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REGISTERED NUMBER: 07820483 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FRUITS OF LABOUR LTD

FRUITS OF LABOUR LTD (REGISTERED NUMBER: 07820483)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FRUITS OF LABOUR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Ms M F Chitu
P Woodrow-Hill





REGISTERED OFFICE: 22 High Park Avenue
Hove
East Sussex
BN3 8PE





REGISTERED NUMBER: 07820483 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

FRUITS OF LABOUR LTD (REGISTERED NUMBER: 07820483)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 - 595
- 595

CURRENT ASSETS
Debtors 5 - 41,186
Cash at bank - 5,085
- 46,271
CREDITORS
Amounts falling due within one year 6 420 4,252
NET CURRENT (LIABILITIES)/ASSETS (420 ) 42,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

(420

)

42,614

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (422 ) 42,612
(420 ) 42,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:




P Woodrow-Hill - Director



Ms M F Chitu - Director


FRUITS OF LABOUR LTD (REGISTERED NUMBER: 07820483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 105,000
AMORTISATION
At 1 March 2023
and 29 February 2024 105,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

FRUITS OF LABOUR LTD (REGISTERED NUMBER: 07820483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 3,228 121 1,884 5,233
Disposals (3,228 ) (121 ) (1,884 ) (5,233 )
At 29 February 2024 - - - -
DEPRECIATION
At 1 March 2023 2,633 121 1,884 4,638
Eliminated on disposal (2,633 ) (121 ) (1,884 ) (4,638 )
At 29 February 2024 - - - -
NET BOOK VALUE
At 29 February 2024 - - - -
At 28 February 2023 595 - - 595

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 41,188
Other debtors - (2 )
- 41,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 8
VAT - 833
Directors' loan accounts - 1,611
Accrued expenses 420 1,800
420 4,252

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the period, P Woodrow-Hill cleared his loan to the company. As at the 29 February 2024 the company owed him £NIL (2023: £671). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

During the period, Ms M Chitu cleared her loan to the company. As at 29 February 2024 the company owed her £NIL (2023: £940). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Woodrow-Hill and Ms M Chitu.

This was by virtue of their 100% holding of the issued share capital.