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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
Page
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FAVOURITE FLAVOURS LIMITED Company Information for the year ended 29 February 2024
Director
MR F ALI
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
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FAVOURITE FLAVOURS LIMITED Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
84,084 
41,525 
Current assets
Inventories
20,453 
55,234 
Debtors
11,824 
217 
Cash at bank and in hand
52,893 
84,367 
85,170 
139,818 
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)
Net assets
60,090 
29,947 
Capital and reserves
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
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FAVOURITE FLAVOURS LIMITED Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
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
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.
Pension costs
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.
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FAVOURITE FLAVOURS LIMITED Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
12,000 
At 29 February 2024
12,000 
Amortisation
At 1 March 2023
12,000 
At 29 February 2024
12,000 
Net book value
At 29 February 2024
- 
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 
Depreciation
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 
Net book value
At 29 February 2024
34,368 
49,716 
84,084 
At 28 February 2023
20,595 
20,930 
41,525 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,120 
- 
Other debtors
- 
217 
10,120 
217 
Amounts falling due after more than one year
Other debtors
1,704 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,640 
5,525 
Trade creditors
45,197 
61,040 
Taxes and social security
7,859 
6,389 
Proposed dividends
15,000 
25,000 
Other creditors
30 
30 
72,726 
97,984 
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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 
£ 
£ 
Bank loans
21,535 
31,534 
Other creditors
14,903 
21,878 
36,438 
53,412 
9
Average number of employees
During the year the average number of employees was 5 (2023: 4).
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