2023-03-012024-02-292024-02-29false12139697FIESTA INVESTMENT 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FIESTA INVESTMENT LTD

Registered Number
12139697
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

FIESTA INVESTMENT LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

HE, Haoran

Registered Address

2 Hampton Court Road
First Floor
Birmingham
B17 9AE

Registered Number

12139697 (England and Wales)
FIESTA INVESTMENT LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets380,429107,442
80,429107,442
Current assets
Stocks42,178,0653,666,478
Debtors5,67,644,8866,332,015
Cash at bank and on hand6014,257
9,823,55210,002,750
Creditors amounts falling due within one year7(21,259)(99,476)
Net current assets (liabilities)9,802,2939,903,274
Total assets less current liabilities9,882,72210,010,716
Creditors amounts falling due after one year8(10,687,877)(10,422,800)
Net assets(805,155)(412,084)
Capital and reserves
Called up share capital11
Profit and loss account(805,156)(412,085)
Shareholders' funds(805,155)(412,084)
The financial statements were approved and authorised for issue by the Director on 28 February 2025, and are signed on its behalf by:
HE, Haoran
Director
Registered Company No. 12139697
FIESTA INVESTMENT LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 23152,228999153,227
Additions-4,5404,540
At 29 February 24152,2285,539157,767
Depreciation and impairment
At 01 March 2345,38540045,785
Charge for year30,4461,10731,553
At 29 February 2475,8311,50777,338
Net book value
At 29 February 2476,3974,03280,429
At 28 February 23106,843599107,442
4.Stocks

2024

2023

££
Work in progress2,178,0653,666,478
Total2,178,0653,666,478
5.Debtors: amounts due within one year

2024

2023

££
Other debtors6,0447,073
Prepayments and accrued income-10,500
Total6,04417,573
6.Debtors: amounts due after one year

2024

2023

££
Other debtors7,638,8436,314,442
Total7,638,8436,314,442
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13,481-
Taxation and social security638113
Other creditors1,57596,588
Accrued liabilities and deferred income5,5652,775
Total21,25999,476
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,687,87710,422,800
Total10,687,87710,422,800
9.Related party transactions
During the year, the company entered into the following transactions with related parties: Rising Sun Capital Limited (Mr Haoran He is the director and shareholder of Rising Sun Capital Limited). During the year, the company provided an amount of £1,826,633 to Rising Sun Capital Limited (2023: £1,039,318). The amount owed by Rising Sun Capital amounted to £3,243,639 (2023: £1,417,006). Fiesta SPV 1 Ltd, Fiesta SPV 2 Ltd and Fiesta SPV 3 Ltd At the balance sheet date, the amount provided to its three subsidiaries was £1,275,370 (2023: £1,275,370).