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Registered number: 07785019
Famico Trading Limited
Financial Statements
For the Period 29 June 2023 to 30 September 2023
William Price & Co
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07785019
30 September 2023 28 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,065 3,999
Investment Properties 5 36,737 27,553
40,802 31,552
CURRENT ASSETS
Stocks 6 115,140 86,355
Debtors 7 151,246 150,422
Cash at bank and in hand 158,995 126,967
425,381 363,744
Creditors: Amounts Falling Due Within One Year 8 (387,297 ) (323,536 )
NET CURRENT ASSETS (LIABILITIES) 38,084 40,208
TOTAL ASSETS LESS CURRENT LIABILITIES 78,886 71,760
Creditors: Amounts Falling Due After More Than One Year 9 (19,682 ) (22,211 )
NET ASSETS 59,204 49,549
CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Profit and Loss Account 39,204 29,549
SHAREHOLDERS' FUNDS 59,204 49,549
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Page 2
For the period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
On behalf of the board
Mrs S Etemadi
Director
22 July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Famico Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07785019 . The registered office is Henleaze House, 13 Harbury Road, Bristol, BS9 4PN.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 4 years (straight line)
2.4. 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.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current 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 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: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 29 June 2023 13,761
Additions 595
As at 30 September 2023 14,356
Depreciation
As at 29 June 2023 9,762
Provided during the period 529
As at 30 September 2023 10,291
Net Book Value
As at 30 September 2023 4,065
As at 29 June 2023 3,999
5. Investment Property
30 September 2023
£
Fair Value
As at 29 June 2023 27,553
Additions 9,184
As at 30 September 2023 36,737
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6. Stocks
30 September 2023 28 June 2023
£ £
Stock 115,140 86,355
7. Debtors
30 September 2023 28 June 2023
£ £
Due within one year
Trade debtors 58,028 45,839
Other debtors 93,218 104,583
151,246 150,422
8. Creditors: Amounts Falling Due Within One Year
30 September 2023 28 June 2023
£ £
Trade creditors 216,433 168,628
Bank loans and overdrafts 10,382 10,449
Other taxes and social security 36,615 37,365
Other creditors 121,117 104,406
Accruals and deferred income 2,750 2,688
387,297 323,536
9. Creditors: Amounts Falling Due After More Than One Year
30 September 2023 28 June 2023
£ £
Bounce Back Loan > 1 year 19,682 22,211
10. Share Capital
30 September 2023 28 June 2023
£ £
Allotted, Called up and fully paid 20,000 20,000
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11. Related Party Transactions
At the end of the year, the company was owed £29,287 by the director (£16,319 in 2022).
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