0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 222,797 xbrli:pure xbrli:shares iso4217:GBP 06926153 2023-07-01 2024-06-30 06926153 2024-06-30 06926153 2023-06-30 06926153 2022-07-01 2023-06-30 06926153 2023-06-30 06926153 2022-06-30 06926153 core:FurnitureFittings 2023-07-01 2024-06-30 06926153 core:FurnitureFittings 2023-06-30 06926153 core:FurnitureFittings 2024-06-30 06926153 core:WithinOneYear 2024-06-30 06926153 core:WithinOneYear 2023-06-30 06926153 core:AfterOneYear 2024-06-30 06926153 core:AfterOneYear 2023-06-30 06926153 core:ShareCapital 2024-06-30 06926153 core:ShareCapital 2023-06-30 06926153 core:RetainedEarningsAccumulatedLosses 2024-06-30 06926153 core:RetainedEarningsAccumulatedLosses 2023-06-30 06926153 core:FurnitureFittings 2023-06-30 06926153 bus:Director1 2023-07-01 2024-06-30 06926153 bus:SmallEntities 2023-07-01 2024-06-30 06926153 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06926153 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06926153 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06926153 bus:FullAccounts 2023-07-01 2024-06-30 06926153 core:OfficeEquipment 2023-07-01 2024-06-30 06926153 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 06926153 core:OtherPropertyPlantEquipment 2024-06-30 06926153 core:OtherPropertyPlantEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 06926153
Food Events & Things (FEAT) Limited
Filleted Unaudited Financial Statements
30 June 2024
Food Events & Things (FEAT) Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
6,275
7,844
Current assets
Debtors
6
222,797
228,040
Cash at bank and in hand
56,929
35,393
---------
---------
279,726
263,433
Creditors: amounts falling due within one year
7
77,835
141,114
---------
---------
Net current assets
201,891
122,319
---------
---------
Total assets less current liabilities
208,166
130,163
Creditors: amounts falling due after more than one year
8
18,334
40,333
---------
---------
Net assets
189,832
89,830
---------
---------
Capital and reserves
Called up share capital
2,800
2,800
Profit and loss account
187,032
87,030
---------
--------
Shareholders funds
189,832
89,830
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Food Events & Things (FEAT) Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
Mr J Winship
Director
Company registration number: 06926153
Food Events & Things (FEAT) Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Blue Room, Engine Rooms, Station Road, Chepstow, NP16 5B.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
20% straight line
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
1,390
30,229
31,619
-------
--------
--------
Depreciation
At 1 July 2023
500
23,275
23,775
Charge for the year
178
1,391
1,569
-------
--------
--------
At 30 June 2024
678
24,666
25,344
-------
--------
--------
Carrying amount
At 30 June 2024
712
5,563
6,275
-------
--------
--------
At 30 June 2023
890
6,954
7,844
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
90,172
92,421
Other debtors
132,625
135,619
---------
---------
222,797
228,040
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
22,000
22,128
Trade creditors
853
1,201
Corporation tax
39,529
24,275
Social security and other taxes
12,138
16,227
Natwest Credit Card
( 90)
2,429
Other creditors
3,405
74,854
--------
---------
77,835
141,114
--------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,334
40,333
--------
--------
9. Director's advances, credits and guarantees
At the balance sheet date, the balance of the directors loan account was £667 (2022: £1,780).