Taxes and social security
4,937
(2,365)
7
Transactions with related parties
During the financial year, various loan accounts operated between French Village Ltd and other companies, all of which were under common control.
At the end of the financial year a balance of £104,022 was owed by French Village Ltd to French Village Bakery Ltd (2022 - £112,142).
At the end of the financial year the trade creditor balance also included an amount owing of £12,173 by French Village Ltd to French Village Bakery Ltd.
At the end of the financial year a total balance of £25,000 was owed by French Village Ltd to Baker Street Kitchen Ltd (2022 - £0).
8
Average number of employees
During the year the average number of employees was 19 (2022: 16).