BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is a take-away food shop and sit in cafe. 7 October 2024 16 16 NI669859 2024-03-31 NI669859 2023-03-31 NI669859 2022-03-31 NI669859 2023-04-01 2024-03-31 NI669859 2022-04-01 2023-03-31 NI669859 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI669859 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI669859 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI669859 uk-core:ShareCapital 2024-03-31 NI669859 uk-core:ShareCapital 2023-03-31 NI669859 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI669859 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI669859 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI669859 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI669859 uk-bus:FRS102 2023-04-01 2024-03-31 NI669859 uk-core:PlantMachinery 2023-04-01 2024-03-31 NI669859 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI669859 uk-core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 NI669859 2023-04-01 2024-03-31 NI669859 uk-bus:Director1 2023-04-01 2024-03-31 NI669859 uk-bus:Director2 2023-04-01 2024-03-31 NI669859 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
The Food House (Banbridge) Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024



The Food House (Banbridge) Ltd
Company Registration Number: NI669859
ABRIDGED BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 32,268 39,337
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Current Assets
Stocks 8,320 7,859
Debtors 15,592 15,512
Cash at bank and in hand 13,132 9,784
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37,044 33,155
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Creditors: amounts falling due within one year (47,498) (51,037)
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Net Current Liabilities (10,454) (17,882)
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Total Assets less Current Liabilities 21,814 21,455
 
Provisions for liabilities (7,198) (6,717)
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Net Assets 14,616 14,738
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Capital and Reserves
Called up share capital 10 10
Retained earnings 14,606 14,728
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Shareholders' Funds 14,616 14,738
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The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 7 October 2024 and signed on its behalf by
           
           
________________________________          
Mr. John McCartney          
Director          
           
           
________________________________
Mr. Mark Oliver Haughey
Director
           



The Food House (Banbridge) Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
The Food House (Banbridge) Limited is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI669859. The registered office of the company is 18 Derrywilligan Road, Newry, Co. Down, BT35 6JX, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report.
The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
The financial statements cover the individual entity for year ended 31 March 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Straight line
  Fixtures, fittings and equipment - 20% Straight line
  Leasehold Improvements - 12.5% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 16 16
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Leasehold Total
  machinery fittings and Improvements  
    equipment    
  £ £ £ £
Cost
At 1 April 2023 26,599 18,726 5,965 51,290
Additions - 1,743 - 1,743
  ───────── ───────── ───────── ─────────
At 31 March 2024 26,599 20,469 5,965 53,033
  ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2023 6,741 4,510 702 11,953
Charge for the financial year 3,972 4,094 746 8,812
  ───────── ───────── ───────── ─────────
At 31 March 2024 10,713 8,604 1,448 20,765
  ───────── ───────── ───────── ─────────
Net book value
At 31 March 2024 15,886 11,865 4,517 32,268
  ═════════ ═════════ ═════════ ═════════
At 31 March 2023 19,858 14,216 5,263 39,337
  ═════════ ═════════ ═════════ ═════════