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Registration number: 11656635

Village Spice Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Village Spice Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Village Spice Ltd

Company Information

Directors

Mr Lutfur Rahman

Shammi Akhtar

Registered office

32 Woodside Road
Ketley
Telford
TF1 5EZ

Accountants

James Thompson t/a AIMS
11 Brindley Place
Brunswick Square
Birmingham
West Midlands
B1 2LP

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Village Spice Ltd
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Village Spice Ltd for the year ended 30 November 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountant (CIMA), we are subject to its ethical and other professional requirements which are detailed at www.aicpa-cima.com.

This report is made solely to the Board of Directors of Village Spice Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Village Spice Ltd and state those matters that we have agreed to state to the Board of Directors of Village Spice Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Village Spice Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Village Spice Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Village Spice Ltd. You consider that Village Spice Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Village Spice Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

James Thompson t/a AIMS
11 Brindley Place
Brunswick Square
Birmingham
West Midlands
B1 2LP

18 August 2025

 

Village Spice Ltd

(Registration number: 11656635)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,438

10,742

Current assets

 

Stocks

5

2,715

2,000

Debtors

6

61,714

130,470

Cash at bank and in hand

 

6,261

608

 

70,690

133,078

Creditors: Amounts falling due within one year

7

(206,928)

(191,015)

Net current liabilities

 

(136,238)

(57,937)

Total assets less current liabilities

 

(119,800)

(47,195)

Creditors: Amounts falling due after more than one year

7

(13,500)

(16,750)

Net liabilities

 

(133,300)

(63,945)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(133,301)

(63,946)

Shareholders' deficit

 

(133,300)

(63,945)

For the financial year ending 30 November 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 13 August 2025 and signed on its behalf by:
 

 

Village Spice Ltd

(Registration number: 11656635)
Balance Sheet as at 30 November 2024

.........................................
Mr Lutfur Rahman
Director

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
32 Woodside Road
Ketley
Telford
TF1 5EZ

These financial statements were authorised for issue by the Board on 13 August 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% Reducing Balance

Plant & Machinery

20% Reducing Balance

Office Equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

17,000

5,143

22,143

Additions

1,944

6,898

8,842

At 30 November 2024

18,944

12,041

30,985

Depreciation

At 1 December 2023

10,318

1,083

11,401

Charge for the year

1,369

1,777

3,146

At 30 November 2024

11,687

2,860

14,547

Carrying amount

At 30 November 2024

7,257

9,181

16,438

At 30 November 2023

6,682

4,060

10,742

5

Stocks

2024
£

2023
£

Other inventories

2,715

2,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,923

10,997

Other debtors

54,791

119,473

 

61,714

130,470

7

Creditors

Creditors: amounts falling due within one year

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

3,250

7,482

Trade creditors

 

-

26,103

Taxation and social security

 

203,678

157,430

 

206,928

191,015

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

13,500

16,750

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,500

16,750

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,250

3,000

Other borrowings

-

4,482

3,250

7,482

10

Related party transactions

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Written off
£

At 30 November 2024
£

Mr Lutfur Rahman

Directors Loan Account

119,472

23,291

(119,472)

23,291

Shammi Akhtar

Directors Loan Account

-

17,675

-

17,675

2023

At 1 December 2022
£

At 30 November 2023
£

Mr Lutfur Rahman

Directors Loan Account

119,472

119,472

 

Village Spice Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,000

25,001