Registered number
13920677
Foodplace Ltd
Filleted Accounts
28 February 2023
Foodplace Ltd
Registered number: 13920677
Balance Sheet
as at 28 February 2023
Notes 2023
£
Fixed assets
Tangible assets 3 16,000
16,000
Current assets
Stocks 1,500
Debtors 4 11,437
Cash at bank and in hand 5,224
18,161
Creditors: amounts falling due within one year 5 (35,522)
Net current liabilities (17,361)
Total assets less current liabilities (1,361)
Net liabilities (1,361)
Capital and reserves
Called up share capital 100
Profit and loss account (1,461)
Shareholder's funds (1,361)
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.
Mariglen Sallaku
Director
Approved by the board on 14 November 2023
Foodplace Ltd
Notes to the Accounts
for the year ended 28 February 2023
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. 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. Turnover from the rendering of services is recognised by reference to the stage of completion and the economic benefits have flowed to the seller.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against other future taxable profits. Current tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 March 2022 - -
Additions 20,000 20,000
At 28 February 2023 20,000 20,000
Depreciation
At 1 March 2022 - -
Charge for the year 4,000 4,000
At 28 February 2023 4,000 4,000
Net book value
At 28 February 2023 16,000 16,000
At 28 February 2022 - -
4 Debtors 2023
£
Trade debtors 837
Other debtors 10,600
11,437
5 Creditors: amounts falling due within one year 2023
£
Accruals 1,200
Taxation and social security costs 134
Other creditors 34,188
35,522
6 Other information
Foodplace Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Underwood Close
Kennington
Ashford
Kent
TN24 9LT
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