Company Registration No. 09432766 (England and Wales)
FAVOURITE FLAVOURS LIMITED
Unaudited accounts
for the year ended 29 February 2024
FAVOURITE FLAVOURS LIMITED
Unaudited accounts
Contents
FAVOURITE FLAVOURS LIMITED
Company Information
for the year ended 29 February 2024
Company Number
09432766 (England and Wales)
Registered Office
25 Whetley lane
Bradford
BD8 9EH
ENGLAND
Accountants
Arif Khan Accountants Limited
25 Whetley Lane
Bradford
W Yorkshire
BD8 9EH
FAVOURITE FLAVOURS LIMITED
Statement of financial position
as at 29 February 2024
Tangible assets
84,084
41,525
Cash at bank and in hand
52,893
84,367
Creditors: amounts falling due within one year
(72,726)
(97,984)
Net current assets
12,444
41,834
Total assets less current liabilities
96,528
83,359
Creditors: amounts falling due after more than one year
(36,438)
(53,412)
Called up share capital
100
100
Profit and loss account
59,990
29,847
Shareholders' funds
60,090
29,947
For the year ending 29 February 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 September 2024 and were signed on its behalf by
MR F ALI
Director
Company Registration No. 09432766
FAVOURITE FLAVOURS LIMITED
Notes to the Accounts
for the year ended 29 February 2024
FAVOURITE FLAVOURS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09432766. The registered office is 25 Whetley lane, Bradford, BD8 9EH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance basis
Motor vehicles
20% Reducing blance basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
FAVOURITE FLAVOURS LIMITED
Notes to the Accounts
for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill
At 29 February 2024
12,000
At 29 February 2024
12,000
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2023
65,523
46,490
112,013
Additions
22,358
41,215
63,573
At 29 February 2024
87,881
87,705
175,586
At 1 March 2023
44,928
25,560
70,488
Charge for the year
8,585
12,429
21,014
At 29 February 2024
53,513
37,989
91,502
At 29 February 2024
34,368
49,716
84,084
At 28 February 2023
20,595
20,930
41,525
Amounts falling due within one year
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
45,197
61,040
Taxes and social security
7,859
6,389
Proposed dividends
15,000
25,000
FAVOURITE FLAVOURS LIMITED
Notes to the Accounts
for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
14,903
21,878
9
Average number of employees
During the year the average number of employees was 5 (2023: 4).