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Registered number: 01475170
Fromages De France Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
PKW Accountancy Limited
Second Floor
1 Church Square
Leighton Buzzard
Bedfordshire
LU7 1AE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 01475170
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 3,875,000 3,875,000
3,875,000 3,875,000
CURRENT ASSETS
Debtors - 32
Cash at bank and in hand 33,916 250,828
33,916 250,860
Creditors: Amounts Falling Due Within One Year 5 (414,200 ) (410,726 )
NET CURRENT ASSETS (LIABILITIES) (380,284 ) (159,866 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,494,716 3,715,134
Creditors: Amounts Falling Due After More Than One Year 6 (138,320 ) (418,265 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (101,237 ) (77,704 )
NET ASSETS 3,255,159 3,219,165
CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Profit and Loss Account 3,250,159 3,214,165
SHAREHOLDERS' FUNDS 3,255,159 3,219,165
Page 1
Page 2
For the year ending 31 January 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 25 March 2024 and were signed on its behalf by:
D C Wiedemann
Director
25th March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fromages De France Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01475170 . The registered office is Red Rooves, Heath Park Road, Leighton Buzzard, LU7 3BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 February 2023 3,875,000
Additions 4,020
Fair value adjustments (4,020 )
As at 31 January 2024 3,875,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 3,470,052 3,466,032
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 395,483 390,024
Taxation and social security 18,717 20,702
414,200 410,726
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 138,320 418,265
138,320 418,265
7. Secured Creditors
Of the creditors the following amounts are secured. The loans are secured on the properties they relate to.
2024 2023
£ £
Bank loans and overdrafts 138,320 418,265
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 101,237 77,704
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 77,704 77,704
Additions 23,533 23,533
Balance at 31 January 2024 101,237 101,237
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
Page 4