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Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Fab Foods Limited

Fab Foods Limited (Registered number: 00871322)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fab Foods Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: RMA Cooke
PR Cooke





SECRETARY: Ms G Howland





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 00871322 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Fab Foods Limited (Registered number: 00871322)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 246,860 253,299

CURRENT ASSETS
Stocks 4,143 5,515
Debtors 5 11,299 10,103
Cash at bank 212,914 235,732
228,356 251,350
CREDITORS
Amounts falling due within one year 6 54,560 50,457
NET CURRENT ASSETS 173,796 200,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,656

454,192

CREDITORS
Amounts falling due after more than one
year

7

175,932

211,442
NET ASSETS 244,724 242,750

CAPITAL AND RESERVES
Called up share capital 8 11,350 11,350
Retained earnings 233,374 231,400
SHAREHOLDERS' FUNDS 244,724 242,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





RMA Cooke - Director


Fab Foods Limited (Registered number: 00871322)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Fab Foods Limited 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.

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.

Turnover
Turnover represents goods sold excluding VAT. Sales are recognised when despatched to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 2 (2023 - 2 ) .

Fab Foods Limited (Registered number: 00871322)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 268,750 25,546 39,972
Additions - - -
At 31 March 2024 268,750 25,546 39,972
DEPRECIATION
At 1 April 2023 32,250 10,218 38,977
Charge for year 5,375 1,278 100
At 31 March 2024 37,625 11,496 39,077
NET BOOK VALUE
At 31 March 2024 231,125 14,050 895
At 31 March 2023 236,500 15,328 995

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 37,032 4,500 14,175 389,975
Additions - - 564 564
At 31 March 2024 37,032 4,500 14,739 390,539
DEPRECIATION
At 1 April 2023 36,630 4,455 14,146 136,676
Charge for year 40 12 198 7,003
At 31 March 2024 36,670 4,467 14,344 143,679
NET BOOK VALUE
At 31 March 2024 362 33 395 246,860
At 31 March 2023 402 45 29 253,299

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,260 3,626
Other debtors 4,340 4,340
VAT 540 914
Prepayments 1,159 1,223
11,299 10,103

Fab Foods Limited (Registered number: 00871322)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 5,443
Trade creditors 44,424 30,509
Tax 3,999 7,947
Social security and other taxes 360 281
Directors' current accounts 277 777
Accrued expenses 5,500 5,500
54,560 50,457

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 5,553
Bank loans - 2-5 years - 17,341
Bank loans more 5 yr by instal - 12,616
Other creditors 175,932 175,932
175,932 211,442

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 12,616

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
11,350 Ordinary £1 11,350 11,350

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.