Silverfin false false 30/09/2024 01/09/2023 30/09/2024 L Bedwell 01/05/2024 01/09/2023 Guy's & St Thomas' Foundation 04/12/2023 P Willis 05/04/2024 20 December 2024 The principal activity of the Company during the financial period was that of pre-trade activities ahead of the selling of baby food. 15109066 2024-09-30 15109066 bus:Director1 2024-09-30 15109066 bus:Director2 2024-09-30 15109066 bus:Director3 2024-09-30 15109066 core:CurrentFinancialInstruments 2024-09-30 15109066 core:Non-currentFinancialInstruments 2024-09-30 15109066 core:ShareCapital 2024-09-30 15109066 core:FurtherSpecificReserve2ComponentTotalEquity 2024-09-30 15109066 core:RetainedEarningsAccumulatedLosses 2024-09-30 15109066 bus:OrdinaryShareClass1 2024-09-30 15109066 2023-09-01 2024-09-30 15109066 bus:FilletedAccounts 2023-09-01 2024-09-30 15109066 bus:SmallEntities 2023-09-01 2024-09-30 15109066 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-09-30 15109066 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-09-30 15109066 bus:Director1 2023-09-01 2024-09-30 15109066 bus:Director2 2023-09-01 2024-09-30 15109066 bus:Director3 2023-09-01 2024-09-30 15109066 core:Non-currentFinancialInstruments 2023-09-01 2024-09-30 15109066 bus:OrdinaryShareClass1 2023-09-01 2024-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15109066 (England and Wales)

FIRST FOODS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 SEPTEMBER 2023 TO 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

FIRST FOODS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

Contents

FIRST FOODS LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
FIRST FOODS LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 30.09.2024
£
Current assets
Debtors 3 16,999
Cash at bank and in hand 143,624
160,623
Creditors: amounts falling due within one year 4 ( 22,636)
Net current assets 137,987
Total assets less current liabilities 137,987
Creditors: amounts falling due after more than one year 5 ( 186,788)
Net liabilities ( 48,801)
Capital and reserves
Called-up share capital 6 10
Equity reserve 55,212
Profit and loss account ( 104,023 )
Total shareholders' deficit ( 48,801)

For the financial period ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of First Foods Ltd (registered number: 15109066) were approved and authorised for issue by the Board of Directors on 20 December 2024. They were signed on its behalf by:

P Willis
Director
FIRST FOODS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 SEPTEMBER 2023 TO 30 SEPTEMBER 2024
FIRST FOODS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 SEPTEMBER 2023 TO 30 SEPTEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

First Foods Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is International House, 36-38 Cornhill, London, EC3V 3NG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The current period accounts are presented longer than one year to capture the activity from the date of incorporation on the 1st September 2023.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Convertible loan notes
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, in the case of a convertible bond denominated in the functional currency which does not satisfy the fixed-for-fixed criteria, the bond will be a liability instrument and measured a fair value through profit or loss.

2. Employees

Period from
01.09.2023 to
30.09.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Debtors

30.09.2024
£
Other debtors 16,999

4. Creditors: amounts falling due within one year

30.09.2024
£
Trade creditors 7,358
Other creditors 15,278
22,636

5. Creditors: amounts falling due after more than one year

30.09.2024
£
Convertible loan notes 186,788

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

30.09.2024
£
Allotted, called-up and not yet paid
1,000,000 Ordinary shares of £ 0.00001 each 10