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Registered Number: 12690417
England and Wales

 

 

 

AYO AYO FOODS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Director Apaobi Micaheal Olatunji
Registered Number 12690417
Registered Office 29 Goodman Street
Manchester
M9 4FD
Bankers Lloyds Bank Plc



1

On behalf of the board.


----------------------------------
Apaobi Micaheal Olatunji
Director

Date approved: 17 January 2025
2




SRT Accounting Services Ltd

83 Heathbank Road
Higher Blackley
Manchester
M9 0WB
17 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 399,528    179,777 
Cost of sales (350,100)   (152,617)
Gross profit 49,428    27,160 
Selling and distribution costs (11,805)  
Administrative expenses (30,013)   (23,418)
Operating profit 7,610    3,742 
Profit/(Loss) on ordinary activities before taxation 7,610    3,742 
Tax on profit on ordinary activities (1,515)   (711)
Profit/(Loss) for the financial year 6,095    3,031 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 10,930   
10,930   
Current assets      
Stocks 4 11,550   
Debtors 5 15,104    18,329 
Cash at bank and in hand (13,371)   (8,059)
13,283    10,270 
Creditors: amount falling due within one year 6 (13,940)   (6,092)
Net current assets (657)   4,178 
 
Total assets less current liabilities 10,273    4,178 
Net assets 10,273    4,178 
 

Capital and reserves
     
Profit and loss account 10,273    4,178 
Shareholders' funds 10,273    4,178 
 


For the year ended 30 June 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 year 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 17 January 2025 and were signed by:


-------------------------------
Apaobi Micaheal Olatunji
Director
5
  Retained Earnings   Total
£ £
At 01 July 2022 1,147  1,147 
Profit for the year 3,031  3,031 
Total comprehensive income for the year 3,031  3,031 
Total investments by and distributions to owners
At 30 June 2023 4,178  4,178 
At 01 July 2023 4,178  4,178 
Profit for the year 6,095  6,095 
Total comprehensive income for the year 6,095  6,095 
Total investments by and distributions to owners
At 30 June 2024 10,273  10,273 
6
General Information
Ayo Ayo Foods Limited is a private company, limited by shares, registered in England and Wales, registration number 12690417, registration address 29 Goodman Street, Manchester, M9 4FD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20 Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 July 2023  
Additions 11,295    11,295 
Disposals  
At 30 June 2024 11,295    11,295 
Depreciation
At 01 July 2023  
Charge for year 365    365 
On disposals  
At 30 June 2024 365    365 
Net book values
Closing balance as at 30 June 2024 10,930    10,930 
Opening balance as at 01 July 2023  


4.

Stocks

2024
£
  2023
£
Stocks 11,550   
11,550   

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 15,104    18,315 
VAT   14 
15,104    18,329 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,152   
Corporation Tax 2,269    980 
Other Creditors (2)  
Directors' Current Accounts 7,521    5,112 
13,940    6,092 

7.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

7