2023-02-012024-01-312024-01-31falseNI653705French Village Group 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French Village Group Ltd

Registered Number
NI653705
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 January 2024

French Village Group Ltd
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

French, Amy Elizabeth
French, Robert Ashley

Company Secretary

Lamont, Andrew

Registered Address

32 Montgomery Road
Belfast
BT6 9HL

Registered Number

NI653705 (Northern Ireland)
French Village Group Ltd
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,7972,024
Investments4500500
4,2972,524
Current assets
Debtors5849,063251,725
Cash at bank and on hand8,33236,837
857,395288,562
Creditors amounts falling due within one year6(183,309)(39,471)
Net current assets (liabilities)674,086249,091
Total assets less current liabilities678,383251,615
Net assets678,383251,615
Capital and reserves
Called up share capital600600
Profit and loss account677,783251,015
Shareholders' funds678,383251,615
The financial statements were approved and authorised for issue by the Board of Directors on 12 September 2024, and are signed on its behalf by:
French, Robert Ashley
Director
Registered Company No. NI653705
French Village Group Ltd
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment10
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year97
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 February 232,2072,207
Additions2,1192,119
At 31 January 244,3264,326
Depreciation and impairment
At 01 February 23183183
Charge for year346346
At 31 January 24529529
Net book value
At 31 January 243,7973,797
At 31 January 232,0242,024
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 February 23500500
At 31 January 24500500
Net book value
At 31 January 24500500
At 31 January 23500500

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables39,925252
Amounts owed by group undertakings809,038251,223
Other debtors100100
Prepayments and accrued income-150
Total849,063251,725
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,52418
Amounts owed to related parties132,018-
Taxation and social security20,63619,054
Other creditors1,1661,429
Accrued liabilities and deferred income27,96518,970
Total183,30939,471
7.Related party transactions
During the financial year, various loan accounts operated between French Village Bakery Ltd and other companies, all of which were under common control. At the end of the financial year a total balance of £809,038 was owed to French Village Group Ltd by French Village Bakery Ltd (2023 - £251,222). At the end of the financial year a total balance of £3,855 was owed by French Village Group Ltd to French Capital Limited. At the end of the financial year a total balance of £128,164 was owed by French Village Group Ltd to French Mills Capital Limited.