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Registered number: 07033961
Figa Store Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07033961
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 442,032 530,816
442,032 530,816
CURRENT ASSETS
Stocks 248,555 373,555
Debtors 5 1,093,943 1,838,585
Cash at bank and in hand 2,410,988 1,647,724
3,753,486 3,859,864
Creditors: Amounts Falling Due Within One Year 6 (1,844,935 ) (1,792,034 )
NET CURRENT ASSETS (LIABILITIES) 1,908,551 2,067,830
TOTAL ASSETS LESS CURRENT LIABILITIES 2,350,583 2,598,646
Creditors: Amounts Falling Due After More Than One Year 7 (1,398,601 ) (1,879,460 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (85,301 ) (70,916 )
NET ASSETS 866,681 648,270
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 866,581 648,170
SHAREHOLDERS' FUNDS 866,681 648,270
Page 1
Page 2
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.
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 Fayaz Mohmed Sarodiya
Director
26th June 2024
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
Figa Store Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07033961 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. 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 15% Reducing balance
Motor Vehicles 25% Reducing balance
2.4. 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.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 44 (2023: 44)
44 44
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 909,988 63,706 973,694
Additions 16,651 - 16,651
Disposals - (46,856 ) (46,856 )
As at 30 June 2024 926,639 16,850 943,489
Depreciation
As at 1 July 2023 409,682 33,196 442,878
Provided during the period 78,040 1,038 79,078
Disposals - (20,499 ) (20,499 )
As at 30 June 2024 487,722 13,735 501,457
Net Book Value
As at 30 June 2024 438,917 3,115 442,032
As at 1 July 2023 500,306 30,510 530,816
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 788,289 1,688,563
Other debtors 305,654 150,022
1,093,943 1,838,585
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,714,993 1,216,441
Corporation tax 88,278 253,538
Other taxes and social security 28,184 309,602
Other creditors 13,480 12,453
1,844,935 1,792,034
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 1,398,601 1,879,460
8. Ultimate Parent Undertaking and Controlling Party
The company's ultimate parent undertaking is Adam Holdings Limited, a company incorporated in Great Briatin.
Page 5