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Company No: 13052993 (England and Wales)

FOOD & HOSPITALITY LTD

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

FOOD & HOSPITALITY LTD

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

FOOD & HOSPITALITY LTD

BALANCE SHEET

As at 31 October 2024
FOOD & HOSPITALITY LTD

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 40,904 0
40,904 0
Current assets
Stocks 5 140,500 0
Debtors 6 48,822 1
Cash at bank and in hand 7 21,861 0
211,183 1
Creditors: amounts falling due within one year 8 ( 320,895) 0
Net current (liabilities)/assets (109,712) 1
Total assets less current liabilities (68,808) 1
Creditors: amounts falling due after more than one year 9 ( 34,507) 0
Net (liabilities)/assets ( 103,315) 1
Capital and reserves
Called-up share capital 10 1 1
Profit and loss account ( 103,316 ) 0
Total shareholder's (deficit)/funds ( 103,315) 1

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

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Food & Hospitality Ltd (registered number: 13052993) were approved and authorised for issue by the Director on 04 April 2025. They were signed on its behalf by:

F Patel
Director
FOOD & HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
FOOD & HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Food & Hospitality Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 78 Chorley New Road, Bolton, BL1 4BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 31 1

4. Tangible assets

Vehicles Total
£ £
Cost
At 01 November 2023 0 0
Additions 43,057 43,057
At 31 October 2024 43,057 43,057
Accumulated depreciation
At 01 November 2023 0 0
Charge for the financial year 2,153 2,153
At 31 October 2024 2,153 2,153
Net book value
At 31 October 2024 40,904 40,904
At 31 October 2023 0 0

5. Stocks

2024 2023
£ £
Stocks 140,500 0

6. Debtors

2024 2023
£ £
Trade debtors 40,078 0
Other debtors 8,744 1
48,822 1

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 21,861 0

8. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 23,602 0
Obligations under finance leases and hire purchase contracts 6,839 0
Other creditors 290,454 0
320,895 0

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 34,507 0

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

11. Related party transactions

Included in other debtors is a loan balance of £6,870 due from the director. The loan is interest free and repayable on demand.