Company Registration No. 12655937 (England and Wales)
Formosa Street Kitchen Ltd
Unaudited accounts
for the year ended 31 December 2024
Formosa Street Kitchen Ltd
Unaudited accounts
Contents
Formosa Street Kitchen Ltd
Company Information
for the year ended 31 December 2024
Directors
Francois Marie Guerin
Jean Francois Lesage
Company Number
12655937 (England and Wales)
Registered Office
18 Formosa Street
London
W9 1EE
Accountants
Gains Accountants
Queen Elizabeth Olympic Park
Plexal, 14 East Bay Lane
London
E20 3BS
Formosa Street Kitchen Ltd
Statement of financial position
as at 31 December 2024
Called up share capital not paid
15,000
15,000
Intangible assets
29,000
29,000
Tangible assets
121,733
120,718
Cash at bank and in hand
4,799
14,458
Creditors: amounts falling due within one year
(122,641)
(106,857)
Net current assets/(liabilities)
207,562
(26,243)
Total assets less current liabilities
373,295
138,475
Creditors: amounts falling due after more than one year
(210,724)
(60,959)
Called up share capital
62,250
60,000
Profit and loss account
70,445
17,516
Shareholders' funds
162,571
77,516
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 20 September 2025 and were signed on its behalf by
Francois Marie Guerin
Director
Company Registration No. 12655937
Formosa Street Kitchen Ltd
Notes to the Accounts
for the year ended 31 December 2024
Formosa Street Kitchen Ltd is a private company, limited by shares, registered in England and Wales, registration number 12655937. The registered office is 18 Formosa Street, London, W9 1EE.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
15% or 50% (Straight line basis)
Fixtures & fittings
10% or 15% (Straight line basis)
Computer equipment
15% (Straight line basis)
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Formosa Street Kitchen Ltd
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
At 31 December 2024
29,000
At 31 December 2024
29,000
At 31 December 2023
29,000
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
36,087
117,755
1,104
154,946
Additions
23,944
431
2,719
27,094
At 31 December 2024
60,031
118,186
3,823
182,040
At 1 January 2024
10,900
22,950
378
34,228
Charge for the year
10,217
15,364
498
26,079
At 31 December 2024
21,117
38,314
876
60,307
At 31 December 2024
38,914
79,872
2,947
121,733
At 31 December 2023
25,187
94,805
726
120,718
Formosa Street Kitchen Ltd
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
13,200
12,497
Amounts due from group undertakings etc.
221,437
-
Accrued income and prepayments
1,494
-
Other debtors
47,805
32,495
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
5,899
Trade creditors
68,560
55,320
Taxes and social security
16,363
18,901
Other creditors
15,610
11,097
Loans from directors
(3,504)
(1,500)
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
210,724
60,959
Allotted, called up and fully paid:
- Ordinary shares of £60 each
-
60,000.00
6,224,960 Ordinary shares of £0.01 each
62,249.60
-
Shares issued during the period:
6,224,960 Ordinary shares of £0.01 each
62,249.60
10
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
33,000
29,000
Later than one year and not later than five years
52,167
74,917
Formosa Street Kitchen Ltd
Notes to the Accounts
for the year ended 31 December 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan
1,500
-
-
1,500
12
Transactions with related parties
During the financial year, the following sales and purchases have been made with the companies under the common control:
Francois Square Ltd - Purchases - £6,125
La Ferme Ltd - Purchases - £6,280
At the year end, the following balances are owed to/from the companies under the common control:
Francois Square Ltd - £2,124
La Ferme Ltd - £32,180
13
Average number of employees
During the year the average number of employees was 14 (2023: 14).