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Registered number: 01547006
Fiesta Kitchens Limited
Unaudited Financial Statements
For the Period 1 April 2023 to 31 July 2024
Adams Accountancy
Chartered Accountants
Heritage House, 34b North Cray Road
Bexley
Kent
DA5 3LZ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 01547006
31 July 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 10,551 3,875
Cash at bank and in hand 15,858 148,291
26,409 152,166
Creditors: Amounts Falling Due Within One Year 6 (26,309 ) (125,064 )
NET CURRENT ASSETS (LIABILITIES) 100 27,102
TOTAL ASSETS LESS CURRENT LIABILITIES 100 27,102
NET ASSETS 100 27,102
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account - 27,002
SHAREHOLDERS' FUNDS 100 27,102
For the period ending 31 July 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.
On behalf of the board
G F Graves
Director
12/09/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Fiesta Kitchens Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01547006 . The registered office is Heritage House, 34b North Cray Road, Bexley, Kent, DA5 3LZ.
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. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.  These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
2.3. 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 and from the rendering of services. 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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. 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 5 year straight line
Motor Vehicles 5 year straight line
Computer Equipment 3 year straight line
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.  Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest or a similar debt instrument.  Debt instruments are subsequently measured at amortised cost.  Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.  All other such investments are subsequently measured at cost less impairment.  Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.  Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date.  If there I objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.  For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assed individually for impairment.  Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.  Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Page 3
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 3,269 2,903 6,172
Disposals (3,269 ) (2,903 ) (6,172 )
Depreciation
As at 1 April 2023 3,269 2,903 6,172
Disposals (3,269 ) (2,903 ) (6,172 )
As at 31 July 2024 - - -
Net Book Value
As at 31 July 2024 - - -
As at 1 April 2023 - - -
5. Debtors
31 July 2024 31 March 2023
£ £
Due within one year
Amounts owed by group undertakings 10,539 -
Other debtors 12 3,875
10,551 3,875
6. Creditors: Amounts Falling Due Within One Year
31 July 2024 31 March 2023
£ £
Trade creditors - 1,053
Amounts owed to group undertakings - 16,379
Other creditors 26,309 107,632
26,309 125,064
7. Share Capital
31 July 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
At the balance sheet date the company owed £26,309 (2023: £104,298) to its directors. These loans are interest free and payable on demand.
At the balance sheet date the company was owed by a company under common control £10,539 (£2023 Owed: £16,379). This loan is interest free and payable on demand.
Page 3