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REGISTERED NUMBER: 10561370 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fugglestar Ltd

Fugglestar Ltd (Registered number: 10561370)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fugglestar Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D Kwiatkowski
A Berhane





REGISTERED OFFICE: The Five Pointed Star
100 High Street
West Malling
Kent
ME19 6NE





REGISTERED NUMBER: 10561370 (England and Wales)





ACCOUNTANT: Austin,Taylor
16 Dover Street
Canterbury
Kent
CT1 3HD

Fugglestar Ltd (Registered number: 10561370)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,613 63,765

CURRENT ASSETS
Stocks 5 9,875 9,875
Debtors 6 34,474 18,750
Cash at bank and in hand 57,360 67,662
101,709 96,287
CREDITORS
Amounts falling due within one year 7 348,710 328,037
NET CURRENT LIABILITIES (247,001 ) (231,750 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(189,388

)

(167,985

)

CREDITORS
Amounts falling due after more than one
year

8

24,848

31,448
NET LIABILITIES (214,236 ) (199,433 )

CAPITAL AND RESERVES
Called up share capital 11 67 67
Retained earnings 12 (214,303 ) (199,500 )
SHAREHOLDERS' FUNDS (214,236 ) (199,433 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 23 December 2023 and were signed on its behalf by:





D Kwiatkowski - Director


Fugglestar Ltd (Registered number: 10561370)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Fugglestar Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

The financial statements have been prepared on the going concern basis, notwithstanding the deficiency of net assets, on the grounds that the directors have confirmed the necessary funds will be made available for the company to meet its obligations as and when they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 5% on cost
Kitchen equipment - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asset is impaired.

Cash at bank and in hand

These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.

Trade Creditors

Trade creditors are not interest bearing and are stated at their nominal value.

Loans

Loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

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.


Fugglestar Ltd (Registered number: 10561370)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Kitchen
leasehold property equipment
£    £    £   
COST
At 1 April 2022 7,881 26,761 62,202
Additions - - 5,218
At 31 March 2023 7,881 26,761 67,420
DEPRECIATION
At 1 April 2022 1,850 6,486 50,244
Charge for year 394 1,338 13,002
At 31 March 2023 2,244 7,824 63,246
NET BOOK VALUE
At 31 March 2023 5,637 18,937 4,174
At 31 March 2022 6,031 20,275 11,958

Fugglestar Ltd (Registered number: 10561370)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 117,097 4,505 218,446
Additions 37,830 - 43,048
At 31 March 2023 154,927 4,505 261,494
DEPRECIATION
At 1 April 2022 93,226 2,875 154,681
Charge for year 33,327 1,139 49,200
At 31 March 2023 126,553 4,014 203,881
NET BOOK VALUE
At 31 March 2023 28,374 491 57,613
At 31 March 2022 23,871 1,630 63,765

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 9,875 9,875

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 18,450 18,750
Directors' loan accounts 4,652 -
Prepayments 11,372 -
34,474 18,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 9) 10,648 10,649
Other loans (see note 9) 63,166 -
Trade creditors 83,235 48,825
Social security and other taxes 42,601 31,270
Other creditors 147,712 234,457
Directors' loan accounts 348 696
Accruals and deferred income 1,000 2,140
348,710 328,037

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 24,848 31,448

Fugglestar Ltd (Registered number: 10561370)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,648 10,649
Other loans 63,166 -
73,814 10,649

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,648 10,648

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,200 20,800

10. LEASING AGREEMENTS
At the year end the company had non-concealable operating leases of £58,000 per annum along with a charge of 8% on turnover.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
6,700 Ordinary £0.01 67 67

12. RESERVES
Retained
earnings
£   

At 1 April 2022 (199,500 )
Deficit for the year (14,803 )
At 31 March 2023 (214,303 )

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company was owed Mr A Berhane £4,652 (2022: £348) and Mr D Kwiatkowski £348 (2022: £348).The loans are repayable on demand and interest free.

Former directors Mr M Peters was owed £40,500 (2022: £66,500) and Mr N Devlin was owed £51,000 (2021: £77,000) at the year end. The balance is now within other creditors. The amounts are repayable within 5 years and interest free.