Company Registration No. 08572260 (England and Wales)
FALAFALE LTD
Unaudited accounts
for the year ended 31 March 2024
FALAFALE LTD
Unaudited accounts
Contents
FALAFALE LTD
Company Information
for the year ended 31 March 2024
Directors
James Alexander Bates
Lucy Noone
Thomas White
Thomas Michael Henry Stanley
Company Number
08572260 (England and Wales)
Registered Office
Suite26B
Britannia Pavillion, Albert Dock
Liverpool
L3 4AD
Accountants
Williams Stanley and Co
FALAFALE LTD
Statement of financial position
as at 31 March 2024
Intangible assets
5,748
8,315
Tangible assets
750,425
888,923
Cash at bank and in hand
120,564
156,862
Creditors: amounts falling due within one year
(730,271)
(1,306,790)
Net current liabilities
(402,652)
(331,602)
Total assets less current liabilities
418,522
565,637
Creditors: amounts falling due after more than one year
(180,432)
(449,580)
Provisions for liabilities
Deferred tax
(142,581)
(43,206)
FALAFALE LTD
Statement of financial position
as at 31 March 2024 (continued)
Called up share capital
62
59
Share premium
49,997
(256,216)
Capital redemption reserve
112,500
-
Profit and loss account
(67,050)
329,008
Shareholders' funds
95,509
72,851
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by
James Alexander Bates
Director
Company Registration No. 08572260
FALAFALE LTD
Notes to the Accounts
for the year ended 31 March 2024
FALAFALE LTD is a private company, limited by shares, registered in England and Wales, registration number 08572260. The registered office is Suite26B , Britannia Pavillion, Albert Dock, Liverpool, L3 4AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% of the cost per annum
Plant & machinery
20% of the cost per annum
Fixtures & fittings
25% RBM
Computer equipment
25% RBM
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
FALAFALE LTD
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
792,645
152,528
374,245
11,137
1,330,555
Additions
350
7,727
22,774
-
30,851
Disposals
-
-
-
(967)
(967)
At 31 March 2024
792,995
160,255
397,019
10,170
1,360,439
At 1 April 2023
280,250
31,419
127,439
2,524
441,632
Charge for the year
93,723
24,343
48,514
2,124
168,704
On disposals
-
-
-
(322)
(322)
At 31 March 2024
373,973
55,762
175,953
4,326
610,014
At 31 March 2024
419,022
104,493
221,066
5,844
750,425
At 31 March 2023
512,395
121,109
246,806
8,613
888,923
6
Investments
Subsidiary undertakings
Valuation at 1 April 2023
1
Valuation at 31 March 2024
65,001
FALAFALE LTD
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Accrued income and prepayments
77,189
-
Other debtors
65,288
34,370
Amounts falling due after more than one year
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
26,178
-
Trade creditors
108,370
179,544
Taxes and social security
42,416
66,927
Other creditors
196,108
876,789
Deferred income
34,073
32,583
9
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
71,143
69,451
Loans from directors
10,502
78,284
Allotted, called up and fully paid:
6,185 Ordinary shares of £0.01 each
61.85
58.75
Shares issued during the period:
310 Ordinary shares of £0.01 each
3.10
11
Transactions with related parties
QVO Spirits Ltd:
The company is related to Falafale Ltd as it is a wholly owned subsidiary. The amount owed to QVO Spirits Ltd at the balance sheet date was £58,797 (2023: £69,451).
Guaranteed Joy Ltd:
The company is related to Falafale Ltd by virtue of common directors. The amount owed to Guaranteed Joy Ltd at the balance sheet date was £12,346 (2023: £0).
FALAFALE LTD
Notes to the Accounts
for the year ended 31 March 2024
12
Average number of employees
During the year the average number of employees was 71 (2023: 41).