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COMPANY REGISTRATION NUMBER: 3500151
Frio Astrid Euro Limited
Filleted Unaudited Financial Statements
31 January 2024
Frio Astrid Euro Limited
Financial Statements
Year ended 31 January 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
Frio Astrid Euro Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
17
23
Investments
6
21,344
21,955
--------
--------
21,361
21,978
Current assets
Stocks
182,000
142,095
Debtors
7
30,239
42,366
Cash at bank and in hand
110,050
105,705
---------
---------
322,289
290,166
Creditors: amounts falling due within one year
8
( 41,049)
( 9,515)
---------
---------
Net current assets
281,240
280,651
---------
---------
Total assets less current liabilities
302,601
302,629
Creditors: amounts falling due after more than one year
9
( 3,460)
---------
---------
Net assets
302,601
299,169
---------
---------
Capital and reserves
Called up share capital
10
200
200
Share premium account
9,902
9,902
Profit and loss account
292,499
289,067
---------
---------
Shareholders funds
302,601
299,169
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Frio Astrid Euro Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mr CA Van Der Spoel
Director
Company registration number: 3500151
Frio Astrid Euro Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Castle Villa, Hayscastle, Haverfordwest, Pembrokeshire, SA62 5AA.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, Fittings & Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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 for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
10,576
3,460
--------
-------
Tax on profit
10,576
3,460
--------
-------
5. Tangible assets
Fixtures, Fittings & Equipment
Total
£
£
Cost
At 1 February 2023 and 31 January 2024
6,634
6,634
-------
-------
Depreciation
At 1 February 2023
6,611
6,611
Charge for the year
6
6
-------
-------
At 31 January 2024
6,617
6,617
-------
-------
Carrying amount
At 31 January 2024
17
17
-------
-------
At 31 January 2023
23
23
-------
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 February 2023
21,955
Revaluations
( 611)
--------
At 31 January 2024
21,344
--------
Impairment
At 1 February 2023 and 31 January 2024
--------
Carrying amount
At 31 January 2024
21,344
--------
At 31 January 2023
21,955
--------
7. Debtors
2024
2023
£
£
Trade debtors
4,335
17,744
Other debtors
25,904
24,622
--------
--------
30,239
42,366
--------
--------
Other debtors include an amount of £Nil (2023 - £Nil) falling due after more than one year.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,886
Corporation tax
10,576
Other creditors
30,473
3,629
--------
-------
41,049
9,515
--------
-------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Corporation tax
3,460
----
-------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
200
200
200
200
----
----
----
----
11. Related party transactions
The company paid rent of £6,500 (2023 - £6,200) and management fees of £35,000 (2023 - £35,000) to Mr CA Van Der Spoel , a director of the company. The company paid dividends of £30,000 (2023 - £nil) to the shareholders.