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Registration number: 03804473

FFCC Enterprises Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

FFCC Enterprises Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

FFCC Enterprises Limited

(Registration number: 03804473)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Stocks

9,226

9,279

Debtors

4

167

-

Cash at bank and in hand

 

81,428

54,722

 

90,821

64,001

Creditors: Amounts falling due within one year

5

(19,539)

(19,734)

Net assets

 

71,282

44,267

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

71,281

44,266

Shareholders' funds

 

71,282

44,267

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 


Sir M A B Morpurgo
Director

 

FFCC Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 2 Huxham Barns
Huxham
Exeter
Devon
EX5 4EJ

Principal activity

The principal activity of the company is other trading activities to support the Charity

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

FFCC Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

In accordance with FRS102 corporation tax is only provided to the extent that the company has not donated its profits to its parent charity under the gift aid rules and does intend to make such a payment within 9 months of the year end.

Tax is recognised in profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

FFCC Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Debtors

2024
£

2023
£

Trade debtors

167

-

167

-

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

27

2,830

Amounts owed to group

19,502

13,148

Accruals and deferred income

 

10

1,000

Other creditors

 

-

2,756

 

19,539

19,734

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

FFCC Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Parent and ultimate parent undertaking

The company's immediate parent is Farms for City Children Limited, incorporated in United Kingdom.
 

The registered address of Farms for City Children is the same as that of FFCC Enterprises Limited, as disclosed in note 1 of the accounts.