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Registered Number: 14697287
England and Wales

 

 

 

FOODTOOL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 31 March 2024
Accountants report to the director of FOODTOOL LTD (the Company):
 You consider that the company is exempt from an audit for the year ended 31 March 2024.


You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.


In accordance with our terms of engagement, in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended period ended 31 March 2024 and your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.


We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.


As a practising member firm of the Association of Accountants Technicians, we are subject to its ethical and other professional requirements which are detailed at https://www.aat.org.uk/membership/standards-requirements/professional-ethics.


Our work has been undertaken in accordance with the requirements of the Association of Accountants Technicians as detailed at: https://www.aat.org.uk/membership/standards-requirements.



....................................................
Adamant Accountants Ltd
Office F3, Boleyn House,
776-778 Barking Road,
London
E13 9PJ
27 December 2024
1
 
 
Notes
 
2024
£
Current assets    
Debtors 741 
Cash at bank and in hand 16 
757 
Creditors: amount falling due within one year (287)
Net current assets 470 
 
Total assets less current liabilities 470 
Net assets 470 
 

Capital and reserves
   
Called up share capital 3 10 
Profit and loss account 460 
Shareholders' funds 470 
 


For the period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 December 2024 and were signed by:


-------------------------------
PAVEL PREOBRAZHENSKIY
Director
2
General Information
FOODTOOL LTD is a private company, limited by shares, registered in England and Wales, registration number 14697287, registration address 71-75 SHELTON STREET, COVENT GARDEN, LONDON , WC2H 9JQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
 The principal accounting polices adopted are set out below.
Presentation currency
The accounts are presented in £ sterling, which is the functional currency of the company. Monetary amounts in these financial
statements are rounded to the nearest £.
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
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed
to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the
economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of
the transaction can be measured reliably.
Rendering of services
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when
the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated
by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as proportion of total costs.
Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is
probable will be recovered.
Cash at bank and in hands
Cash at bank and in hands are basic financial assets and include cash in hand and deposits held with financial institutions
repayable without penalty on notice of non more than 24 hours.
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual
provisions of the instrument.
Basic financial assets
Basic financial assets including debtors, cash and bank balances, with no stated interest rate and receivable within one year
are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Basic financial liabilities
Basic financial liabilities including creditors are initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are
subsequently carried at amortised costs, using the effective interest rate method.
Equity instruments
Equity instruments issued by the company are recognised at the proceeds received, net of direct issue costs. Dividends
payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit
and loss account because it excludes items of income that are taxable or deductible in other years and it further excludes items
that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been
substantively enacted by the reporting end date.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.
Final equity dividends are recognised when approved by the shareholders and directors at an annual general meeting.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and differed tax assets that are recognised to extent
that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such
assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other
assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated
expected useful economic life of the goodwill of 10 years. Goodwill amortisation 10% on cost
2.

Average number of employees

Average number of employees during the period was 0.
3.

Share Capital

Allotted, called up and fully paid
2024
£
10 Class A shares of £1.00 each 10 
10 

3