Registered number
07804334
ADM FOOD & WINE LTD
Filleted Accounts
31 October 2024
ADM FOOD & WINE LTD
Registered number: 07804334
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,519 20,648
Current assets
Stocks 73,595 67,327
Debtors 4 - 364
Cash at bank and in hand 1,546 2,992
75,141 70,683
Creditors: amounts falling due within one year 5 (71,313) (45,205)
Net current assets 3,828 25,478
Total assets less current liabilities 20,347 46,126
Creditors: amounts falling due after more than one year 6 (21,466) (52,571)
Net liabilities (1,119) (6,445)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,120) (6,446)
Shareholders' funds (1,119) (6,445)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Duzgun Badan
Director
Approved by the board on 26 March 2025
ADM FOOD & WINE LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% @ reducing balance
Vehicle -Addition 20% @ reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Equipment, fixtures and fittings etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 50,591 23,000 73,591
At 31 October 2024 50,591 23,000 73,591
Depreciation
At 1 November 2023 41,719 11,224 52,943
Charge for the year 1,774 2,355 4,129
At 31 October 2024 43,493 13,579 57,072
Net book value
At 31 October 2024 7,098 9,421 16,519
At 31 October 2023 8,872 11,776 20,648
4 Debtors 2024 2023
£ £
Other debtors - 364
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,427 7,775
Trade creditors 38,564 17,900
Taxation and social security costs 6,886 3,863
Other creditors 17,436 15,667
71,313 45,205
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,798 25,833
Obligations under finance lease and hire purchase contracts 668 5,422
Other creditors 5,000 21,316
21,466 52,571
7 Controlling party
Duzgun Badan
8 Other information
ADM FOOD & WINE LTD is a private company limited by shares and incorporated in England. Its registered office is:
331 High Street
Enfield
EN3 4DH
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