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Registered number: 11381951
Feast Colchester Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Golding Accountancy
ACCA
Armoury House Armoury Road
West Bergholt
Colchester
Essex
CO6 3JP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11381951
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 10,000
Tangible Assets 5 9,099 12,131
19,099 22,131
CURRENT ASSETS
Stocks 6 5,250 5,250
Debtors 7 1,725 1,725
Cash at bank and in hand 4,831 274
11,806 7,249
Creditors: Amounts Falling Due Within One Year 8 (7,159 ) (2,640 )
NET CURRENT ASSETS (LIABILITIES) 4,647 4,609
TOTAL ASSETS LESS CURRENT LIABILITIES 23,746 26,740
Creditors: Amounts Falling Due After More Than One Year 9 (36,658 ) (42,668 )
NET LIABILITIES (12,912 ) (15,928 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (12,913 ) (15,929 )
SHAREHOLDERS' FUNDS (12,912) (15,928)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Samuel Latta
Director
14 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Feast Colchester Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11381951 . The registered office is 32 North Hill, Colchester, CO1 1QR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 10,000
As at 31 May 2024 10,000
Net Book Value
As at 31 May 2024 10,000
As at 1 June 2023 10,000
Page 3
Page 4
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 31,845 9,295 41,140
As at 31 May 2024 31,845 9,295 41,140
Depreciation
As at 1 June 2023 23,688 5,321 29,009
Provided during the period 2,039 993 3,032
As at 31 May 2024 25,727 6,314 32,041
Net Book Value
As at 31 May 2024 6,118 2,981 9,099
As at 1 June 2023 8,157 3,974 12,131
6. Stocks
2024 2023
£ £
Stock 5,250 5,250
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,725 1,725
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 227 363
Bank loans and overdrafts 1,227 1,383
Other taxes and social security 91 -
VAT 83 107
Other creditors 700 750
Director's loan account 4,831 37
7,159 2,640
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,918 8,168
Other creditors (1) 30,740 34,500
36,658 42,668
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5