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Company Registration No. 14358694 (England and Wales)
AFRO LOUNGE LTD Financial Statements for the year ended 30 September 2024
AFRO LOUNGE LTD Financial Statements Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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AFRO LOUNGE LTD Company Information for the year ended 30 September 2024
Director
Adesegun Kazeem Badmos
Company Number
14358694 (England and Wales)
Registered Office
298 ARGOSY WAY NEWPORT NP19 0LP WALES
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AFRO LOUNGE LTD Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
19,800 
26,400 
Current assets
Inventories
625 
795 
Debtors
5
3,500 
3,500 
Cash at bank and in hand
7,332 
8,119 
11,457 
12,414 
Creditors: amounts falling due within one year
6
(2,901)
- 
Net current assets
8,556 
12,414 
Total assets less current liabilities
28,356 
38,814 
Creditors: amounts falling due after more than one year
7
(65,484)
(58,265)
Net liabilities
(37,128)
(19,451)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(37,129)
(19,452)
Shareholders' funds
(37,128)
(19,451)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 September 2025 and were signed on its behalf by
Adesegun Kazeem Badmos Director Company Registration No. 14358694
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AFRO LOUNGE LTD Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
AFRO LOUNGE LTD is a private company, limited by shares, registered in England and Wales, registration number 14358694. The registered office is 298 ARGOSY WAY, NEWPORT, NP19 0LP, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20%
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 October 2023
33,000 
At 30 September 2024
33,000 
Depreciation
At 1 October 2023
6,600 
Charge for the year
6,600 
At 30 September 2024
13,200 
Net book value
At 30 September 2024
19,800 
At 30 September 2023
26,400 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,500 
3,500 
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AFRO LOUNGE LTD Notes to the Accounts for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
2,901 
- 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
65,484 
58,265 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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